On Friday, Shares of Wells Fargo & Company (NYSE:WFC), lost -0.48% to $57.87.
Wells Fargo Bank, N.A. declared that it will withdraw from mortgage marketing services and desk rental agreements with real estate firms, builders and certain other referral sources. The decision was made because of increasing uncertainty surrounding regulatory oversight of these types of arrangements and as part of Wells Fargo’s ongoing efforts to simplify the process that customers experience as they weigh all of their choices when shopping for a mortgage.
The decision is effective Aug. 1 and the wind down will occur over the following 90 days. Termination of these marketing services agreements is not predictable to have a material impact on Wells Fargo’s total mortgage production.
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 The Walt Disney Company (NYSE:DIS), declined -0.02% to $120, during its last trading session, hitting its highest level.
Disney Interactive China showcased a host of international plus locally produced mobile game titles from Star Wars™, Marvel and Disney at the China Joy Expo 2015, the country’s largest and most noteworthy gaming event, held in Shanghai from July 30th to August 2nd. In addition to showing blockbuster titles Marvel Contest of Champions, Marvel Future Fight and Star Wars™: Commander, Disney signaled its intention to work with local studios to develop world class games for Chinese audiences.
Gaming is the largest segment and growth driver for China’s Media & Entertainment market. According to iResearch, the gaming market will grow from US$18 billion in 2014 to US$31 billion in 2018 with mobile gaming set to account for 43 percent of the gaming market by 2018. “This is the hottest, most competitive market in the world and by working with leading developers and local studios we intend to ensure Disney’s international portfolio of blockbuster games are hits in China too,” said Mr. Scarpone.
The Walt Disney Company, together with its auxiliaries, operates as an entertainment company worldwide. The company operates in five segments: Media Networks, Parks and Resorts, Studio Entertainment, Consumer Products, and Interactive.
Finally, International Business Machines Corporation (NYSE:IBM), ended its last trade with 0.64% gain, and closed at $161.99.
CVS Health (CVS) and IBM (IBM) declared they will use predictive analytics and Watson cognitive computing to transform care administration services for patients with chronic disease.
The partnership will enable health care practitioners, counting those across the CVS Health enterprise, to use Watson to advance care administration beyond programs and services typically accessible recently. Watson’s cognitive computing capabilities interact in natural language, read and understand vast amounts of information, and continuously learn. The offering would enable health care practitioners to quickly and easily gain insights from an unprecedented mix of health information sources such as medical health records, pharmacy and medical claims information, environmental factors, and fitness devices to assist individuals stay on track with their care and meet health aims.
The joint CVS Health/IBM Watson Health solution will be optimized for use across a wide range of chronic conditions. Chronic diseases such as hypertension, heart disease, diabetes, and obesity are the leading cause of death and disability in the U.S. and represent 86 percent of the nation’s $2.9 trillion in annual health spending. The resulting offering will be made accessible to insurers and other entities serving the employer and health plan market and will focus on:
- Assisting to predict individuals at risk for declining health who may benefit from proactive, customized engagement programs;
- Encouraging patients to adopt safe and healthy behaviors, counting adherence to prescribed medicines and healthy lifestyle regimens; and
- Suggesting appropriate use of cost-effective primary care and out-patient providers.
International Business Machines Corporation provides information technology (IT) products and services worldwide. The company’s Global Technology Services segment provides IT infrastructure and business process services, such as outsourcing, processing, integrated technology, cloud, and technology support. Its Global Business Services segment offers consulting and systems integration services for strategy and transformation, application innovation services, enterprise applications, and smarter analytics; and application administration, maintenance, and support services.
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