Wells Fargo Reports 23% Surge in First-Quarter Profits
Wells Fargo reports a 23 percent jump in first-quarter profit as the bank set aside less money to cover bad loans and it held down costs.
Wells Fargo earnings
Stocks Inch Lower; S&P 500 Slips From 5-Year High
Stocks edged lower on Wall Street Friday, pulling the Standard & Poor's 500 index below a five-year high reached the day before. The S&P 500 fell two points to 1,470 as of noon Eastern. It closed at 1,472 Thursday, its highest level since December 2007. The Dow Jones industrial average fell a point to 13,469. The Nasdaq composite index dropped three points to 3,119.
Stock Futures Mixed After S&P Closes at 5-Year High
Stock futures are mixed in light volume with markets awaiting the next rush of earnings reports DJIA and S&P 500 futures are down a hair, while Nasdaq futures are up a point. Traders appear to be holding their positions a day after the Standard & Poor's 500 Index ended at a five-year peak.
What to Watch on Wall Street This Week: Gorilla Glass and Grocers
From new small gadgetry too old banking behemoths, there will be plenty of news waiting to break in the coming days. Let's go over some of the items that will help shape the week that lies ahead on Wall Street.
Wall Street Watch Friday: AMD Doesn't Chip In
The chip maker that was a thorn in Intel's side during the PC glory years announced preliminary quarterly results after Thursday's market close, and it wasn't pretty.
5 Things to Watch Next Week on Wall Street
There's never a dull moment on Wall Street. Next week brings a Xoom-related media event from Verizon and Motorola Mobility, as well as fourth quarter results from Apple and several of the country's biggest financial institutions.
Rising Expenses Cut Into Wells Fargo's Outlook
Wells Fargo's stock dropped by about 5% after it announced its earnings last month, due to lower than expected home mortgage originations. While rising interest rates could be one factor, non-interest expenses jumped from a year ago. Will those expenses lower the target price for the stock?
A Big Week Ahead for the Banking Sector
Fourth-quarter 2010 earnings season ramps up this week. Analysts expect strong results from some big corporate names. And on the heels of last week's big earnings beat from JPMorgan Chase, the financial sector will have plenty more results to peruse this week.
Wells Fargo Earnings Buck the Banking Trend
Wells Fargo reported net income rose 3% to a record $3.34 billion in the third quarter, thanks to its merger with Wachovia, the bank said. Also, improving credit conditions managed to offset a 7% fall in revenue.
Wells Fargo Earnings Beat Expectations
Wells Fargo reported that its second-quarter earnings fell to $3.06 billion, or 55 cents a share, from $3.17 billion, or 57 cents a share, in the year-ago quarter. This was well above analyst expectations for earnings of 48 cents per share.