Here’s a look at some of the companies the Yahoo Finance team will be watching for you.
Reuters reports that Wells Fargo (WFC) is facing fresh sanctions after it tricked customers, this time in the auto sector. Regulators found that while Wells already requires its customers to have auto insurance, it was using a loophole to force more than half a million consumers who had a lapse in insurance, to double up and then made profits on those payments.
Disney (DIS) is prepping for CEO Bob Iger’s retirement. According to the Wall Street Journal, Kevin Mayer, Disney’s head of strategy, was named chairman of a new direct-to-consumer segment, while parks chief Robert Chapek added consumer products to his portfolio. The moves better positions the execs to take over for Iger who recently extended his tenure into 2021, contingent upon the company’s deal with Fox.
iHeartMedia (IHRT) filed for bankruptcy today. The largest U.S. radio station owner reached a deal to cut its debt by more than $10B. The agreement allows iHeart to restructure its business and continue its day to day operations. The stock closed at a meager 48¢ yesterday.
Apple (AAPL) wants parents on its side. The iPad maker is making it easier for parents to track their kids screen time with its new Families landing page. The page instructs parents on how to navigate the tech giant’s parental controls which have already been out since 2008.