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CORRECTED-BREAKINGVIEWS-Wells Fargo has worn its dunce cap long enough
Wells Fargo was prohibited from getting bigger for a series of flagrant customer abuses. John Foley says the bank has worn its dunce cap long enough. He says the $2 trillion cap on assets is costly to Wells Fargo. The bank missed out on $540 billion of deposit growth, he says.
Reuters · 18h ago
UPDATE 2-D.R. Horton forecasts strong fiscal 2024 on tight supply of existing homes
D.R. Horton forecasts strong fiscal 2024 on tight supply of existing homes in the United States. Shares of the largest U.S. Homebuilder rose 4% to $151.30 on Thursday. The company raised its forecast for full-year revenue for fiscal 2024 to $37.7 billion.
Reuters · 19h ago
PNC FINANCIAL SERVICES GROUP INC <PNC.N>: JEFFERIES CUTS TARGET PRICE TO $162 FROM $171
Reuters · 1d ago
PNC FINANCIAL SERVICES GROUP INC <PNC.N>: BOFA GLOBAL RESEARCH RAISES PRICE OBJECTIVE TO $168 FROM $165
Reuters · 1d ago
PNC FINANCIAL SERVICES GROUP INC <PNC.N>: EVERCORE ISI CUTS TARGET PRICE TO $175 FROM $184
Reuters · 1d ago
UPDATE 1-Big banks led by Citi continue to trim staff to cut costs
Big banks led by Citi continue to trim staff to cut costs in the first quarter. Headcount at Bank of America, Wells Fargo and PNC Financial declined by about 2,000 jobs combined. Banks are under pressure to control costs due to uncertain economic outlook. JPMorgan Chase added 2, thousand employees in first quarter to 311,921.
Reuters · 2d ago
Big banks led by Citi continue layoffs amid pressure to cut costs
Big banks led by Citi continue layoffs amid pressure to cut costs. Bank of America, Wells Fargo and PNC Financial together cut more than 2,000 jobs in the first quarter. Citigroup saw the biggest drop in its headcount, down by 2,500 employees. JPMorgan Chase added 2,200 employees in first quarter to 311,921.
Reuters · 2d ago
BUZZ-US lender PNC falls after Q1 profit, revenue decline
U.S. Lender PNC Financial's PNC.N shares fall 1.5% to $147.27. Bank posts Q1 profit of $3.10; revenue declines to $5.15 billion. Company's shares down 5% this year.
Reuters · 2d ago
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