On Thursday, Shares of Wells Fargo & Company (NYSE:WFC), lost -0.53% to $58.21.
Wells Fargo & Company declared the formation of a new Innovation Group, which will work in partnership with its major businesses to meet evolving customer needs and stay ahead of the shifting competitive landscape. Steve Ellis, who had served as the head of Wholesale Services, has been named the leader of the new group. Ellis reports to Hope Hardison, who will assume the role of chief administrative officer (CAO) when Pat Callahan retires August 31. The CAO group now comprises Human Resources, Corporate Communications, Enterprise Marketing, Government and Community Relations, and the Innovation Group.
“Creating the Innovation Group puts an even larger focus on creating the products, services, and technologies that will allow us to stay competitive and allow our customers to do their banking when, where, and how they would like,” said John Stumpf, chairman and CEO of Wells Fargo.
The Innovation Group will be focused primarily on five core areas: research and development; innovation strategies; payment strategies; design and delivery; and analytics.
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 Celgene Corporation (NASDAQ:CELG), inclined 0.54% to $139.01, during its last trading session, hitting its highest level.
Celgene Corporation, stated net product sales of $2,254 million for the second quarter of 2015, a 22 percent enhance from the same period in 2014. The negative net impact of currency on net product sales was 2 percent. Second quarter total revenue raised 22 percent to $2,278 million contrast to $1,873 million in the second quarter of 2014. Adjusted net income for the second quarter of 2015 raised 36 percent to $1,019 million contrast to $748 million in the second quarter of 2014. Adjusted diluted earnings per share (EPS) in the second quarter of 2015 was $1.23 which comprises a $0.06 gain related to the sale of an equity investment upon completion of their acquisition by another company. For the same period in 2014, adjusted diluted EPS was $0.90.
Based on U.S. GAAP (Generally Accepted Accounting Principles), Celgene stated second quarter of 2015 net income of $356 million or $0.43 per diluted share. For the second quarter of 2014, net income was $598 million or $0.72 per diluted share.
Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes therapies to treat cancer and inflammatory diseases in the United States and Internationally.
Finally, Newell Rubbermaid Inc. (NYSE:NWL), ended its last trade with 0.10% gain, and closed at $41.99.
Newell Rubbermaid declared it has purchased a building and plans to relocate its corporate headquarters from 3 Glenlake Parkway in Atlanta, Georgia, to 6655 Peachtree Dunwoody Road in Atlanta, Georgia, in early 2016. The new space will reflect the brand–led, innovative company that Newell is and will be purpose-fit for how employees work recently and into the future.
The building will be designed by global architecture and design firm Perkins + Will. The property will be dedicated to Newell and is right-sized for the more mobile, more technically-enabled company that Newell is becoming.
Newell Rubbermaid Inc. manufactures and markets consumer and commercial products worldwide. It operates through five segments: Writing, Home Solutions, Tools, Commercial Products, and Baby & Parenting. The Writing segment offers writing instruments, such as markers and highlighters, pens, and pencils; art products; fine writing instruments; and labeling solutions under the Sharpie, Paper Mate, Expo, Parker, Waterman, and Dymo Office brand names.
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