Stock Movers Wells Fargo Drops, Coinbase Rises, Palo Alto Falls on News of China Cybersecurity Ban
Jan 14, 2026
Christine Aquino, Managing Editor of Markets Live, dives into the recent stock fluctuations. She discusses Wells Fargo's shaky earnings, emphasizing the hefty $612 million spent on severance. The conversation shifts to Coinbase, celebrating a potential Senate proposal that could boost rewards for stablecoin holders, presenting a bright spot in the crypto space. Lastly, Christine highlights concerns for Palo Alto after reports of China halting the use of US and Israeli cybersecurity software, which signals a troubling trend in international business.
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Wells Fargo Earnings Miss And Cost Cuts
- Wells Fargo missed Q4 revenue and net interest income estimates, driven partly by $612 million in severance costs.
- CEO Charlie Scharf highlighted the Fed asset cap lift in June as a future competitive positive.
Senate Proposal Supports Stablecoin Rewards
- Coinbase stock rose after a Senate panel proposed a bill that would allow many digital-asset firms to offer rewards for stablecoin holdings with exemptions.
- The proposal preserves existing rewards programs that benefit platforms like Coinbase.
China Reportedly Bans Foreign Cybersecurity Tools
- Reuters reported China told domestic firms to stop using cybersecurity software from about a dozen U.S. and Israeli vendors, citing national security.
- Palo Alto and other cybersecurity stocks were weighed down by the directive amid unclear scope and recipients.