A Closer Look at Five Trending Stocks: Wells Fargo, LendingClub, Microsemi, and More

Wells Fargo & Co (NYSE:WFC) is trending after the Wall Street Journal reported that the SEC is conducting a review on whether the bank may have violated rules concerning investor disclosures in relation to Wells Fargo’s previous shady sales tactic scandal. Given that several senators on the Hill are incensed at the bank, it isn’t surprising that regulators would want to take a deeper look at Wells Fargo. Despite the news, shares of Wells Fargo are in the green today because the SEC probe is said to be at an ‘early stage’ and that many investors believe the bank is a good long term holding as the public eventually forgets about the scandal. Warren Buffett’s Berkshire Hathaway owned around 480 million shares of Wells Fargo & Co (NYSE:WFC) at the end of June.

LendingClub Corp (NYSE:LC) has popped 5% after after Morgan Stanley analyst James Faucette upgraded the stock to ‘Overweight’ from ‘Equal Weight’ and set a $7 price target. Based on his surveys and market research, Faucette thinks that Lending Club’s outlook has stabilized and that its stock is inexpensive. The analyst believes that Lending Club offers attractive risk/reward in relation to its long-term potential. The number of funds from our database with holdings in LendingClub Corp (NYSE:LC) inched up by one quarter-over-quarter to 24 at the end of June.

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