Work Force Coin (WFC) news

Bank Earnings Hinge on Anthropic IPO as SpaceX Windfall Fades

Chainlink to host finance leaders in New York, LINK eyes $18.40 breakout

Meta Stock Warning? Zuckerberg Sells $21 Million as Insiders Exit

Global Bank Stocks Sink as Bond Losses Top $326 Billion: Is Another SVB Coming?

Update: Equities Rise Intraday as Traders Parse Consumer Sentiment Survey

01:37 PM EDT, 10/09/2026 (MT Newswires) -- (Updates with latest market prices and developments.) US benchmark equity indexes were higher intraday as investors evaluated a survey on consumer sentiment. The Dow Jones Industrial Average was up 0.8% at 51,628.8 after midday Friday, while the Nasdaq Composite and the S&P 500 rose 0.6% each to 27,352.4 and 7,809.5, respectively. Barring communication services, all sectors were in the green, led by real estate. US consumer sentiment fell in October as the one- and five-year inflation expectations reached their highest levels since May, preliminary results of a University of Michigan survey showed Friday. "While year-ahead expectations for personal finances and business conditions crept up slightly, buying conditions for durables plummeted amid high prices and borrowing costs," Surveys of Consumers Director Joanne Hsu said. "Frustration over cost-of-living continues to mount, as consumers across the political spectrum believe that the trajectory of the economy has weakened since the beginning of the year." Markets are currently pricing in a nearly 81% probability that the Federal Reserve will keep its benchmark rate steady later this month, with the remaining odds in favor of a second consecutive 25-basis-point hike, as the central bank looks to tame inflation, according to the CME FedWatch tool. West Texas Intermediate crude was down 0.4% at $91.17 a barrel intraday, while Brent lost 0.5% to $103.81. The 10-year US Treasury yield was up 1.5 basis points at 5.25%, while the two-year rate increased 3.9 basis points to 4.8%. In company news, SpaceX (SPCX) shares were up 0.5%. The rocket and satellite company said late Thursday it agreed to acquire a nationwide low-band spectrum portfolio from investment firm Grain Management as it seeks to establish Starlink Mobile as a major US mobile carrier. T-Mobile US (TMUS) shares sank 13% intraday Friday, the worst performer on the S&P 500, followed by AT&T (T) and Verizon Communications (VZ), which fell 10% and 9.8%, respectively.

Wall Street giants to release financial reports next week: stock trading revenue expected to approach $19 billion, "everyone is a winner" may be a thing of the past

According to analyst expectations compiled by Bloomberg, the combined equity trading revenue of the five major U.S. banks in the third quarter will approach $19 billion, but fixed income trading revenue is expected to drop to its lowest point of the year, and M&A activity has also cooled. Meanwhile, AI-driven cash optimization tools may lead to deposit outflows, sparking concerns about bank stocks in the market. Analysts believe that while the profit performance of each bank may further diverge, market concerns about the impact of AI may be overblown.

Stocks Rise Pre-Bell Following Tech Selloff

07:48 AM EDT, 10/09/2026 (MT Newswires) -- The benchmark US stock measures pointed higher before the open Friday following a selloff in technology shares in the previous session, while investors await major earnings reports scheduled for next week. The S&P 500 rose 0.4%, the Dow Jones Industrial Average increased 0.2%, and the Nasdaq 100 rose 0.8% in premarket activity. The S&P 500 and Nasdaq Composite closed the previous trading session down for the second straight day, while the Dow finished green. Major technology stocks fell Thursday following a report from the Financial Times that OpenAI's annualized revenue stood at roughly $50 billion in September, below prior investor estimates of $70 billion. Nvidia (NVDA) closed Thursday down 2.9%, while Oracle (ORCL), Micron Technology (MU) and Broadcom (AVGO) fell 5.5%, 4.8% and 4.4%, respectively. Nvidia and Micron rebounded in Friday's premarket trading as Bloomberg reported that OpenAI expects to reach or exceed $70 billion in annualized revenue by year-end, citing people familiar with the matter. Wall Street's banking heavyweights, including JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs (GS), Morgan Stanley (MS), Wells Fargo (WFC) and Citigroup (C), are expected to release their third-quarter results next week, along with major healthcare corporations such as Johnson & Johnson (JNJ) and UnitedHealth (UNH). Investors will also be eyeing fresh inflation data due next week, including September consumer price index and wholesale producer price data. Treasury yields were trending higher early Friday, with the two-year rate inclining 3.3 basis points to 4.79% and the 10-year rate gaining 2.2 basis points to 5.26%. In a social media post on Thursday, President Donald Trump said the US won't be launching strikes against Iran at any time before the mid-term elections next month. Trump added that his administration is having "productive discussions" with Tehran. Trump's post comes after NBC News reported earlier in the week that Trump and his national security

BUZZ - Crescent Energy shares fall as it raises 1.1 billions in equity to acquire Devon

October 9 - Crescent Energy (CRGY.N) shares fell 1% to $12.88 in premarket trading on Friday after the company priced and completed a $1 billion follow-on offering related to an acquisition. The Houston, Texas-based shale oil and gas producer announced late Thursday that it would issue 80 million shares at $12.50 each, representing a 3.9% discount to its most recent closing price. CRGY will use the net proceeds from the offering to help fund its $4.2 billion acquisition of Devon Energy's (DVN.N) Eagle Ford oil and gas assets. A KKR (KKR.N) affiliate, which owns about 7.9% of CRGY, will subscribe to 40 million new shares. JPMorgan, KKR Capital Markets, Raymond James, Evercore, and Wells Fargo Securities will act as joint book-running managers for the offering. CRGY has approximately 330.4 million shares outstanding, with a market capitalization of $4.3 billion. The stock closed down 3.4% on Thursday, narrowing its year-to-date gain to 55%. According to data from London Stock Exchange Group (LSEG), 13 out of 16 analysts rate the stock as "strong buy" or "buy," 2 rate it "hold" and 1 recommends "sell," with a median price target of $18.50. DVN's shares were down 1.4% in premarket trading at $48.22. DVN rose 2.2% on Thursday, bringing its cumulative gain in 2026 to about 34%. (For the convenience of non-English speakers, Reuters has automated the translation of its reports into several other languages. Since automated translation may contain errors or lack necessary context, Reuters does not guarantee the accuracy of automated translation texts and provides them solely for reader convenience. Reuters accepts no liability for any damage or loss caused by the use of automated translation.)

Dow Jones Top Financial Services Headlines at 7 AM ET: Airtel Money Shares Rise on Debut But $7 Billion Valuation Misses Goal | Fed's ...

Airtel Money Shares Rise on Debut But $7 Billion Valuation Misses Goal Shares in the African digital financial-services platform opened higher on its first trading day in London, but missed the targeted $8 billion to $9 billion valuation. ---- Fed's Waller Sees Multiple Rate Increases Ahead to Cool Inflation In prepared remarks at the Istanbul Economic Forum, Christopher Waller said the economic data underscoring the need for interest-rate increases hasn't shifted much. ---- American Express Fined $350 Million After Failing to Stop Billions in Suspected Money Laundering The shortcomings are tied to the Bank Secrecy Act and anti-money-laundering compliance program. ---- Trump Throws His Weight Behind Credit-Card Legislation Most Feared by Banks The bill could upend the system that moves billions of dollars in fees that merchants hate and banks use to power rewards. ---- London's Private Markets Exchange Completes Another Auction But exchange's managers say it's too soon to talk about expansion. ---- Arini, Hedge Fund Known for Bold Bets, Loses 16% Investors continue to put money into Arini's $7.3 billion flagship fund, betting that rising rates will create more opportunities for its founder, Hamza Lemssouguer. ---- Global Bond Turmoil Reveals the Surprising Resilience of Emerging Markets "It's very clear that EM is behaving differently than in the past, and EM is holding up better than expected." ---- Q&A: Bitcoin Funds Are Expanding. HANetf's Co-CEO Explains Why Last week, London-based HANetf, an exchange-traded fund provider, launched the world's first euro-hedged bitcoin ETC-noting a shift in demand among its European client base. ---- U.K. Regulators Ready Green Light for $4 Billion ATM Tie-Up Between Brink's, NCR Atleos Authorities said the offer to sell off some parts of Brink's business should address concerns over the ATM operator's planned acquisition of its rival. ---- Financial Services Roundup: Market Talk Find insight on HSBC, Standard Chartered, ING Groep and more in the latest Market Talks covering

Ranger Energy Services completes $27.5 million STEP U.S. well services asset acquisition

Ranger Energy Services completed its purchase of STEP’s U.S. coiled tubing, fluid and nitrogen pumping well services assets on Oct. 8, 2026. Total consideration about $27.5 million, subject to post-closing adjustments; comprised of $22.5 million cash, 307,503 Class A shares valued at $5.0 million. Deal adds coiled tubing units, related equipment, operating assets, lease rights; includes assumed obligations tied to facility, vehicle, equipment leases. Cash portion funded through borrowings under the Wells Fargo revolving credit facility. 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. Ranger Energy Services Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001628280-26-065491), on October 09, 2026, and is solely responsible for the information contained therein.

Wells Fargo lowers BlackRock's target price to $1,230.

Dow Jones Top Financial Services Headlines at 12 AM ET: Fed's Waller Sees Multiple Rate Increases Ahead to Cool Inflation | American ...

Fed's Waller Sees Multiple Rate Increases Ahead to Cool Inflation In prepared remarks at the Istanbul Economic Forum, Christopher Waller said the economic data underscoring the need for interest-rate increases hasn't shifted much. ---- American Express Fined $350 Million After Failing to Stop Billions in Suspected Money Laundering The shortcomings are tied to the Bank Secrecy Act and anti-money-laundering compliance program. ---- Trump Throws His Weight Behind Credit-Card Legislation Most Feared by Banks The bill could upend the system that moves billions of dollars in fees that merchants hate and banks use to power rewards. ---- London's Private Markets Exchange Completes Another Auction But exchange's managers say it's too soon to talk about expansion. ---- Arini, Hedge Fund Known for Bold Bets, Loses 16% Investors continue to put money into Arini's $7.3 billion flagship fund, betting that rising rates will create more opportunities for its founder, Hamza Lemssouguer. ---- Global Bond Turmoil Reveals the Surprising Resilience of Emerging Markets "It's very clear that EM is behaving differently than in the past, and EM is holding up better than expected." ---- Q&A: Bitcoin Funds Are Expanding. HANetf's Co-CEO Explains Why Last week, London-based HANetf, an exchange-traded fund provider, launched the world's first euro-hedged bitcoin ETC-noting a shift in demand among its European client base. ---- U.K. Regulators Ready Green Light for $4 Billion ATM Tie-Up Between Brink's, NCR Atleos Authorities said the offer to sell off some parts of Brink's business should address concerns over the ATM operator's planned acquisition of its rival. ---- Financial Services Roundup: Market Talk Find insight on HSBC, Standard Chartered, ING Groep and more in the latest Market Talks covering financial services. ---- Wells Fargo Faces Regulator Probe Over Efforts to Boost Black Homeownership Trump's Housing and Urban Development is seeking to crack down on race-based lending, calling it a potential violation of the Fair Housing Act.

Deutsche Bank estimates the impact of rising interest rates: US major banks face capital pressure, and stock buybacks may collectively hit the brakes.

Deutsche Bank recently released an industry research report focusing on the capital pressure faced by large US banks amid a significant rise in interest rates expected in Q3 2026.

KBW's Michaud Explains What to Expect from a Pressured Q3 Bank Earnings Season

Dow Jones Top Financial Services Headlines at 4 PM ET: Q&A: Bitcoin Funds Are Expanding. HANetf's Co-CEO Explains Why | Global ...

Q&A: Bitcoin Funds Are Expanding. HANetf's Co-CEO Explains Why Last week, London-based HANetf, an exchange-traded fund provider, launched the world's first euro-hedged bitcoin ETC-noting a shift in demand among its European client base. ---- Global Bond Turmoil Reveals the Surprising Resilience of Emerging Markets "It's very clear that EM is behaving differently than in the past, and EM is holding up better than expected." ---- U.K. Regulators Ready Green Light for $4 Billion ATM Tie-Up Between Brink's, NCR Atleos Authorities said the offer to sell off some parts of Brink's business should address concerns over the ATM operator's planned acquisition of its rival. ---- Fed's Waller Sees Multiple Rate Increases Ahead to Cool Inflation In prepared remarks at the Istanbul Economic Forum, Christopher Waller said the economic data underscoring the need for interest-rate increases hasn't shifted much. ---- Financial Services Roundup: Market Talk Find insight on ING Groep, Man Group and more in the latest Market Talks covering financial services. ---- Wells Fargo Faces Regulator Probe Over Efforts to Boost Black Homeownership Trump's Housing and Urban Development is seeking to crack down on race-based lending, calling it a potential violation of the Fair Housing Act. ---- Ripple, Crypto's Payments Giant, Breaks Into Wall Street The crypto firm is emerging as a serious player in financing leveraged ETFs, a lucrative business long dominated by big banks. ---- Venture Firm Behind Chip Startup Groq Targets $10 Billion Megafund Winning bets on hot AI startups are vaulting a little-known Dallas firm into a small group of firms raising gigantic funds. ---- How one trend-following fund outperformed rivals by bringing humans back into the decision-making process One trend-following fund has outperformed rivals this year by deciding to take profits. ---- Wall Street Bonuses Are Expected to Hit Another High This Year New York reports that the industry is now on pace for $90 billion in profits this year, leading to higher compensati

Dow Jones Top Financial Services Headlines at 11 AM ET: Q&A: Bitcoin Funds Are Expanding. HANetf's Co-CEO Explains Why | Global ...

Q&A: Bitcoin Funds Are Expanding. HANetf's Co-CEO Explains Why Last week, London-based HANetf, an exchange-traded fund provider, launched the world's first euro-hedged bitcoin ETC-noting a shift in demand among its European client base. ---- Global Bond Turmoil Reveals the Surprising Resilience of Emerging Markets "It's very clear that EM is behaving differently than in the past, and EM is holding up better than expected." ---- U.K. Regulators Ready Green Light for $4 Billion ATM Tie-Up Between Brink's, NCR Atleos Authorities said the offer to sell off some parts of Brink's business should address concerns over the ATM operator's planned acquisition of its rival. ---- Choosing the Right Bond Strategy for Today's High-Yield World Before chasing higher rates, bond buyers have to figure out what type of investor they actually are. ---- Fed's Waller Sees Multiple Rate Increases Ahead to Cool Inflation In prepared remarks at the Istanbul Economic Forum, Christopher Waller said the economic data underscoring the need for interest-rate increases hasn't shifted much. ---- Financial Services Roundup: Market Talk Find insight on ABN Amro Bank, Standard Life and more in the latest Market Talks covering financial services. ---- Wells Fargo Faces Regulator Probe Over Efforts to Boost Black Homeownership Trump's Housing and Urban Development is seeking to crack down on race-based lending, calling it a potential violation of the Fair Housing Act. ---- Ripple, Crypto's Payments Giant, Breaks Into Wall Street The crypto firm is emerging as a serious player in financing leveraged ETFs, a lucrative business long dominated by big banks. ---- Venture Firm Behind Chip Startup Groq Targets $10 Billion Megafund Winning bets on hot AI startups are vaulting a little-known Dallas firm into a small group of firms raising gigantic funds. ---- How one trend-following fund outperformed rivals by bringing humans back into the decision-making process One trend-following fund has outperformed rivals this year by deciding to take profits. ---- Wal

Dow Jones Top Financial Services Headlines at 7 AM ET: U.K. Regulators Ready Green Light for $4 Billion ATM Tie-Up Between Brink's, NCR Atleos | Choosing ...

U.K. Regulators Ready Green Light for $4 Billion ATM Tie-Up Between Brink's, NCR Atleos Authorities said the offer to sell off some parts of Brink's business should address concerns over the ATM operator's planned acquisition of its rival. ---- Choosing the Right Bond Strategy for Today's High-Yield World Before chasing higher rates, bond buyers have to figure out what type of investor they actually are. ---- Wells Fargo Faces Regulator Probe Over Efforts to Boost Black Homeownership Trump's Housing and Urban Development is seeking to crack down on race-based lending, calling it a potential violation of the Fair Housing Act. ---- Ripple, Crypto's Payments Giant, Breaks Into Wall Street The crypto firm is emerging as a serious player in financing leveraged ETFs, a lucrative business long dominated by big banks. ---- Venture Firm Behind Chip Startup Groq Targets $10 Billion Megafund Winning bets on hot AI startups are vaulting a little-known Dallas firm into a small group of firms raising gigantic funds. ---- How one trend-following fund outperformed rivals by bringing humans back into the decision-making process One trend-following fund has outperformed rivals this year by deciding to take profits. ---- Financial Services Roundup: Market Talk Find insight on HSBC Holdings, BBVA, Standard Life and more in the latest Market Talks covering financial services. ---- Wall Street Bonuses Are Expected to Hit Another High This Year New York reports that the industry is now on pace for $90 billion in profits this year, leading to higher compensation. ---- Fintech Plaid Bets on Credit Scores to Fuel Next Phase of Growth EXCLUSIVE: Plaid is doubling down on its credit-scoring business with new AI models as the company aims to chart its next era of growth with a suite of products beyond its core business. ---- Companies Raise More Than $1 Trillion in Equity Markets, But AI, Bond Yields Sour Mood Markets had been expecting a bumper quarter following an ebullient start to the year crowned by SpaceX's record-breaking IPO. ---- Fo

PACCAR INC : WELLS FARGO CUTS TARGET PRICE TO $122 FROM $157

PACCAR INC : WELLS FARGO CUTS TARGET PRICE TO $122 FROM $157

WELLS FARGO <WFC.N>: TD COWEN RESUMES COVERAGE WITH BUY VS HOLD RATING; TARGET PRICE $95 VS $100

WELLS FARGO : TD COWEN RESUMES COVERAGE WITH BUY VS HOLD RATING; TARGET PRICE $95 VS $100

Dow Jones Top Financial Services Headlines at 12 AM ET: Wells Fargo Faces Regulator Probe Over Efforts to Boost Black Homeownership | Ripple, ...

Wells Fargo Faces Regulator Probe Over Efforts to Boost Black Homeownership Trump's Housing and Urban Development is seeking to crack down on race-based lending, calling it a potential violation of the Fair Housing Act. ---- Ripple, Crypto's Payments Giant, Breaks Into Wall Street The crypto firm is emerging as a serious player in financing leveraged ETFs, a lucrative business long dominated by big banks. ---- Venture Firm Behind Chip Startup Groq Targets $10 Billion Megafund Winning bets on hot AI startups are vaulting a little-known Dallas firm into a small group of firms raising gigantic funds. ---- How one trend-following fund outperformed rivals by bringing humans back into the decision-making process One trend-following fund has outperformed rivals this year by deciding to take profits. ---- Financial Services Roundup: Market Talk Find insight on HSBC Holdings, BBVA, Standard Life and more in the latest Market Talks covering financial services. ---- Wall Street Bonuses Are Expected to Hit Another High This Year New York reports that the industry is now on pace for $90 billion in profits this year, leading to higher compensation. ---- Fintech Plaid Bets on Credit Scores to Fuel Next Phase of Growth EXCLUSIVE: Plaid is doubling down on its credit-scoring business with new AI models as the company aims to chart its next era of growth with a suite of products beyond its core business. ---- Companies Raise More Than $1 Trillion in Equity Markets, But AI, Bond Yields Sour Mood Markets had been expecting a bumper quarter following an ebullient start to the year crowned by SpaceX's record-breaking IPO. ---- Forbion Raises $2.6 Billion in Boost to European Biotech Industry Dutch haul comes despite European drugmakers and investors warning the region is losing ground. ---- Hackers Use Chinese AI Tool to Hit South Korean Banks, Exposing New Risk The attacks were the latest to highlight the vulnerability of even hardened targets to hackers using freely available artificial-intelligence tools. ---- KKR Strikes Deal to B

Stock Market Falls After Hitting Record Highs. What Changed Overnight?

TTEC cuts revolving credit commitments to $960 million under amended Wells Fargo-led facility

TTEC entered a twelfth amendment to its amended and restated credit agreement with lenders led by Wells Fargo as administrative agent. Revolving credit commitments cut by $15 million to $960 million; total revolving loans, swing loans, letters of credit capped at $950 million. Higher pricing delayed to Nov. 16, 2026; revolving-loan margins stay at 3.25% for SOFR loans, 2.25% for base-rate loans. Extension fee removed; upfront lender fee set at $2.4 million. 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. TTEC Holdings Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-26-114376), on October 07, 2026, and is solely responsible for the information contained therein.

Dow Jones Top Financial Services Headlines at 4 PM ET: Wells Fargo Faces Regulator Probe Over Efforts to Boost Black Homeownership | Venture ...

Wells Fargo Faces Regulator Probe Over Efforts to Boost Black Homeownership Trump's Housing and Urban Development is seeking to crack down on race-based lending, calling it a potential violation of the Fair Housing Act. ---- Venture Firm Behind Chip Startup Groq Targets $10 Billion Megafund Winning bets on hot AI startups are vaulting a little-known Dallas firm into a small group of firms raising gigantic funds. ---- How one trend-following fund outperformed rivals by bringing humans back into the decision-making process One trend-following fund has outperformed rivals this year by deciding to take profits. ---- Financial Services Roundup: Market Talk Find insight on HSBC Holdings, BBVA, Standard Life and more in the latest Market Talks covering financial services. ---- Wall Street Bonuses Are Expected to Hit Another High This Year New York reports that the industry is now on pace for $90 billion in profits this year, leading to higher compensation. ---- Fintech Plaid Bets on Credit Scores to Fuel Next Phase of Growth EXCLUSIVE: Plaid is doubling down on its credit-scoring business with new AI models as the company aims to chart its next era of growth with a suite of products beyond its core business. ---- Companies Raise More Than $1 Trillion in Equity Markets, But AI, Bond Yields Sour Mood Markets had been expecting a bumper quarter following an ebullient start to the year crowned by SpaceX's record-breaking IPO. ---- Forbion Raises $2.6 Billion in Boost to European Biotech Industry Dutch haul comes despite European drugmakers and investors warning the region is losing ground. ---- Hackers Use Chinese AI Tool to Hit South Korean Banks, Exposing New Risk The attacks were the latest to highlight the vulnerability of even hardened targets to hackers using freely available artificial-intelligence tools. ---- KKR Strikes Deal to Buy Private-Capital Fund Administrator Gen II Private-capital funds have proliferated in recent years as investors seek to reduce reliance on public markets. ---- NYSE Owner Launches Gold Fu

U.S. stocks fluctuate | European bank stocks mostly fall, Deutsche Bank (DB.US) down 5%

According to Zhihui Finance APP, on Wednesday, European bank stocks generally declined, with Deutsche Bank (DB.US) dropping 5%, HSBC Holdings (HSBC.US) falling 4%, and Santander Bank (SAN.US) slipping over 3%. Major U.S. banks also followed the downward trend: Goldman Sachs (GS.US) dropped nearly 3%, Citigroup (C.US) declined over 2%, while JPMorgan (JPM.US), Wells Fargo (WFC.US), Morgan Stanley (MS.US), and Bank of America (BAC.US) all fell by more than 1%.

AIRBNB, INC. : WELLS FARGO CUTS TARGET PRICE TO $185 FROM $186

AIRBNB, INC. : WELLS FARGO CUTS TARGET PRICE TO $185 FROM $186

Wells Fargo Financial Advisor Team That Oversaw $1.1 Billion Jumps to LPL Financial -- Barrons.com

By Kenneth Corbin A brokerage and investment advisor team that oversaw $1.1 billion in client assets at Wells Fargo has joined LPL Financial. The Praxis Financial Partners group registered with LPL on Sept. 14. LPL announced the move on Monday. Praxis, based in the Atlanta suburb of Alpharetta, Ga., includes four advisors and six support staffers. They have joined LPL's broker-dealer and registered investment advisor platforms. The team serves clients in 24 states, catering to business owners, retirees, corporate executives, and multigenerational families. Praxis, a derivative of the Greek word for "process," also advises on retirement plan assets. The practice had been affiliated with Wells Fargo's FiNet, its channel for independent advisors. Even in that model, the Praxis team was seeking more freedom to operate its practice, saying it opted for LPL in part because of LPL's planning tools and the ability to create its own technology configuration. "The financial advice landscape continues to evolve rapidly, and we wanted a partner that allows us to stay ahead of those changes," says Scott Christian, a Praxis advisor and one of the founders of the practice. "LPL's open architecture platform gives us the freedom to build the wealth management ecosystem we believe best serves our clients." Praxis says it evaluated more than a dozen firms before opting to affiliate with LPL. Wells Fargo declined to comment on the departure. Christian, who is a Certified Financial Planner, first registered a broker in 1989 with Merrill Lynch and joined Wells Fargo in 2013, the year he cofounded Praxis with Cecil Lloyd, a longtime colleague. Lloyd first registered with Merrill Lynch in 1985. Both are dually registered as brokers and advisors. The Praxis team also includes advisors Jay Gentry and Matt Dion. Gentry had a long career in asset management distribution before joining Praxis in 2020. Dion joined the practice in 2024. In addition to the advisors, support staffers Jody Smith, Zac Hirschler, Ashlyn Presley, Ellen Rick, Seleena

WERNER ENTERPRISES, INC. <WERN.O>: WELLS FARGO CUTS TARGET PRICE TO $37 FROM $46

WERNER ENTERPRISES, INC. : WELLS FARGO CUTS TARGET PRICE TO $37 FROM $46

Data Brief - Major Brokerages' Predictions for the S&P 500 Index in 2026

Stifel and Jefferies have updated their forecasts. Reuters, October 6 – Global brokerages expect the benchmark S&P 500 Index (.SPX) to extend its rally into 2026, betting on the momentum of artificial intelligence and strong corporate profits, while the war in Iran (link) continues to weigh on investor sentiment. Strategists predict robust AI-driven earnings will offset the short-term economic impacts of Middle East conflicts, though concerns about rising inflation and global energy supply disruptions persist. Major brokerages, including Goldman Sachs and Citigroup, expect the benchmark index to reach 8,000 points or higher by year-end. In contrast, BofA Global Research and Wells Fargo remain more cautious, with forecast levels (link) below the consensus. Here are some forecasts for the index's performance this year: Brokerage S&P 500 Target for 2026 BofA Global Research 7,400 Concord Financial 7,500 BNP Paribas 7,500 Wells Fargo 7,700 Evercore ISI 7,750 Seaport Research Partners 7,800 RBC Capital Markets 7,900 Stifel 7,900 Barclays 7,950 Jefferies 8,000 JPMorgan 8,000 Deutsche Bank 8,000 Société Générale 8,000 Goldman Sachs 8,000 Morgan Stanley 8,000 UBS Global Research 8,100 Oppenheimer Asset Management 8,100 Citigroup 8,100 UBS Global Wealth Management 8,100 HSBC 8,100 Wells Fargo Investment Institute 7,800-8,000 *UBS Global Research and UBS Global Wealth Management are two separate business divisions under UBS Group. *Wells Fargo Investment Institute is a wholly-owned subsidiary of Wells Fargo. (To facilitate non-English speakers, Reuters automatically translates its reports into several other languages. Since automated translations may be inaccurate or lack necessary context, Reuters does not guarantee the accuracy of these texts and provides them only for reader convenience. Reuters accepts no liability for any damages or loss caused by the use of automated translation features.)

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.)