Work Force Coin (WFC) news

Major Banks Set to Report Earnings Amid Rising Yield Environment, UBS Says

02:15 PM EDT, 10/05/2026 (MT Newswires) -- Third-quarter earnings for major banks will unfold against a backdrop of rising Treasury yields, with earnings estimates of Goldman Sachs (GS) and Morgan Stanley (MS) sitting well below Wall Street's views, UBS Securities said in a note Monday. Earlier this month, the 10-year Treasury yield hit the highest level since April 2002, hitting as high as 5.24%. The 10-year yield is seen as a proxy for rates on mortgages and other loans. "A key theme we expect to hear discussed on earnings calls this quarter is, of course, the current rate environment, in which we have seen long-term treasury yields reach their highest levels in years," UBS analyst Erika Najarian said. Banks have underperformed the S&P 500 by 9.3% since the 10-year yield hit about 5%, according to the UBS note. History suggests that a climb in the 10-year rate above 5% tends to have a negative impact on market multiples. "We think investors will be sensitive to any management commentary on how longer-term rates impact business momentum," Najarian said. "In the medium term, we think any signal that long-term rates have reached their peak will be supportive of bank shares." A higher rate backdrop puts deposit costs back in focus, Najarian wrote. Last month, the Federal Reserve raised interest rates for the first time in just over three years to combat sticky inflation. The central bank's so-called "dot plot" signaled that a further rate increase could happen later this year. The US big bank earnings season kicks off next week. UBS lowered its third-quarter earnings-per-share estimates for Goldman, Morgan Stanley, Bank of America (BAC), Wells Fargo (WFC) and JPMorgan Chase (JPM). It raised the outlook for Citigroup (C). Of the six banks, Goldman, Morgan Stanley, JPMorgan and Citigroup are likely to miss estimates, with Goldman and Morgan Stanley expected to see the biggest shortfall, according to the note. Bank of America and Wells Fargo are seen topping Wall Street's EPS views. UBS slashed Goldman's third-quarter

BUZZ - Morgan Stanley upgrades rating on Wells Fargo to "Overweight", shares rise in response

On October 5, after Morgan Stanley upgraded Wells Fargo (WFC.N) from "Neutral" to "Overweight", the stock rose 0.9% to $81.14. The brokerage expects that as balance sheet growth slows and Wells Fargo makes greater use of low-cost funding, its net interest margin will stabilize, supporting net interest income growth. Morgan Stanley noted that rising interest rates will also provide additional support, as Wells Fargo is seen as the most interest-rate-sensitive among the money center banks. The company is scheduled to release its third-quarter earnings report on October 13. Of 26 brokerages, 18 rate the stock "Buy" or higher and 8 rate it "Hold"; the median target price is $100, according to LSEG data. Wells Fargo maintains a target price of $102. The stock currently trades at 10.28 times the expected earnings per share for the next 12 months, slightly below the industry median of 10.31 times. WFC has fallen 13% year to date, while the S&P 500 Bank Index has risen 0.3% .SPXBK. (For the convenience of non-English speakers, Reuters provides automated translations of its reports into several other languages. As automated translation may be inaccurate or lack necessary context, Reuters does not guarantee the accuracy of the automated translation and provides it solely for reader convenience. Reuters accepts no liability for damages or losses caused by the use of automated translation services.)

UBS lowers target prices for U.S. Bancorp and Wells Fargo

UBS Group has lowered the target price for U.S. Bancorp (USB.US) from $66 to $64. The target price for Wells Fargo (WFC.US) has been reduced from $104 to $102.

Exchange-Traded Funds, Equity Futures Down Pre-Bell Monday as Tech Stocks Normalize

09:18 AM EDT, 10/05/2026 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.1%, and the actively traded Invesco QQQ Trust (QQQ) fell 0.2% in Monday's premarket activity, as technology stocks fell back after reaching record highs. US stock futures were down, with S&P 500 Index futures down 0.2%, Dow Jones Industrial Average futures slipping 0.2%, and Nasdaq futures losing 0.3% before the start of regular trading. The nonmanufacturing data from S&P Global is expected at 9:45 am ET and ISM at 10:00 am ET. In premarket action, bitcoin was up by 1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.1% higher, Ether ETF (EETH) advanced 1.7%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat. Power Play: Consumer The State Street Consumer Staples Select Sector SPDR ETF (XLP) was 0.2% higher, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) increased by 0.7%, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.05%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.4% higher. Tesla (TSLA) shares were down more than 0.4% pre-bell despite closing 4.7% higher at the previous close. Winners and Losers: Health Care The State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.3%, the Vanguard Health Care Index Fund (VHT) was 0.1% lower, while the iShares US Healthcare ETF (IYH) slipped 0.6%. The iShares Biotechnology ETF (IBB) was up 0.3%. Novo Nordisk (NVO) shares were down more than 1% premarket after the company said the US Food and Drug Administration's review of its biologics license application for denecimig to treat haemophilia A was extended due to ongoing facility remediation activities, with no new timeline provided for regulatory action. Financial The State Street Financial Select Sector SPDR ETF (XLF) advanced 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.6%,

WELLS FARGO & CO <WFC.N>: UBS CUTS TARGET PRICE TO $102 FROM $104

WELLS FARGO & CO : UBS CUTS TARGET PRICE TO $102 FROM $104

IES Holdings closes DBM Global acquisition for about $691 million

IES Holdings closed its acquisition of DBM Global for total consideration of about USD 691 million, paid in cash and stock. Consideration included about USD 545 million in cash and 430,974 IES common shares valued at about USD 146 million. DBM Global will operate as a new Structural line of business alongside IES’s existing segments. DBM Global generated about USD 1.5 billion of revenue for the 12 months ended June 30, 2026. Cash portion funded with cash on hand and borrowings under an amended and expanded credit facility arranged by Wells Fargo. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. IES Holdings Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202610050830PRIMZONEFULLFEED9839513) on October 05, 2026, and is solely responsible for the information contained therein.

Wells Fargo schedules third-quarter 2026 earnings release, conference call

Wells Fargo will report third-quarter 2026 earnings on Oct. 13, 2026, around 7:00 a.m. ET via . Live earnings conference call scheduled for Oct. 13 at 10:00 a.m. ET. Replay available from about 1:00 p.m. ET on Oct. 13 through Oct. 27. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Wells Fargo & Company published the original content used to generate this news brief via Business Wire (Ref. ID: 20261005655050) on October 05, 2026, and is solely responsible for the information contained therein.

Goldman Sachs Adjusts Price Target on Wells Fargo to $96 From $107, Keeps Buy Rating

07:08 AM EDT, 10/05/2026 (MT Newswires) -- Wells Fargo & Company (WFC) has an average rating of overweight and mean price target of $99.23, according to analysts polled by FactSet. (MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Dan Ives Explains Why 2027 Could Be Tesla's Golden Year with Robotaxis and Optimus

Clearing House, Which Settles $2T Daily, Explains Why It Chose Quant (QNT)

Schneider National expands secured receivables facility to $400 million, extends to 2029

Institutions Declare September Nonfarm Payrolls "Killed" October Rate Hike Expectations! "New Fed News Agency": Jobs Report Does Not Change Fed's Stance, September CPI More Important

"The New Fed's Newsletter" stated that senior Federal Reserve officials have indicated this week that a rate hike in October may not be their baseline forecast. The current report's wage and unemployment rate data do not show the labor market is tightening enough to significantly increase price pressures. Traders’ pricing for an October rate hike dropped from nearly 30% before the data release to about 20%, and at one point, markets even stopped fully pricing in another hike this year. Institutions believe the job market is characterized by “low hiring, low layoffs,” giving the Fed reason to wait for more data; a December rate hike remains possible. Market reaction suggests “bad news is good news,” as Wall Street continues to focus on the 5% US Treasury yield.

BUZZ - StepStone shares surge as Wells Fargo initiates coverage with an “Overweight” rating

BUZZ - Interactive Brokers' stock rises after Wells Fargo gives an "Overweight" rating

BUZZ - Wells Fargo initiates coverage on Hamilton Lane with an "Overweight" rating, and the company's stock price rises in response.

JPMorgan Adjusts Wells Fargo Price Target to $91.50 From $95.50, Maintains Neutral Rating

CBOE GLOBAL MARKETS, INC. <CBOE.Z>: WELLS FARGO INITIATES COVERAGE WITH EQUAL WEIGHT RATING AND TARGET PRICE $301

THE CARLYLE GROUP INC. <CG.O>: WELLS FARGO INITIATES COVERAGE WITH EQUAL WEIGHT RATING AND TARGET PRICE $43

RAYMOND JAMES FINANCIAL, INC. <RJF.N>: WELLS FARGO INITIATES COVERAGE WITH EQUAL WEIGHT RATING AND TARGET PRICE $172

ARES MANAGEMENT CORPORATION : WELLS FARGO INITIATES COVERAGE WITH OVERWEIGHT RATING AND TARGET PRICE $136

RAYMOND JAMES FINANCIAL, INC. <RJF.N>: WELLS FARGO INITIATES COVERAGE WITH EQUAL WEIGHT RATING; TARGET PRICE $172

BLACKSTONE <BX.N>: WELLS FARGO INITIATES COVERAGE WITH EQUAL WEIGHT RATING; TARGET PRICE $122

APOLLO : WELLS FARGO INITIATES COVERAGE WITH EQUAL WEIGHT RATING; TARGET PRICE $127

WELLS FARGO <WFC.N>: JP MORGAN CUTS TARGET PRICE TO $91.5 FROM $95.5

A "Calm on the Surface" US Stock Market: Indexes Are "One Step Away" from New Highs, but Almost All Sectors Have Been Hit Hard

The yield on the 10-year U.S. Treasury has risen to 5.34%, quietly tearing apart the market: the S&P 500 is less than 2% away from its all-time high, but the median decline among S&P 500 components over the past month is 5%, and the equal-weight index has fallen for seven consecutive weeks. More than one-third of small-cap stocks have become "zombie companies," bank stocks have dropped more than 12% from their peak, and utilities are just one step away from a bear market. The only current support comes from AI tech giants—if AI profit expectations collapse, the risk of a broad market meltdown currently masked will erupt instantly.

Tesla’s car business keeps shrinking as Wall Street expects another year-over-year sales drop

The apparent boom in US stocks masks underlying weakness! The S&P 500 is less than 2% from its all-time high, yet small-cap stocks, banks, and utilities sectors suffer heavy losses.

As the yield on the U.S. 10-year Treasury once surged to 5.34%, reaching its highest level since 2002, Wall Street is intensely debating when the bond market sell-off will truly impact the seemingly resilient U.S. stock market.

High U.S. Treasury yields exert pressure, bank stock index deeply in correction zone, Citigroup drops nearly 5% intraday

During Thursday's trading, the KBW Bank Index hit a four-month low, falling 14% from its mid-August peak. Analysts noted that in September, the financial sector's performance relative to other industries was the worst for the same period since 1990. Some analysts also pointed out that concerns over the threat of AI agents, potential impacts from the US midterm elections, and rising interest rates have been overblown. The major banks' earnings season begins on October 13, with profitability becoming a key point of validation.

Data Brief – HSBC lowers the average gold price forecast for 2026 to $4,490 per ounce

Raven Capital names Wells Fargo veteran Thad Sharrett senior managing director