After-Hours Buzz: WFC, YUM & More
Check out which companies are making headlines after the bell Monday:
Wells Fargo - Wells Fargo and nine other mortgage servicers entered into settlement agreements with the Office of the Comptroller of the Currency and the Federal Reserve. Wells Fargo said its portion of the cash settlement will be $766 million and it expects a pretax charge of $644 million in the fourth quarter. The company is scheduled to post earnings on Friday.
(Read More: S&P Retreats From 5-Year High Ahead of Earnings)
Yum Brands - The parent company of KFC and Pizza Hut said it expects to turn in full-year earnings of $3.24 a share, lower than estimates, due to weaker-than-expected sales in China. The company said it expects same-store sales in China to be minus 6 percent for the fourth quarter of 2012, versus a previous forecast of minus 4 percent. Shares declined in extended-hours trading.
ConAgra - The packaged foods company announced that it will sell nearly $240 million of its common stock through an underwritten public offering. Shares fell in extended-hours trading.
Dynegy - The electric utility company announced that COO Kevin Howell will step down.
Wet Seal - The women's clothing retailer named John Goodman as its CEO. Goodman initially joined the company as a board member in September.
Medifast - The nutrition and weight loss company named Timothy Robinson as its new CFO. Robinson will replace Joseph Kelleman, who has been interim CFO since December.
Colonial Properties - The real estate investment trust announced its CFO and president, Reynolds Thompson resigned. Bradley Sandidge will assume responsibilities as interim CFO.