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Stock Market & Financial Investment News

News Breaks
July 2, 2014
07:09 EDTWFCWells Fargo July volatility increases into Q2 and outlook
Wells Fargo July call option implied volatility is at 20, August is at 14, October is at 13; compared to its 26-week average of 16 according to Track Data, suggesting non-directional price movement after the expected release of Q2 results on July 11
News For WFC From The Last 14 Days
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October 2, 2014
08:24 EDTWFCCiti, Wells Fargo mortgage units must face credit report suit, Reuters reports
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08:05 EDTWFCWells Fargo joins American Express OptBlue program
Wells Fargo (WFC) and American Express (AXP) announced that Wells Fargo has joined OptBlue. Wells Fargo is now providing a full, one-stop servicing solution for American Express Card acceptance to eligible U.S. merchants with projected American Express charge volume of less than $1M per year.
October 1, 2014
11:46 EDTWFCDavid Tepper says economy good, stock market not at high multiple currently
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09:10 EDTWFCKapStone begins accounts receivable securitization program
KapStone Paper and Packaging (KS) entered into an accounts receivable securitization arrangement with Wells Fargo Bank (WFC) and PNC Bank (PNC) on September 26. The Securitization generated proceeds of $175M which were used to partially prepay the Company's existing term loans. Due to a lower interest rate on the Securitization, KapStone's gross annual interest expense will be reduced by approximately $2.0M. The Company's weighted average annual interest rate on its bank debt is now 1.8%. The Securitization can be repaid at any time without penalty.
September 29, 2014
07:58 EDTWFCWarren calls for hearing on 'disturbing' Fed tapes, Reuters reports
Two members of the the Senate Banking Committee, Democrats Elizabeth Warren and Sherrod Brown, called for an investigation into the issues raised by secretly taped conversations between officials at Goldman Sachs (GS) and supervisors at the New York Federal Reserve, reported Reuters. Other large U.S. banks include Bank of America (BAC), Citigroup (C), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
07:15 EDTWFCNational Association of Business Economics to hold annual meeting
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September 25, 2014
15:10 EDTWFCHolder resignation as AG positive for banks, says Rafferty Capital
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September 24, 2014
15:04 EDTWFCGoldman, other banks near deal to buy Bloomberg messaging alternative, WSJ says
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September 23, 2014
06:13 EDTWFCWells Fargo Advisers fined $5M by SEC for failing to maintain controls
The Securities and Exchange Commission yesterday charged Wells Fargo Advisors LLC with failing to maintain adequate controls to prevent one of its employees from insider trading based on a customerís nonpublic information. The SEC also charged Wells Fargo for unreasonably delaying its production of documents during the SECís investigation and providing an altered internal document related to a compliance review of the brokerís trading. Wells Fargo, which admits wrongdoing, has agreed to pay a $5M penalty to settle the SECís charges, which are the first-ever against a broker-dealer for failing to protect a customerís material nonpublic information. Reference Link
September 22, 2014
18:20 EDTWFCSEC fines Wells Fargo Advisors $5M for not stopping inside trade, FT reports
The brokerage arm of Wells Fargo (WFC), Wells Fargo Advisors, was fined $5M by the SEC for not stopping an employee from trading on customer information ahead of the 2010 acquisition of Burger King (BKW), sometimes called ďthe sandwich deal," FT reports. Reference Link
September 18, 2014
14:08 EDTWFCBanks look to high-interest personal loans to boost revenue, WSJ says
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