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The Zacks Stocks in the News Blog Highlights: Wells Fargo, Twitter, e.l.f. Beauty, Maersk
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For Immediate Release
Chicago, IL—September 23, 2016—Zacks.com looks back on the hottest stories of the week featured in the Stocks in the News blog, where analysts and writers discuss the latest news and events impacting stocks, the financial markets, and the greater investing world.
Here are highlights from this week’s Stocks in the News blog:
Tuesday wasn’t a great day for Wells Fargo (WFC - Free Report) CEO John Stumpf, the man whose company is at the center of a scandal involving fraudulent account-opening practices. The banking chief was called to a Congressional committee hearing to answer questions about the company’s fraud, and several key U.S. senators held nothing back while grilling Stumpf.
Stumpf’s most vocal critic was Elizabeth Warren, the senior senator from Massachusetts. The Democratic senator questioned Stumpf’s accountability, demanded his resignation, and suggested that he be criminally investigated.
On Wednesday, social media company Twitter announced that it has partnered with news and media company Bloomberg to live stream coverage of the upcoming presidential debates. The partnership is an expansion of its deal with Bloomberg Television, and it is also exclusive, meaning that no other networks will be live streaming the debates on Twitter.
On Thursday, low-priced cosmetics maker e.l.f. Beauty Inc. (ELF - Free Report) opened up sharply higher on its first day of trading at $24, soaring 41% after pricing its IPO yesterday above the expected range. The company raised $141 million on Wednesday by pricing 8.3 million shares at $17 per share, above its indicated range of $14 to $16 per share.
e.l.f. Beauty said it would use the proceeds from its IPO to pay off its approximately $204 million worth of debt, and for general corporate purposes.
On Thursday, Denmark’s biggest company A.P. Moeller-Maersk A/S (AMKBY - Free Report) , an oil and shipping giant, announced that it will be splitting into two separate companies, one a transport division and the other an energy business.
Maersk plans to focus on its transport and logistics business, and any oil or oil related businesses will become a new energy unit; the oil businesses within the new unit may either remain part of the Maersk group or will become joint ventures, mergers, or a listing.
Learn More About Zacks’ Investment Ideas
You are welcome to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buy" stocks free of charge. There is no better place to start your own stock search. Plus, you can access the full list of must-avoid Zacks Rank #5 "Strong Sells" and other private research. See the stocks free >>
Interested in personal finance? Zacks’ “Money Sense” e-mail newsletter is designed to bring you strategies and valuable information that can help you take control of your personal finances, as well as how to get the most out of your money. It covers a range of topics, from retirement planning to money management solutions. Subscribe to the free newsletter today.
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978. The later formation of the Zacks Rank, a proprietary stock picking system; continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros.
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Stocks in the News Blog Highlights: Wells Fargo, Twitter, e.l.f. Beauty, Maersk
For Immediate Release
Chicago, IL—September 23, 2016—Zacks.com looks back on the hottest stories of the week featured in the Stocks in the News blog, where analysts and writers discuss the latest news and events impacting stocks, the financial markets, and the greater investing world.
Here are highlights from this week’s Stocks in the News blog:
Wells Fargo CEO Grilled By Congress, Denies Fraud Management
Tuesday wasn’t a great day for Wells Fargo (WFC - Free Report) CEO John Stumpf, the man whose company is at the center of a scandal involving fraudulent account-opening practices. The banking chief was called to a Congressional committee hearing to answer questions about the company’s fraud, and several key U.S. senators held nothing back while grilling Stumpf.
Stumpf’s most vocal critic was Elizabeth Warren, the senior senator from Massachusetts. The Democratic senator questioned Stumpf’s accountability, demanded his resignation, and suggested that he be criminally investigated.
In Bloomberg Deal, Twitter Will Live Stream Presidential Debates
On Wednesday, social media company Twitter announced that it has partnered with news and media company Bloomberg to live stream coverage of the upcoming presidential debates. The partnership is an expansion of its deal with Bloomberg Television, and it is also exclusive, meaning that no other networks will be live streaming the debates on Twitter.
In Shimmering IPO, e.l.f. Beauty (ELF - Free Report) Soars 41%
On Thursday, low-priced cosmetics maker e.l.f. Beauty Inc. (ELF - Free Report) opened up sharply higher on its first day of trading at $24, soaring 41% after pricing its IPO yesterday above the expected range. The company raised $141 million on Wednesday by pricing 8.3 million shares at $17 per share, above its indicated range of $14 to $16 per share.
e.l.f. Beauty said it would use the proceeds from its IPO to pay off its approximately $204 million worth of debt, and for general corporate purposes.
Danish Oil Giant Maersk to Split in Two Separate Companies
On Thursday, Denmark’s biggest company A.P. Moeller-Maersk A/S (AMKBY - Free Report) , an oil and shipping giant, announced that it will be splitting into two separate companies, one a transport division and the other an energy business.
Maersk plans to focus on its transport and logistics business, and any oil or oil related businesses will become a new energy unit; the oil businesses within the new unit may either remain part of the Maersk group or will become joint ventures, mergers, or a listing.
Learn More About Zacks’ Investment Ideas
You are welcome to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buy" stocks free of charge. There is no better place to start your own stock search. Plus, you can access the full list of must-avoid Zacks Rank #5 "Strong Sells" and other private research. See the stocks free >>
Interested in personal finance? Zacks’ “Money Sense” e-mail newsletter is designed to bring you strategies and valuable information that can help you take control of your personal finances, as well as how to get the most out of your money. It covers a range of topics, from retirement planning to money management solutions. Subscribe to the free newsletter today.
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978. The later formation of the Zacks Rank, a proprietary stock picking system; continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.