Wells Fargo Drops, Coinbase Rises, Palo Alto Falls on News of China Cybersecurity Ban
On this episode of Stock Movers:- Wells Fargo (WFC) shares slump after the firm missed analysts’ profit estimates as severance costs drove up expenses, with the bank spending $612 million on severance.- Coinbase (COIN) shares rise after news a new proposal tied to crypto market structure legislation would allow digital-asset companies to offer rewards to customers who hold stablecoins, with some exemptions.- Palo Alto (PANW) shares fall after Reuters reported that China has told domestic companies to stop using cybersecurity software made by about a dozen US and Israeli firms due to…
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