U.S. stocks pared early losses on Friday with the Dow turning mildly positive as investors scrutinized more economic data and Federal Reserve commentary following Thursday’s promising inflation report, as well Read more
Tag: Wells Fargo & Co.
Wells Fargo, once a mortgage giant, shrinks home-lending business
Wells Fargo said late Tuesday it was shrinking its home-mortgage business, aiming to serve its own bank customers as well as people in “minority communities.” Wells Fargo WFC, -0.07% also Read more
Wells Fargo ordered to pay $3.7 billion for alleged mismanagement of auto, mortgages and deposit accounts
The Consumer Financial Protection Board (CFPB) on Tuesday said it is requiring Wells Fargo & Co. to pay $3.7 billion for alleged widespread mismanagement of auto loans, mortgages and deposit Read more
Huntington Bancshares takes long view as other banks scramble on mortgages, auto loans and lower deposits
Huntington Bancshares Corp. stock rallied Friday as the financial-services company raised its outlook for net interest income above Wall Street estimates while acknowledging the economic headwinds that have been challenging Read more
Morgan Stanley evaluating job cuts, CEO says
Morgan Stanley CEO James Gorman said the marquee investment bank is studying potential job cuts as the latest big financial institution to look for ways to reduce costs headed into Read more
Why risk of lower 2023 earnings spells bad news for stock market as inflation crushes Fed-pivot hopes
Unrelenting inflation has dashed hopes for a quick pivot away from aggressive interest rate hikes by the Federal Reserve, which in turn is undermining the U.S. corporate earnings outlook for Read more
Why Zelle moves twice as much money as Venmo and Cash App combined
Zelle may not have its own clothing line or suggest emojis when you pay your friend, but the peer-to-peer payment service is moving serious money, and that seems to be Read more
JPMorgan profit falls but beats estimates while Morgan Stanley misses
JPMorgan Chase & Co. shares rose Friday after the megabank beat analyst targets for third-quarter profit and revenue and said it would top forecasts for its net interest income in Read more
The bank best positioned for upcoming earnings is the most criticized one in Washington, says this Bank of America analyst
This recent market turmoil was brought to you by the letter “P”. Prices that are rampant. U.K. Pension funds that are creaking. All investors want is to be shown the Read more
Expect job-market strength to hold despite labor costs pinching company earnings
Not everyone expects to see large-scale layoffs wash over America, even as recession fears lurk and labor costs emerge as a top concern for companies in the third-quarter earnings season. Read more