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 national security concerns, citing people familiar with the matter.

On this episode of Stock Movers: - Wells Fargo (WFC) shares slump after the firm missed analysts&rsquo; 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 national security concerns, citing people familiar with the matter.

Listen for five-minute conversations on today's biggest winners and losers in the stock market. Subscribe for analysis on the companies making news on Wall Street.

Listen for five-minute conversations on today's biggest winners and losers in the stock market. Subscribe for analysis on the companies making news on Wall Street.

Listen for news on today's biggest winners and losers in the stock market.

Stock Movers

Wells Fargo Drops, Coinbase Rises, Palo Alto Falls on News of China Cybersecurity Ban

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/26e875db-8ff7-4325-89c3-b3d200fe9813/transcript