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This basket consists of stocks that have attracted bad press.
Record demand for online grocery shopping amid the COVID-19 pandemic has sent the apps for grocery pickup and delivery services up the charts. Walmart Grocery, as a result, has now hit an all-time high in downloads -- grabbing the No. 1 ranking position across all Shopping apps in the U.S. on April 5, 2020, and surpassing Amazon by 20%, according to a new analysis from app intelligence firm App Annie. The Walmart Grocery application retained that No. 1 position for at least two days, the firm said, citing data from both the Google Play store and the Apple App Store, combined.
KlaymanToskes ("KT"), www.klaymantoskes.com, announced today that it is investigating damages sustained by investors with Goldman Sachs Group (NYSE:GS) ("Goldman") accounts who were forced to sell securities due to margin calls. The investigation focuses on Goldman’s potential negligence and mismanagement of leveraged accounts. Recently, investors quickly saw the major stock indices lose significant value after closing on Friday, February 21, 2020, at near 52-week highs. The market volatility has been precipitated by COVID-19. Many investment portfolios, like the stock indices, have also seen tremendous declines, leaving leveraged accounts especially at risk of margin calls.
KlaymanToskes ("KT"), www.klaymantoskes.com, announced today that it is investigating damages sustained by investors with Wells Fargo & Company (NYSE:WFC) ("Wells Fargo") accounts who were forced to sell securities due to margin calls. The investigation focuses on Wells Fargo’s potential negligence and mismanagement of leveraged accounts. Recently, investors quickly saw the major stock indices lose significant value after closing on Friday, February 21, 2020, at near 52-week highs. The market volatility has been precipitated by COVID-19. Many investment portfolios, like the stock indices, have also seen tremendous declines, leaving leveraged accounts especially at risk of margin calls.
KR vs. WMT: Which Stock Is the Better Value Option?
Lower rates followed by the coronavirus outbreak and a disappointing fee income are likely to have dampened Wells Fargo's (WFC) performance in the January-March quarter.
Relaxation of Wells Fargo's (WFC) balance sheet growth limitation will help it support small businesses amid coronavirus-led chaos.
Expectations of a drastic reduction in output are growing after Russia’s energy ministry said Moscow was ready to reduce output by 1.6 million barrels a day as part of a deal that includes producers in the Organization of Petroleum Exporting Countries and its allies, a group known as OPEC+, and beyond. This prompted Algerian Energy Minister Mohamed Arkab, who holds OPEC’s rotating presidency, to say that the emergency meeting of the OPEC+ coalition on Thursday will discuss a “massive output reduction.” “While this is around 15% of their total output and would be a meaningful cut, it would still be a struggle for the whole of OPEC+ to reach 10MMbbls/d, and therefore require the help of other oil producers if they are to get near this target,” ING analysts said in a research note.
The U.S. Federal Reserve said on Wednesday it would "temporarily and narrowly" modify the growth restriction on Wells Fargo & Co's balance sheet, allowing the bank to make more loans under government assistance programs for small businesses hurt by the coronavirus disruption. The change will allow the bank to make additional loans under the $350 billion small business payroll protection program approved by Congress last month and the Fed's forthcoming Main Street Lending Program, and will be in place as long as those facilities are active, the central bank said. The announcement prompted Wells Fargo to announce it was expanding its participation in the small business rescue program after initially restricting its lending capacity at $10 billion due to regulatory requirements despite seeing high demand.
In the latest trading session, Walmart (WMT) closed at $121.83, marking a -0.13% move from the previous day.
Goldman (GS) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Costco's stock looks ripe for further gains during the coronavirus pandemic, strategists say.
The Federal Reserve is lifting its lending restrictions on Wells Fargo after some of the bank's thousands of small business customers were shut out of a program that's supposed to throw them a financial lifeline. The Fed's action will allow Wells to make more loans under the $349 billion Paycheck Protection Program that launched last week as well as the Fed’s own upcoming small business lending program. The PPP is aimed at providing loans to small businesses shuttered by the coronavirus pandemic in order for them to keep paying employees and cover some overhead expenses.
The Federal Reserve says it will temporarily lift its asset cap on Wells Fargo to allow the massive lender to underwrite emergency small business loans.
Goldman (GS) to face a class-action lawsuit for misdeeds at the time of financial crisis.
With the U.S. economy set to contract severely this quarter amid the COVID-19 lockdown, bank stocks as a group have fallen much more than the broader market. On April 7, David Konrad, a managing director and analyst at D.A. Davidson, and Ian Lapey, a portfolio manager at Gabelli, discussed in interviews seven bank stocks that may turn out to be good investments. It sounds simple, but human nature makes it difficult for most investors to consider buying stocks during a time of panic.
The coronavirus pandemic is driving technology development, increased use of e-commerce and a focus on a more touchless lifestyle.
Here's a breakdown of the 100 U.S. markets where Wells originated the most SBA loans between fiscal 2017 and fiscal 2019.
As thousands of businesses seek payroll assistance from the federal government, many are turning to local banks for more help.
KB Financial Group Inc has signed a share purchase agreement to buy a 100% stake in U.S. Prudential Financial Inc's South Korean unit for 2.3 trillion won ($1.89 billion), the group said in a filing on Friday. The deal marks the No.1 U.S. life insurer's exit from the South Korean market after 30 years. Prudential had hired Goldman Sachs to review a possible sale of the unit, a South Korean newspaper reported in November.
Wells Fargo and other banks are focusing only on their existing small business customers, so it's a surprise when one bank said it's courting noncustomers for SBA PPP loans.
President Donald Trump told reporters at the White House coronavirus press briefing on Monday that he sees “a tremendous light at the end of the tunnel” amid the pandemic. Clearly, Silvia Ardagna, managing director in the investment strategy group within Goldman Sachs private Wealth Management, agrees with him.
As the coronavirus pandemic has taken hold of the U.S., countless businesses have been forced to close and lay off or furlough workers. Nationwide unemployment claims continue to rise to over 16 million as another 6.