Reuters Insider - U.S. Day Ahead: Wells Fargo CFO addresses conference

Capital group

10/12/2019 05:01

Click the following link to watch video: https://share.insider.thomsonreuters.com/link?entryId=0_wkcoek5t&referenceId=0_wkcoek5t&pageId=ReutersNews
Source: Reuters Insider

Description: Wells Fargo discusses its outlook at a Goldman Sachs financial
services event. Also, Saks Fifth Avenue owner Hudson's Bay reports.
Short Link: https://tmsnrt.rs/2RDbzQa

Video Transcript:

Hello, this is your day ahead. I’m Jade Barker. The Federal Reserve
begins a two-day meeting Tuesday, with the decision on interest rates out
Wednesday. Here’s what else we’re watching. First up, GameStop
reports after the closing bell. The video game retailer has struggled as
consumers purchase and play games online. Management expects business to
improve next year as Microsoft and Sony launch new gaming consoles. Shares
have plunged more than 20% this year. Next the retail sector, Saks Fifth
Avenue owner Hudson’s Bay reports before the market opens. The company is
in the middle of a buyout battle. A group led by the company’s Chairman
is trying to take over Hudson’s Bay as is Toronto-based Catalyst Capital
Group. Shareholders are scheduled on the Chairman’s offer next week. The
stock, which trades in Toronto, has climbed 21% in 2019. And we hear from
Wells Fargo. The bank’s Chief Financial Officer addresses the Goldman
Sachs Financial Services Conference. We will see what he has to say about
business now and for 2020. JPMorgan said last month it expected big banks,
like Wells Fargo, to hold up well near term versus the market overall. The
stock has climbed 15% this year. The CFO of Citigroup also speaks at the
event. And that’s your day ahead. You can watch more videos online and at
Reuters.com. I’m Jade Barker, and this is Reuters