On Tuesday, Shares of Wells Fargo & Co (NYSE:WFC), gained 1.01% to $53.09.
Wells Fargo & Company and Credit Suisse, declared an exclusive recruiting arrangement to provide relationship managers and their clients in Credit Suisse’s U.S. Domestic Private Banking business an opportunity to transition to Wells Fargo’s brokerage business, Wells Fargo Advisors, by early 2016. In addition, the two companies expect to plannedally expand their relationship to make additional Credit Suisse Investment Banking and Asset Administration offerings available to the Wells Fargo distribution network.
“The wealth administration business is a major area of growth and focus for Wells Fargo, and over the last decade, we’ve grown in size and stature. Recently, Wells Fargo operates the third-largest brokerage and is the fourth-largest wealth administration provider in the U.S.,” said David Carroll, head of Wells Fargo Wealth and Investment Administration. “Our growth is fueled by our unwavering commitment to do what’s best for our clients, which we believe will be attractive to these talented relationship managers. We look forward to welcoming U.S. Private Banking relationship managers from Credit Suisse and are committed to strengthening their relationships with their clients.”
Wells Fargo & Company provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. Its Community Banking segment offers checking, savings, market rate, individual retirement, and health savings accounts, in addition to time deposits and remittances; and lines of credit, auto floor plan lines, equity lines and loans, equipment and transportation loans, education and residential mortgage loans, and debit and credit cards.
Shares of Boston Scientific Corporation (NYSE:BSX), inclined 0.64% to $17.19, during its last trading session.
Boston Scientific Corporation, declared that it has closed on an additional round of financing with MValve Technologies Ltd., a developer of a percutaneous mitral valve replacement system, designed to work with the Boston Scientific LOTUS™ Valve, creating a unique mitral regurgitation (MR) treatment solution. Boston Scientific has offered the company with funding since 2012 and has an exclusive option to acquire MValve.
MValve Technologies plans to utilize the new financing, in part, to fund a first-in-human clinical trial for the MValve docking system for transcatheter mitral valve replacement (TMVR) in patients with mitral regurgitation. The approach, in which the Boston Scientific Lotus Valve is deployed inside the MValve docking system, is designed to enable the treatment of mitral regurgitation in a broad range of patients, and to improve long-term clinical outcomes in this patient population. Both the dock and valve can be repositioned and recaptured, enabling precise valve placement and physician confidence preceding to releasing.
Mitral regurgitation is the most common type of heart valve disorder and occurs when the mitral valve does not close properly, causing an abnormal reversal of blood to flow from the left ventricle into the left atrium.
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. The company operates in three segments: Cardiovascular, Rhythm Administration, and MedSurg.
Finally, Shares of PulteGroup, Inc. (NYSE:PHM), ended its last trade with 1.57% gain, and closed at $19.42.
PulteGroup, has booked the year to date performance of -8.43% while its market capitalization stands at $6.85B. The institutional ownership of the company was 87.50% while its debt to equity ratio was 0.38. Return on equity was 10.90% while return on assets was booked as 6.10%. Shares of the company were below SMA 20 with -0.30% and below SMA 50 with -3.60%.
PulteGroup, Inc., through its auxiliaries, engages in the homebuilding business; mortgage banking operations; and title operations in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of housing on land.
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