|Bid||48.93 x 1400|
|Ask||49.60 x 1800|
|Day's Range||48.40 - 49.00|
|52 Week Range||43.02 - 55.81|
|Beta (3Y Monthly)||1.21|
|PE Ratio (TTM)||10.11|
|Earnings Date||Oct 15, 2019|
|Forward Dividend & Yield||2.04 (4.17%)|
|1y Target Est||48.48|
While the vast majority of our Ultimate Stock-Pickers are not dividend investors, a handful of them--Amana Trust Income AMANX , Columbia Dividend Income LBSAX , Oakmark Equity & Income OAKBX , and Parnassus Equity Income PRBLX --focus more heavily on income-producing stocks in their pursuit of investment return. Warren Buffett at Berkshire Hathaway BRK.B has spoken highly of companies that return capital to shareholders and is not against investing in and holding higher-yielding names, with three of Berkshire's top five holdings--wide-moat rated Wells Fargo WFC , Bank of America BAC , and Coca-Cola KO --accounting for about one third of the insurer's equity portfolio and yielding more than the S&P 500. As you may recall from previous articles, when we screen for top dividend-paying stocks among the holdings of our Ultimate Stock-Pickers, we try to find the highest-quality names that are currently held with conviction by our top managers.
Greater Washington’s retail banking market may have new entrants vying for business and upstarts gaining market share, but the biggest players remain the same. The overall top 10 banks by deposits in Greater Washington remain unchanged, according to the data, which is an FDIC snapshot of deposits in the region as of June 30.
- Q2 2019 share repurchases were $164.5 billion - 20.1% lower than Q1 2019, 13.7% lower than Q2 2018, and 26.2% lower than the record Q4 2018. - Apple continues to lead, spending $18.2 billion - down from ...
Wells Fargo & Company (WFC) today announced $600,000 in donations to local nonprofits to support housing, education and neighborhood revitalization for Los Angeles residents. “The NeighborhoodLIFT program is another example of our commitment to Los Angeles and our efforts to bring forward housing affordability solutions to communities across the U.S.,” said David Galasso, Wells Fargo lead region president Greater California .
Wells Fargo & Company (WFC), NeighborWorks® America and its network member New Jersey Community Capital today announced that the 75th LIFT program, designed to boost homeownership, will expand to Essex County, N.J., this fall. With a $5 million philanthropic commitment by the Wells Fargo Foundation, the NeighborhoodLIFT program will create more than 180 Essex County homeowners by offering $20,000 down payment assistance grants that require completion of HUD-certified homebuyer education.
(Bloomberg) -- The economy’s biggest pillar -- the American shopper -- stood steadfast through a summer of mounting economic challenges characterized by soft global growth and trade uncertainty.Figures released Friday showed August retail sales advanced more than forecast, while consumer sentiment rebounded from an almost three-year low. Treasury yields and stocks moved higher as the data helped reassure investors that households will continue delivering for the economy and keep it moving forward, albeit at a slower pace.The value of overall sales rose 0.4% from the prior month, led by motor vehicles and online purchases, after an upwardly revised 0.8% increase in July, according to the Commerce Department. The University of Michigan’s index of consumer sentiment increased 2.2 points to 92, higher than the median forecast in a Bloomberg survey of economists.Spurred by a resilient labor market and income gains, the consumer remains the chief source of firepower for economic growth that’s slowed amid fragile global demand, uncertainty surrounding trade policy and lackluster factory output. The report suggests another solid quarter of household consumption, which grew in the April-June period at the fastest pace since 2014.“At a time when recession risk dominates most economic discussions, the strength of the U.S. consumer is among the more compelling examples of an economy that is still firing on all cylinders,” Tim Quinlan, senior economist at Wells Fargo Securities LLC, said in a report.Sales in the closely watched “control group” subset -- which some analysts view as a more reliable gauge of underlying consumer demand -- increased 0.3%, matching projections. The measure excludes food services, car dealers, building-materials stores and gasoline stations.In their effort to preserve the longest-running U.S. expansion, Federal Reserve policy makers reduced their benchmark interest rate by a quarter point in July. They’re projected to lower it again next week as a bulwark against the possibility that sluggish global demand and weaker trade spill over into the domestic economy more broadly.Trade tensions showed some easing this week, with China saying earlier Friday that it’s encouraging companies to buy U.S. farm products including soybeans and pork. The two sides are set to resume face-to-face discussions in coming weeks. Improved chances of an agreement have helped return U.S. stocks to near a record high, even after President Donald Trump imposed levies on a wide range of Chinese goods as of Sept. 1.The Michigan sentiment survey showed tariffs remain a concern. Some 38% of respondents made spontaneous references to the negative economic impact, the most since March 2018, according to the report.Nonetheless, consumers were more upbeat in August than a month earlier about current economic conditions and expectations.While the retail sales report was solid overall, some of the details were more mixed: Seven of 13 major categories showed monthly declines, including restaurants, which posted the biggest drop in almost a year.Grocery stores, department stores and apparel retailers registered declines in receipts from a month earlier. What’s more, the gain in the control group subset was the smallest in six months, indicating personal consumption will decelerate from the robust second-quarter pace.On the positive side, spending at automobile and parts dealers climbed 1.8% from the prior month, the most since March, after increasing 0.1% in July. Industry data from Wards Automotive Group previously showed August unit sales rose 0.9% after falling in July to a three-month low.Non-store sales, which includes online shopping, jumped 1.6%. The category posted a 1.7% gain in July amid Amazon.com Inc.’s 48-hour Prime Day event, which the company said surpassed sales from the previous Black Friday and Cyber Monday combined. The promotion, now in its fifth year, likely drove comparison shoppers to rivals like Walmart Inc. and Target Corp.Filling-station receipts decreased 0.9%, the report showed, after gasoline prices dropped 3.5% in Thursday’s consumer-price data. The retail figures aren’t adjusted for price changes, so sales could reflect changes in gasoline costs, sales, or both.Get MoreRetail sales estimates in Bloomberg’s survey of economists for ranged from a 0.2% decline to a 0.6% gain from the prior month. Control-group sales increased an annualized 8.1% over the latest three months versus a 9.4% rate in the same period through July.The sales data don’t capture all of household purchases and tend to be volatile because they’re not adjusted for changes in prices. Personal-spending figures, which also span services, will offer a fuller picture of consumption in data due at the end of the month. \--With assistance from Jordan Yadoo, Mark Tannenbaum and William Edwards.To contact the reporter on this story: Vince Golle in Washington at email@example.comTo contact the editors responsible for this story: Scott Lanman at firstname.lastname@example.org, Jeff KearnsFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Rising long-term treasury yields are likely to support banks' financials to some extent. But lower interest rates and other concerns are expected to be headwinds.
Kevin Burke, who has been with Wells Fargo for 16 years, was promoted to oversee both markets as commercial banking market executive, including offices in Albany as well as Greenwich, Hartford and Shelton, Connecticut.
Challenging operating backdrop and muted loan growth are likely to continue to adversely impact Morgan Stanley's (MS) prospects in the second half of 2019.
[Editor's note: "9 Best Dividend Stocks to Buy for Every Investor" was previously published in July 2019. It has since been updated to include the most relevant information available.]No matter where we are in the economic cycle, it's always good to remind ourselves of what worked and what didn't. In 2017, Wall Street forecast a rough yea,r but quite the opposite happened. Benchmark indices hit all-time records, while investors ended up being upbeat about most sectors.In 2018, the long-running bull market took a breather as investors switched from risk-on to risk-off.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThis year so far has only been a little forgiving and that might not last, which is why I recommend that investors get selective. Fortunately, with dividend stocks, investors don't have to feel pressured to always pick winners. * 10 Battered Tech Stocks to Buy Now Although picking high-flying growth companies is a sexier endeavor, they aren't always the smartest stocks to buy. With passive-income yielding firms, you get the potential to make capital gains and obtain residual payouts to bolster your position. During a down period, dividends can also help you ride out the storm.But don't mistake benefiting from these yields as "boring" strategies. As with any asset class, you can dial up the risk for the chance of greater rewards.. No one knows your investment style better than you!The following ideas are broken down into three sections: stable, mid-level and high-yield (speculative). Each section has something to offer, depending on how much risk you're willing to take. Johnson & Johnson (JNJ)Current Dividend Yield: 2.9%If you love stable dividend stocks, Johnson & Johnson (NYSE:JNJ) is one of the best dividend stocks to buy. It is the powerhouse brand of powerhouse brands. Better yet, JNJ is levered toward the ultimate in non-cyclical industries: healthcare. Selling consumer-level products, pharmaceuticals, and medical devices, JNJ is one of the most respected companies in the world.Source: Shutterstock Currently, Johnson & Johnson's dividend yield is 2.9%. But what people may not immediately appreciate is that JNJ can also surprise people in the capital markets. For instance, since mid-2015, shares are up nearly 40%.Critically for conservative investors, JNJ rarely loses. Between 1970 to the end of 2018, annual returns average almost 15%. Moreover, JNJ only hit red ink 14 times, meaning that 72% of the time, you can expect shares to win.In our business, that's as close to a sure thing as you're gonna get! Wells Fargo (WFC)Current Dividend Yield: 4.22%I'll admit that I wasn't thrilled about putting Wells Fargo & Co (NYSE:WFC) into my dividend stocks to buy list. You'll recall that WFC was embroiled in a major controversy that shocked the entire financial and business community. Essentially, the banking giant admitted to creating more than two million fake accounts to meet ambitious sales targets.Source: Shutterstock It made me sick and I'm not the only one. But eventually, people get over this stuff, perhaps resigned to the fact that the major conglomerates always win. I even made the argument that Equifax Inc (NYSE:EFX) -- yes, that Equifax -- would be forgiven. * 10 Battered Tech Stocks to Buy Now As cynical as it may sound, what good will being angry do for any of us? Today Equifax is just around a few percent off its pre-scandal highs, and Wells Fargo is now above its pre-scandal highs.It stinks that the ultra-rich get away with bloody murder. From a financial perspective, though, WFC is an opportunity. It's slowly making recovery inroads. Most important, WFC spits out the biggest dividend yield among the "big four" at more than 4%. That may be the price of forgiveness! Exxon Mobil (XOM)Current Dividend Yield: 4.84%Again, on the surface level, Exxon Mobil (NYSE:XOM) is a strange name to put on a "best dividend stocks" list. Energy is hardly the most consistent sector. More to the point, XOM has been on the wrong end of a market shake-up. Since the oil collapse of 2014, XOM has at best been treading water against prior highs.Source: Shutterstock But the flip side to this bearish argument is that in practical ways, energy is the most consistent sector possible. When people hit the switch, they expect the lights to turn on. Similarly, when they go to the gasoline station, they expect to fill their tanks. Without XOM and its ilk, none of these things would occur. A societal breakdown could commence.In all seriousness, investors should be encouraged by Exxon Mobil's response to the oil market downturn. They and the remaining survivors have revamped their operations and rid themselves of unproductive assets. Today, XOM and the oil community are leaner, meaner, and better prepared for whatever lies ahead.In other words, XOM has proven its resilience, adding another 5.5% since the beginning of the year. As a conservative investor, you can buy that 4.8% yield with confidence. Duke Energy (DUK)Current Dividend Yield: 4%If you're a real numbers person, you'll want to pay attention to Duke Energy (NYSE:DUK). Based on a quantitative model that our own Louis Navellier developed, DUK is one of the best dividend stocks to buy. Mixing in commonly-used metrics (ie. earnings momentum) as well propriety methods, DUK appears primed for a stellar new year.Source: Shutterstock I prefer to keep it simple if there's no real need to complicate things. Here's what I'm looking at: Since the tech bubble and the 2008 financial crisis, DUK has steadily rewarded investors with few hiccups. This year, DUK is set to return more than 13% if its yield and price stay at their current levels for the rest of 2019.All indications suggest that Duke Energy can keep the good times flowing into next year. As it stands, the company is the seventh-largest electric utility company in the U.S. Furthermore, management has retired many of its coal power plants, focusing instead on natural gas and cleaner energy sources. * 10 Battered Tech Stocks to Buy Now Currently, DUK stock yields 4%. Although slightly riskier than your conservative dividend play, Duke Energy has the right balance between stability and income. AT&T (T)Current Dividend Yield: 5.3%I have to say that AT&T Inc. (NYSE:T) disappointed me this year in the capital markets. Typically, AT&T is like clockwork, more often than not, you know what you're getting. This year was the anomaly.Source: Mike Mozart via FlickrT stock dropped like a rock last year but managed to recover its losses and then some, adding nearly 36% so far this year.Keep in mind that between 1984 through 2016, AT&T's annual returns average more than 13%. During this time, T stock has only lost eight times out of 33. AT&T has been a winner almost 75% of the time.Like the aforementioned JNJ, at this rate, T stock is practically a sure thing. The only difference is the reward. AT&T offers a whopping 5.3% dividend yield! Welltower Inc (WELL)Current Dividend Yield: 3.97%It's always a little amusing to see a generation come of age. The news flash that everyone else knows instinctively is that time stops for no one; "youth is wasted on the young."Source: sima dimitric via FlickrWith that harsh reality in mind, I bring to you Welltower (NYSE:WELL). WELL stock is a real estate investment trust specializing in senior care and facilities. Even if you're one of the young millennials who see no use for Welltower, you still might put your parents into one of their centers. * 10 Battered Tech Stocks to Buy Now Joking aside, I can think of no other business where revenues are virtually guaranteed, save for a funeral home. Although Welltower's market performance has been a little choppy, in the long haul, Welltower has been a steady investment.Of course, we can't forget the dividend yields, which for WELL stands at nearly 4%. Blackstone Group (BX)Current Dividend Yield: 4.1%Moving on to the speculative side of dividend stocks, we have Blackstone Group (NYSE:BX). If you were to simply assess BX based on this year's performance alone, Blackstone wouldn't seem at all risky. In 2019, BX has gained 69% (excluding dividends) making it a solid performer.Source: Shutterstock Typically, strong capital returns and high yields don't go together. With a dividend yield of 4%, Blackstone's passive income is right around the same as an average mutual fund. So what gives?Let's just say that BX will probably never make the list of best "feel good" stocks. The financial firm has been involved in a number of controversies, ranging from scandalous real-estate practices to shadow banking. It's really one of those profit-at-all-costs kind of companies. But hey, who said Wall Street was a friendly place? Kimco Realty Corp (KIM)Current Dividend Yield: 5.55%I will tell you straight up that anything involving brick-and-mortar retail is a risky game. Earlier this year, I cautioned my readers about investing in retail REITs. With overall declining foot-traffic, the physical retail space doesn't have the appeal it once did. Of course, the most important factor is e-commerce. Why sit in traffic and wait in lines when you can shop conveniently at Amazon (NASDAQ:AMZN)?Source: Shutterstock The flip side to this argument is that there are some retail sectors that Amazon has trouble ousting. For instance, most people find it more convenient to size their clothing at a physical apparel shop than guessing online.In addition, some store brands offer better pricing or a better experience than Amazon. Think Wal-Mart (NYSE:WMT), Costco (NASDAQ:COST) and Best Buy (NYSE:BBY). * 10 Battered Tech Stocks to Buy Now A retail REIT that focuses on strong brands just might have a chance, hence Kimco (NYSE:KIM). KIM features multiple properties running highly demanded store brands. Moreover, a good chunk of their properties are located in lucrative markets.Will it be enough to overcome the risk to the entire sector? I'm not so sure, which helps explain Kimco's 5.55% dividend yield. If you're a believer, KIM stock gives you a solid opportunity. Sotherly Hotels Inc (SOHO)Current Dividend Yield: 7.77%Thanks to the abundance of consumer-level technologies, traditional industries face obsolescence. A decade ago, if you needed to go to the airport, you essentially had to call a cab. Now, with ride-sharing apps like Uber or Lyft, you can request a similar service conveniently through your smartphone.Source: Anders Jilden via UnsplashA similar upheaval may occur in the hotel industry, thanks to apps like Airbnb. To survive in this rough-and-tumble sector, you need a fresh approach. Sotherly Hotels (NASDAQ:SOHO) just might have the magic formula. Centered largely in the southern region of the U.S., SOHO provides an authentic, unique experience for its guests.Apparently, most millennials want brands to be more authentic, and that fits SOHO to a T. Visit any of their locations, and you feel like a welcomed member of a community, not some room number. Plus, former NFL star Herschel Walker sits on the board of directors. That's just downright awesome!But will any of this matter for investors? Again, it's a tough call given so many changes in the hospitality and services sector. Still, with a 7.77% dividend yield, SOHO is worth a second look.As of this writing, Josh Enomoto did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Battered Tech Stocks to Buy Now * 7 Strong-Buy Stocks Hedge Funds Are Buying Now * The 7 Best Penny Stocks to Buy The post 9 Best Dividend Stocks to Buy for Every Investor appeared first on InvestorPlace.
[Editor's note: "9 Stocks That Every 20-Year-Old Should Buy" was previously published in July 2019. It has since been updated to include the most relevant information available.]Investing in your 20s is not only smart, it's exciting. The best part about creating a long-term portfolio, whether while going back to school or taking time off, is having the time to invest in undervalued companies.When looking at stocks to buy in your 20s, it's all about opportunity cost, which is spent in spades throughout your late-teens and as an aimless 20-something. Long-term investors have the benefit of time, allowing them to ride out turbulence others can't.InvestorPlace - Stock Market News, Stock Advice & Trading TipsYour 20s are a time of future-gazing, and as an investor, you should choose adaptable companies capitalizing on current trends. Just remember, no matter how solid the investment, it will go through periods of ups and downs.Centering your portfolio around risky stocks, however, isn't a brick-by-brick blueprint toward retirement wealth -- you should also consider faithful, dividend-paying stocks. Just like knowledge, wealth grows slowly and steadily. * 7 Stocks to Buy In a Flat Market While analysts claim there are some stocks you can hold "forever," it's important to keep up with what's in your portfolio and make changes according to how each company develops.If you're a 20-something looking to capitalize on long-term growth and dividends, then the following 10 stocks to buy are worth a look. TripAdvisor (TRIP)Source: Shutterstock Shares of travel review site TripAdvisor (NASDAQ:TRIP) took a beating in 2017 and 2018 mostly on investor concerns about new entrants like Airbnb and new search tools from powerhouses like Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) disrupting the space.However, TRIP stock has since made a significant comeback.Part of this comeback is the fact that TripAdvisor has something no other site in the online travel industry does: extensive data. Knowledge is power and TRIP definitely has that going for itself. The company is home to one of the largest online collections of traveler reviews, boasting over 500 million reviews encompassing seven million hospitality businesses.What's that mean exactly? For starters, access to mounds of data means TripAdvisor can better optimize the experience it offers its 415 million monthly users. That means pricing optimization, special offers tailored individually and stronger insights than competitors into their customers' needs.And that's only just scratched the surface of what it can do with such a robust database. Global tourism generated $7.6 trillion in 2014, and so long as it continues to grow, TRIP will continue beefing up its user database.For comparison's sake, Expedia (NASDAQ:EXPE) only brings in 84.5 million monthly users, while Priceline (NASDAQ:PCLN) has a fraction at 16 million.Having access to such robust data informs TripAdvisor's strategy, as the company recently reined in its InstantBooking feature in favor of giving users the superior experience of price comparisons that direct bookings to partner sites.According to Forbes, 70% of millennials say they're working just to pay for vacations and travel. Gen Z is becoming increasingly obsessed with travel from a social perspective. They want to go places and share their experience with others. TripAdvisor not only operates in the travel space, but its primary function is helping people find experiences others have enjoyed.Further, TRIP is expanding the functionality of its mobile site and app, both of which should help the firm gain traction with millennials. With the firm about to turn a corner, now would be a great time to add the stock to your long-term portfolio. Chevron (CVX)Source: Shutterstock While your 20s are definitely a time to make risky bets on growth stocks, it's important to round out your portfolio with stocks to build wealth slowly and steadily. That's why dividend stocks are attractive, particularly if they're consistent and sustainable. To that end, we have Chevron (NYSE:CVX), which is a dividend aristocrat.That doesn't mean it's walking around in fancy robes with its nose up, it means Chevron has increased its dividend annually without interruption for the past 25 years.Dividend aristocrats typically do whatever they can to maintain their status and that's certainly true in Chevron's case.Chevron currently yields just shy of 4%, which management continued to pay out even when crude prices were scraping the bottom of the barrel. With the firm on the rebound, investors will benefit from Chevron's cost-cutting measures and increased efficiency.Meanwhile, management is focused on improving profitability, even during the down cycle, which should be a boon for CVX stock as crude prices increase.Another thing to like about CVX is that it has a relatively small debt load with a quarterly debt-equity ratio of just 24%. Compare that to BP (NYSE:BP), for example, which has a debt ratio of 63%, and you can see that CVX is on the low end of debt accumulation in the oil sector.Chevron is a tightly run ship, giving the firm the ability to thrive in difficult times. That's good for long-term investors who might see oil cycle through another down period in the years to come. * 7 Deeply Discounted Energy Stocks to Buy Looking toward future growth, CVX is expecting to see its production rise to nearly three million barrels per day over the next 10 years. That figure takes into account Chevron's anticipated shale and capital projects as well as the firm's cost-cutting measures, which significantly reduced the firm's exploration potential.The firm's $200 billion market cap makes it one of the largest companies in the U.S. and a solid pick in the oil and gas sector. CVX offers stability and income growth, both of which will be useful to investors in their 20s. Facebook (FB)Source: Ink Drop / Shutterstock.com Investing in Facebook (NASDAQ:FB) now doesn't sound like an entirely new idea, but Zuckerberg & Co.'s days as merely a social media site are ending. I'm expecting to see the firm morph into an even larger tech powerhouse in the decades to come.Facebook has size and scale on its side, which is a huge advantage in the tech space. The company owns the two most popular messaging services in the world, Messenger and WhatsApp, and has yet to do anything about monetizing them.Simply allowing businesses to communicate directly with customers through these platforms would be a big moneymaker for FB advertising wise, but most expect that Facebook has bigger plans to harness the potential Messenger and WhatsApp hold.FB has also developed payment platforms, which would allow businesses to charge for services they offer via Facebook.Not only would that make Facebook's advertising business all the more profitable, because advertisements could more easily be converted into sales, but it would open up a new revenue stream for FB if the firm collects a fee for processing. Baidu (BIDU)Source: StreetVJ / Shutterstock.com Remember what I said about having time to absorb the ups and downs? Well, Baidu (NASDAQ:BIDU) is one of those stocks that you may have to absorb some downs with. The Chinese tech company has been compared to Google because the firm's search engine dominance resembles Google's early days.There is a huge amount of growth potential ahead for Chinese tech firms, especially a search engine like BIDU. Just over half of China's population has access to the internet, so the market is relatively new when you compare it to that of the U.S. Since the trade war can't last forever if time is your ally you have to at least consider BIDU stock.Not only that, but Baidu has been working to expand its autonomous driving technology in the race to create self-driving cars. The firm has already made its driverless car technology available for automakers to use and test in a bid to become somewhat of an autonomous car "operating system." * The 8 Worst Stocks to Buy Before the Trade Turmoil Cools Off It's also likely that Chinese companies will get their cars on the road sooner because fewer people own cars in China. That makes for a higher adoption rate, as 75% of Chinese respondents indicated they would ride in a self-driving taxi, while only 52% of Americans would.What's more, China has a bigger auto industry and its government is hungry for large-scale projects. And while it seems counterintuitive considering China's complex system of roads, the real advantage is with navigation.The difficult conditions necessary to debut an autonomous vehicle in China means it will have a far easier time "porting" the system to the United States than the other way around. That means, for Baidu, international expansion will likely be much faster and less costly. Starbucks (SBUX)Source: monticello / Shutterstock.com Starbucks (NASDAQ:SBUX) is one of my favorite long-term buys because the company has proven itself to be an adaptable staple in markets all over the world. The company has weathered shifting consumer preferences toward independent, non-chain restaurants by incorporating local goods in their restaurants and revamping store appearances to reflect local cities.SBUX has also capitalized on the craft beer trend by creating its own Reserve Roastery where coffee lovers can sample different types of coffee and learn about the process. But all of that pales in comparison to SBUX's dominance in mobile.The Starbucks app is a textbook lesson in how to use mobile to enhance your business. Customers are able to upload money to the app and order and pay for their coffee in advance to avoid waiting in line; 30% of the firm's transactions take place on the app, a figure likely to grow even more as SBUX continues to invest in its mobile technology.Starbucks maintained an image millennials are comfortable with as the rest of the fast food industry struggled and the firm's focus on mobile has made it convenient to frequent. Netflix (NFLX)Source: Flickr via Mike K.Cutting the cable cord is gaining popularity in large part due to the growing popularity of streaming services like Netflix (NASDAQ:NFLX). The firm has already seen exponential growth over the past 10 years, causing some to wonder whether we're at the beginning of the end of NFLX stock's dominance.However, with a market cap under $1 billion, NFLX still has room to grow. If NFLX gains roughly 10% per year for the next 15, the firm would have a market cap of less than $150 billion, which isn't unreasonable when you consider Netflix still has a lot of room to run in foreign markets.Netflix is only just beginning to ramp up in countries around the world and the firm hasn't been able to turn out the kind of profit investors are looking for because it has to pay for content licensing and new content creation. * 7 Best Tech Stocks to Buy Right Now With that in mind, streaming is still a relatively new concept and as it becomes more common, NFLX will be establishing itself as a market leader around the globe. Waste Management (WM)Source: rblfmr / Shutterstock.com While admittedly not as shiny and new as stocks like NFLX, Waste Management (NYSE:WM) is a great stock to buy and hang on to because it operates in an industry almost certain to keep growing.Waste Management owns and operates landfills and collection trucks and negotiates contracts with local governments to collect and dispose of rubbish in the area. What's good about WM is the company's ownership of local refuse sites means the company doesn't suffer from a lot of customer turn-over.Not only that, we appear to be a long way off from changing the way we dispose of and recycle our garbage. Consumers are going to keep on consuming and producing waste companies like WM will deal with.Unlike tech firms, WM is unlikely to suffer from a major industry disruptor anytime soon, so it makes for a good stock to hold on to. Not to mention that WM offers a 1.74% dividend yield, so keeping it in the long-term is a great way to build wealth. General Motors (GM)Source: Linda Parton / Shutterstock.com U.S. automaker General Motors (NYSE:GM) is another good bet for a long-term investor because the company has a stake in all of the industry-changing trends on the horizon. GM bought up 9% of Lyft last year in an effort to get in on ride-sharing, a trend threatening to change the way people buy and use their cars.GM has also been a major player in the electric vehicle space, specifically designing mass-appeal cars like its Chevy Bolt. The car is eligible for a tax credit that brings its price down to the $30,000 level, making it accessible to a wider audience than most electric cars cater to.GM has also been working to develop driverless cars, and the firm's acquisition of Cruise Automation last year is proof it is a top priority. * 7 Tech Industry Dividend Stocks for Growth and Income GM has plans to create an autonomous electric car, a testament to management's belief that electric cars are the future of the auto industry. According to now-President Mark Reuss, creating a gas-powered autonomous vehicle is a wasted step. He believes that electric cars will soon dominate the roads, so autonomous driving software should be designed with that in mind.Reuss said that GM may be slower to develop autonomous driving software, but that's only because the firm is hoping to create technology that is designed for use in electric vehicles. International Business Machines (IBM)Source: JHVEPhoto / Shutterstock.com When you're in your 20s and looking for hot tech stocks to buy, International Business Machines Corp. (NYSE:IBM) doesn't exactly spring to mind, but the firm's tumultuous few years as a washed-up hardware firm have made IBM stock a bargain.IBM is doing some big things in the machine learning space and its Watson supercomputer has the potential to disrupt a wide variety of industries, from cybersecurity to health analytics. While IBM has yet to break out figures for Watson, its potential to slash healthcare costs and improve personalized medicine makes IBM a potential powerhouse.Watson may eventually be able to use massive databases of patient information to make connections between symptoms and diseases that medical professionals would have overlooked. This could revolutionize the way healthcare professionals diagnose, as well as save the healthcare industry loads of money by correctly identifying treatable conditions early on.But Watson isn't the only reason to scoop up IBM stock. The company has been successful so far in orchestrating its turnaround, and the company appears to be returning to growth as well as to have rounded a corner away from hardware and on to cloud computing and analytics.Those two segments make up more than half of IBM's revenue at this point, a good sign that the firm is on track to shift away from its legacy hardware business. The fact that its quickly growing strategic imperatives arm is becoming a much more substantial part of the firm's business is a good sign for future growth.Not only will shareholders reap the rewards of an IBM turnaround over the next decade, but the firm also pays out a 5.2% dividend yield, a sweet reward for riding out the turbulence. IBM generates an impressive amount of free cash flow and its 47% payout ratio means that dividend is stable and likely to increase in the years to come.At the time of this writing, Laura Hoy was long SBUX, FB and NFLX stock. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Monthly Dividend Stocks to Buy to Pay the Bills * 7 Heavily Discounted Stocks to Buy Today * My 7 Worst Stock Picks of 2018 The post 9 Stocks That Every 20-Year-Old Should Buy appeared first on InvestorPlace.
Wells Fargo (WFC) today announced $750,000 in donations to support communities affected by Hurricane Dorian in the U.S. and the Bahamas. The company also activated special disaster assistance for customers in Florida, Georgia, South Carolina, North Carolina, and Virginia — to support residents of those states as well as refugees impacted by the devastation in the Bahamas. “Our thoughts and prayers are with those affected by Hurricane Dorian,” said Interim CEO Allen Parker.
According to a Wells Fargo study at the halfway point of 2019, revenue and demand are up locally from last year — but expenses have grown at an even higher clip.
The Charlotte Business Journal sat down with Kendall Alley and Suzanne Morrison last week to discuss a range of topics, including Wells Fargo’s regulatory work, growth opportunities and trends they see in light of an increasingly anticipated economic recession.
FDIC-insured commercial banks and savings institutions' stellar Q2 earnings benefit from higher net operating revenues and loan growth, partly muted by higher provisions and expenses.
Though the latest steepening of the yield curve benefited bank ETFs on Sep 9, chances of volatility in the longer-term period may keep gains in bank ETFs at check.
Shares of Wells Fargo were down slightly to $48.23 Tuesday after UBS reduced its rating on the bank to neutral from buy and cut its earnings estimates. The scandal-plagued Wells Fargo entered into a consent order Office of the Comptroller of the Currency and Consumer Financial Protection Bureau for a series of issues. "We believe that WFC needs to move past the consent order before improving efficiency," Martinez wrote.
Wells Fargo & Company (WFC) announced today that startups Argo and The Climate Service have joined the Wells Fargo Startup Accelerator, bringing the total number of companies in the portfolio to 25. “Wells Fargo continues to invest and work closely with fintech companies to help integrate their big ideas into the banking services of tomorrow,” said Lisa Frazier, head of the Innovation Group at Wells Fargo.
JPMorgan Chase, the biggest US bank, is analysing how to cope with zero interest rates, chief executive Jamie Dimon told investors on Tuesday as he lowered the bank’s estimate for net interest income this year. Long term US interest rates have fallen sharply in recent weeks, as investors predicted the Federal Reserve would follow up July’s interest rate cut with several others. The Fed’s benchmark rate now stands at a range of 2.25 per cent to 2.5 per cent.