Wells Fargo is a leading financial services company that provides a wide range of banking, investment, and mortgage products and services to individuals, businesses, and institutions
With a national presence, Wells Fargo operates through a network of branches and ATMs, offering services such as personal and commercial banking, wealth management, and asset management. The company is committed to supporting its customers' financial needs while also focusing on community engagement and sustainable practices. In addition to traditional banking services, Wells Fargo is involved in various financial markets and investment banking activities, helping clients navigate complex financial landscapes.
CFPB dropped lawsuit against JPMorgan Chase, Wells Fargo, and Bank of America for alleged failure to prevent fraud on Zelle. Trump administration ended several consumer protection cases.
Seventy-six percent of Americans are cutting back on spending, up from 67% in 2024, according to findings from the second annual Wells Fargo Money Study.
“If you build it, he will come.” That's the key line that keeps going through my mind this year. Though it’s not about long-gone baseball stars. Instead, it’s about commercial real estate and the building boom that’s already happening.
Shares of secondhand luxury marketplace The RealReal (NASDAQREAL)
fell 17.7% in the afternoon session after the company reported underwhelming fourth-quarter 2024 results: its full-year EBITDA guidance missed significantly, and its number of active buyers fell slightly short of Wall Street's estimates. Revenue grew 14% year on year, fueled by a 12% increase in gross merchandise value (GMV), however, it barely scaled past Wall Street's estimates, evoking no excitement.
Despite the growth concerns, profits improved. However, it's not clear if the momentum can be sustained as the company guided for full-year 2025 EBITDA between $20 million and $30 million, a shortfall compared to analysts' expectations. First-quarter revenue guidance also suggests a potential slowdown from the strong holiday-driven Q4.
While RealReal continues to make progress toward profitability, the weaker revenue outlook and slightly disappointing buyer growth raise questions.
Wells Fargo may see a big acceleration in growth once the Federal Reserve removes the growth shackles it put on in 2018, providing running room for WFC.
Shares of streaming TV platform Roku (NASDAQROKU)
jumped 15.7% in the pre-market session after the company reported strong fourth-quarter 2024 results that easily cleared analysts' sales, EBITDA, and earnings expectations. Revenue grew 22% year on year, driven by a 25% increase in platform revenue, which benefited from higher advertising demand, including political ad spending, and deeper third-party platform integrations.
Wells Fargo & Company (NYSEWFC) today confirmed that the Office of the Comptroller of the Currency (OCC) terminated its 2018 consent order related to the company’s compliance risk management program. This is the tenth consent order closed by Wells Fargo’s regulators since 2019.
Citi raised the firm's price target on Rockwell Automation to $350 from $345 while maintaining a ‘Buy’ rating on the shares. Wells Fargo raised the target to $337 from $315 while maintaining an ‘Overweight’ rating on the shares.
Shares of wireless chipmaker Qualcomm (NASDAQQCOM)
fell 6.2% in the morning session after the company reported fourth-quarter results with Wall Street raising concerns about competition from Huawei and the potential loss of its Apple business.
It's a mixed session on Wall Street, with major indices struggling for direction as investors hold their breath ahead of a key jobs report set for Friday morning. The S&P 500 and the Nasdaq 100 edged up 0.3%, while the Dow Jones slipped 0.1% and small caps held steady.
