Skip to main content
Publish date:

Silicon Valley sit-down, Johnson & Johnson walks and Wells Fargo stopped

Tech Titans Meet Trump, Takeover Talks End and Bank Expansion Barred

Silicon Valley sit-down, Johnson & Johnson walks and Wells Fargo stopped. This is what you need to know before the bell.

Senior figures in Silicon Valley will sit down with Donald Trump Wednesday with Apple's Tim Cook and Amazon's Jeff Bezos among the digital titans set to meeting with the President-elect in New York. However, Facebook's Mark Zuckerberg won't be joining them - he's sending Sheryl Sandberg instead - after having previously expressed misgivings about Trump's pledge to deport millions of immigrants.

Shares in Actelion have plummeted almost 9% in Zurich after it confirmed that Johnson and Johnson has dropped a reported $27 billion takeover bid. However Actelion said it's talking to someone else about a possible strategic transition ... that someone could be Sanofi - although if the French drug company wants the Swiss biotech, it won't come cheap and could cost as much as $30 billion.

TheStreet Recommends

Wells Fargo is back in the headlines again Today after it revealed that federal regulators have barred the bank from expanding internationally and making certain acquisitions after it failed its so-called "living will" retest. While Wells Fargo was not the only organisation told to correct deficiencies, it is the only one that is yet to correct them.

Edward Hardy reporting for TheStreet in London