Category: Wells
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Wells Fargo names Citi ‘dominant pick’, predicts stock to double in three years
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Written by Manya Saini (Reuters) – Citigroup shares could double in value over the next three years as the Wall Street lender’s profits rise, Wells Fargo analysts wrote in a note to clients on Friday, calling it a top brokerage pick in the big-bank sector. Chief Executive Jane Fraser has…
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Abbott, DexCom settlement ‘not a complete surprise,’ says Wells Fargo
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https://www.tipranks.com/news/the-fly/abbott-dexcom-settlement-not-a-complete-surprise-says-wells-fargo Wells Fargo Abbott notes (Abt) and Dexcom (DXCM) revealed that on December 20, they reached a settlement and entered into a cross-licensing agreement to resolve all pending patent litigation in the United States and Europe for a period of 10 years. Under the agreement, the two companies granted each…
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Google remedy proposals leave little room for settlement, says Wells Fargo
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https://www.tipranks.com/news/the-fly/google-remedy-proposals-leave-little-room-for-settlement-says-wells-fargo Wells Fargo notes that Google has submitted a court filing and company blog detailing proposed remedies in the search case brought by the Department of Justice. The company believes that Google’s proposals leave little room to negotiate a settlement with the Department of Justice and would likely guarantee an…
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JPMorgan, Wells Fargo, BofA facing federal lawsuit over Zelle payment network fraud
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A federal regulator sued JPMorgan Chase, Wells Fargo and Bank of America on Friday, alleging that the banks failed to protect hundreds of thousands of consumers from rampant fraud on the popular payments network Zelle, in violation of consumer financial laws. In the federal civil complaintThe Consumer Financial Protection Bureau…
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Crypto.com Files Suit Against SEC After Receiving Wells Notice
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On Tuesday, digital asset exchange Crypto.com became the latest target of the U.S. Securities and Exchange Commission (SEC), which has increasingly used a regulation-by-enforcement strategy over the past year. This latest action follows the SEC’s previous audit of trading platforms, including Robinhood, just a few months ago. Crypto.com accuses SEC…
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Crypto.com Files Suit Against SEC After Receiving Wells Notice
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On Tuesday, digital asset exchange Crypto.com became the latest target of the U.S. Securities and Exchange Commission (SEC), which has increasingly used a regulation-by-enforcement strategy over the past year. This latest action follows the SEC’s previous audit of trading platforms, including Robinhood, just a few months ago. Crypto.com accuses SEC…
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Now a good time to sell the Utilities rally, Wells Fargo says By Investing.com
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Investing.com – Wells Fargo analysts suggest that now is a good time for investors to consider selling given the recent rally in the utilities sector. This sector was among the best performing sectors since the beginning of the year until September 24, sharing the spotlight with high-growth sectors such as…
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Why Wells Fargo says investors have key decisions to make amid Fed easing cycle By Investing.com
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Investing.com – It may be time for investors to make key decisions about their alternative cash allocations and fixed income positions as the Federal Reserve begins a policy easing drive, according to analysts at Wells Fargo. In a note to clients, analysts said carrying cash provides investors with a steady…
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Selling season, election ahead, but keep an eye on ’25, says Wells Fargo By Investing.com
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Wells Fargo strategists believe investors should brace for more market volatility as the selling season approaches, which will be exacerbated by the upcoming election cycle. Historically, the period from late summer to early fall has been marked by significant declines in the stock market. Over the past seven years, the…
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Selling season, election ahead, but keep an eye on ’25, says Wells Fargo By Investing.com
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Wells Fargo strategists believe investors should brace for more market volatility as the selling season approaches, which will be exacerbated by the upcoming election cycle. Historically, the period from late summer to early fall has been marked by significant declines in the stock market. Over the past seven years, the…
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FTC slaps GameStop CEO with $1 million fine over Wells Fargo shares
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Gamestop Corp. CEO Ryan Cohen is set to pay a nearly $1 million fine for allegedly violating antitrust law by acquiring shares in Wells Fargo & Co. Cohen failed to file a form he was required to submit to antitrust agencies under the Hart-Scott-Rodino Act after his purchases of Wells…
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Stocks won’t hit new highs anytime soon and 3 things mean the market is fairly valued, Wells Fargo says
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Ian Ross Pettigrew/Getty, Tyler Lee/PA The S&P 500 is unlikely to hit new highs anytime soon, according to Wells Fargo. Strategists said a combination of headwinds could prevent further gains. The bank pointed to concerns surrounding a potential recession, artificial intelligence, and geopolitical uncertainty. Wells Fargo said the stock market’s…
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REIT performance is picking up but Wells Fargo says remain cautious on Real Estate By Investing.com
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Recent months have seen a strong rally in real estate investment trusts (REITs). From July 1 to August 16, 2024, the S&P 500 Real Estate Index rose 9.9%, outpacing the 1.4% gain in the Standard & Poor’s. Market expectations of a change in the Federal Reserve’s interest rate policy were…
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REIT performance is picking up but Wells Fargo says remain cautious on Real Estate By Investing.com
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Recent months have seen a strong rally in real estate investment trusts (REITs). From July 1 to August 16, 2024, the S&P 500 Real Estate Index rose 9.9%, outpacing the 1.4% gain in the Standard & Poor’s. Market expectations of a change in the Federal Reserve’s interest rate policy were…
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Crypto community on OpenSea Wells Notice: ‘Welcome to the club’
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Many pro-crypto voices have voiced opposition to Wells’ notice to NFT marketplace OpenSea on August 28, as the SEC’s sweeping crackdown has progressed unchecked. OpenSea was then named to the SEC’s chopping block just a week after Democratic presidential candidate Kamala Harris opened up about adopting crypto-friendly policies. News about…
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Crypto community on OpenSea Wells Notice: ‘Welcome to the club’
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Many pro-crypto voices have voiced opposition to Wells’ notice to NFT marketplace OpenSea on August 28, as the SEC’s sweeping crackdown has progressed unchecked. OpenSea was then named to the SEC’s chopping block just a week after Democratic presidential candidate Kamala Harris opened up about adopting crypto-friendly policies. News about…
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OpenSea Faces SEC Wells Notice Over NFT Classification As ‘Securities’
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On Wednesday, OpenSea, the largest marketplace for non-fungible tokens (NFTs), received a Wells notice from the U.S. Securities and Exchange Commission (SEC), indicating the regulator’s intent to take potential legal action, asserting that NFTs traded on the platform could be classified as securities. CEO Devin Finzer Responds to SEC Notice…
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Markets will remain range bound until November elections: Wells Fargo By Investing.com
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Wells Fargo analysts believe the U.S. stock market is likely to remain rangebound until the November election. The bank said the pound, which recently fell 9.7% from its July peak to its August low, was now stuck between key support and resistance levels. Wells Fargo describes this as “no man’s…
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SEC Update: Robinhood CEO Discloses Firm’s Reaction To Wells Notice
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Cryptocurrency trading platform Robinhood is still in talks with the US Securities and Exchange Commission (SEC), after A warning letter has been issued. By the Financial Regulatory Authority in May. in interview Amazon CEO Vlad Tenev revealed in an interview with Bloomberg TV that the company has filed a response…