On Thursday, Wells Fargo & Co (NYSE:WFC)’s shares declined -2.83% to $52.20.
A majority of investors have taken advantage of low interest rates, according to the third quarter Wells Fargo/Gallup Investor and Retirement Optimism Index survey. The survey of 1,006 U.S. investors was conducted August 7-16; the median age of the stepped down investors is 70 and the non-stepped down is 45.
Six in 10 investors (58%) are benefiting from lower rates either by taking out a car loan (30%), refinancing an existing mortgage or home finance loan (17%), taking out a mortgage for a new home (16%), obtaining a student loan for themselves or a family member (9%), or taking out another type of loan (10%) over the past two years. Half of investors say they are very or somewhat likely to take out a loan in the near future in anticipation that rates may go up.
Interestingly, forty-four percent of investors say they would make major adjustments to their investment strategy if interest rates rise. The most common action investors anticipate making is buying more stocks (30%), while just 8% say they would reduce their stock holdings. About a quarter (23%) say they would buy bonds or other fixed income investments, whereas 10% say they would sell these types of instruments.
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.
Delta Air Lines, Inc. (NYSE:DAL)’s shares gained 0.87% to $47.50.
Delta Air Lines (DAL) employees from across the country will build or renovate affordable, single family homes in partnership with Habitat for Humanity International. This year’s fall builds will take place in six cities, including Delta’s hubs in Atlanta, Detroit, Minneapolis/St. Paul, New York City and Seattle as well as in Los Angeles, a key international gateway for the airline. More than 2,400 Delta employees will participate in the projects, which began Sept. 8 and continue through Nov. 7.
Through local and national support, Delta employees have assisted build or rehab 214 Habitat homes in 12 countries around the world. Habitat is one of Delta’s core community partners as it acknowledges the need for safe, decent and affordable shelter around the globe. The domestic builds will mark homes 215-221 for Delta.
Delta Air Lines, Inc. provides planned air transportation for passengers and cargo worldwide. The company operates in two segments, Airline and Refinery. Its route network comprises various gateway airports in Amsterdam, Detroit, Los Angeles, Minneapolis-St. Paul, New York-LaGuardia, New York-JFK, Paris-Charles de Gaulle, Salt Lake City, Seattle, and Tokyo-Narita. The company sells its tickets through various distribution channels, counting mobile and telephone reservations, delta.com, traditional brick and mortar, and online travel agencies.
At the end of Thursday’s trade, Ascena Retail Group Inc (NASDAQ:ASNA)‘s shares surged 1.49% to $13.58.
ascena retail group, inc. (ASNA) stated financial results for its fiscal fourth quarter and full year ended July 25, 2015.
For the fourth quarter of Fiscal 2015, the Company stated a loss from ongoing operations of $1.98 per diluted share contrast to earnings from ongoing operations of $0.10 per diluted share in the same period of Fiscal 2014. The Fiscal 2015 loss primarily reflects a $306 million impairment of goodwill and an intangible asset at Lane Bryant and an about $50 million accrual for costs related to the Justice pricing lawsuits. Adjusted earnings from ongoing operations for the fourth quarter of Fiscal 2015 were $0.06 per diluted share, contrast to $0.13 per diluted share for the fourth quarter of Fiscal 2014. Reference should be made to Note 1 in the accompanying unaudited condensed merged financial information for a talk about of the “Use of Non-GAAP Financial Measures.”
For the full year Fiscal 2015, the Company stated a loss from ongoing operations of $1.46 per diluted share as a result of the charges talk about above contrast to earnings from ongoing operations of $0.84 per diluted share in the same period of Fiscal 2014. Adjusted earnings from ongoing operations for the full year Fiscal 2015 were $0.59 per diluted share, contrast to $1.00 per diluted share in the preceding year.
Ascena Retail Group, Inc., through its auxiliaries, operates as a specialty retailer of apparel for women, and tween girls and boys. It operates through five segments: Justice, Lane Bryant, maurices, dressbarn, and Catherines segments.
PG&E Corporation (NYSE:PCG), ended its Thursday’s trading session with 1.64% gain, and closed at $50.09.
Pacific Gas and Electric Company (PG&E) declared that it is making a corporate donation of $250,000 to the American Red Cross to assist ease the suffering from the destruction associated with the wildfires in Northern and Central California. Additionally, the company shared it will match up to another $100,000 in employee contributions for a total of up to $350,000.
The American Red Cross is actively working throughout California to assist the tens of thousands of people displaced by wildfires, providing essential services such as food, water and shelter. In PG&E’s service area, the Red Cross has opened shelters near the Valley Fire in Lake and Napa Counties, the Butte Fire in Amador and Calaveras Counties, and the Rough Fire in Fresno County. PG&E is also coordinating employee volunteers to assist staff these shelters.
PG&E Corporation, through its partner, Pacific Gas and Electric Company, transmits, delivers, and sells electricity and natural gas to residential, commercial, industrial, and agricultural customers primarily in northern and central California.
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