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:
Thursday 4/17 Insider Buying Report: SHLD, OPK
Thursday 4/17 Insider Buying Report: RT
Wednesday 4/16 Insider Buying Report: NEON
S&P 500 Movers: WU, SNDK
Nasdaq 100 Movers: GOOGL, SNDK
Dow Movers: UNH, GE
S&P 500 Analyst Moves: RHT
Dow Analyst Moves: CAT
S&P 500 Analyst Moves: QCOM
Thursday Sector Leaders: Communications Services, Agriculture & Farm Products
Thursday Sector Laggards: Music & Electronics Stores, General Contractors & Builders
Wednesday Sector Leaders: Biotechnology, Rubber & Plastics
Thursday's ETF with Unusual Volume: PXE
Thursday's ETF Movers: FCG, ITB
RSX, EET: Big ETF Outflows
Daily Dividend Report: MS, PPG, DFS, SLB, GS
Daily Dividend Report: SHW, SWK, O, GT, SM, SPN
Daily Dividend Report: CSX, NTRS, FRC, NGLS, BTE
Fed Tapers Bond Buying
Nonfarm payroll Employment Up 175,000 in February
Initial Claims Decrease, Productivity 1.8% Annual Rate Increase in Q4
Weekly Market Wrap: April 17, 2014
Weekly Market Wrap: April 11, 2014
Weekly Market Wrap: April 4, 2014
Week Ahead Market Report: April 14, 2014
Week Ahead Market Report: April 7, 2014
Week Ahead Market Report: March 31, 2014