Fargo

Club holdings Wells Fargo (WFC), Ford (F) and Apple (AAPL) are in the news Wednesday, with potential implications for our investment outlook. Here are the noteworthy headlines of the day, along with the Club take. Wells Fargo The news: Wells Fargo could initiate another round of layoffs at its home mortgage division amid a collapse in homebuyer demand, according to a CNBC report . The bank, which is one of the largest mortgage lenders in the U.S., has been cutting staff at the division since April after the real estate…

CNBC's Jim Cramer on Monday advised investors to add Wells Fargo to their shopping lists."Wells Fargo has now taken the lead as the best net interest margin play in the group, and their multi-year turnaround plan is finally bearing fruit. … It's by far my favorite name in this new leadership group," he said.The bank beat Wall Street expectations on earnings and revenue in its third quarter, though its profit was hurt by its decision to boost its loan loss reserves. Cramer said that the most important part of the bank's…

A Tesla electric vehicle at a supercharger station in Hawthorne, California, on Aug. 9, 2022.Patrick T. Fallon | AFP | Getty ImagesCheck out the companies making the biggest moves midday Monday:Credit Suisse — Shares of Credit Suisse rose 1.7%, reversing an earlier slump that sent the stock to a record low, after the bank over the weekend made a series of calls to calm investor fears about its financial health. In addition, the cost to insure the bank's debt against default jumped to a new high.related investing newsCloud…

Citigroup offices in New York City. Adam Jeffery | CNBC Check out the companies making headlines in midday trading.Pinterest — Shares of the image-sharing social media company surged 15% on a report from the Wall Street Journal that Elliott Management has acquired a more than 9% stake.Citigroup — Citigroup rallied 11% after second-quarter earnings beat on the top and bottom lines. Citigroup was the only one of the four major banks that reported earnings this week to surpass expectations on revenue.Wells Fargo — Shares of…

Charles ScharfQilai Shen | Bloomberg | Getty ImagesWells Fargo CEO Charles Scharf said he is betting on "more significant rate hikes" as the Federal Reserve tries to rein in high inflation, and that the economy is not as prepared as it should be."I wouldn't bet on a number, but I would bet on more significant rate hikes," Scharf told CNBC's Sara Eisen at the Aspen Ideas Festival on Wednesday, adding that he considers 50 and 75 basis point hikes to be "significant themselves.""Is it going to be more than that? Maybe, but…

“It’s going to be hard to avoid some kind of recession,” CEO Charlie Scharf said at the WSJ’s Future of Everything Festival. Fed Chairman Jerome Powell and other executives are also set to speak on the first day of the event. “It’s going to be hard to avoid some kind of recession,” CEO Charlie Scharf said at the WSJ’s Future of Everything Festival. Fed Chairman Jerome Powell and other executives are also set to speak on the first day of the event. FOLLOW US ON GOOGLE NEWS Read original article here Denial of…

Mary Barra, Chair and CEO of the General Motors Company (GM), speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022.Patrick T. Fallon | AFP | Getty ImagesDETROIT — Shares of General Motors on Thursday hit a new 52-week low and opened at their lowest price since November 2020, after Wells Fargo downgraded the stock and significantly slashed its target price for the company.Wells Fargo analyst Colin Langan lowered GM's rating after market close Wednesday to "underweight" from…

This week, shareholders at Citigroup, Wells Fargo, Bank of America, and Goldman Sachs voted on resolutions recommending the companies stop any additional financing for fossil fuel projects. All the resolutions failed, pretty spectacularly, garnering just over 10 percent of the vote. Despite that failure, the votes were notable examples of a strategy climate activists are implementing with increasing boldness: pressuring institutions from the inside to make meaningful reforms on climate change. It’s one that showed…

Business credit is difficult to get until a company is well established. In most cases, business founders need to put up their personal assets (and credit score) to get approved for a business line of credit. Entrepreneurs may not want to risk their personal credit for their company -- or may not even be able to, due to poor credit. The Wells Fargo Business Secured Credit Card is one of the few card options available for small businesses…