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Stock Market & Financial Investment News

News Breaks
July 11, 2014
08:02 EDTWFCWells Fargo CEO says 'optimistic' about bank's future
“Our strong results in the second quarter reflected the benefit of our diversified business model and our long-term focus on meeting the financial needs of our customers,” said Chairman and CEO John Stumpf. “By continuing to serve customers we grew loans, increased deposits and deepened our relationships. Our results also reflected strong credit quality driven by an improved economy, especially the housing market, and our continued risk discipline. We are committed to both maintaining strong capital levels and returning more capital to our shareholders. In the second quarter we increased our common stock dividend 17 percent and repurchased 39.4 million shares. We remain dedicated to building long-term shareholder value, and I am optimistic about the future as we continue to focus on meeting the needs of our consumer, small business and commercial customers.” CFO John Shrewsberry said, “The primary drivers of Wells Fargo’s business remained strong in the second quarter, with broad-based loan growth, increased deposit balances, and improved credit quality. Revenue increased linked quarter as the Company grew both net interest income and noninterest income, a reflection of Wells Fargo’s diversified business model. These solid fundamental business results led to an increase in pre-tax income linked quarter. Net income was down as the Company’s effective tax rate was lower in the first quarter due to a $423 million discrete tax benefit.”
News For WFC From The Last 14 Days
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May 26, 2015
20:50 EDTWFCBernstein to hold a conference
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06:41 EDTWFCJPMorgan, other banks close branches on border to avoid laundering, WSJ says
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May 21, 2015
12:33 EDTWFCWells Fargo to add Financial Engines advice to platform, Reuters reports
Wells Fargo (WFC) plans to add Financial Engines' (FNGN) advice offering to the bank's retirement platform, according to Reuters, citing a Wells Fargo presentation. Shares of Financial Engines are up 7% following the report. Reference Link
12:30 EDTWFCWells Fargo to sign 401(k) pact with Financial Engines, Reuters reports
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May 20, 2015
08:21 EDTWFCATM data theft soars to highest rate in two decades, WSJ says
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May 18, 2015
09:46 EDTWFCMPLX enters common unit sales agreement for up to $500M
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May 15, 2015
16:32 EDTWFCBerkshire Hathaway gives quarterly update on stakes
NEW STAKES: None. INCREASED STAKES: IBM (IBM), Precision Castparts (PCP), Wells Fargo (WFC), Phillips 66 (PSX), and US Bancorp (USB). DECREASED STAKES: National Oilwell Varco (NOV), Viacom (VIAB), Bank of New York Mellon (BK), MasterCard (MA), and Visa (V). LIQUIDATED STAKES: None.
May 14, 2015
06:51 EDTWFCWells Fargo looking to streamline operations, Charlotte Observer says
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