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Stock Market & Financial Investment News

News Breaks
November 16, 2012
13:56 EDTWFCNY AG says Wells Fargo directive likely violates mortgage settlement
New York Attorney General Eric Schneiderman warned Wells Fargo to reverse a new policy that temporarily suspends review of mortgage relief applications from New York homeowners. Attorney General Schneiderman said he warned Wells Fargo in a letter that its directive to suspend "all home preservation reviews and decisions" across the Northeast "in order to await further instructions from FEMA" likely violates the terms of the National Mortgage Settlement.
News For WFC From The Last 14 Days
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February 10, 2016
06:36 EDTWFCMorgan trading head says Q1 may be tough for Wall Street, WSJ says
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February 9, 2016
15:45 EDTWFCFed telling banks to stress test for negative rates, CNBC reports
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11:41 EDTWFCWells Fargo says nothing surprising in 2016 CCAR tests
Says energy sector weakness "doesn't seem like systemic issue." Says bank stock decline "could be overreaction."
11:28 EDTWFCWells Fargo says bank positioning itself for 'lower for longer' rate environment
11:25 EDTWFCWells Fargo CFO: 'We are prepared for it' if Fed doesn't raise rates this year
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11:24 EDTWFCWells Fargo: 'We have to be prepared for 0-1' rate increases this year
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10:03 EDTWFCWells Fargo volatility increases
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09:22 EDTWFCWells Fargo says to benefit from GE Capital loan acquisitions in 2016
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07:43 EDTWFCMorgan Stanley punished more than peers amid banking rout, WSJ reports
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05:52 EDTWFCWells Fargo volatility elevated as shares trend lower
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February 8, 2016
06:31 EDTWFCNorway's oil fund tells U.S. banks to split CEO-chairman positions, FT says
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February 4, 2016
06:58 EDTWFCFed official supports tougher bank stress tests, Reuters reports
Boston Fed president Eric Rosengren said that he supports tougher stress tests for "too big to fail" banks, including larger capital investments that would make them "even more binding," Reuters reports. Rosengren said that stress test changes have reduced the likelihood that systemically important financial firms would fail, the report says. Publicly traded companies in the 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
06:52 EDTWFCCredit Suisse says not in asset sale talks with Wells Fargo, Reuters reports
Credit Suisse (CS) CEO Tidjane Thiam says there is "no foundation" to reports suggesting the company is in asset sale talks with Wells Fargo (WFC), Reuters reports. Thiam says the company's investment bank is "important" to its strategy. Reference Link
06:51 EDTWFCBofA doesn't deserve to be in 'stock market doghouse,' WSJ says
Bank of America (BAC) is currently in the "stock market doghouse," but doesn't deserve to be, David Reilly of the Wall Street Journal's Ahead of the Tape says. The overall beating of U.S. bank stocks has come amid the greater market selloff, reflecting the fact that slowing growth has brought doubt on the Fed's ability to raise rates in March, Reilly says. Since a rate increase is a far-off prospect, investors have little reason to own bank stocks, though Bank of America's valuation assumes "too dire an outcome," the report says. Banks with international outreach, such as Citi (C), are still arguably further behind in post-crisis cleanup, but Bank of America is more focused on the domestic U.S. economy and prices a U.S. recession as a given, not a possibility, the report says. Other large U.S. banks include Wells Fargo (WFC), JPMorgan (JPM), Goldman Sachs (GS), Morgan Stanley (MS), U.S. Bancorp (USB), BB&T (BBT), PNC Financial (PNC), and SunTrust (STI). Reference Link
February 3, 2016
09:10 EDTWFCWells Fargo to pay $1.2B to settle government claims over lending activities
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February 2, 2016
12:19 EDTWFCWells Fargo settles with SEC over municipal securities underwriting violations
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January 31, 2016
20:43 EDTWFCOn The Fly: Top five weekend stock stories
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Coca-Cola (KO) announced a minority stake in diary and juice company Chi, with plans to take full ownership within three years. 2. Billionaire investor Nelson Peltz is considering taking an activist position in Time Warner (TWX), the New York Post reported. 3. Toyota (TM) could temporarily halt domestic production after an explosion at a key supplier curbed its supply of steel, Reuters said. 4. Investigations into Herbalife (HLF), as well as investigations into Bill Ackman himself, have fizzled and criminal charges look unlikely, the Wall Street Journal revealed. 5. Virtu Financial (VIRT) and Ctrip (CTRP) were discussed positively by Barron's this week, as well as "tech bargains" Autodesk (ADSK), Akamai (AKAM), Western Digital (WDC), SanDisk (SNDK) and Lam Research (LRCX) and attractive banking stocks Citi (C), JPMorgan (JPM), Bank of America (BAC) and Wells Fargo (WFC).
12:33 EDTWFCU.S. banks could return 20% or more, Barron's says
The banking sector looks like "one of the best bargains in the market," Barron's contends in a cover story. Names such as Citi (C), JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), Morgan Stanley (MS), BB&T (BBT), PNC Financial (PNC), SunTrust (STI) and U.S. Bancorp (USB) are showing healthy balance sheets and could offer "at least" 20% upside, the publication argues, adding that the industry's exposure to the energy sector "looks manageable" given information offered in recent earnings reports and conference calls. Reference Link

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