Philadelphia Inquirer 1 month ago

PhillyDeals: Wells Fargo thrives, its stock dips. Why?

Wells Fargo & Co. , which became Philadelphia's largest bank when it bought Wachovia Corp. last year, reported higher-than-expected profit yesterday. So why did the stock fall 5 percent? Full Article at Philadelphia Inquirer

Related Topics:

  1. Wells Fargo
  2. Federal Reserve
  3. University of Pennsylvania

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  1. New York Post logo
    Bove: Wells Fargo not 'sustainable'
    1 month ago

    Outspoken bank analyst Dick Bove yesterday knocked the wind of out Wells Fargo's stock after he said he doesn't buy that the bank's record-breaking third-quarter profit is the result of improved performance. Bove blasted San Francisco-based Wells Fargo' Full Article at New York Post

  2. Dealbook logo
    Wells Fargo Drops After Bove Questions Profit
    1 month ago

    Shares of Wells Fargo fell 5.1 percent after Richard X. Bove, the outspoken banking analyst at Rochdale Securities, cut his rating on the stock to “sell” on Wednesday afternoon, saying the bank’s third-quarter profit of $3.2 billion was “unsustainable”... Full Article at Dealbook

  3. Philly.com logo
    When Uncle Sam's in business court, judges better 'duck': report
    1 month ago

    "Delaware judges should discreetly 'duck' any shareholder suits that claim the U.S. government has misused its new role as controlling stockholder of companies such as General Motors and Citigroup that it has bailed out of bankruptcy," warned... Full Article at Philly.com

  4. Wells Fargo 3Q profit rises to $3.2 billion
    1 month ago

    A pedestrian walks by a Wells Fargo bank branch October 3, 2008 in San Francisco, California. Full Article at WETM 18 - NY

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Related Quotes

  1. No firm should be too big to fail
    SOURCE: Philadelphia Inquirer 1 month ago
  2. Delaware court decisions are more like the Sermon on the Mount than the Ten Commandments
    SOURCE: Philadelphia Inquirer 1 month ago
  3. We're seeing an intensification of problems in their loan books which we didn't see at some of the other big lenders and regional banks [reporting earnings] ... Either they've been late to recognize the problems in their portfolio, or the markets they're in are getting worse.
    SOURCE: New York Post 1 month ago
  4. This is more money than the bank earned, overall, including the hedge profit, in the third quarter ... The remaining businesses of the bank were very mixed in the quarter. Most disturbing is that loan losses seem to be accelerating on the negative side.
    SOURCE: Dealbook 1 month ago
View all Related Quotes »
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Cast of Characters

  1. Wells Fargo Wells Fargo
  2. Federal Reserve Federal Reserve
  3. University of Pennsylvania
  4. Citigroup Citigroup
  5. General Motors General Motors
  6. Morgan Stanley Morgan Stanley