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Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

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Speaker 2: The Stock Movers Report, your roundup of companies making moves

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Speaker 2: in the stock market, harnessing the power of Bloomberg Data.

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Speaker 3: Stocks are taking a leg lower today for a second

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Speaker 3: straight day, and we're kicking off the earning season with

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Speaker 3: a lot of companies to watch underneath the surface. We

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Speaker 3: are going to do that with Christina Aquino, Managing editor

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Speaker 3: of Markets Live. Christine, what's on your radar today.

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Speaker 1: Alex, Let's start with wellth Fargo to create WFC. Those

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Speaker 1: starts are down more than five percent. It is the

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Speaker 1: worst among the banks reporting today, and they just have

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Speaker 1: a trio of bad news today, basically a four order

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Speaker 1: net interest, income, missing estimates, revenue missing estimates, and then

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Speaker 1: of course the bank announcing that they spent more than

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Speaker 1: six hundred million dollars on severance costs, which was initially,

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Speaker 1: of course a plan, a part of their plan to

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Speaker 1: cut their costs, but you know, they have to spend

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Speaker 1: money to save money. Chief execut Officer Charlie Sharf, though

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Speaker 1: trying to draw silver lining and pointing to fact that

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Speaker 1: previously imposed asset cap by the Federal Reserve has been

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Speaker 1: lifted in June, and so now they're going to be

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Speaker 1: competing on a level playing field clearly, though the results

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Speaker 1: as of the fourth quart are not necessarily reflecting that

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Speaker 1: just yet, all right, and also on your radar crypto company, Yeah,

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Speaker 1: let's looking at coinbase scar this morning, so ticker COI

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Speaker 1: and those are doing better today, up one point nine percent,

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Speaker 1: and that is because a Senate panel released a bill

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Speaker 1: that would allow many digital asset companies, including Coinbase, to

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Speaker 1: let them continue being able to offer rewards to customers

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Speaker 1: who sold who hold stable coins. So at the moment,

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Speaker 1: you know, Coinbase is amongo companies that do offer customers

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Speaker 1: rewards for their crypto holdings, and so the proposal from

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Speaker 1: the Senate panel, it would prohibit crypto exchanges from offering

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Speaker 1: rewards type to stable coin holdings, but then some activities

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Speaker 1: would be exempt from that, including rewards programs, which I

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Speaker 1: believe Coinbase already has in place. So good news for them.

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Speaker 3: And Christine. One more that you're watching.

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Speaker 1: Let's take a look at pal Alto as well, Alex.

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Speaker 1: So some news out today and way on those shares,

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Speaker 1: so it took her PA and w those shares shorts

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Speaker 1: down a little bit like six ten one percent lower

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Speaker 1: this morning. That is because of rewards report that China

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Speaker 1: has sold domestic companies to stop using cybersecurity software made

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Speaker 1: by a dozen US and Israeli firms, including Paul Alto,

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Speaker 1: and they're citing national security concerns for this action. This

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Speaker 1: is according to people familiar withn't matter. It's unclear how

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Speaker 1: many Chinese companies have received the notice, but it was

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Speaker 1: issued in recent days and worsening pal Alto just getting

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Speaker 1: way down along with a bunch of other cybersecurity.

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Speaker 2: Companies today the Stock Mover's Report from Bloomberg Radio. Check

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Speaker 2: back with us throughout the day for the latest roundup

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Speaker 2: of companies making news on Wall Street and for the

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Speaker 2: latest market moving headlines. Listen to Bloomberg Radio Live, catch

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