Wells Fargo plans to keep its wealth management business that caters to high-net worth clients, the sources said.
The asset management business, which is part of Wells Fargo’s wealth and investment management division, offers mutual funds and retirement products.
Scharf told analysts on the bank’s third-quarter earnings call this month that he expected to create some room on Wells Fargo’s balance sheet by exiting non-core businesses.
Wells Fargo’s asset management arm, which managed $578 billion on behalf of customers as of the end of June, could fetch more than $3 billion in a sale, two of the sources said Thursday.
Wells Fargo is exploring a sale of its asset management business, in what would be the bank’s biggest shake-up since former Bank of New York Mellon chief executive Charles Scharf joined as CEO last year, people familiar with the matter said.
Greenbrier Companies (NYSE:GBX) is estimated to report quarterly earnings at $0.30 per share on revenue of $603.18 million.
Carter's (NYSE:CRI) is likely to report quarterly earnings at $1.57 per share on revenue of $878.52 million.
First Horizon National (NYSE:FHN) is likely to report quarterly earnings at $0.21 per share on revenue of $799.54 million.
Barnes Gr (NYSE:B) is likely to report quarterly earnings at $0.28 per share on revenue of $245.62 million.
"Following" : "Follow"}} October 23, 2020 4:20am 352 Companies Reporting Before The Bell Civista Bancshares (NASDAQ:CIVB) is likely to report quarterly earnings at $0.35 per share on revenue of $29.05 million.
The gross margin increase reflects a richer product mix, higher sales prices for Data center products and Asetek's business model transition for Gaming and Enthusiast OEMs that customize their liquid coolers.
"The step-change in demand for Gaming and Enthusiast products experienced since late second quarter continues and with year-over-year margin improvement for all product groups, we are on track to report record revenue and profit for 2020," said André Sloth Eriksen, CEO and founder of Asetek.
In conclusion, third quarter results reflect our business' ability to adapt rapidly and emerge strongly upon the first signs of recovery in macro conditions, reaffirm our commitment to realizing the full potential of each individual business through solid execution and our transformational unlocking value initiative.
Newpek's divestment of all its assets in Texas during the third quarter also contributes to ALFA's unlocking value initiative by increasing focus on core businesses and strengthening our balance sheet.
We anticipate this will be a medium-term journey, which requires an orderly implementation to maximize shareholder value, and at the same time, maintain a strong credit profile at the ALFA and business levels.
ALFA's consolidated cash balance at the end of the third quarter was $1.4 billion, down 19% versus the prior quarter.
Good afternoon, everyone, and welcome to ALFA's Third Quarter 2020 Earnings Conference Call.
You can see orders received for the quarter were down 6% and you can see some more spend on the industrial products and a little bit weaker than demand on project business, which is referred to as sometimes large contractors as well.
If you go to slide number three then, when I go to the margin then of 20.2% and the reported 19.2%, then the gap in between is intrinsic to the restructuring in Industrial Technique, mainly linked to the weak demand in the auto sector.
And then in Asia then, going up against a strong quarter last year, slightly negative, but I must say that we are still fairly positive about that development.
Quite impressive by Compressor Technique, we continue to deliver good numbers, very resilient model with the clip having segment geographic and a strong service business.
And operating margin, 23%, of course supported by volumes, and negative a little bit on mix, so some of the big recruitment that we have in the product portfolio, but very, very strong for Compressor Technique.
The company designs, develops, and manufactures a broad range of HDDs and SSDs, but specializes in HDDs used in PCs, game consoles, and data centers for the likes of enterprises and cloud vendors.
How To Listen To The Conference Call Date: Oct 22, 2020 Time: 04:30 PM ET Webcast URL: Action Company's 52-week high was at $64.17 52-week low: $39.02 Price action over last quarter: Up 16.88% Company Description Seagate Technology PLC is a major supplier of hard disk drives.
Revenue of $2,314,000,000 decreased by 10.24% from the same period last year, which missed the estimate of Technology Sees Q2 Adj. EPS $0.95-$1.25 vs $1.08 Est., Sales $2.35B-$2.75B vs $2.48B Est.
Quarterly Results Earnings per share fell 9.71% year over year to $0.93, which beat the estimate of $0.88.
Shares of Seagate Technology (NASDAQ:STX) moved lower by 5.43% in after-market trading after the company reported Q1 results.
While Intel's server processor business has benefited from the shift to the cloud, the firm has also been expanding into new adjacencies as the personal computer market has declined.
Intel pioneered the x86 architecture for microprocessors.
Revenue of $18,333,000,000 declined by 4.47% year over year, which beat the estimate of Sees FY20 Adj. Raises FY20 10nm Products Shipment Guidance By 30% How To Listen To The Conference Call Date: Oct 22, 2020 Time: 05:00 PM ET Webcast URL: 52-week high was at $69.29 52-week low: $43.63 Price action over last quarter: Up 6.38% Company Profile Intel Corp is one of the world's largest chipmakers.
Quarterly Results Earnings per share fell 21.83% year over year to $1.11, which beat the estimate of $1.10.
Shares of Intel (NASDAQ:INTC) rose 10% after the company reported Q3 results.
Shares of People's United Finl (NASDAQ:PBCT) moved higher by 1.15% after the company reported Q3 results.
Quarterly Results Earnings per share were flat 0.00% over the past year to $0.34, which beat the estimate of $0.29.
Revenue of $492,500,000 up by 8.31% from the same period last year, which missed the estimate of United Finl hasn't issued any earnings guidance for the time being.
Conference Call Details Date: Oct 22, 2020 Time: 05:00 PM ET Webcast URL: Action 52-week high: $17.22 Company's 52-week low was at $9.37 Price action over last quarter: down 5.71% Company Description People's United Financial Inc has nearly $39 billion of assets.
People's United Bank is one of the New England-based banks and among the top 50 in the U.S. Of the bank's 405 locations, 40% are in Connecticut, where it ranks third by deposit market share.
Director of National Intelligence John Ratcliffe arrives to a closed-door briefing on election security at the Senate Intelligence Committee on September 23, 2020, in Washington, D.C. Ratliffe said Russia and Iran have obtained U.S. voter registration information.
Getty Images European stocks weakened on Thursday after the U.S. accused foreign rivals of election interference, even as progress appears to have been made on a new round for stimulus for the U.S. economy and earnings have largely been better than anticipated.
U.S. stocks SPX, +0.02% fell on Wednesday, while bond yields TMUBMUSD10Y, 0.846% rose, amid talks over a fiscal stimulus package.
The U.S. accused Iran of interfering in the coming election, saying the country was behind threatening emails to Democratic-registered voters in battleground states, and that Russia also obtained voter registration data.
According to FactSet, Stoxx 600 earnings are now expected to drop 31% in the third quarter, versus the 35% decline expected at the end of June.
Zacks Investment Research upgraded shares of Kraton (NYSE:KRA) from a hold rating to a buy rating in a research report report published on Wednesday morning, Zacks.com reports.
Zacks Investment Research currently has $34.00 target price on the specialty chemicals company’s stock.
According to Zacks, “Kraton Corp is a producer of styrenic block copolymers, specialty polymers and performance products derived from pine wood pulping co-products.
The Polymer segment offers performance products, including styrene-butadiene-styrene for paving and roofing application; styrene-isoprene-styrene for personal care application; ethylene-vinyl acetate, polyolefins, and metallocene polyolefins for adhesives application; and specialty polymers, such as hydrogenated styrenic block copolymers, as well as isoprene rubber and isoprene rubber latex for use in medical and personal care products, adhesives, tackifiers, paints, and coatings.
Get a free copy of the Zacks research report on Kraton (KRA) For more information about research offerings from Zacks Investment Research, visit Zacks.com Receive News & Ratings for Kraton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kraton and related companies with MarketBeat.com's FREE daily email newsletter.
Zacks Investment Research upgraded shares of Kala Pharmaceuticals (NASDAQ:KALA) from a hold rating to a buy rating in a research note published on Wednesday morning, Zacks.com reports.
Northland Securities reissued a buy rating and issued a $17.00 price objective on shares of Kala Pharmaceuticals in a research note on Friday, August 7th.
Jefferies Financial Group cut Kala Pharmaceuticals from a buy rating to a hold rating and dropped their price objective for the company from $21.00 to $10.00 in a report on Monday, September 14th.
Wedbush reiterated a buy rating and set a $39.00 target price on shares of Kala Pharmaceuticals in a research report on Monday, October 5th.
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Aurora Cannabis is trading at a lower price-to-earnings ratio than its peers, indicating that it is currently more affordable than other companies in its industry.
Comparatively, Aurora Cannabis’ peers have a beta of 1.67, indicating that their average stock price is 67% more volatile than the S&P 500.
We will compare Aurora Cannabis to related companies based on the strength of its profitability, valuation, institutional ownership, analyst recommendations, earnings, risk and dividends.
Aurora Cannabis (NYSE: ACB) is one of 36 publicly-traded companies in the “Medicinals & botanicals” industry, but how does it compare to its peers?
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KeyCorp upped their price target on shares of Eversource Energy from $95.00 to $98.00 and gave the company an “overweight” rating in a report on Monday.
Credit Suisse Group downgraded shares of Eversource Energy from a “neutral” rating to an “underperform” rating and raised their target price for the company from $76.00 to $81.00 in a report on Monday, July 20th.
Bank of America upgraded shares of Eversource Energy from an “underperform” rating to a “neutral” rating and set a $87.00 price objective on the stock in a research report on Monday, October 5th.
Guggenheim cut Eversource Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $95.00 to $91.00 in a report on Monday, August 24th.
Finally, BofA Securities raised shares of Eversource Energy from an “underperform” rating to a “neutral” rating and set a $87.00 price objective for the company in a research note on Monday, October 5th.
Finally, Wolfe Research raised Ovintiv from an “underperform” rating to a “peer perform” rating and raised their price objective for the company from $6.50 to $11.50 in a research note on Wednesday, July 15th.
TD Securities boosted their price target on Ovintiv from $9.00 to $11.00 and gave the stock a “hold” rating in a report on Wednesday, July 29th.
BMO Capital Markets raised Ovintiv from a “market perform” rating to an “outperform” rating and raised their target price for the company from $6.50 to $13.00 in a report on Monday, June 29th.
Ovintiv (NYSE:OVV) had its price objective cut by equities research analysts at Morgan Stanley from $14.75 to $11.00 in a research report issued on Tuesday, The Fly reports.
In other Ovintiv news, EVP Rachel Maureen Moore purchased 6,000 shares of the stock in a transaction dated Friday, October 2nd.