Jim Cramer Breaks Down Endeavor's Non-IPO, Market Psychology and Wells Fargo
It's finally Friday... Jim Cramer weighs in on Well Fargo's CEO, his Real Money column on market psychology, Endeavor's non-IPO and Micron's earnings.
The I-P-No Peloton wasn't the only company slated to go public this week.
Endeavor, Hollywood's biggest talent agency owner, pulled the plug on its IPO the night before it was slated to go public.
It was set to start trading on the New York Stock Exchange under symbol "EDR." Reports said Endeavor was having trouble rallying investor interest in the IPO.
The company originally planned to go public in May, but moved the timing to the fall.
Wells Fargo Has a New CEO Charles Scharf, who was poached by Wells Fargo from his position as CEO of BNY Mellon, will take the helm as CEO of Wells Fargo starting October 21.
"I am honored and energized by the opportunity to assume leadership of this great institution, which is important to our financial system and in the midst of fundamental change," Scharf said.
"I have deep respect for all the work that has taken place to transform Wells Fargo, and I look forward to working closely with the board, members of the management team, and team members." Micron Earnings Real Money stock of the day Micron reported earnings after the bell Sept.
The company reported fourth-quarter adjusted earnings of 56 cents a share, topping analyst forecasts of by 5 cents, while revenue of $4.87 billion fell from a year earlier, but beat estimates of $4.59 billion.
However, Micron said it expects fiscal first-quarter adjusted earnings of 39 cents to 53 cents a share on revenue of $4.8 billion to $5.2 billion.
Analysts had been expecting earnings of 53 cents a share on revenue of $4.8 billion.