U.S. stocks finished mostly higher yesterday, with the S&P 500 rising for eighth session in a row, as investors geared up for a new earnings season.
Warren Buffett has a message for Wells Fargo pick an outsider for the next CEO of the company. In an interview with the Financial Times, Buffett said whomever the bank chooses will draw immediate scrutiny from regulators and lawmakers. So, it’s “just not smart” to grab a leader from a competitor or from inside the bank. He wants them to pick someone with no affiliation with Wall St. Buffett’s Berkshire Hathaway owns over 8% of Wells.
The owners of Pinterest appear to be taking a cautious approach to their company’s Initial Public Offering following Lyft’s bumpy first week as a public company. Launching its investor roadshow today, the online image website priced shares at $15 to $17, significantly below its last funding round, which sold stock at $21.54 and gave Pinterest a valuation of $12B. The firm is set to begin trading on the NYSE next week under symbol “PINS” as part of a wave of high-profile but unprofitable tech startups that are now moving toward the public market.