Why Yahoo! Inc. (YHOO), Alphabet Inc (GOOG), Twitter Inc (TWTR), and Two Other Stocks Are in Spotlight This Weekend

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A few days after the state of California suspended some business relationships with the bank for a year, Reuters reports that Illinois and the city of Chicago could be next in terms of cutting some ties with Wells Fargo & Co (NYSE:WFC). According to the article, Illinois Treasurer Michael Frerichs will announce ‘plans to suspend billions of dollars in investment activity with Wells Fargo’ at a Monday news conference. Chicago’s alderman Edward Burke has also introduced an ordinance that could suspend Wells Fargo from acting in several roles for the city, including being a bond underwriter and a financial adviser. At the end of June, 88 funds from our database owned shares of Wells Fargo & Co (NYSE:WFC), down by two funds from the previous quarter.

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Deutsche Bank AG (USA) (NYSE:DB) rallied 14% on Friday on the back of the news from France’s AFP agency that the bank could reach a $5.4 billion US settlement over mortgage bonds. Although that’s still a lot of money, the number is considerably lower than the DoJ’s initial settlement request of $14 billion. Although some in the media have expressed skepticism regarding the $5.4 billion number, most do acknowledge that the eventual settlement number will be lower than $14 billion. Thomas G. Maheras’ Tegean Capital Management initiated a stake of 400,000 shares in Deutsche Bank AG (USA) (NYSE:DB) during the second quarter.

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