BNET Industries
Wells Fargo & Co. (WFC) is in the Financial Services Industry
- Revenue
- Dec 31 2007
- $53.5B
- Profit
- Dec 31 2007
- $8.0B
- Market Cap
- Jul 22 2008
- $100.4B
Latest News and Analysis
San Diego Sues Bank of America to Halt Foreclosures
By Marty Graham SAN DIEGO (Reuters) - San Diego's city attorney said on Wednesday he filed a lawsuit against Bank of America Corp BAC and its Countrywide unit to prevent the mortgage lenders from foreclosing on homes in the city, which he aims...
Wednesday Options Outlook: BJ, ORCL, XHB, DTV, SGMS, NRG, AET, WFC
Rebecca Engmann Darst co-authored this article. Costco BJ ? Costco?s profit warning earlier today showed the discount retailer left with the short end of the wishbone, having kept prices low on a bet that bargain-hungry shoppers would boost traffic at its store locations but finding that energy prices were...
Wachovia, Other U.S. Banks Post Dismal Results
By Jonathan Stempel NEW YORK (Reuters) - Wachovia Corp WB and Washington Mutual Inc WM led several large U.S. banks in posting weak second-quarter results on Tuesday, hurt by soaring losses from mortgages and other debt. Wachovia reported a $8.86 billion loss, while...
Financials Future Still Uncertain
Marc Lichtenfeld submits: What They’re Saying About The Financial Sector Sounds Nice… As I was running to catch my early morning flight on Saturday, I grabbed a copy of the New York Times and Barron’s. I looked at the Barron’s cover and figured that I must not have...
Financial-Dip Buyers Forget To Ask What's Next
Michael Shedlock submits: Bloomberg is reporting American Express Falls Most Since 9/11 on Net Decline. American Express Co., the biggest U.S. credit card company by purchases, fell the most in New York trading since the Sept. 11, 2001, terrorist attacks after earnings missed analysts' estimates and the lender withdrew...
Financials... Is It for Real?
Todd Sullivan submits: I think it depends on what you own... Just as I am skeptical when something falls 49% in a couple days barring extreme circumstances, I am equally un-enthused when the converse happens. by Todd Sullivan
As WaMu, Wachovia Ready Earnings, Comparisons to Wells, USB Are Telling
James Cullen submits: Back in mid-January, at the height of the first real sell-off we’ve seen in this bear market, I offered that there were only three big financial companies worth buying: American Express AXP, Wells Fargo WFC, and US Bancorp USB. I liked those two banks because they...
Is a Ban on Short Financial ETFs on the Horizon?
Jimmy Lathrop submits: I received an email from a reader asking me if it was likely that Congress would ban Pro Shares Ultra Short Financials and other Exchange Traded Funds which seek to short the financial industry. As of this writing, the ban on naked short sales of...
Five Strategies to Survive the Markets
Glenn Rogers submits: Are we having fun yet? These last few weeks have been about as difficult a period as I can remember for trying to make money in the stock market, whether your view is short or long term. Nothing much has been working. Even the energy stocks have...
HSBC's HK Shares Jump on China Investment Talk and Citi
By Parvathy Ullatil HONG KONG (Reuters UK) - Shares in HSBC Holdings jumped over 4 percent in Hong Kong on Monday after a UK newspaper reported that Europe's largest lender had discussed a potential investment by China's sovereign wealth fund. Shares in HSBC HSBA began...
Barron's Goes Bullish on Banks, Again
For the second time this year, Barron's cover story goes bullish on financials. S&P financials are down 43% over the last 12 months, even after major bull runs on Wednesday and Thursday. More than $1T in market value has disappeared, and the once mighty sector now boasts...
U.S. Markets: Is it Time to Throw Caution to the Wind?
Prieur du Plessis submits: “The end is neigh” was what many despondent investors were starting to believe as the past week kicked off with volatile trading amid concerns that U.S. regional bank IndyMac’s IMB demise was a harbinger of many more bank failures. Furthermore, Treasury Secretary Henry...
Bank Executive Compensation and the Bailout
Richard Shaw QVM Group submits: Executive compensation is a difficult issue. Although we grant that the challenge in designing a reasonable system that works in all seasons is daunting, in the net we come down on the side that the compensation is too often too great. We believe...
Citigroup Losses Better Than Expected
By Jonathan Stempel and Dan Wilchins NEW YORK (Reuters UK) - Citigroup C posted a smaller-than-expected quarterly loss, despite $11.7 billion (5.85 billion pounds) of write-downs and credit losses tied to deteriorating capital markets and a slumping economy. Though the second-quarter loss totalled $2.5 billion, the...
Citigroup $2.5 Billion Loss Soothes Investors
By Jonathan Stempel and Dan Wilchins NEW YORK (Reuters) - Citigroup Inc C posted a smaller-than-expected quarterly loss, despite $11.7 billion of write-downs and credit losses tied to deteriorating capital markets and a slumping economy. Though the second-quarter loss totaled $2.5 billion, the...
Wells Fargo Lays Bear Trap on Wall Street
Knockout Analyst submits: Today's Wall Street darling is a little old bank from the left coast, Wells Fargo WFC. The transcontinental horse-back messenger service bank, largely expected to begin an arduous write-off period, surprised analysts by beating their ever sage estimates guesses by $.03 (.53 v .50 est). The...
Why It's Time to Invest in Domestic Banks
John Gilluly submits: I was listening to a national talk radio show yesterday morning on the subject of "Is it still safe to keep your money in an American Bank"? (What a title, huh?) The interviewees were discussing how the stronger banks the ones that compose the UYG could soon...
Wells Fargo Leaves Much Uncertainty in Wake of Latest Earnings
Jimmy Lathrop submits: The initial press release for 2Q sounded great. It was only when you read the 10K filing that you saw that Wells Fargo WFC Financial the consumer credit arm for near prime and subprime suffered losses and they are getting out of the auto leasing game...
Time To Buy Banks? Proceed With Caution.
Terence Channon submits: On Wednesday, July 16, 2008 before the market opened, Wells Fargo (NYSE: WFC) announced financial results that helped propel some huge stock market gains over the next two days. Also fueling the rally was JP Morgan Chase (NYSE: JPM) beating expectations and seeing oil decline...
Wells Fargo Still a Buy Despite Wednesday’s Rally
Ockham Research submits: Better than expected second quarter earnings news from California-based Wells Fargo WFC and its unexpected ten percent dividend boost helped spark a hefty rally in the overall market—particularly beleaguered financials—on Wednesday. While the bank’s net income fell 21% in the quarter, this was better than forecast....
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- Incorporated: 1929
- CEO: Mr. John G. Stumpf
- Employees: 159,800
Wells Fargo is a financial holding company that provides retail, commercial and corporate banking services through banking stores in 23 states. Co. also provides other financial services through subsidiaries engaged in various businesses, mainly: wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, insurance agency and brokerage services, computer and data processing services, trust services, investment advisory services, mortgage-backed securities servicing and venture capital investment. As of Dec 31 2007, Co. had assets of $575.44 billion and deposits of $344.46 billion.
Key Competitors
Wells Fargo & Co. Company Info
Board of Directors
Mr. Richard M. Kovacevich
Chairman
Mr. Philip J. Quigley
Dr. Donald B. Rice
Ms. Judith M. Runstad
Mr. Stephen W. Sanger
Mr. John G. Stumpf
Ms. Susan G. Swenson
Mr. Michael W. Wright
Mr. John S. Chen
Mr. Lloyd H. Dean
Ms. Susan E. Engel
Mr. Enrique Hernandez Jr.
Mr. Robert L. Joss
Mr. Richard David McCormick
Ms. Cynthia H. Milligan
Mr. Nicholas G. Moore
Contact Information
420 Montgomery Street
San Francisco, CA
866 249-3302
NAICS Code
Commercial Banking: 522110Brought to you by IBMSponsored Resources
