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Financial Markets

Wells Fargo Stock Crashes on Net Interest Income Decline

Wells Fargo shared its second quarter report on Friday, exceeding Wall Street analysts’ expectations on earnings and revenue but disappointing with net interest income decline. The report sent the bank’s stock tumbling more than 7% at one point. Wells Fargo reported earnings of $1.33 per...

MicroStrategy Announces 10-for-1 Stock Split

Software company MicroStrategy, which is the largest corporate holder of Bitcoin, announced a 10-for-1 stock split. The stock split, which will give shareholders nine class A and class B common shares on top of every share they hold, will be enacted on August 7. Announcing...

PepsiCo Stock Dips After Mixed Earnings Report

PepsiCo, the parent company of brands like Pepsi, Lays, and Quakers, shared a mixed earnings report for the second quarter on Thursday. The company’s adjusted earnings per share exceeded expectations, but earnings came below what analysts estimated. This caused PepsiCo’s stock to dip by...

S&P 500 Crosses 5,600 Mark for the First Time, Records 7th Straight Winning Session

The U.S. stock market had another big day on Wednesday. This was particularly the case for the S&P 500, which crossed the 5,600 mark for the first time ever while recording its seventh straight winning session. S&P 500 soared 1.02% or 56.93 points to climb...

Piper Sandler Will No Longer Release S&P 500 Price Target

Investment bank Piper Sandler & Co. has opted against releasing its forecast for the end-year price target of the S&P 500. Its research team concluded that the index’s performance doesn’t reflect the state of the stock market while also believing that the price target...

ServiceNow Stock Slides After a Downgrade By Guggenheim

The shares of cloud-based software company ServiceNow plunged more than 4% after analysts at Guggenheim Partners downgraded the stock from “Neutral” to “Sell”. In a note sent to clients, Guggenheim’s analyst John DiFucci said that he expects ServiceNow to report good quarterly results but believes...