Wells Fargo & Company (NYSE:WFC) is down 1.48% to $25.97 after Wells Fargo & Co. Chief Executive John Stumpf declined Tuesday to describe the San Francisco bank's plan for when, and how, it intends to pay back its $25 billion in TARP funds. Bank of America Corp. said last week it would repay its $45 billion in taxpayer funding and investors have since then been curious to know if and when Wells Fargo plans to do the same. Wells Fargo reluctantly accepted its own funds last year from the U.S. Treasury's Troubled Asset Relief Program.
Kimco Realty Corporation (NYSE:KIM) plunges 4.89% to $12.44 after the companyannounced that it plans to sell 25,000,000 shares of newly issued common stock in an underwritten public offering pursuant to its effective shelf registration statement previously filed with the Securities and Exchange Commission. The sole book-running manager for this offering is Deutsche Bank Securities Inc. The company expects to use the net proceeds received from this offering to partially repay amounts borrowed under its $1.5 billion unsecured U.S. revolving credit facility.
Celgene Corporation (NASDAQ:CELG) declines 3.89% to $53.37 on 1.05 million shares after Celgene Corporation's Celgene International Sàrl announced that data evaluating combination therapy REVLIMID (lenalidomide) and dexamethasone in patients with high-risk smoldering multiple myeloma. The study demonstrated REVLIMID and dexamethasone prolonged time to progression, including complete responses, with manageable toxicity.
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