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Banking

“Wells Fargo CEO warns of severance costs of nearly $1 billion in fourth quarter as layoffs loom”

“Wells Fargo CEO Charlie Scharf said Tuesday that low staff turnover means the company will likely book a large severance expense in the fourth quarter. “We’re looking at something like $750 million to a little less than a billion dollars of severance in… Continue Reading…

Banking, Real Estate

“Wells Fargo CFO talks shedding real estate, cutting more staff”

“Wells Fargo & Co. sees more opportunity to trim expenses by unloading more real estate and cutting additional employees, Chief Financial Officer Mike Santomassimo told investors. “We continue to believe we’ve got a lot more to do to make the… Continue Reading…

Banking

“Wells Fargo reaches $1 billion shareholder settlement over recovery from scandals”

“Wells Fargo & Co has agreed to pay $1 billion to settle a lawsuit accusing it of defrauding shareholders about its progress in recovering from a series of scandals over its treatment of customers…” https://finance.yahoo.com/news/wells-fargo-reaches-1-billion-040526887.html And people use this bank… Continue Reading…

Banking

“Wells Fargo Loses $800 Million Team to Insigneo”

“A Wells Fargo Advisors team managing more than $800 million in assets has left to join Insigneo, an independent broker-dealer and registered investment advisory firm, the company said.… Miami-based advisors Isadora Del Llano, Yzana Oestreicher, Maria Elena Garcia, and Nilia Gasson make up… Continue Reading…

Economy, Predictions, Opinions, & Comments

“Beauty and bargain retail could be the biggest winners in 2021, Wells Fargo predicts”

“Beauty and bargain retail are poised to be the biggest winners in 2021 as consumers return to brick-and-mortar stores and get comfortable socializing again, according to a new survey by one investment firm. Wells Fargo’s retail team recently polled 1,000… Continue Reading…

Stocks

“Wells Fargo: These 2 Stocks Could Climb at Least 30%”

“Guild Holdings (GHLD)… …4 Buys and 1 Hold assigned in the last three months add up to a Strong Buy analyst consensus. The stock is selling for $16.21, and its $19.30 average price target implies a 19% one-year upside… PDC Energy (PDCE)…… Continue Reading…

Stocks

“2 Big Dividend Stocks Yielding 8%; Wells Fargo Says ‘Buy’”

“TC Pipelines LP (TCP)… The analyst consensus on TCP is not unanimous, but almost. The Strong Buy consensus rating is supported by 3 Buys against a single Hold. Shares sell for $30.39, and the average price target of $40.33 indicates an… Continue Reading…

Stocks

“Millennials Lose Their Shirts On These 3 Collapsing Stocks”

“Millennials are down 50% or more on three of their most popular 100 stocks, which they also were big holders of coming into the year. The big losers they’ve ridden down this year include industrial American Airlines (AAL), financial Wells Fargo (WFC) and energy Exxon… Continue Reading…