Diamonds and Dogs

5/14/20

Rumors lifting Wells Fargo (WFC). The California based bank is up 6% on rumors Goldman Sachs may consider buying the bank to expand their exposure beyond the Northeast. Barron's made cautious comments on the possible merger while one analyst downgraded Wells Fargo citing concerns about a dividend cut.

Delta (DAL) has too many pilots. Delta is down one percent after falling as much as 9% to a new 52 week low after disclosing of their 14,000 pilots on staff, they will be overstaffed by 7,000 or more pilots by the Fall. Delta is also planning to retire their 777 jumbo jets made by Boeing to be replaced by more fuel-efficient Airbus SE aircraft.