U.S. stocks moved lower on Thursday, following a 10% drop in China's exports in September, while analysts were expecting a 3.2% decline. Plus, Wells Fargo (WFC) CEO John Stumpf is retiring amid the company's fake bank account scandal. He is being replaced by COO Tim Sloan, a veteran of Wells Fargo. Deutsche Bank (DB) is initiating a hiring freeze, according to media reports, as questions surface about its financial health. The U.S. Justice Department is seeking a $14 billion settlement from toxic mortgage related securities the bank sold leading up to the financial crisis. Pfizer (PFE) shares were downgraded to HOLD from BUY by the analysts at Jefferies, who have a $36 price target. The stock currently trades near $33. Jefferies cited diminishing catalysts for the stock over the long-term. TheStreet's Scott Gamm reports from Wall Street.
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