Stocks in the news: BP, Wells Fargo, Nokia, Danaher
Some of the companies making headlines today:
Wells Fargo & Co. (WFC) said late Tuesday it plans to repay the U.S. bank bailout program "shortly" without raising equity so as not to dilute current shareholders, including Warren Buffett's Berkshire Hathaway Inc. (BRK.B).
BP (BP) reported it's made a "giant" discovery at the Tiber Prospect in the U.S. Gulf of Mexico that may contain more than 3 billion barrels. The Tiber well was drilled to a total depth of approximately 35,055 feet (10,685 meters), greater than the height of Mount Everest. The latest discovery will help Europe's second-largest oil company boost output in the region by 50 percent to 600,000 barrels of oil equivalent a day beyond 2020. Petrobras (PBR) and ConocoPhillips (COP) each hold 20 percent and 18 percent stakes in the project, respectively. Shares gained about 3.5 percent in pre-market trading. COP and PBR traded higher as well.