Wells Fargo & Co (NYSE: WFC) shareholders were caught completely off guard by the extent of the companys fraudulent behavior related to its recent $185 million settlement, and now Wells Fargo CEO John Stumpf is getting taken to the woodshed by Senator Elizabeth Warren and others on the Senate Banking Committee.
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In case youve been living under a rock, Wells Fargo must pay $185 million in settlements to quell the damage done by Wells Fargos widespread illegal practice of signing customers up for phony accounts to meet sales quotas.
Senator Warren is calling for Stumpf to take responsibility and resign. Its gutless leadership, Warren said.
WFC stock is down 8.5% since the beginning of September, and there is likely more downside in the near term.
Hot Bank Stocks For 2019: Scripps Networks Interactive Inc(SNI)
- [By Ben Levisohn]
Scripps Networks Interactive (SNI) sunk to the bottom of the S&P 500–narrowly beating out Apartment Investment and Management (AIV)–as the parent company of the Food Network and other channels gave back a chunk of its post-elections gains.
Shares of Scripps Networks Interactive dropped 4.2% to $70.63 today, while the S&P 500 rose 0.8% to 2,180.39. Scripps had gained 13% from Nov. 8 through Nov. 14.
Scripps reported net income of $607 million on sales of $3 billion in 2015.
Barron’s David Englander recommended Scipps Networks’ former parent E.W. Scripps (SSP) back in August.
- [By Lisa Levin]
Discovery Communications Inc. (NASDAQ: DISCA) announced plans to acquire Scripps Networks Interactive, Inc. (NYSE: SNI) for $14.6 billion.
Discovery will pay $90 per share in cash and stock to buy Scripps. The transaction is projected to close by early 2018.
Hot Bank Stocks For 2019: Aurinia Pharmaceuticals Inc(AUPH)
- [By Todd Campbell]
After positive mid-stage trial data suggested earlier this year that it might be able to reshape the treatment of kidney failure in lupus patients, Aurinia Pharmaceuticals (NASDAQ:AUPH)has announced plans for a late-stage study that could eventually allow it to win regulatory OKs in the U.S., Europe, and Japan.
- [By Lisa Levin] Related NVCN 18 Biggest Mid-Day Losers For Wednesday Legal Overhangs Keep Ladenburg Neutral On Neovasc Despite Positive Tiara Clinical Data Boston Scientific closes Neovasc transaction (Seeking Alpha)
Related BSX Watch These 10 Huge Call Purchases In Monday Trade Wonderful Wearables Get Their Own ETF Boston Scientific closes Neovasc transaction (Seeking Alpha) Gainers
Neovasc Inc (US) (NASDAQ: NVCN) rose 17.3 percent to $2.65 in pre-market trading after the company reported the close of its $75 million transaction with Boston Scientific Corporation (NYSE: BSX).
aTyr Pharma Inc (NASDAQ: LIFE) shares rose 12.3 percent to $4.10 in pre-market trading after the company disclosed 'promising' signals in myopathies with Resolaris in exploratory trials.
Globus Maritime Ltd (NASDAQ: GLBS) shares rose 10.1 percent to $6.90 in pre-market trading after climbing 5.03 percent on Monday.
Aurinia Pharmaceuticals Inc (NASDAQ: AUPH) shares rose 9.9 percent to $3.00 in pre-market trading. Aurinia Pharmaceuticals appointed Lorin Jeffry “Jeff” Randall to its board and Chairman of the Audit Committee.
Ocean Rig UDW Inc. (NASDAQ: ORIG) shares rose 8.7 percent to $2.89 in pre-market trading after surging 19.82 percent on Monday.
Full House Resorts, Inc. (NASDAQ: FLL) shares rose 5.1 percent to $2.08 in pre-market trading after declining 1.98 percent on Monday.
Seadrill Ltd (NYSE: SDRL) rose 5.1 percent to $4.13 in pre-market trading after surging 3.15 percent on Monday.
Noble Corporation (NYSE: NE) rose 5.1 percent to $7.60 in pre-market trading after declining 5.37 percent on Monday.
Arbutus Biopharma Corp (NASDAQ: ABUS) rose 5.1 percent to $3.10 in pre-market trading. Arbutus issued additional data from its ARB-1467 Phase II
- [By Lisa Levin]
Aurinia Pharmaceuticals Inc (NASDAQ: AUPH) shares shot up 24 percent to $4.60 after the company disclosed that Voclosporin met 48-week remission endpoints.
Hot Bank Stocks For 2019: Nielsen N.V.(NLSN)
- [By Chris Lange]
The S&P 500 stock posting the largest daily percentage loss ahead of the close Thursday was Nielsen Holdings PLC (NYSE: NLSN) which traded down over 9% at $33.99. The stocks 52-week range is $33.90 to $45.73. Volume was 11.3 million compared to the daily average volume of 3.8 million.
- [By Paul Ausick]
Nielsen Holdings plc (NYSE: NLSN) lost nearly 2.7% Friday to post a new 52-week low of $42.25 after closing Thursday at $43.41. The 52-week high is $55.94. Volume of around 6.7 million was nearly 3 times the daily average of around 2.6 million shares traded. The data research and information company had no specific news Friday.
- [By Paul Ausick]
Nielsen Holdings plc (NYSE: NLSN) dropped about 1.5% Thursday to post a new 52-week low of $40.97 after closing Wednesday at $41.59. The 52-week high is $55.94. Volume of around 5.2 million was about 70% above the daily average of around 3.2 million shares traded. The company had no specific news Thursday.