On Wednesday, Shares of Wells Fargo & Company (NYSE:WFC), lost -0.60% to $57.54.
U.S. investor confidence was steady in the second quarter of 2015 at a seven-year high point, with the Wells Fargo/Gallup Investor and Retirement Optimism Index registering +70 in May, similar to +69 in February. And for the second straight quarter, confidence is about the same among stepped down (+67) and non-stepped down (+70) investors. The survey of 1,005 U.S. investors was conducted May 22 through May 31, 2015. The median age of the retiree is 68 and the non-retiree is 45.
Americans Still Confident in “The American Dream”
Confidence in the American Dream remains solid. Eighty-four percent of investors are as confident recently as they were a year ago that the American Dream is achievable for them. And the way they define that dream is consistent; nearly all investors – 96% – agree that living comfortably in retirement is a part of their American Dream, up from 92% last year. More than nine in 10 also say their American Dream means affording their own home (93%) and having meaningful employment (92%). Having the world be a better place to live is part of the American Dream for 81% of investors, while having a standard of living that surpasses that of their parents ranks last of the five concepts measured, at 77%.
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 Marathon Oil Corporation (NYSE:MRO), remained unchanged to $26.61, during its last trading session.
Marathon Oil Corporation, declared it plans to issue its second quarter 2015 earnings news release on Wednesday, Aug. 5, after the close of U.S. financial markets.
Prepared remarks together with accompanying slides will be accessible on the Company’s website about one hour after the earnings news release is issued. The Company will conduct a question-and-answer conference call, which will be webcast live, on Thursday, Aug. 6, at 9 a.m. EDT.
Chris Phillips and Zach Dailey, co-directors of Investor Relations, will host the call. Also participating from Marathon Oil will be Lee M. Tillman, president and CEO; John R. (J.R.) Sult, executive vice president and chief financial officer; T. M. (Mitch) Little, vice president, International and Offshore Exploration and Production Operations; and Lance W. Robertson, vice president, North America Production Operations. The call will comprise forward-looking information.
Marathon Oil Corporation operates as an energy company. It operates in three segments: North America Exploration and Production, International Exploration and Production, and Oil Sands Mining. The North America Exploration and Production segment explores for, produces, and markets crude oil and condensate, natural gas liquids, and natural gas in North America.
Finally, Molycorp, Inc. (NYSE:MCP), ended its last trade with -5.61% loss, and closed at $0.36.
Molycorp, declared that it has executed a restructuring support agreement with creditors that hold over 70% of the aggregate principal amount of the Company’s 10% senior secured notes. The agreement provides for a financial restructuring of the Company’s $1.7 billion in debt and provides up to $225 million in gross proceeds in new financing to support operations while the Company completes negotiations with creditors.
To facilitate its financial restructuring, Molycorp and its North American auxiliaries, together with certain of its non-operating auxiliaries outside of North America, recently filed voluntary petitions under Chapter 11 of the Bankruptcy Code in U.S. Bankruptcy Court for the District of Delaware. The Company’s operations outside of North America, with the exception of non-operating companies in Luxembourg and Barbados, are excluded from the filings. Molycorp Rare Metals (Oklahoma), LLC, with operations in Quapaw, Oklahoma, also is excluded from the filings as it is not 100% owned by the Company.
Molycorp, Inc. produces and sells rare earths and rare metal materials in the United States and internationally. The company’s Resources segment extracts rare earth minerals, including light rare earth concentrates; rare earth oxides (REO), such as lanthanum, cerium, and neodymium-praseodymium; heavy rare earth concentrates, which include samarium, europium, gadolinium, terbium, dysprosium, and others; and SorbX and PhosFIX, a line of rare earth-based water treatment products.
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