$WFC

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Update: US Equity Futures Drop Pre-Bell as Iran Says Strait of Hormuz Closed Once Again, Oil Prices Jump

(Updates with recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were lower pre-bell Monday as hostilities continued to re-escalate in the Middle East and Iran declared the Strait of Hormuz once again closed, driving up oil prices.Dow Jones Industrial Average futures were 0.1% lower, S&P 500 futures were down 0.4%, and Nasdaq futures were 1.2% lower.The US and Iran traded heavy missile and drone attacks over the weekend, with the US military saying they hit Iranian military facilities, while Iran's Revolutionary Guards said they had struck US installations in Bahrain, Kuwait, Oman and Jordan.Iran, which is seeking to set up a permanent fee and permit system for ships transiting the Strait of Hormuz, said Sunday that the waterway remains closed until "stability and calm" is restored.In a post on X, US Central Command said that its forces are "postured and prepared to ensure that freedom of navigation remains available to commercial shipping."Traders await a slew of earnings releases this week, including results from major US banks JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), and Citigroup (C) on Tuesday; Johnson & Johnson (JNJ), Morgan Stanley (MS), and BlackRock (BLK) on Wednesday; and Taiwan Semiconductor Manufacturing (TSM), UnitedHealth Group (UNH), GE Aerospace (GE), and Netflix (NFLX) on Thursday.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4.3% at $79.27 per barrel and US West Texas Intermediate crude 4.2% higher at $74.41 per barrel.Federal Reserve board members Michelle Bowman and Christopher Waller are slated to speak on Monday.In other world markets, Japan's Nikkei closed 1.9% lower, Hong Kong's Hang Seng ended 0.2% higher, and China's Shanghai Composite finished 2.1% lower. Meanwhile, the UK's FTSE 100 was down 0.2%, and Germany's DAX index was flat in Europe's early afternoon session.In equities, Micron Technology (MU), AMD (AMD), and Intel (INTC) stocks were lower as part of a broader decline in the semiconductor sector. Micron shares fell 5.5%, AMD stock was down 2.9%, and Intel shares were 3.5% lower.On the winning side, the increase in oil prices lifted energy-related stocks. TotalEnergies (TTE) shares were up 1.6%, ConocoPhillips (COP) stock was 1.9% higher, and BP (BP) shares rose 1.6%. Accenture (ACN) stock was up 1% after the company said its subsidiary Accenture Capital on Friday closed the sale of five tranches of notes totaling approximately $5 billion.

Dow JonesNasdaq CompositeS&P 500$ACN$AMD$BAC$BLK$BP$C$COP$GE$GS$INTC$JNJ$JPM$MS$MU$NFLX$TSM$TTE$UNH$WFC

Japan17d ago

US Equity Futures Drop Pre-Bell as Iran Says Strait of Hormuz Closed Once Again, Oil Prices Jump

US equity futures were lower pre-bell Monday as hostilities continued to re-escalate in the Middle East and Iran declared the Strait of Hormuz once again closed, driving up oil prices.Dow Jones Industrial Average futures were down 0.1%, S&P 500 futures were down 0.3%, and Nasdaq futures were 0.9% lower.The US and Iran traded heavy missile and drone attacks over the weekend, with the US military saying they hit Iranian military facilities, while Iran's Revolutionary Guards said they had struck US installations in Bahrain, Kuwait, Oman and Jordan.Iran, which is seeking to set up a permanent fee and permit system for ships transiting the Strait of Hormuz, said Sunday that the waterway remains closed until "stability and calm" is restored.In a post on X, US Central Command said that its forces are "postured and prepared to ensure that freedom of navigation remains available to commercial shipping."Traders await a slew of earnings releases this week, including results from major US banks JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), and Citigroup (C) on Tuesday; Johnson & Johnson (JNJ), Morgan Stanley (MS), and BlackRock (BLK) on Wednesday; and Taiwan Semiconductor Manufacturing (TSM), UnitedHealth Group (UNH), GE Aerospace (GE), and Netflix (NFLX) on Thursday.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 3.4% at $78.59 per barrel and US West Texas Intermediate crude 3.4% higher at $73.88 per barrel.Federal Reserve board members Michelle Bowman and Christopher Waller are slated to speak on Monday.

Dow JonesNasdaq CompositeS&P 500$BAC$BLK$C$GE$GS$JNJ$JPM$MS$NFLX$TSM$UNH$WFC

US Markets17d ago

Equity Futures Down Amid Middle East Tensions; Key Earnings on Deck

The benchmark US equity measures were pointing lower before the opening bell Monday amid rising tensions in the Middle East, as markets awaited key inflation data and some major corporate earnings due later this week.The S&P 500 declined 0.4% and the Nasdaq was off 1.2% in premarket activity, while the Dow Jones Industrial Average lost 0.1%. The three main indexes closed higher Friday.The US and Iran continued to exchange airstrikes over the weekend, news outlets reported.On Sunday, the US Central Command said it completed a new wave of strikes against Tehran at multiple locations, after conducting attacks a day earlier in response to the country targeting another commercial ship transiting through the Strait of Hormuz.Iran responded by targeting US military facilities in Jordan, Kuwait, Bahrain, Qatar and Oman, according to local state media. Iran's Islamic Revolutionary Guard Corps also reportedly said it closed the strait until further notice, though the US military disputed the claim."The Strait of Hormuz is open to all vessels seeking to lawfully transit the international waterway," CENTCOM said on the X platform. "Iran does not control the strait."West Texas Intermediate crude oil was up 3.4% at $73.81 a barrel before the open, while Brent gained 3.3% to $78.50.With no major economic data scheduled for Monday, traders await the official US consumer price index for June, scheduled for Tuesday, followed by data on wholesale prices and retail sales for the same month on Wednesday and Thursday, respectively.Federal Reserve Vice Chair for Supervision Michelle Bowman is scheduled to speak at 5:25 am ET Monday, while Fed Governor Christopher Waller speaks at 12:30 pm. Fed Chair Kevin Warsh's testimony is due later in the week.US Treasury yields were mixed in premarket action Monday, with the 10-year rate little changed at 4.57% and the two-year rate rising one basis point to 4.22%.Banking giants JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs (GS), Wells Fargo (WFC), Morgan Stanley (MS), Citigroup (C) are all expected to release their latest financial results later this week, along with other major corporations, including Johnson & Johnson (JNJ), UnitedHealth (UNH) and Netflix (NFLX).Taiwan Semiconductor Manufacturing's (TSM) US-listed shares were up 0.1% pre-bell. Micron Technology (MU) fell 5.6%, while Nvidia (NVDA) decreased 1.7%.Gold dipped 0.9% to $4,075 per troy ounce, while bitcoin dropped nearly 2% to $62,893.

Dow JonesNasdaq CompositeS&P 500$BAC$C$GS$JNJ$JPM$MS$MU$NFLX$NVDA$TSM$UNH$WFC

Asia Markets17d ago

Strait of Hormuz Squeezes Wall Street Pre-Bell; Asia, Europe Off

Wall Street futures pointed lower pre-bell Monday as the status of the Strait of Hormuz remained uncertain, and as crude prices gained.Tehran said the key waterway is closed, but US officials have said they are keeping shipping lanes open.In the futures, the S&P 500 fell 0.3%, the Nasdaq declined 0.9% and the Dow Jones was steady.West Texas Intermediate crude oil traded up 3.2% at $73.72 in morning action.Meanwhile, traders gird for a heavy week of earnings releases, including premarket reports on Tuesday from financial behemoths JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), and Citigroup (C).In addition, Federal Reserve Chair Kevin Warsh's first semi-annual monetary policy reports to Congress are slated for Tuesday and Wednesday, possibly signal events for gauging the mood of the central banker.Investors are also looking ahead to the June consumer price index (CPI) release from Washington on Tuesday, and the June national retail sales bulletin on Thursday.Asian exchanges traded mostly lower overnight, led by a 9% decline on Seoul's KOSPI Index, when semiconductor giants Samsung Electronics and SK Hynix took hits.European bourses tracked modestly south midday on the continent.Federal Reserve board members Michelle Bowman and Christopher Waller are slated to speak on Monday.In premarket action, Bitcoin traded at $63,035, and 10-year US Treasuries offered 4.57%. Spot gold commanded $4,068 an ounce.

Dow JonesNasdaq CompositeS&P 500$BAC$C$GS$JPM$WFC

Asia Markets17d ago

US Equity Investors to Focus on Banks Kicking Off Q2 Earnings, Warsh's Take on Inflation, Worsening Geopolitics This Week

US equity investors will focus on Q2 earnings this week, with big money-centre banks kicking off the earnings season in earnest, and consumer price inflation data amid an escalation of tensions with Iran.* JPMorgan Chase (JPM), Citibank (C), Bank of America (BAC), Goldman Sachs (GS), Morgan Stanley (MS), and Wells Fargo (WFC) are among banks reporting quarterly earnings, with investors expecting results to help counter tense geopolitics. ASML (ASML) and Taiwan Semiconductor Manufacturing (TSM) are among the others reporting, giving investors a fresh take on the state of the so-called AI trade.* Investors will look out for consumer and wholesale price inflation data amid the market pricing in at least one interest rate increase this year. Additionally, Federal Chair Kevin Warsh's testimony is due, alongside retail sales, Michigan consumer sentiment, and inflation expectations.* The combined probability that rates will be higher by 25 or 50 basis points from current levels by December is around 70%, according to the CME FedWatch tool. Investors will parse Warsh's testimony, which comes amid a worsening geopolitical environment and higher crude oil prices. Fed's June meeting minutes, released last week, showed "quite a divide" on the rate path given the impact of the war in Iran on inflation, a Stifel note said on Friday.* The US and Iran each asserted Monday they controlled the Strait of Hormuz after a weekend of attacks stretching across the wider Middle East, further threatening any diplomacy to end the war, the Associated Press reported early Monday.* Iran and the US are nearly at the midway point of a 60-day period that was supposed to result in a permanent end to the war, the news report said. Instead, it has devolved into a series of attacks over the strait and its future, worrying world leaders that the Iran war could fully resume, it added.* Early Monday, West Texas Intermediate crude oil futures jumped 3.4% to $73.87 a barrel.

Dow JonesNasdaq CompositeS&P 500$ASML$BAC$C$GS$JPM$MS$TSM$WFC

US Markets23d ago

Major US Banks' Second-Quarter Earnings Poised for Upside, BofA Says

Major US banks could top second-quarter earnings expectations amid gains from capital markets activity, with JPMorgan Chase (JPM) and Wells Fargo (WFC) seen as having the "most interesting" setups heading into the results, BofA Securities said Tuesday.JPMorgan, Wells Fargo, Citigroup (C), Goldman Sachs (GS), Morgan Stanley (MS), Bank of New York Mellon (BNY), State Street (STT), and Northern Trust (NTRS) may also raise their guidance for the second half of the year and 2027, the brokerage said. Several mega-cap banks are scheduled to release their quarterly results next week.BofA revised its second-quarter earnings-per-share estimates for the eight banks by 1.8% on average, indicating year-over-year growth of 27%."Capital markets should drive EPS beats, but it is the non-capital markets results that are more likely to drive stock price action," BofA analyst Ebrahim Poonawala said in a note to clients. "While (Wall) Street tends to look past trading/investment banking beats, potential for positive net interest income revisions and stronger wealth management flows likely get rewarded despite a high bar."JPMorgan and Wells Fargo have the "most interesting" setups heading into the latest prints, according to the note.JPMorgan's stock offers "the most asymmetric risk/reward," BofA said. The brokerage revised its second-quarter EPS estimate for the banking giant to $5.59 from $5.48 amid robust capital markets revenue growth. BofA raised its price target on the stock to $408 from $362.For Wells Fargo, the brokerage continues to expect second-quarter EPS of $1.72. It raised its price target on the lender's shares to $102 from $95. BofA, however, said investors must regain confidence that Wells Fargo can deliver superior growth without materially deviating from its 17% to 18% ROTCE guidance.Citigroup's stock is discounting a "significant" improvement in its return on tangible common equity, which could lead investors to seek better entry points for the stock, BofA said. The brokerage is now projecting second-quarter EPS of $2.65 for the bank, up from $2.60 previously. BofA raised its price target on the stock to $176 from $170.For Goldman, the brokerage now expects second-quarter EPS of $14.11, up from $13.18 previously. BofA boosted its price target on the stock to $1,150 from $1,050. "While there is little disagreement on the strong revenue backdrop for (Goldman), we believe investors will need to gain confidence in EPS/ROE defensibility, in order to gain comfort in holding the stock following the (year-to-date) outperformance," Poonawala said.BofA raised its second-quarter EPS forecast for Morgan Stanley to $2.81 from $2.71, also citing stronger capital markets revenue growth. The brokerage lifted its price target on the shares to $250 from $225.Price: $337.84, Change: $+0.11, Percent Change: +0.03%

$BNY$C$GS$JPM$MS$NTRS$STT$WFC

Wire29d ago

Banks Set for Second-Quarter Profit Growth Amid Net Interest, Noninterest Income Gains, RBC Says

US banks are expected to report double-digit growth in second-quarter core earnings, buoyed by factors including net interest revenue and core noninterest income, RBC Capital Markets said in a Wednesday note.RBC is projecting a 19% annual jump in banks' median core earnings per share from a year earlier. Consensus estimates point to a 21% increase, according to the brokerage."Year-over-year, the increase should be driven by higher net interest revenue and core noninterest income, lower loan loss provisions and positive operating leverage," RBC co-Head of Global Financials Research Gerard Cassidy wrote.Net interest income is seen rising nearly 9.6%, with noninterest income estimates pointing to an 8.7% year-over-year advance. The brokerage assumes 9.5% loan growth, driven by commercial and industrial, as well as consumer loans.Provision for credit losses is expected to fall 2.2% annually."Credit losses should remain manageable in the (second quarter) and we expect that trend to continue into (year-end) 2026," Cassidy said.JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs (GS), Citigroup (C) and Morgan Stanley (MS) are projected to report a 15% jump in market revenue and a 25% surge in investment banking.RBC's 12-month outlook on banks continues to be positive amid expectations for stronger loan and NII growth.Bank earnings, including results from Wells Fargo (WFC), are due out mid-July.Price: $329.42, Change: $+2.09, Percent Change: +0.64%

$BAC$C$GS$JPM$MS$WFC

US Markets31d ago

Major Banks Poised for Strong Quarterly Results, Outlook, Deutsche Bank Says

US large-cap banks are expected to report strong second-quarter earnings and issue upbeat guidance, with Huntington Bancshares (HBAN), US Bancorp (USB), and Wells Fargo (WFC) seen as top picks, Deutsche Bank said Monday.The brokerage's per-share earnings estimates for major banks are 2% above Wall Street's views on average, as others likely have not factored in the intra-quarter guidance updates from lenders. Deutsche Bank said it's "most above consensus" on Citigroup (C) and JPMorgan Chase (JPM)."Several banks tweaked up their quarterly (net interest income) expectations in early June (driven by strong loan growth) and pointed to better-than-expected investment banking and trading/markets (revenue)," Deutsche Bank analyst Matt O'Connor said in a note to clients.Bank earnings are scheduled to kick off July 14, with JPMorgan, Bank of America (BAC), Citigroup, Goldman Sachs (GS), and Wells Fargo slated to report.Huntington trends likely stabilized in the June quarter, with results seen improving in the second half of the year, according to Deutsche Bank."We believe key issues seem to be resolving, including questions surrounding loan growth, liquidity, and deal risk," O'Connor said. "(Huntington) shares trade at the lowest multiple among our coverage despite a solid long-term track record of both deal integrations and organic growth."US Bancorp is experiencing improved execution under Chief Executive Gunjan Kedia and an upward bias to its full-year revenue outlook following consecutive strong quarterly performances. The lender's recently completed the acquisition of financial services firm BTIG is well-timed due to broad strength in equity trading, while the bank's payments division is also positioned to benefit from strong retail sales volumes, O'Connor said.Wells Fargo shares have lagged its peers so far this year following a couple of disappointing quarters regarding both financial results and outlook, Deutsche Bank said. However, first-quarter trends were better than initially perceived."Momentum has also been building more than the market appreciates in our view post the lifting of the asset cap in June of 2025 and we expect this to be more evident in (second quarter)/beyond," O'Connor wrote.Deutsche Bank's higher EPS outlook for Citigroup factors in a revenue boost from the recent transfer of American Airlines (AAL) card receivables from Barclays (BCS), according to the note.Price: $17.74, Change: $-0.05, Percent Change: -0.28%

$AAL$BAC$BCS$C$GS$HBAN$JPM$USB$WFC

Wire31d ago

Liquidity Services Extends Loan Agreement With Wells Fargo

Liquidity Services (LQDT) said it has modified an existing loan deal with Wells Fargo (WFC) to prolong the maturity date of the facility.The amendment moves the expiration of the arrangement to March 31, 2028, from the previous deadline of March 31, 2027, the company said in regulatory filing late Friday.The company retains access to a maximum borrowing limit of $35 million until the date of expiry for general corporate purposes, Liquidity Services said.Shares of the company were up 1.6% in Monday trading.Price: $39.72, Change: $+0.63, Percent Change: +1.61%

$LQDT$WFC

Wire45d ago

Wells Fargo Named Preferred Mortgage Lender for ICON

Wells Fargo (WFC) said Monday it has been named a preferred mortgage lender for ICON, expanding financing options for buyers of 3D-printed homes.Wells Fargo Home Mortgage will offer a 50-basis-point lender credit to qualified buyers who finance the purchase of an ICON home through the bank.The partnership aims to expand access to financing and support the adoption of 3D-printed construction as a potential solution to housing supply and affordability challenges.Price: $84.36, Change: $+0.63, Percent Change: +0.75%

$WFC

Commodities49d ago

Cypress Creek Energy Closes $3.5 Billion Financing for US Solar, Storage Project

Cypress Creek Energy said on Thursday it has secured $3.5 billion in financing for the first two phases of its Steel River Energy Center in Arkansas, one of the largest solar and battery storage developments in the US.The renewables firm said the financing supports the construction and early operation of Phases 1 and 2 of the three-stage project, which will deliver 1.63 gigawatts of solar capacity and 1.9 gigawatt-hours of battery storage.Full buildout by 2029 is expected to reach 2.45 GW of solar and 2.9 GWh of storage, Cypress Creek said in a statement.The deal was backed by a consortium of global banks, including Barclays (BCS), BNP Paribas, Santander, and Wells Fargo (WFC), which acted as coordinating lead arrangers and joint bookrunners.Cypress Creek said that long-term power sales for the first two phases have been secured through a virtual power purchase agreement with an investment-grade corporate counterparty, providing revenue certainty for the project.The company develops, finances, owns, and operates utility-scale solar and storage assets across the United States. It said it has commercialized 19 GW of projects to date and maintains a development pipeline of about 19 GW, with over 6.8 GW currently operating or under construction.Price: $81.62, Change: $-0.35, Percent Change: -0.43%

$BCS$WFC

Wire52d ago

Fair Isaac Authorizes $2 Billion Share Buyback, Enters $1.5 Billion Loan Agreement

Fair Isaac (FICO) said Monday its board approved an open-ended stock buyback program of up to $2 billion to replace its previous authorization.The company also said it amended its existing credit agreement to obtain a $1.5 billion incremental term loan on June 5 to fund an accelerated share purchase agreement with Wells Fargo (WFC) Securities for $1.5 billion of its common stock under the new authorization.Fair Isaac said it will deliver an upfront payment of $1.5 billion to Wells Fargo Securities Monday and anticipates to initially receive roughly 1.1 million common shares. The accelerated share purchase deal is expected to conclude on Sept. 30, the company said.Shares of the company were up more than 1% in Monday trading.Price: $1150.07, Change: $+12.72, Percent Change: +1.12%

$FICO$WFC

Sectors55d ago

Sector Update: Financial

Financial stocks were lower in Friday afternoon trading, with the NYSE Financial Index decreasing 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.2%.The Philadelphia Housing Index was down 0.7%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.9%.Bitcoin (BTC-USD) was down 3.9% to $61,053, and the yield for 10-year US Treasuries rose 6.1 basis points to 4.536%.In corporate news, JPMorgan Chase (JPM), Bank of America (BAC), Citigroup (C) and Wells Fargo (WFC) plan to launch a tokenized deposit network in H2 2027 to connect traditional banking systems with blockchain technology, The Wall Street Journal reported Friday. JPMorgan shares fell 0.3%, Bank of America shares dropped 0.8%, Citigroup shares were down 2.6%, and Wells Fargo shed 0.1%.

$BAC$C$JPM$WFC

Wire57d ago

Market Chatter: JPMorgan Chase to Launch $1.85 Billion Debt Financing for Belden's Ruckus Acquisition

JPMorgan Chase (JPM) is preparing to launch a $1.85 billion debt financing package to back Belden's (BDC) acquisition of Ruckus Network, Bloomberg reported Wednesday, citing people familiar with the situation.The leveraged loan financing is expected to be marketed to institutional investors imminently, the people told Bloomberg.Belden agreed in April to acquire Ruckus Network from Vistance Networks (VISN) for about $1.85 billion, obtaining fully committed debt financing from JPMorgan. The bank has since brought additional lenders into the lineup, including Wells Fargo (WFC), the report added.Wells Fargo declined to comment, while JPMorgan Chase, Belden and Ruckus Network didn't immediately reply to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $300.21, Change: $-0.75, Percent Change: -0.25%

$BDC$JPM$VISN$WFC

Sectors78d ago

Sector Update: Financial Stocks Fall Wednesday

Financial stocks fell Wednesday with the NYSE Financial Index dropping 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 1.1%.The Philadelphia Housing Index declined 1.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) lost 0.8%.Bitcoin (BTC-USD) fell 1.2% to $79,517, and the yield for 10-year US Treasuries rose 1.8 basis points to 4.48%.In economic news, the US producer price index for April rose 1.4%, the fastest pace in four years, after a 0.7% gain in March, according to the Bureau of Labor Statistics. The increase topped the 0.5% gain expected in a Bloomberg poll.In corporate news, Two Harbors Investment (TWO) said its board rejected a revised unsolicited takeover proposal from UWM (UWMC), saying the bid was inferior to its existing merger agreement with CrossCountry Mortgage. Two Harbors shares fell 1.1%, and UWM dropped 4.3%.Wells Fargo (WFC) shares fell 2.2%. The company is marketing investment-grade bonds in as many as three parts, with maturities between three and six years, Bloomberg reported.Blackstone (BX) has withdrawn from talks for a proposed $4 billion deal involving New World Development after negotiations broke down over control of the company, Bloomberg reported. Blackstone shares fell 2.3%.JPMorgan Chase (JPM) reshuffled leadership in its investment-banking unit amid a rebound in global dealmaking activity, according to media reports. JPMorgan shares fell 1.5%.

$BX$JPM$TWO$UWMC$WFC

Sectors78d ago

Sector Update: Financial Stocks Decline Wednesday Afternoon

Financial stocks were lower in Wednesday afternoon trading, with the NYSE Financial Index decreasing 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 1%.The Philadelphia Housing Index was falling 1.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.7%.Bitcoin (BTC-USD) was declining 1.4% to $79,278, and the yield for 10-year US Treasuries was rising 2 basis points to 4.48%.In economic news, the US Producer Price Index rose 1.4% in April from a 0.7% gain in March, according to the Bureau of Labor Statistics, beating the 0.5% increase expected in a Bloomberg poll. After excluding food and energy prices, core PPI surged 1.0% from 0.2%, above the 0.3% advance anticipated.In corporate news, Wells Fargo (WFC) shares were down 1.7%. The company is marketing investment-grade bonds in as many as three parts, with maturities between three and six years, Bloomberg reported.Blackstone (BX) has withdrawn from talks for a proposed $4 billion deal involving New World Development after negotiations broke down over control of the company, Bloomberg reported. Blackstone shares fell 2.4%.JPMorgan Chase (JPM) has appointed global head of investment banking coverage Dorothee Blessing, global head of capital markets Kevin Foley and financial institutions group co-head Jared Kaye as co-heads of global investment banking, according to media reports. JPMorgan shares were down 1.1%.

$BX$JPM$WFC

Sectors78d ago

Sector Update: Financial

$WFC

Treasury78d ago

Update: Market Chatter: Wells Fargo Offering Investment-Grade Bonds

(Updates with Wells Fargo declines to comment in the last paragraph.)Wells Fargo (WFC) is marketing investment-grade bonds in as many as three parts, with maturities between three and six years, Bloomberg reported Wednesday, citing a person familiar with the matter.The longest-maturity bond is being offered with a spread of about 1 percentage point above US Treasuries, the report said, adding proceeds are for general corporate purposes.Wells Fargo declined to comment to.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $73.61, Change: $-1.57, Percent Change: -2.09%

$WFC

Wire78d ago

Market Chatter: Wells Fargo Offering Investment-Grade Bonds

Wells Fargo (WFC) is marketing investment-grade bonds in as many as three parts, with maturities between three and six years, Bloomberg reported Wednesday, citing an unnamed source.The longest-tenored bond is being offered with a spread of about 1 percentage point above US Treasuries, the report said, adding proceeds from the bonds are for general corporate purposes.Bloomberg said the bond issuance comes a month after Wells Fargo reported weaker-than-expected Q1 results.Wells Fargo didn't immediately respond to a request for comment by.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $74.53, Change: $-0.65, Percent Change: -0.86%

$WFC

Wire85d ago

UBS Adjusts Wells Fargo Price Target to $105 From $113

Wells Fargo & Company (WFC) has an average rating of overweight and mean price target of $96.67, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $80.78, Change: $+0.89, Percent Change: +1.11%

$WFC

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