Wells Fargo Shares Dip 7% on Q4 Revenue Miss
"Our results continued to be impacted by the unprecedented operating environment and the required work to put our substantial legacy issues behind us."
Poshmark Pops in Latest Big Market Debut
The online fashion reseller has benefited from a flood of demand as locked-down shoppers turn to e-commerce amid the coronavirus pandemic.
Delta Posts Record Loss, Cuts Cash Burn
“Our December quarter results capped the toughest year in Delta’s history,” Delta CEO Ed Bastian said.
Dropbox to Slash 11% of Workforce
The software company has been shifting to remote work, which "means we require fewer resources to support our in-office environment.”
Affirm Shares Surge in Debut After $1.2B IPO
The flotation of the online lender extends "a frenzied run of tech IPOs dating back to the second half of last year."
Biden to Name Gary Gensler as SEC Chairman
The appointment of the former CFTC chief "is expected to put an end to the four years of rule-easing" that Wall Street has enjoyed under Jay Clayton.
U.S. Budget Deficit Climbs to $572B in Q1
The increase in the deficit reflected in part spending on coronavirus relief programs including enhanced unemployment benefits.
CFOs of Middle Market Firms See Recovery in 2021
"For some companies, growth may mean a return to pre-pandemic financial performance, but most believe the deepest hardship is over."
PPP Reopens With $284B for Small Business Loans
The revamped COVID-19 relief program also allows some companies to apply for a second draw of up to $2 million.
Deutsche Bank Fined $132M Over Bribery Schemes
U.S. authorities say the scandal-plagued bank made improper payments to politically-connected intermediaries to secure business overseas.
U.S. Loses 140,000 Jobs Amid New Lockdowns
The December jobs report shows "the economy’s not just tapping on the brakes, but actually has been thrown into reverse."