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“Wells Fargo knew that their unreasonable quotas were driving these unethical behaviors that were used to fraudulently increase their stock price and benefit the CEO at the expense of the low-level employees,” the bankers alleged in state court. “Although this policy was known to top executives of defendants, plaintiffs, as bankers, were blamed for harm to clients and retaliated against."

“Wells Fargo knew that their unreasonable quotas were driving these unethical behaviors that were used to fraudulently increase their stock price and benefit the CEO at the expense of the low-level employees,” the bankers alleged in state court. “Although this policy was known to top executives of defendants, plaintiffs, as bankers, were blamed for harm to clients and retaliated against."

Wells Fargo equity chief: Tech stocks are 'overvalued,' but you should still buy them - John Manley, a chief US equity strategist for Wells Fargo Funds, spoke to Business Insider on July 11, 2017, where he gave his take on one of the most hotly-contested debates in markets: whether tech stocks are overvalued. Following is a transcript of the video.  Joe Ciolli: So we've covered really one of the big stories in the market, but we can't really have a discussion about stocks with that talking…

Wells Fargo Funds equity chief: Tech stocks are 'overvalued,' but you should still buy them

Wells Fargo equity chief: Tech stocks are 'overvalued,' but you should still buy them - John Manley, a chief US equity strategist for Wells Fargo Funds, spoke to Business Insider on July 11, 2017, where he gave his take on one of the most hotly-contested debates in markets: whether tech stocks are overvalued. Following is a transcript of the video. Joe Ciolli: So we've covered really one of the big stories in the market, but we can't really have a discussion about stocks with that talking…

“Wells Fargo knew that their unreasonable quotas were driving these unethical behaviors that were used to fraudulently increase their stock price and benefit the CEO at the expense of the low-level employees,” the bankers alleged in state court. “Although this policy was known to top executives of defendants, plaintiffs, as bankers, were blamed for harm to clients and retaliated against."

“Wells Fargo knew that their unreasonable quotas were driving these unethical behaviors that were used to fraudulently increase their stock price and benefit the CEO at the expense of the low-level employees,” the bankers alleged in state court. “Although this policy was known to top executives of defendants, plaintiffs, as bankers, were blamed for harm to clients and retaliated against."

Wells Fargo equity chief: Companies were being rendered obsolete long before Amazon emerged - John Manley, chief US equity strategist for Wells Fargo Funds, spoke to Business Insider on July 11, 2017, where he discussed rapidly growing, technically advanced companies like Amazon shaking up various industries. Following is a transcript of the video.   Joe Ciolli: And sort of the last thing I wanted to touch on is Amazon. It’s sort of the spectre looming over the market. We coined the term…

Wells Fargo Funds equity chief: Companies were being rendered obsolete long before Amazon emerged

Wells Fargo equity chief: Companies were being rendered obsolete long before Amazon emerged - John Manley, chief US equity strategist for Wells Fargo Funds, spoke to Business Insider on July 11, 2017, where he discussed rapidly growing, technically advanced companies like Amazon shaking up various industries. Following is a transcript of the video. Joe Ciolli: And sort of the last thing I wanted to touch on is Amazon. It’s sort of the spectre looming over the market. We coined the term…

Sears is popping after saying it will sell appliances on Amazon (SHLD, AMZN) - Sears  is making big gains Thursday morning, up 22.70% in premarket trading Thursday, after announcing it would begin selling its Kenmore appliances on Amazon.  Selling on Amazon will give the company access to its largest customer base outside of Sears brick and mortar stores , which could boost sales at the company.  The former retail giant has been in the news recently for a huge number of store closures . Its…

Sears is popping after saying it will sell appliances on Amazon (SHLD, AMZN)

Sears is popping after saying it will sell appliances on Amazon (SHLD, AMZN) - Sears is making big gains Thursday morning, up 22.70% in premarket trading Thursday, after announcing it would begin selling its Kenmore appliances on Amazon. Selling on Amazon will give the company access to its largest customer base outside of Sears brick and mortar stores , which could boost sales at the company. The former retail giant has been in the news recently for a huge number of store closures . Its…

Chipotle is falling after it confirms norovirus is behind the recent illness outbreak (CMG) - Chipotle is down  2.40% on Thursday after health officials confirmed that Norovirus was behind the rash of sickness reported by people who ate at one if its restaurants.  The fast-casual burrito chain recently closed a store in Sterling, Virginia, after several customers reported nausea, illness and other symptoms after eating at the location. The store was reopened after two days of cleaning and…

Chipotle is falling after it confirms norovirus is behind the recent illness outbreak (CMG)

Chipotle is falling after it confirms norovirus is behind the recent illness outbreak (CMG) - Chipotle is down 2.40% on Thursday after health officials confirmed that Norovirus was behind the rash of sickness reported by people who ate at one if its restaurants. The fast-casual burrito chain recently closed a store in Sterling, Virginia, after several customers reported nausea, illness and other symptoms after eating at the location. The store was reopened after two days of cleaning and…

Netflix hits all-time high after crushing earnings (NFLX) - Netflix took off after announcing better than expected earnings for the second quarter.  The company added 5.2 million total streaming subscribers, which was much higher than the 3.2 million expected by Wall Street. It also beat Wall Street's guidance numbers for the third quarter, saying it expects 4.4 million new subscribers compared to the 3.99 million expected, according to data from Bloomberg.  The news sent shares of Netflix…

Netflix hits all-time high after crushing earnings (NFLX)

Netflix hits all-time high after crushing earnings (NFLX) - Netflix took off after announcing better than expected earnings for the second quarter. The company added 5.2 million total streaming subscribers, which was much higher than the 3.2 million expected by Wall Street. It also beat Wall Street's guidance numbers for the third quarter, saying it expects 4.4 million new subscribers compared to the 3.99 million expected, according to data from Bloomberg. The news sent shares of Netflix…

Bernie Sanders Money Quote saying when Wall Street banks fraudulently open fake accounts to inflate stock prices, it is criminal behavior. Bernie Sanders said: Business model of Wall Street is fraud. In my view, there is no better example than the recently-exposed illegal behavior at Wells Fargo— Bernie Sanders Wells Fargo NewsEx-AIG Chief Expected to …

Bernie Sanders Money Quote saying when Wall Street banks fraudulently open fake accounts to inflate stock prices, it is criminal behavior. Bernie Sanders said: Business model of Wall Street is fraud. In my view, there is no better example than the recently-exposed illegal behavior at Wells Fargo— Bernie Sanders Wells Fargo NewsEx-AIG Chief Expected to …

Facebook is edging higher after announcing a paid news feature (FB) - Facebook  stock is moving slightly higher after the company announced it will be rolling out a paid news model on its platform.  After news media companies requested anti-trust exemptions from Congress  to collectively negotiate with large platforms like Facebook and Google, Facebook announced an olive branch of sorts.  According to Leon Lazaroff of TheStreet, Facebook plans on testing a subscription and metered paywall…

Facebook is edging higher after announcing a paid news feature (FB)

Facebook is edging higher after announcing a paid news feature (FB) - Facebook stock is moving slightly higher after the company announced it will be rolling out a paid news model on its platform. After news media companies requested anti-trust exemptions from Congress to collectively negotiate with large platforms like Facebook and Google, Facebook announced an olive branch of sorts. According to Leon Lazaroff of TheStreet, Facebook plans on testing a subscription and metered paywall…

Chipotle is sinking after customers report symptoms that are 'consistent with norovirus' (CMG) - Chipotle  shares are down 4.60% at $373.98 on Tuesday after a restaurant was closed due to customer sickness.  The company closed a restaurant in Sterling, Virginia , after several customers reported severe illness after eating at the restaurant. The customers reported their illnesses to iwaspoisoned.com , which alerted Business Insider of the reports. Shares are down 4.36% on Tuesday.  Chipotle…

Chipotle is sinking after customers report symptoms that are 'consistent with norovirus' (CMG)

Chipotle is sinking after customers report symptoms that are 'consistent with norovirus' (CMG) - Chipotle shares are down 4.60% at $373.98 on Tuesday after a restaurant was closed due to customer sickness. The company closed a restaurant in Sterling, Virginia , after several customers reported severe illness after eating at the restaurant. The customers reported their illnesses to iwaspoisoned.com , which alerted Business Insider of the reports. Shares are down 4.36% on Tuesday. Chipotle…

The banks are falling after Bank of America and Goldman Sach's earnings (BAC, JPM, C, KEY, WFC, COF, BBT, GS) - Goldman Sachs and Bank of America released earnings before the bell on Tuesday.  The results were mixed. Goldman beat earnings but had problems with its fixed income, currency, and commodities client execution units (FICC). The units were down 40% compared to last year and 30% compared to the first quarter.  Bank of America also beat earnings on Monday morning. CEO Brian Moynihan…

The banks are falling after Bank of America and Goldman Sach's earnings (BAC, JPM, C, KEY, WFC, COF, BBT, GS)

The banks are falling after Bank of America and Goldman Sach's earnings (BAC, JPM, C, KEY, WFC, COF, BBT, GS) - Goldman Sachs and Bank of America released earnings before the bell on Tuesday. The results were mixed. Goldman beat earnings but had problems with its fixed income, currency, and commodities client execution units (FICC). The units were down 40% compared to last year and 30% compared to the first quarter. Bank of America also beat earnings on Monday morning. CEO Brian Moynihan…

Sprint pops after seeking investment from Warren Buffett (S) - Sprint  shares are getting a boost on Friday.  News that Sprint executives approached Warren Buffett and cable mogul John Malone sent shares up as much as 2.8% in afternoon trading on Friday.  Chairman Masayoshi Son reached out to Buffett and Malone separately, according to the Wall Street Journal . Talks are at an early stage, and details around any possible investment in Sprint are unclear at the moment. One guess would have…

Sprint pops after seeking investment from Warren Buffett (S)

Sprint pops after seeking investment from Warren Buffett (S) - Sprint shares are getting a boost on Friday. News that Sprint executives approached Warren Buffett and cable mogul John Malone sent shares up as much as 2.8% in afternoon trading on Friday. Chairman Masayoshi Son reached out to Buffett and Malone separately, according to the Wall Street Journal . Talks are at an early stage, and details around any possible investment in Sprint are unclear at the moment. One guess would have…

Tesla jumps after driver now says autopilot wasn't to blame in Minnesota crash (TSLA) - Tesla  is higher by 2.14% after a driver walked back his claim that autopilot was at fault for his crash into a Minnesota marsh.   On Saturday, a Tesla Model S flipped onto its roof in a marsh outside of Willmar, Minnesota, causing minor injuries to the passengers.  The driver initially claimed his Tesla's autopilot feature was responsible for the crash. He said the autopilot "suddenly accelerated…

Tesla jumps after driver now says autopilot wasn't to blame in Minnesota crash (TSLA)

Tesla jumps after driver now says autopilot wasn't to blame in Minnesota crash (TSLA) - Tesla is higher by 2.14% after a driver walked back his claim that autopilot was at fault for his crash into a Minnesota marsh. On Saturday, a Tesla Model S flipped onto its roof in a marsh outside of Willmar, Minnesota, causing minor injuries to the passengers. The driver initially claimed his Tesla's autopilot feature was responsible for the crash. He said the autopilot "suddenly accelerated…

Wells Fargo is forcing its CEO to give up $40 million — a quarter of his pay over the past decade | Stumpf will forfeit all of his outstanding share-based compensation, which amounts to around $41 million at the bank’s current stock price. He will also give up his bonus this year and won’t receive any salary during the investigation. (28/09/16) || Performance-Based Payment

Wells Fargo is forcing its CEO to give up $40 million—a quarter of his pay over the past decade

Elizabeth Warren’s public grilling of Wells Fargo CEO John Stumpf has embarrassed the bank enough to dock his pay. It’s a small step in the right direction.

Bank stocks are dropping despite beating earnings (BAC, JPM, C, KEY, WFC, COF, BBT, GS) - The first of the big banks released earnings this morning, and they're spelling trouble for bank stocks.  Despite only Citigroup , Wells Fargo and JPMorgan releasing earnings, much of the wider banking sector is falling.  Those first earnings reports all beat expectations, but the stocks are falling anyway. The KBW bank index is down 1.6% on Friday after falling as much as 2%, according to data from…

Bank stocks are dropping despite beating earnings (BAC, JPM, C, KEY, WFC, COF, BBT, GS)

Bank stocks are dropping despite beating earnings (BAC, JPM, C, KEY, WFC, COF, BBT, GS) - The first of the big banks released earnings this morning, and they're spelling trouble for bank stocks. Despite only Citigroup , Wells Fargo and JPMorgan releasing earnings, much of the wider banking sector is falling. Those first earnings reports all beat expectations, but the stocks are falling anyway. The KBW bank index is down 1.6% on Friday after falling as much as 2%, according to data from…

Snap reclaims $15 after announcing a news show and new features (SNAP) - Snap is bouncing back , trading up 2.24% at $15.04 a share.  After dropping below $15 for the first time  on Tuesday, shares are climbing higher on Wednesday following the announcement of a news program and new app features.  Snap is partnering with NBC News to produce a twice-a-day newscast for the platform, Business Insider's Alex Heath reports. The program, called "Stay Tunred" begins airing on Wednesday and is…

Snap reclaims $15 after announcing a news show and new features (SNAP)

Snap reclaims $15 after announcing a news show and new features (SNAP) - Snap is bouncing back , trading up 2.24% at $15.04 a share. After dropping below $15 for the first time on Tuesday, shares are climbing higher on Wednesday following the announcement of a news program and new app features. Snap is partnering with NBC News to produce a twice-a-day newscast for the platform, Business Insider's Alex Heath reports. The program, called "Stay Tunred" begins airing on Wednesday and is…