Latest Wells Fargo & Co News

A man stands near an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, Oct. 16, 2020. Asian shares were mixed on Friday as investors weighed concerns about the U.S. presidential election and an economic stimulus package, on top of fears of flaring outbreaks of coronavirus. (AP Photo/Eugene Hoshiko)

Asian shares mixed amid 2nd wave coronavirus, election fears

Oct. 15, 2020 11:33 PM EDT

TOKYO (AP) — Asian shares were mixed on Friday as investors weighed concerns about the U.S. presidential election and an economic stimulus package, on top of fears of flaring outbreaks of coronavirus. Investors are also looking ahead to the release of data on the Chinese economy next week. Shares rose in...

FILE - In this Friday, Oct. 2, 2020 file photo, pedestrians pass the New York Stock Exchange,  in New York.  Stocks are pulling slightly higher in the early going on Wall Street, Wednesday, Oct. 14,  as investors pore over another batch of earnings reports from big U.S. companies. The S&P 500 added 0.3% in early trading Wednesday. A loss in the index a day earlier broke a four-day winning streak.  (AP Photo/John Minchillo, File)

Asian stocks follow Wall St lower as stimulus hopes fade

Oct. 15, 2020 12:07 AM EDT

Asian stocks followed Wall Street lower on Thursday as hopes U.S. leaders will agree on a new economic stimulus before the Nov. 3 presidential election faded. Benchmarks in Shanghai, Tokyo and Hong Kong declined. Sydney advanced. In Seoul, the company that manages boy band BTS made its market debut amid criticism...

How major US stock indexes fared Wednesday

Oct. 14, 2020 5:03 PM EDT

Stocks closed lower on Wall Street Wednesday, extending the market’s losses from a day earlier, as talks dragged on in Washington over another economic stimulus package. Companies that rely on consumer spending, banks and technology and communication stocks bore the brunt of the selling. Investors...

Allscripts, Concho rise; Wells Fargo, Bank of America fall

Oct. 14, 2020 4:39 PM EDT

NEW YORK (AP) — Stocks that moved heavily or traded substantially Wednesday: Allscripts Healthcare Solutions, up $2.59 to $10.90 The electronic health records company is selling its CarePort Health business for $1.35 billion. Pilgrim's Pride, up 89 cents to $16.57 The poultry producer will pay a $110.5...

FILE - This Sept. 13, 2014, file photo, shows the Chase bank logo in New York. JPMorgan Chase says profits improved marginally in the third quarter, a notable change after the nation’s largest bank had to set aside billions in the last two quarters to cover losses from the coronavirus pandemic. The New York-based bank said it earned a profit of $9.44 billion, or $2.92 a share, in the July to September period.  (AP Photo/Frank Franklin II, File)

Bank profits remain resilient despite lingering pandemic

Oct. 14, 2020 4:36 PM EDT

CHARLOTTE, North Carolina (AP) — Unemployment remains high, many small businesses are struggling, and there are few signs that Congress and the White House can soon agree on another stimulus package to help the U.S. economy in the pandemic. But Wall Street banks are on the rebound after slumping the first...

FILE - In this July 10, 2019, photo a Wells Fargo building is shown in downtown Minneapolis. Wells Fargo reported earnings of $2 billion on Wednesday, Oct. 14, 2020, less than half it made in the same period last year but a significant recovery from last quarter, when it lost $2.4 billion. (AP Photo/Jim Mone, File)

Wells Fargo posts $2 billion profit in 3Q, reversing 2Q loss

Oct. 14, 2020 9:35 AM EDT

SILVER SPRING, Md. (AP) — Wells Fargo says it earned $2 billion in the third quarter, less than half of what it made in the same period last year but a significant improvement from this year's second quarter, when it posted a loss as the coronavirus swept through the U.S. The San Francisco bank said...

FILE - This Sept. 13, 2014, file photo, shows the Chase bank logo in New York. JPMorgan Chase says profits improved marginally in the third quarter, a notable change after the nation’s largest bank had to set aside billions in the last two quarters to cover losses from the coronavirus pandemic. The New York-based bank said it earned a profit of $9.44 billion, or $2.92 a share, in the July to September period.  (AP Photo/Frank Franklin II, File)

JPMorgan, Citi profits improve amid signs of recovery

Oct. 13, 2020 5:52 PM EDT

CHARLOTTE, N.C. (AP) — Two of the nation's biggest banks — JPMorgan Chase and Citigroup — said Tuesday that their profits improved markedly over the summer, as the U.S. economy tried to bounce back from the coronavirus shutdowns that were imposed earlier this year. Even so, both New York...

FILE - In this Aug. 16, 2019, file photo, the logo for JPMorgan Chase & Co. appears above a trading post on the floor of the New York Stock Exchange in New York. JPMorgan Chase said Thursday, Oct. 8, 2020 it will extend billions in loans to Black and Latino homebuyers and small business owners in an expanded effort toward fixing what the bank calls “systemic racism” in the country’s economic system. (AP Photo/Richard Drew, File)

JPMorgan puts $30B toward fixing banking's 'systemic racism'

Oct. 8, 2020 6:20 PM EDT

CHARLOTTE, N.C. (AP) — JPMorgan Chase said Thursday it will extend billions in loans to Black and Latino homebuyers and small business owners in an expanded effort toward fixing what the bank calls “systemic racism” in the country’s economic system. The New York bank said it is...

FILE - In this March 10, 2020 file photo, Wells Fargo CEO and President Charles Scharf is seated before he testifies during a hearing of the House Financial Services Committee, on Capitol Hill, in Washington. Scharf apologized Wednesday, Sept. 23 for comments he made that dismissed concerns that the banking industry, which has a long history of racist behavior, wasn’t doing enough to promote and retain diverse talent. (AP Photo/Alex Brandon, File)

Wells Fargo CEO apologizes for comments about diversity

Sep. 23, 2020 4:05 PM EDT

NEW YORK (AP) — Wells Fargo CEO Charles Scharf apologized Wednesday for comments he made suggesting it is difficult to find qualified Black executives in the financial industry. Scharf said in a memo to employees “there is a very limited pool of Black talent to recruit from” in corporate...

FILE - In this Feb. 2, 2020, file photo, the company logo appears on an unsold 2020 Model X at a Tesla dealership in Littleton, Colo.  A day after its 5-for-1 stock split took effect, Tesla is announcing plans to sell up to $5 billion worth of common shares.  Tesla shares rose over 2% in premarket trading Tuesday, Sept. 1,  after the filing with the U.S. Securities and Exchange Commission. (AP Photo/David Zalubowski, File)

Tesla announces plans to sell up to $5B in new stock shares

Sep. 1, 2020 5:10 PM EDT

DETROIT (AP) — A day after its 5-for-1 stock split took effect, Tesla announced plans Tuesday to sell up to $5 billion worth of common shares. The electric car and solar panel maker said in a filing with securities regulators that it intends to sell up to 10.03 million shares and use the proceeds for...