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Stock Market & Financial Investment News

News Breaks
April 11, 2014
08:04 EDTWFCWells Fargo reports Q1 provision for credit losses $325M
Reports net charge-offs of $825M, down $594M from first quarter 2013. Reports $500M reserve release due to continued strong credit performance and improved economic conditions. Chairman and CEO John Stumpf said, "First quarter 2014 earnings were another record for our Company and capital levels continued to strengthen. Returning more capital to our shareholders has remained a priority for Wells Fargo and we were pleased to have received a non-objection to our 2014 CCAR submission." CFO Tim Sloan said, “We are very pleased with Wells Fargo’s performance in the first quarter, particularly in some of the fundamental drivers of long term growth: loans, deposits, investments, capital and credit quality. Revenue remained relatively stable despite the impact of fewer days in the quarter, reflecting contributions from our diversified sources of fee revenue. In addition, we generated revenue more efficiently as we reduced expenses year-over-year and compared with fourth quarter of last year.”
News For WFC From The Last 14 Days
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April 14, 2015
08:07 EDTWFCWells Fargo reports Q1 Common Equity Tier 1 ratio 10.86%
Wells Fargo reports Q1 Common Equity Tier 1 of $139.2B under Basel III, or 10.86% of risk-weighted assets. The Common Equity Tier 1 ratio under the Basel III framework was 10.53%. During Q1, the company purchased 48.4M shares of its common stock and entered into a $750M forward repurchase transaction for an additional 14M shares, which settled in early April.
08:03 EDTWFCWells Fargo reports Q1 EPS $1.04, consensus 98c
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April 13, 2015
16:21 EDTWFCOn The Fly: Top stock stories for Monday
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15:38 EDTWFCNotable companies reporting before tomorrow's open
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15:26 EDTWFCWells Fargo April 54.5 straddle priced for 2.2% movement into Q1
12:39 EDTWFCWells Fargo April volatility elevated into Q1 and outlook
Wells Fargo April call option implied volatility is at 27, May is at 17, June is at 15; compared to its 26-week average of 17 according to Track Data, suggesting large near term price movement in the expected release of Q1 results on April 14.
11:16 EDTWFCConocoPhillips looks to sell noncore U.S. acreage, Reuters says
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April 10, 2015
16:19 EDTWFCStocks finish week higher as investors speculate jobs data could delay rate hike
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16:14 EDTWFCOn The Fly: Closing Wrap
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13:31 EDTWFCWells Fargo April volatility elevated into Q1 and outlook
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12:46 EDTWFCOn The Fly: Midday Wrap
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06:38 EDTWFCBlackstone and Wells Fargo confirm acquisition of GE real estate assets
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06:35 EDTWFCGE releases financial details of GE Capital assets sale
Approximately $16B of after-tax charges are expected to be recorded in the first quarter of 2015 in connection with the plan – of which about $12B are non-cash. The charges include taxes on repatriated earnings, asset impairments due to shortened hold periods, and charges on businesses held for sale, including goodwill allocation. GE expects that the earnings impact of the GE Capital exits will be offset by the buyback over the exit period. GE has amended its income maintenance agreement to guarantee all tradable senior and subordinated debt securities and all commercial paper issued or guaranteed by GECC. The guarantee will replace the current income maintenance covenant. GE will maintain substantial liquidity and capital through the transition and does not expect to issue incremental GE Capital long-term debt for at least five years. Commercial paper will be further reduced to approximately $5 billion by the end of 2015.
06:34 EDTWFCGeneral Electric to sell most of GE Capital assets for approximately $26.5B
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06:34 EDTWFCBlackstone Mortgage to acquire $4.6B loan portfolio from GE Capital
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06:34 EDTWFCBlackstone Mortgage to acquire $4.6B loan portfolio from GE Capital
06:31 EDTWFCGeneral Electric to sell most of GE Capital assets for approximately $26.5B
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April 9, 2015
16:17 EDTWFCOn The Fly: Closing Wrap
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13:38 EDTWFCGE close to selling real estate holdings, WSJ reports
General Electric (GE) is close to selling its real estate holdings to Blackstone (BX) and Wells Fargo (WFC), Wall Street Journal reports, citing people familiar with the matter. The portfolio has $30B in holdings, the Journal adds. Shares of GE moved up 25c to $25.26 following the report. Reference Link
April 6, 2015
12:47 EDTWFCWells Fargo April volatility increases into Q1 and outlook
Wells Fargo April call option implied volatility is at 22, May is at 17, June is at 15; compared to its 26-week average of 17 according to Track Data, suggesting large near term price movement in the expected release of Q1 results on April 14.
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