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Saturday, November 28 2009  |  12:06 EDT  | 
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Market Currents

Wednesday, October 21, 2009
8:14 AM TweetThis
  • Wells Fargo (WFC): Q3 EPS of $0.56 beats by $0.19. Revenue of $22.47B (+116.5%) vs. $21.63B. Q3 chargeoffs of $5.1B, up from $4.4B in Q2. Sees credit losses peaking in 2010, "with consumer losses potentially peaking in first half of the year and gradually declining, absent further economic deterioration." Shares -1% premarket. (PR)

This news story has 3 comments:

  •  
    Not impressed. Nice try with "credit losses peaking in 2010", and "in the first half of the year" ?!?!

    Please...who are you trying to fool.
    Oct 21 08:20 AM | Link | Reply
  •  
    That doesn't even make any sense. The unemployment rate wont even peak until the middle of 2010. Foreclosure trail unemployment and the losses aren't counted until after the foreclosure is off the books. This spiral continues well into 2011- 12 and that's if things actually start to get better
    Oct 21 09:11 AM | Link | Reply
  •  
    but hey..the stock is up right..its all good
    Oct 21 10:10 AM | Link | Reply
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