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Stock Market & Financial Investment News

News Breaks
April 1, 2014
08:32 EDTWFC, DDSWells Fargo, Dillard's announce new credit card agreement
Wells Fargo (WFC) and Dillard’s (DDS) announced that the two companies have entered into an agreement for Wells Fargo to fund, issue and service Dillard’s-branded private label and co-brand credit cards. Wells Fargo will also manage the cardholder loyalty program for Dillard’s. The program agreement has a 10-year term and is anticipated to become operational in 4Q14, following the scheduled expiration of Dillard’s current program agreement. Financial terms of the agreement were not disclosed. Dillard’s management believes its earnings from the new program exclusive of startup costs will be comparable to its historical earnings from the Dillard’s branded credit card products and believes that earnings will increase with future program growth.
News For WFC;DDS From The Last 14 Days
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August 3, 2015
10:07 EDTDDSHigh option volume stocks
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06:42 EDTDDSMichael Kors inventory building at retailers, says Piper Jaffray
Piper Jaffray analyst Erinn Murphy lowered her estimates for Michael Kors (KORS) after channel checks indicated the company's inventory is building at retailers like Macy's (M) and Dillard's (DDS). Further, sales of watches remain under pressure in the U.S. and are starting to slow in Europe, Murphy tells investors in a research note. She believes Kors's negative comps will continue beyond this year as its fundamentals continue to deteriorate. Murphy cut her price target for shares to $38 from $44 and keeps a Neutral rating on the name. The handbag maker closed Friday down 13c to $41.99.
July 31, 2015
06:40 EDTWFCU.S. banks prepared to take advantage of Euro lenders' cautions, WSJ says
U.S. banks are preparing to advance in the sector after reporting earnings, with executives touting the gloom coming from their European counterparts as a major opportunity to capitalize on their newfound advantage, the Wall Street Journal reports. On Thursday, Deutsche Bank (DB) CEO John Cryan said that the company must "shrink" its balance sheet, while Barclays (BCS) chairman John McFarlane said that Wall Street lenders are "an enormous threat" to Euro investment banks, the report says. On the other hand, Morgan Stanley (MS) chairman James Gorman said after reporting earnings last week that the company is poised to advanced in the debt trading sector, and that "there's a potential for, over a period of time, share gain for our business," the report says. In addition, Goldman Sachs finance chief Harvey Schwartz said that the company is "seeing potential big restructuring on the European side," the report adds. Publicly traded companies in the European space include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Publicly traded companies in the U.S. space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
July 30, 2015
13:04 EDTWFCWells Fargo to withdraw from mortgage marketing service agreements with RE firms
Wells Fargo Bank, N.A. announced that it will withdraw from mortgage marketing services and desk rental agreements with real estate firms, builders and certain other referral sources. The decision was made as a result of increasing uncertainty surrounding regulatory oversight of these types of arrangements and as part of Wells Fargo’s ongoing efforts to simplify the process that customers experience as they weigh all of their choices when shopping for a mortgage. “Real estate firms and builders always have been—and will continue to be—very important to Wells Fargo’s retail mortgage operations, and we are exploring a number of new options for enhancing and strengthening those relationships over the long term,” said Franklin Codel, executive vice president for mortgage production at the company. “Because we value our strong relationships with real estate professionals and builders, the decision to exit these marketing services agreements was difficult, but we are taking this action to ensure that we continue to conduct our business in a way that represents the best interests of all of our customers and clients. We believe the best way to earn the relationship with real estate firms and builders is through timely, dependable service delivered by the best team in the business.” The decision is effective Aug. 1 and the wind down will occur over the following 90 days. Termination of these marketing services agreements is not expected to have a material impact on Wells Fargo’s total mortgage production.
July 29, 2015
10:00 EDTWFCOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: 3D Systems (DDD) upgraded to Neutral from Underperform at Longbow... AK Steel (AKS) upgraded to Outperform from Neutral at Macquarie... Ally Financial (ALLY) upgraded to Outperform from Neutral at Credit Suisse... Amazon.com (AMZN) upgraded to Buy from Hold at Stifel... Arrow Electronics (ARW) upgraded to Buy from Underperform at CLSA... Beacon Roofing (BECN) upgraded to Buy from Neutral at CL King... Citrix (CTXS) upgraded to Outperform at Baird... Commvault (CVLT) upgraded to Buy from Hold at Jefferies... FireEye (FEYE) upgraded on positive checks, business mdoel changes at Oppenheimer... Hibbett Sports (HIBB) upgraded to Neutral from Underperform at Sterne Agee CRT... Integra LifeSciences (IART) upgraded to Outperform at Raymond James... M/A-COM (MTSI) upgraded to Buy from Hold at Needham... Norsk Hydro (NHYDY) upgraded to Neutral from Underperform at Exane BNP Paribas... NuVasive (NUVA) upgraded to Outperform from Market Perform at Northland... SM Energy (SM) upgraded to Outperform from Market Perform at Raymond James... Scorpio Bulkers (SALT) upgraded to Buy from Hold at Deutsche Bank... Sirius XM (SIRI) upgraded to Buy from Hold at Wunderlich... Sprouts Farmers Markets (SFM) upgraded to Neutral from Underperform at Longbow... Supervalu (SVU) upgraded to Equal Weight from Underweight at Morgan Stanley... Waters (WAT) upgraded to Outperform from Market Perform at Wells Fargo... Wells Fargo (WFC) upgraded to Buy from Neutral at Guggenheim... Williams-Sonoma (WSM) upgraded to Overweight from Neutral at JPMorgan... YRC Worldwide (YRCW) upgraded to Strong Buy at Raymond James.
07:21 EDTWFCWells Fargo upgraded to Buy from Neutral at Guggenheim
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July 27, 2015
06:52 EDTWFCWells Fargo currently testing mobile biometrics, WSJ reports
Wells Fargo is currently testing voice recognition and eye scanning in an effort to use biometrics technology to authenticate customers using their mobile applications, the Wall street Journal reports, citing comments from Steve Ellis, head of Wells Fargo's new Innovation Group. Wells Fargo's mobile development efforts include testing an assist using artificial intelligence technology and the bank expects to launch the software in 2016, the report says. Reference Link
July 23, 2015
18:57 EDTWFCWells Fargo 'poised for growth,' Barron's says
Wells Fargo is a "high quality" value stock and the "well-managed" company could be "poised for growth" given the potential for interest rate hikes before the end of the year, Barron's contends in its 'Weekday Trader' column. Reference Link
09:06 EDTWFCSEI Investments extends long-term realtionship with Wells Fargo
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July 22, 2015
09:01 EDTWFCWells Fargo names Pelos to oversee commercial, corporate, treasury mangement
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08:38 EDTDDSNRF cuts 2015 retail sales growth forecast to 3.5% from 4.1%
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