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- Irish Finance Minister Causes Draghi's Worst Nightmare
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- Forget the Incredible Shrinking Greek Politicians—It’s Draghi Time!
- Trading Day Has Lots of Moving Parts
- Overcoming Distrust Between the Germans and the Greeks
- Is Merkel Too Comfortable With Greek Default?
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WFC Moves Down As Dick Bove Downgrades
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CNBC Reporter
Stocks weakened midday, with three catalysts:
1) Rochdale analyst Dick Bove downgrades Wells Fargo [WFC
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] late in the day to a Sell but maintains the price target of $25. Bove talked earlier in the day that there was a serious erosion in the bank's loan quality in the third quarter. "It does not appear that the bank can sustain the third quarter's results. I would avoid the stock," Bove said. WFC down 4.5 percent.
2) crude rally over $80 is beginning to weigh on equities
3) Wal-Mart [WMT
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] announced hundreds of millions of dollars in price cuts for the holidays shortly after 2 PM ET; this is potentially going to kill prices (margins) in retail; retail stocks drop on the news. WMT down 2.3 percent.
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- Why Is Market So 'Tired' With Good News?
- What Exactly Have Greeks Agreed To?
- A Greek Deal, but What Is the Deal?
- No Greek Debt Deal? No Problem! (Maybe)
- Irish Finance Minister Causes Draghi's Worst Nightmare
- Caesars' Wild Open
- Forget the Incredible Shrinking Greek Politicians—It’s Draghi Time!
- Trading Day Has Lots of Moving Parts
- Overcoming Distrust Between the Germans and the Greeks
- Is Merkel Too Comfortable With Greek Default?
Data is a real-time snapshot *Data is delayed at least 15 minutes
