Wells Fargo's legal costs could reach $1.7 billion, GoPro's extremely bad quarter, and more news
Wells Fargo said legal costs arising from its sales practices scandal could reach $1.7 billion. The bank paid a $185 million civil penalty but that was only the start of its problems; CEO John Stumpf was forced out and the bank is the subject of probes by the SEC, the Justice Department and a number of state attorneys general.
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Game 7 was epic (I hear), and has the ratings to prove it: The Chicago Cubs' extra-innings, rain-delayed, come-from-behind 8-7 victory over the Cleveland Indians was seen by some 40 million fans — that's the best for any baseball game in a quarter century. There are a gazillion other interesting stats but here's my favorite: The Cubs hadn't won the Series in 108 years — and there are 108 double stitches in a major league baseball. Also, someone hire this guy, who made the call in 1993:
Google formally rejected antitrust charges by the EU, which alleges the search giant favors its own services over those of rivals. The European Union began its investigation after Microsoft and "a host of European and U.S. rivals" complained, Reuters reports. It's a six-year-old case and the next development won't happen until 2017.
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The October jobs report, "the last big data point on a steady if unimpressive U.S. economy, four days before Americans flock to the polls," as Bloomberg puts it, is due out Friday morning. Bloomberg expects that 175,000 jobs were created last month.
GoPro reported "devastating" earnings ($241 million, 40% below expectations) and revenue (a 60 cents-a-share loss). Even worse, the company gave weak guidance for the holiday quarter where half of its annual revenues are supposed to be booked. Shares in the company best known for the Hero rugged camera were down 7% pre-report and were halted on the news a few minutes into extended-hours trading. After trading resumed, shared plunged another 20%.
Cover Art: GoPro CEO Nick Woodman poses with a GoPro Hero 3+ camera after ringing the opening bell when his company went public on Nasdaq, June 26, 2014. (Photo: Victor J. Blue/Bloomberg via Getty Images)
Experienced Fundraising and Philanthropy Professional with MBA
8 年I don't believe the Cubs ever trailed in that game. They did, however, come from behind in the series.
The really bothersome issue of customer trust in financial institutions is raised every time the name Wells Fargo arises nowadays. How many other banks operate in like manner without our knowledge?? Frightening .....!!
Consultor independiente y experto en manejo de data para la toma de decisiones
8 年How can be possible Wellsfargo makes this kind of things ...
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8 年How did you find Michael Lee yearbook John? LMK. Thanks Mike Keep up the great work while you are at it!
General Manager | MBA in Business Administration and Management
8 年Cheaper alternative from HTC, Sony, Polaroid & Xiaomi is eating up Hero's market share.