Your Daily Dose of Financial News

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The Deal Professor weighs in on Yahoo’s announcement last week of the hack of roughly 500 million of its customers’ data and the specter of the MAC (material adverse change) that Verizon may choose to invoke to dance away from its $4.8 billion deal for Yahoo’s core business – NYTimes

Wells Fargo is facing a $2.6 billion putative class action in state court in Los Angeles over CA worker claims that they were “fired or demoted for refusing to participate in the company’s recently revealed unauthorized account scam” – Law360

NY state’s financial regulator has reportedly requested data from Caliber Home Loans on its handling of distressed mortgages and mortgage origination to nonprime borrowers – NYTimes

Yeti—the cooler and beverage container company—is in line for an October IPO and has its sights set on a $5 billion valuation, an amount that would make small PE firm Cortec Group very, very happy – WSJ

We’re set to learn more today from Fed Governor Daniel Tarullo on the “evolution” of the central bank’s stress-testing process. Tarullo is expected to announce more carve-outs for banks with fewer than $250 billion in assets – Law360

Twitter—struggling for some time now to successfully monetize its popularity—has been in talks with a series of potential suitors (Salesforce.com and Google, among them) for a potential takeover of the company – NYTimes and WSJ and Bloomberg

Snapchat’s recent pivot [spectacles and all] into slickly edited live stories certainly hasn’t been helping Twitter’s cause – NYTimes

Insurance giant Allianz SE has been thinking a bit out of bounds (especially as compared to Zurich, for example) in its quest for yield in the era of negative rates – WSJ

So long to the King – Bloomberg and NYTimes

MDR

 

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