Results tagged “Wells Fargo” from Dealbreaker
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Wells Fargo Settles ARS Debacle
Nov 18, 2009, 10:28am
Posted by Jon Shazar
Wells Fargo has become the latest firm to offer a belated "my bad" on auction-rate securities. The bank's Wells Fargo Investments today agreed to repay clients who bought the unfortunate securities some $1.3 billion. It's also paying an additional "I'm...
Dick Bové Will "Do It Live" No Longer
Oct 22, 2009, 2:55pm
Posted by Bess Levin
You people have really done it now. Yesterday Dick Bové went on CNBC right after Wells Fargo had announced earnings, at which time he described the bank as a "standout" and one that had its loan losses "under control." Boves...
Evergreen Asset Management Pays $40 Million For Something It May Or May Not Have Done
Jun 08, 2009, 3:08pm
Posted by Greg Michaels
It seems Evergreen Asset Management, which Wells purchased through the Wachovia acquisition, was a couple years early to the inflated asset value/mark-to-market accounting rule change trade. Evidently during 2007 and 2008, the firm's Ultra Short Opportunities Fund overstated its value...
CNBC: Wells Fargo To Offer $6 Billion In Common Stock
May 07, 2009, 4:10pm
Posted by Bess Levin
Meaning we can cross John Stumpf off this list? Update: Morgan Stanley to offer $2 billion in common stock and sell $3 billion of debt not backed by the FDIC....
Wells Fargo Relegated To Bank of America, Citi Status
May 04, 2009, 11:42am
Posted by Bess Levin
Regulators are asking Wells Fargo & Co. to raise more capital after government "stress tests" showed the bank would have trouble surviving if the recession worsens. San Francisco-based Wells Fargo is trying to dissuade regulators from forcing it to raise...
How Much Is Killing Mark-to-Market Worth To You?
Apr 22, 2009, 11:45am
Posted by Equity Private
About $4.4 billion if you are Wells Fargo. The net unrealized loss on securities available for sale declined to $4.7 billion at March 31, 2009, from $9.9 billion at December 31, 2008. Approximately $850 million of the improvement was due...
Well, Well Wells.
Apr 22, 2009, 9:55am
Posted by Equity Private
Wells Fargo to the rescue. First quarter EPS of 56 cents, smacking around the consensus of 41 and otherwise looking highly suspicious. But perhaps we are being unkind. "The best way to generate capital is to earn it," said President...
Dry Wells?
Apr 13, 2009, 2:17pm
Posted by Equity Private
Remember how Wells Fargo jumped 30% or so on pre-earnings guidance? Yeah, it made us cross eyed too. Well, about as expected, a number of commentators have pointed out that a good slug of their "profit" seems to be composed...
Fill Your Wells
Apr 09, 2009, 3:15pm
Posted by Equity Private
Is anyone else alarmed that Wells Fargo is up nearly 30% on "pre-earnings guidance?" The trouble, of course, with pre-earnings anything is that the devil is in the details. In keeping with our "it's all a farce" theme today, we...
"Wells Fargo Is Annoying The Hell Out Of Me"
Mar 06, 2009, 11:42am
Posted by Equity Private
Want to know what I think about WFC? Ok, fine: 2008: WFC lies about business, raises dividends, people buy. 2009: WFC lies about business, cuts dividend, people buy. If we can just keep eliminating the stupid buyers, the market becomes...
And.. There Were AWARDS!
Feb 03, 2009, 4:10pm
Posted by Equity Private
Please, someone point out to me the source of the lead in the drinking water of senior banking executives. I ask because there really isn't another way to explain a few things. Well, that is to say, unless these people...
Wells Fargo: No More Dodging The Bullet?
Jan 16, 2009, 12:21pm
Posted by Equity Private
Not that most financial stocks haven't suffered, but Wells Fargo seemed to be keeping its own. Fueled by the presumption of better underwriting standards during the credit crisis, a strong dividend tradition and its association with Warren Buffett, the firm...
I'll See Your New York Supreme Court Judge, And Raise You A Federal District Court Judge
Oct 05, 2008, 9:17pm
Posted by Equity Private
No, we're not kidding. Wells Fargo apparently found a sympathetic ear in U.S. District Judge John Koeltl, a former Watergate prosecutor and Clinton appointee. Backatcha, Citi! U.S. District Judge John Koeltl late Sunday blocked an order by New York State...
Citi Buring Both Ends Of The Candle?
Oct 05, 2008, 5:59pm
Posted by Equity Private
A dedicated reader forwards us the hint, buried down in the middle of a Reuter's article, citing a Wall Street Journal Article to the effect that Citi has already offered to beat the Wells Fargo offer for Wachovia. To wit:...
Quiet, Wells Fargo Has The Conch Shell Now!
Oct 05, 2008, 3:18pm
Posted by Equity Private
Wells Fargo & Co. said nothing in a court order obtained by New York-based Citigroup Inc. derails the California bank's plans to acquire Wachovia Corp. Well, except that whole restraining order thing. Wells Fargo Says Takeover Agreement With Wachovia Still...
You Are Not The Boss Of Me, Judge Ramos!
Oct 05, 2008, 1:57pm
Posted by Equity Private
In a press release written so quickly it is missing several spaces, Wachovia sets the record straight and plays the "taxpayer" trump card: CHARLOTTE, N.C., Oct. 5 /PRNewswire-FirstCall/ -- Wachovia does notbelieve Justice Ramos' order has any effect on the...
Citi Is Mad As Hell And They Are Not Going To Take It Anymore
Oct 03, 2008, 4:22pm
Posted by Equity Private
Sure, there is that whole exclusivity thing, and Wells Fargo's lawyers are "looking over the various papers," but, damnit, Citi, why not just outbid them too? Call it, a hedge. Call it, a two pronged attack. Call it, the second...
Warren Buffett Owns You
Sep 26, 2008, 11:37am
Posted by Equity Private
Not content to deal with its "underperform" rating, Wells Fargo prodded its way into an Y-class full coach fare "neutral," rating, hopefully on the way to an upgrade that will land it right smack in the middle of Business Class....
