After rallying last week, WTI futures retraced back to their near-term lows again on Wednesday as sentiment around the commodity struggles to remain bullish.
Among the stocks commanding the spotlight today are Wells Fargo & Co (NYSE:WFC), Twitter Inc (NYSE:TWTR), CLARCOR Inc. (NYSE:CLC), Pfizer Inc. (NYSE:PFE), and Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR). Let’s take a closer look at the latest happenings concerning the five stocks and see how the smart money is positioned in each of them.
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Although the bank may have settled with the U.S. government regarding thousands of its employees creating two million fake customer accounts, among other shady activities, Wells Fargo & Co (NYSE:WFC)‘s problems may not be over just yet. According to the Wall Street Journal, the U.S. Attorney’s Offices for the Southern District of New York, along with another district, are investigating Wells Fargo’s sales practices and have issued subpoenas for various documents and other evidence to decide whether there should be a case brought against the bank. Given that the case is in the early stages, charges may not be brought against it. In a poll that we conducted last week, 62.6% of 139 respondents felt the $185 million settlement with the U.S government was not enough of a penalty. Warren Buffett‘s Berkshire Hathaway owned around 480 million shares of Wells Fargo & Co (NYSE:WFC) at the end of June.
Twitter Inc (NYSE:TWTR) is in the spotlight due to the social media company’s first scheduled live stream of an NFL game on Thursday night. Some analysts think the live stream might be Jack Dorsey and Co’s last chance to reignite user growth, engagement, and more importantly, monetization. If the initiative doesn’t succeed, activists and other shareholders might have a stronger hand in asking the Board to unlock value through M&A, a sale, or other means. 30 funds in our system were long Twitter Inc (NYSE:TWTR) at the end of June, up by three from the end of March.
On the next page, we’ll find out why CLARCOR, Pfizer, and Petroleo Brasileiro SA Petrobras are trending today.