• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Doug Kass
    • Bruce Kamich
    • Jim Cramer
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • Trifecta Stocks
  1. Home
  2. / Investing
  3. / U.S. Equity

Closing Bell: LIVE MARKETS BLOG

Markets fell across the board Friday.
By TONY OWUSU
Apr 20, 2018 Updated Apr 20, 2018 | 04:12 PM EDT
Stocks quotes in this article: GE, STI, WFC

Closing Bell

Markets closed the week on a down note Friday, closing the day in the red across the board after starting the week on a three-day winning streak. 

The Dow Jones Industrial Average fell 0.82%, or 202 points to 24,463, while the Nasdaq dropped 1.27%, or 92 points to 7,146, and the S&P 500 declined 0.85%, or 23 points to 2,670. 


Apollo Is Planning to Take Diamond Resorts Public, Report Says

Apollo Global Management is planning to take Diamond Resorts public in the coming months, sources told the Wall Street Journal Friday. 

The timeshare resort company has reportedly filed confidentially with the Securities and Exchange Commission and could have its initial public offering as soon as June or July. 

Apollo could seek a valuation for the company of around $4 billion and aims to raise more than $500 million in capital during the offering. 

Apollo purchased Diamond Resorts for $2.2 billion in 2016. 


Wells Fargo Agrees to Pay $1 Billion Fine for Risk Management Fraud

Beleaguered bank Wells Fargo (WFC) agreed to pay a $1 billion fine to the Consumer Financial Protection Bureau and Office of the Comptroller of the Currency because it failed to prevent fraud and improper charges to consumers in its mortgage and auto-lending business. 

The OCC took these actions given the severity of the deficiencies and violations of law, the financial harm to consumers, and the bank's failure to correct the deficiencies and violations in a timely manner," the OCC said in a statement. 

The bank charged improper fees for rate-lock extensions in mortgage lending and selling unwanted insurance products to auto-loan customers. 

Wells Fargo shares were rising more than 2% Friday morning.


Former SunTrust Employee Attempted to Leak Info of 1.5 Million Clients

SunTrust (STI) says that a former employee may have attempted to download and share the information of 1.5 million clients with a criminal third party. 

The information included names and account balances, but not personally identifiable information like social security numbers, account numbers, pins, user IDs, passwords or driver's license numbers. 

The bank says that it discovered the attempted download was made six to eight weeks ago. CEO William Rogers said that no significant fraudulent activity has been identified. 

SunTrust shares were flat Friday. 


GE Jumps on Earnings Beat

General Electric (GE) was having one of its best days before the markets even opened Friday following its quarterly earnings release before the opening bell. 

The industrial company reported a net loss of 14 cents per share, wider than last year's loss by a penny. On an adjusted basis, the company reported earnings of 16 cents per share, topping analyst estimates by four cents. 

Revenue for the period rose 7% to $28.66 billion, surpassing analyst estimates of $27.6 billion. 

TheStreet has further coverage here. 


ZTE Protests Penalty Denying U.S. Business

Chinese smartphone handset maker ZTE is protesting a ban on U.S. technology that it says threatens its survival. 

The U.S. Department of Commerce issued penalties against the company for allegedly violating sanctions against Iran and North Korea by exporting telecoms equipment to the two countries. 

ZTE is the fourth largest smartphone make among U.S. customers. Last year alone the company doubled its market share to 11.2%, selling 19 million handsets, making the U.S. its largest market, the Wall Street Journal reported. 


Premarket

U.S. futures were mixed ahead of the opening bell, indicating a rocky open for markets to end the week. 

Dow futures were falling 0.05%, indicating an open 12 points lower, while Nasdaq futures also declined 0.05%, indicating an open 3 points lower. S&P futures were rising 0.06%, indicating an open 2 points higher. 

Asian markets had a worrisome session with the Shanghai Composite closing the day down 1.47%, the Hang Seng dropping 0.94% and the Nikkei falling 0.13%. 

European markets were mixed with the DAX falling 0.15% and the FTSE 100 and CAC 40 rising 0.43% and 0.42% respectively with about four hours left in trading. 

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.
TAGS: Investing | U.S. Equity

More from U.S. Equity

Jim Cramer: 3 Big Takeaways for Investors From Bank Earnings Calls

Jim Cramer
Jan 19, 2021 7:00 AM EST

The consumer continues to de-leverage at an extraordinary pace -- and the ramifications of this are extraordinary.

Wednesday's Woe, Biden's Plan, U.S. Dollar, J&J Vaccine, Trading Intel

Stephen Guilfoyle
Jan 14, 2021 7:22 AM EST

We are going to live again. You will dance in the aisle at some concert whose performer I have never heard of, and you will cheer for your favorite team in person again.

Federal Realty: Undervalued Dividend King With a High Yield

Bob Ciura
Jan 13, 2021 1:17 PM EST

There is a reason that there are just 30 Dividend Kings in the market.

Amid New Market Highs, Psychology and Valuation Warnings

Guy Ortmann
Jan 13, 2021 11:30 AM EST

Eager crowd buyers juxtaposed with actively selling insiders always raises a yellow flag.

Stock-Picking Becomes More Important in This Market Environment

Guy Ortmann
Jan 12, 2021 10:21 AM EST

All psychology data are now flashing caution signals.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 08:35 AM EST GARY BERMAN

    Thursday Morning Fibocall for 1/21/2021

    SPX (Long-Term View) The 1/20/21 NEW high @ 3859...
  • 11:38 AM EST CHRIS VERSACE

    Best Stocks to Buy for the Biden Presidency

    President-elect Biden's massive stimulus plan, int...
  • 08:07 AM EST GARY BERMAN

    Wednesday Morning Fibocall for 1/20/2021

    SPX (Long-Term View) The 1/8/21 high @ 3826.69 i...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2021 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login