Market Moves
Wells Fargo Agrees to Pay $1 Billion to Settle Pension-Led Lawsuit
Mississippi’s public employees' fund, a Louisiana sheriffs’ fund and the state of Rhode Island were among the lead plaintiffs.
Tag: Wells Fargo
Asset Allocation
New York State Comptroller Files Diversity Proposals
Thomas DiNapoli is calling for more accountability from portfolio firms regarding corporate diversity, equity and inclusion.
Newsmakers
NYC Pension Funds Call for Greenhouse Gas Disclosure From 4 Major Banks
Shareholder proposals have been filed with Bank of America, Goldman Sachs, JPMorgan Chase and Royal Bank of Canada.
Newsmakers
A Coalition of Republican Attorneys General Targets Banks for Net-Zero Alliance Membership
AGs sent civil investigative demands to the six largest banks in the country to explore claims that the banks’ ESG pledges have harmed the energy sector.
Risk
Six Major Banks Join Fed Pilot Program to Improve Climate Risk Analysis
The firms will analyze the impact of hypothetical climate scenarios on specific portfolios and business strategies.
Newsmakers
Why Share Splits Are Hot in a Cold Market
Turns out splitting helps a stock’s price: Cue Amazon, Alphabet, and Tesla.
Risk
Economic Warning: Animal Spirits Aren’t in a Happy Place, Says Wells Fargo
Well-known index of investor sentiment has grown more and more negative of late.
Risk
Thank You, Fed: Some Bank Stocks Will Do Better Than Others
BofA selects 7 lenders that higher rates should benefit because they are mostly U.S.-centered.
Asset Allocation
Maybe the Drought Won’t Be That Bad for Ag Commodities
Big harvests outside the drought-stricken West may make up for a lot of the crop shortfalls, says Wells Fargo.
Research
Is the 10-Year Yield Telling Us About Inflation or the Economy? Neither, Says Well Fargo
The big dip may be forecasting exactly nothing, because other factors are making it drop, the bank argues.
Market Moves
Is the Big US Retail Sales Number Temporary?
Wells Fargo wonders about the surge’s staying power, citing Walmart’s blah coming-year guidance.
Market Moves
‘Forever’ Investor Buffett Ditches Stocks He Just Bought
Oracle’s Berkshire sells Barrick Gold and Pfizer, and expands Chevron stake despite his green leanings.
Regulation
Wells Fargo Ex-CEO Stumpf Pays $2.5 Million to Settle SEC Charges He Misled Investors
Former Community Bank head Carrie Tolstedt has also been charged by the regulator.
Market Moves
Ebbing M&A Activity May Just Be Rebounding, Says Wells Fargo
The economic slump has held down merger action in 2020.
Coronavirus - COVID-19
Wells Fargo Predicts 10-Year T-Note Will Rise Above 1%
Now at a 0.63% yield, the benchmark bond should move up due to better economic and virus news, says bank’s strategist.