This morning, Wells Fargo (NYSE:WFC) reported fourth quarter earnings of $5.37 billion, or $1.00 per share, as provisions for credit losses declined by $363 million. In the report, the company noted that the mortgage market has slowed significantly, causing a 49% decline in mortgage income during the quarter. In its pipeline, the company has $25 billion in mortgage applications, but that is a $10 billion decline from the end of the previous quarter. On the news, shares of Wells Fargo were lower by 0.9% so far.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.
Launch related slideshow:
Tuesday 3/11 Insider Buying Report: PKT
Monday 3/10 Insider Buying Report: GFED, AWK
Monday 3/10 Insider Buying Report: PBF, TUMI
S&P 500 Movers: URBN, DGX
Nasdaq 100 Movers: TRIP, GMCR
Dow Movers: DD, MCD
S&P 500 Analyst Moves: PWR
S&P 500 Analyst Moves: GWW
S&P 500 Analyst Moves: JNPR
Monday Sector Leaders: Auto Parts, Beverages & Wineries
Monday Sector Laggards: General Contractors & Builders, Non-Precious Metals & Non-Metallic Mining Stocks
Friday Sector Leaders: Defense, Auto Dealerships
XHB, EIS: Big ETF Outflows
XLF, RSXJ: Big ETF Inflows
Monday's ETF Movers: XLV, GXC
Daily Dividend Report: VZ, PBA, GNTX, MFA
Daily Dividend Report: HRC, TCO, AMT, CVS
Daily Dividend Report: NMFC, MITT, AE
Nonfarm payroll Employment Up 175,000 in February
Initial Claims Decrease, Productivity 1.8% Annual Rate Increase in Q4
ADP National Employment Report Released
Weekly Market Wrap: March 7, 2014
Weekly Market Wrap: February 28, 2014
Weekly Market Wrap: February 21, 2014
Week Ahead Market Report: March 10, 2014
Week Ahead Market Report: March 3, 2014
Dow Movers: JPM, WMT