In today’s edition of Rob Black’s Winners and Losers, our financial expert Rob Black and KRON4’s James Fletcher discuss the stock market, Wells Fargo, and Disney. 

Rob also answers the viewer question, “Is the Robinhood app worth using?”

Winner:  Stocks post solid gains, and oil prices surge . ..  Technology companies and banks helped power U.S. stocks to solid gains Wednesday, improving on the market’s flat finish the day before.   Energy stocks led the gainers as the price of crude oil climbed back above $70 a barrel the day after the U.S. moved to withdraw from a nuclear accord with Iran. Industrial and materials companies rose, outweighing losses in safer-play sectors such as utilities and phone companies.
 
Loser:  Wells Fargo owes $97 million to California employees who didn’t get breaks . . . Wells Fargo must pay $97 million to home mortgage consultants and private mortgage bankers in California who didn’t get the breaks they were entitled to under the state’s stringent labor laws.  The lawsuit alleging various California wage and hour labor violations was brought last year by a Wells Fargo mortgage broker in Los Angeles.

Winner:  Disney sees studio revenue soar 21% after ‘Black Panther’ crushed expectations . . . .e Walt Disney Company on Tuesday said that the success of Marvel’s “Black Panther” helped drive 21 percent year-over-year revenue growth for its studio entertainment business.   Disney’s studios saw $2.45 billion in revenue for the quarter. In the current quarter, Marvel’s “Avengers: Infinity War” had the biggest opening weekend of all time, both domestically and globally. The latest installment of the Avengers franchise crossed $1 billion at the global box office in just 11 days. That pace is faster than any other movie in history.

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