Breaking News Instant updates and real-time market news.

WFC

Wells Fargo

$44.75

-0.57 (-1.26%)

08:02
10/14/16
10/14
08:02
10/14/16
08:02

Wells Fargo reports Q3 Common Equity Tier 1 ratio 10.7%

Capital levels remained strong in the third quarter, with a Common Equity Tier 1 ratio of 10.7 percent, compared with 10.6 percent in the prior quarter. In third quarter 2016, the Company repurchased 38.3 million shares of its common stock, contributing to a net reduction in period-end common shares outstanding of 24.6 million shares. The Company paid a quarterly common stock dividend of $0.38 per share, up from $0.375 per share a year ago. "Credit results improved in the third quarter as our quarterly loss rate decreased to 0.33 percent," said Chief Risk Officer Mike Loughlin. "The loan portfolio continued to perform well, led by strong performance in consumer real estate. Oil and gas portfolio performance during the quarter improved with lower credit losses and improved portfolio quality. The allowance for credit losses in the third quarter remained unchanged from the second quarter. Future allowance levels will be based on a variety of factors, including loan growth, portfolio performance and general economic conditions." Credit losses were $805 million in third quarter 2016, down $119 million, or 13 percent, from second quarter 2016. The decline was primarily due to a $94 million decrease in oil and gas losses. Consumer losses increased $23 million, driven by a $47 million increase in automobile losses from seasonally low losses in the second quarter, partially offset by a decrease in credit card losses of $25 million.

  • 14

    Oct

  • 23

    Oct

WFC Wells Fargo
$44.75

-0.57 (-1.26%)

10/04/16
RAJA
10/04/16
DOWNGRADE
RAJA
Underperform
Wells Fargo downgraded to Underperform from Market Perform at Raymond James
Raymond James analyst David Long downgraded Wells Fargo to Underperform and reduced estimate saying the fallout from the unauthorized account openings will result in continued under performance. The analyst said several additional investigations, lawsuits, and fines have been announced, resulting in a still cloudy outlook.
10/04/16
10/04/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Wells Fargo (WFC) downgraded to Underperform from Market Perform at Raymond James with analyst David Long saying the fallout from the unauthorized account openings will result in continued under performance. The analyst said several additional investigations, lawsuits, and fines have been announced, resulting in a still cloudy outlook. 2. Kinder Morgan (KMI) downgraded to Hold from Buy at Stifel analyst Selman Akyol citing valuation. 3. GrubHub (GRUB) downgraded to Hold from Buy at Stifel with analyst John Egbert citing valuation. 4. Dr Pepper Snapple (DPS) downgraded to Hold from Buy at Evercore ISI with analyst Robert Ottenstein saying reports that Bai Brands is looking for a new owner are credible and could change investor's psychology on the stock and its Allied Brands business. 5. Dollar Tree (DLTR) downgraded to Neutral from Buy at Cleveland Research with the firm saying sales trends appear to have slowed further at Family Dollar as the company struggles with increased price competition, difficult comps, and strategy headwinds. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/10/16
UBSW
10/10/16
UPGRADE
Target $44
UBSW
Neutral
Wells Fargo upgraded to Neutral from Sell at UBS
UBS analyst Brennan Hawken upgraded Wells Fargo to Neutral saying the risk/reward appears more balanced after the significant underperformance of the shares. The analyst believes Wells' earnings outlook remains uncertain, however. He keeps a $44 price target for the shares.
10/13/16
BOFA
10/13/16
NO CHANGE
Target $48
BOFA
Buy
'Healing process' may now start for Wells shares, BofA/Merrill says
BofA/Merrill analyst Erika Najarian believes the departure of CEO, Chairman and President John Stumpf could begin a "healing process" for the shares of Wells Fargo. Consensus feedback from investors post the Congressional hearings is that Stumpf retiring may be a necessary step for the bank to begin putting the cross-sell controversy behind it, Najarian tells investors in a research note. The analyst expects the shares to react positively today on the news. She has a Buy rating on Wells Fargo with a $48 price target. The shares are down 9c to $45.23 in pre-market trading.

TODAY'S FREE FLY STORIES

GE

General Electric

$27.55

-0.23 (-0.83%)

18:05
06/22/17
06/22
18:05
06/22/17
18:05
Hot Stocks
Concept Laser, LAUAK sign LOI for additive manufacturing collaboration »

Concept Laser, a GE…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Jun

  • 02

    Oct

BBBY

Bed Bath & Beyond

$33.74

0.08 (0.24%)

18:05
06/22/17
06/22
18:05
06/22/17
18:05
Hot Stocks
Breaking Hot Stocks news story on Bed Bath & Beyond »

Bed Bath & Beyond…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Jun

  • 29

    Jun

OKE

Oneok

$47.79

0.38 (0.80%)

, OKS

Oneok Partners

$46.94

0.44 (0.95%)

17:59
06/22/17
06/22
17:59
06/22/17
17:59
Hot Stocks
Oneok and Oneok Partners merger recommended by two proxy advisory firms »

Oneok (OKE) and Oneok…

OKE

Oneok

$47.79

0.38 (0.80%)

OKS

Oneok Partners

$46.94

0.44 (0.95%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

GE

General Electric

$27.55

-0.23 (-0.83%)

17:55
06/22/17
06/22
17:55
06/22/17
17:55
Conference/Events
Economic Club of New York to host a meeting »

The Economic Club of New…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Jun

  • 02

    Oct

SGH

Smart Global

$16.20

0.45 (2.86%)

, IDRA

Idera Pharmaceuticals

$1.73

0.02 (1.17%)

17:52
06/22/17
06/22
17:52
06/22/17
17:52
Hot Stocks
On The Fly: After Hours Movers »

UP AFTER EARNINGS: Smart…

SGH

Smart Global

$16.20

0.45 (2.86%)

IDRA

Idera Pharmaceuticals

$1.73

0.02 (1.17%)

BAC

Bank of America

$22.93

-0.2 (-0.86%)

BBBY

Bed Bath & Beyond

$33.74

0.08 (0.24%)

SONC

Sonic

$27.50

-0.02 (-0.07%)

AMSWA

American Software

$11.97

0.9 (8.13%)

OCUL

Ocular Therapeutix

$11.54

0.5 (4.53%)

PIR

Pier 1 Imports

$5.14

0.08 (1.58%)

WSM

Williams-Sonoma

$47.18

0.48 (1.03%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Jun

  • 22

    Jun

  • 22

    Jun

  • 22

    Jun

  • 22

    Jun

  • 28

    Jun

  • 29

    Jun

  • 19

    Jul

BBBY

Bed Bath & Beyond

$33.74

0.08 (0.24%)

17:52
06/22/17
06/22
17:52
06/22/17
17:52
Hot Stocks
Breaking Hot Stocks news story on Bed Bath & Beyond »

Bed Bath & Beyond…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Jun

  • 29

    Jun

SUN

Sunoco

$30.11

0.69 (2.35%)

17:51
06/22/17
06/22
17:51
06/22/17
17:51
Hot Stocks
Sunoco CEO Bob Owens to retire, Joe Kim named COO »

Sunoco announced that…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

NVS

Novartis

$86.34

3.78 (4.58%)

, TMO

Thermo Fisher

$175.47

-0.13 (-0.07%)

17:48
06/22/17
06/22
17:48
06/22/17
17:48
Hot Stocks
Novartis: FDA approves Tafinlar-Mekinist combo in non-small cell lung cancer »

Novartis (NVS) announced…

NVS

Novartis

$86.34

3.78 (4.58%)

TMO

Thermo Fisher

$175.47

-0.13 (-0.07%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 26

    Jun

  • 12

    Jul

TMO

Thermo Fisher

$175.47

-0.13 (-0.07%)

, LH

LabCorp

$150.34

4.13 (2.82%)

17:34
06/22/17
06/22
17:34
06/22/17
17:34
Hot Stocks
Thermo Fisher says FDA grants premarket approval for Oncomine Dx Target Test »

Thermo Fisher (TMO)…

TMO

Thermo Fisher

$175.47

-0.13 (-0.07%)

LH

LabCorp

$150.34

4.13 (2.82%)

NEO

NeoGenomics

$8.70

0.21 (2.47%)

CGIX

Cancer Genetics

NVS

Novartis

$86.34

3.78 (4.58%)

PFE

Pfizer

$34.06

0.18 (0.53%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Jun

  • 26

    Jun

  • 11

    Jul

  • 12

    Jul

  • 02

    Aug

  • 27

    Aug

NGHC

National General

17:32
06/22/17
06/22
17:32
06/22/17
17:32
Syndicate
Breaking Syndicate news story on National General »

National General files to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 26

    Jun

  • 27

    Jun

NG

NovaGold

$4.42

0.13 (3.03%)

, ABX

Barrick Gold

$16.09

0.35 (2.22%)

17:29
06/22/17
06/22
17:29
06/22/17
17:29
Hot Stocks
NovaGold and Barrick Gold to advance Donlin Gold project with $8M drill program »

NovaGold (NG) and partner…

NG

NovaGold

$4.42

0.13 (3.03%)

ABX

Barrick Gold

$16.09

0.35 (2.22%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Jun

  • 27

    Jul

PRXL

Parexel

$87.11

-0.14 (-0.16%)

17:29
06/22/17
06/22
17:29
06/22/17
17:29
Hot Stocks
Breaking Hot Stocks news story on Parexel »

Starboard liquidates…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 26

    Jun

BBBY

Bed Bath & Beyond

$33.74

0.08 (0.24%)

17:28
06/22/17
06/22
17:28
06/22/17
17:28
Hot Stocks
Breaking Hot Stocks news story on Bed Bath & Beyond »

Bed Bath & Beyond…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Jun

  • 29

    Jun

LMT

Lockheed Martin

$280.43

-2.56 (-0.90%)

17:27
06/22/17
06/22
17:27
06/22/17
17:27
Hot Stocks
Lockheed Martin awarded $130.8M government contract »

Lockheed Martin Rotary…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

GD

General Dynamics

$201.26

-2.63 (-1.29%)

17:26
06/22/17
06/22
17:26
06/22/17
17:26
Hot Stocks
General Dynamics' Electric Boat awarded $203M government contract »

Electric Boat Corp.,…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

AAL

American Airlines

$48.97

0.54 (1.12%)

17:23
06/22/17
06/22
17:23
06/22/17
17:23
Periodicals
Breaking Periodicals news story on American Airlines »

American Airlines CEO…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Jun

  • 26

    Jun

  • 07

    Jul

QSR

Restaurant Brands

$61.93

0.08 (0.13%)

17:21
06/22/17
06/22
17:21
06/22/17
17:21
Periodicals
Restaurant Brands to cut use of antibiotics in chicken supply, Reuters reports »

Restaurant Brands, the…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Jun

EMR

Emerson

$58.73

0.09 (0.15%)

17:17
06/22/17
06/22
17:17
06/22/17
17:17
Periodicals
Emerson in talks to buy software firm Paradigm, Bloomberg says »

Emerson said to be in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

TEVA

Teva

$32.52

1.47 (4.73%)

17:15
06/22/17
06/22
17:15
06/22/17
17:15
Conference/Events
Teva management to meet with Maxim »

Institutional dinner to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Jun

  • 30

    Aug

BBBY

Bed Bath & Beyond

$33.74

0.08 (0.24%)

17:10
06/22/17
06/22
17:10
06/22/17
17:10
Hot Stocks
Bed Bath & Beyond says gross margin approximately 36.5% in Q1 »

Says Q1 EPS ot 53c…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Jun

  • 29

    Jun

LC

LendingClub

$5.70

0.17 (3.07%)

17:05
06/22/17
06/22
17:05
06/22/17
17:05
Hot Stocks
LendingClub sees using club structure for future transactions »

LendingClub closed its…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

TFX

Teleflex

$204.35

0.9 (0.44%)

17:03
06/22/17
06/22
17:03
06/22/17
17:03
Hot Stocks
Teleflex says subsidiary issues recall of Venture catheters »

Teleflex announced that a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Jun

ALLY

Ally Financial

$20.39

0.34 (1.70%)

, AXP

American Express

$82.25

0.04 (0.05%)

17:01
06/22/17
06/22
17:01
06/22/17
17:01
Hot Stocks
All 34 banks exceed minimum requirements of Fed Stress Test »

Shares of big banks were…

ALLY

Ally Financial

$20.39

0.34 (1.70%)

AXP

American Express

$82.25

0.04 (0.05%)

BNPQY

BNP Paribas

$34.42

-0.18 (-0.52%)

BAC

Bank of America

$22.93

-0.2 (-0.86%)

BNK

C1 Financial

BBT

BB&T

$43.34

-0.31 (-0.71%)

BBVA

Banco Bilbao

$8.13

-0.02 (-0.25%)

BMO

Bank of Montreal

$70.67

1.21 (1.74%)

COF

Capital One

$80.39

-0.49 (-0.61%)

CIT

CIT Group

$47.85

0.04 (0.08%)

C

Citi

$63.62

-0.21 (-0.33%)

CFG

Citizens Financial

$34.98

-0.22 (-0.63%)

CMA

Comerica

$71.42

-0.9 (-1.24%)

DB

Deutsche Bank

$16.74

-0.16 (-0.95%)

DFS

Discover

$60.24

-0.12 (-0.20%)

FITB

Fifth Third

$25.14

-0.25 (-0.98%)

GS

Goldman Sachs

$219.77

-2.72 (-1.22%)

HSBC

HSBC

$43.31

-0.16 (-0.37%)

HBAN

Huntington Bancshares

$12.94

-0.12 (-0.92%)

JPM

JPMorgan

$87.02

-0.1 (-0.11%)

KEY

KeyCorp

$18.20

-0.19 (-1.03%)

MTB

M&T Bank

$159.49

-1.54 (-0.96%)

MS

Morgan Stanley

$44.61

-0.3 (-0.67%)

MTU

Mitsubishi UFJ

$6.48

0.06 (0.93%)

NTRS

Northern Trust

$94.34

-0.05 (-0.05%)

PNC

PNC Financial

$120.76

-1.57 (-1.28%)

RF

Regions Financial

$13.84

-0.12 (-0.86%)

SAN

Banco Santander

$6.51

-0.03 (-0.46%)

STT

State Street

$88.68

-0.7 (-0.78%)

STI

SunTrust

$54.73

-0.56 (-1.01%)

TD

Toronto-Dominion

$49.32

0.51 (1.04%)

USB

U.S. Bancorp

$51.30

-0.7 (-1.35%)

WFC

Wells Fargo

$52.49

-0.49 (-0.92%)

ZION

Zions Bancorp

$42.30

-0.03 (-0.07%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Jun

  • 26

    Jun

  • 14

    Jul

  • 14

    Jul

  • 14

    Jul

  • 18

    Jul

  • 19

    Jul

  • 19

    Jul

  • 20

    Jul

  • 20

    Jul

  • 21

    Jul

  • 21

    Jul

  • 21

    Jul

  • 25

    Jul

  • 27

    Jul

  • 12

    Oct

  • 12

    Oct

  • 17

    Oct

  • 18

    Oct

  • 19

    Oct

  • 15

    Jan

  • 17

    Jan

  • 13

    Apr

  • 14

    Jul

  • 12

    Oct

HAE

Haemonetics

$39.18

-0.91 (-2.27%)

17:01
06/22/17
06/22
17:01
06/22/17
17:01
Hot Stocks
Haemonetics forms Scientific Advisory Council »

Haemonetics announced the…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Jun

ASCMA

Ascent Capital

$15.00

0.25 (1.69%)

16:55
06/22/17
06/22
16:55
06/22/17
16:55
Hot Stocks
Breaking Hot Stocks news story on Ascent Capital »

Gabelli cuts stake in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Jun

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.