Chemical Stocks Soar, Wells Fargo Falls on Earnings, Royal Caribbean Slide
On this episode of Stock Movers:- LyondellBasell (LYB) and other US chemicals stocks are rising Wednesday as higher oil prices are giving gas-based producers an advantage and as analysts see upside for US chemicals and fertilizer firms.- Wells Fargo (WFC) missed analysts’ profit estimates as severance costs drove up expenses. Shares of the company fell by the most in six months. The bank spent $612 million on severance as part of a plan designed to cut costs. Expenses were $13.7 billion, compared with the $13.6 billion predicted by analysts in a Bloomberg survey, according to a…
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