Here’s a look at some of the companies the Yahoo Finance team will be watching for you today.
Wells Fargo (WFC) says new Fed sanctions could cut profits by as much as $400M this year. After Friday’s close, the Fed released a consent order that prevents Wells Fargo from writing any new loans and growing any bigger in response to its quote “widespread consumer abuses.” At least five Wall Street firms have downgraded the stock as a result.
Broadcom (AVGO) is sweetening its takeover bid for Qualcomm (QCOM). The semi conductor company says it’s making its best and final offer, $121 billion, that amounts to $80 – $82 per share, up from $70. Qualcomm has previously said no to Broadcom’s offers, saying it undervalued the company and that it wouldn’t pass muster with regulators.
Google (GOOGL) and Uber are finally headed to court. Google’s spin-off Waymo sued Uber back in 2016 alleging one of its former engineers transferred thousands of documents and conspired with former CEO Travis Kalanick to help Uber create its own self driving fleet before defecting to Uber. Waymo is demanding nearly $2B in damages and wants an order that would disable Uber from using any of the allegedly stolen information.
Best Buy (BBY) employees are getting some extra cash thanks to President Trump’s tax overhaul. The nation’s largest consumer electronics retailer says it will a pay one-time bonus of $1,000 to full-time workers. Part-time employees will receive $500.