Datasets:

---

Recag

/

Rp_CommonC_340

like 0

ERROR: type should be string, got "https://www.barrons.com/articles/wells-fargo-ceo-is-safe-chair-1537465143\nWells Fargo CEO is Safe: Chair\nSept. 20, 2018 1:39 pm ET\nChristopher Dilts/Bloomberg\nIn an unusual move, Wells Fargo’s chairwoman issued a statement knocking down rumors that CEO Tim Sloan is in trouble.\n“CEO Tim Sloan has the unanimous support of the board, and this support has never wavered,” Elizabeth Duke said in a statement to reporters, according to the Charlotte Observer. “In his two years as CEO, Tim has driven significant transformational change at Wells Fargo, which is benefiting all stakeholders.”\nThe statement follows a story in Wednesday’s New York Post that says board members have met with Gary Cohn—the former president of Goldman Sachs and White House economic advisor. Duke called the story false.\nA Wells Fargo veteran, Sloan has led the bank since 2016, shouldering the unenviable task of rehabilitating its scandal-battered reputation. Those scandals have ranged from the opening of millions of unauthorized accounts in the retail bank to product and platform pushing in the wealth management business.\nA continuing stream of negative headlines has continued to dog the company. And although Sloan has replaced management, tightened internal controls and overseen a marketing campaign aimed at restoring the company’s image, Wells’s stock has lagged and its earnings projections have fallen.\nShares are up 22% in Sloan’s CEO tenure, but the broad KBW Bank Index has risen 51% during that time, Bloomberg notes.\n--Steve Garmhausen"

ERROR: type should be string, got "https://www.barrons.com/articles/will-sky-high-pot-stocks-fall-1537459024\nWill Sky-High Pot Stocks Fall?\nSept. 20, 2018 11:57 am ET\nImages) Leon Neal/AFP/Getty Images\nShares of Canadian marijuana producer Tilray (TLRY) briefly soared by more than 90% Wednesday, and ended the day up 38%.\nThose outsize gains come amid a broader rally in pot stocks that may have advisory clients asking what’s going on.\nBarron’s Bill Alpert notes what’s been driving the recent mania for marijuana stocks in general, including Coca-Cola’s (KO) disclosure it is considering adding cannabidiol, a non-psychoactive ingredient of marijuana, to sports drinks.\nAlpert, who wrote a skeptical article on pot stocks back in March, writes there are still plenty of reasons for caution.\nNews last month that Canada’s pot leader Canopy Growth (CGC) had received an additional $4 billion investment from beer and liquor company Constellation Brands (STZ) boosted the sector. But Canopy CEO Bruce Linton says what’s good news for his company isn’t necessarily bullish for rivals. Canopy already has more than a third of outstanding purchase orders in Canada, which will allow recreational pot sales starting Oct. 17, and it has a big market share abroad.\n“That will not be good for all the other companies,” Linton says. “When I see the valuations being attributed to places that have virtually no production, virtually no off-take agreements, which don’t operate in multiple countries and have a very limited scientific research team...”\nMeanwhile, red-hot Tilray shares may be benefiting inordinately from their scarcity. The company’s U.S. IPO provided only 6.5 million shares, a small float that makes the stock hard to buy, borrow or sell short.\nElsewhere, Barron’s Max A. Cherney notes that even though the rally has caused short-sellers to get shellacked on paper, they’ve been adding to their bets the sector will fall.\nShort interest has increased 44% since the end of the second quarter, and most of the increase in short-selling was focused in Canopy and Tilray, according to data from financial technology and analytics firm S3 Partners."