Here's what Wall Street expects:
Earnings: a loss of 20 cents a share, compared with earnings of $1.30 a share a year earlier, according to Refinitiv.Net interest margin: 2.33%, according to FactSetWells Fargo, the embattled banking giant, is expected to post a loss as it sets aside billions of dollars for soured loans tied to the coronavirus pandemic.
That would be the first time the San Francisco-based lender has posted a quarterly loss since the financial crisis. The bleak outlook for profits is one reason the bank wasWells Fargo was the only bank among the six biggest U.S. lenders to be forced to cut its dividend after the annual Federal Reserve stress test; all the others are maintaining their quarterly payouts.
The company is laboring under a dozen regulatory consent orders tied to its 2016 fake accounts scandal, including one from the Fed that caps its asset growth. These have stung the bank, and CEOIn part because of the Fed restriction, Wells Fargo hasThe bank is also hamstrung by its structure: Unlike
O início do fim....
Poorly managed
Mitch to the rescue...
Hard to make as much money when you aren't outright robbing clients with fake accounts.
Sickening, systemic, ongoing incompetence
They are paying dividend after posting losses? Wow! wellsfargo JPMorgan
Bullish....
It has started. JPMorgan is de-facto fed so you need not look into their numbers. nasdaq DowJones bankingcrisis Nifty markets
Let the banking crisis begin.
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Wells Fargo prepares to cut tens of thousands of jobs - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Wells Fargo should have been shuttered long ago.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Wells Fargo tells employees to delete TikTok from their company devicesWells Fargo has banned the social media app TikTok from company devices amid what it says are concerns about security. It’s the background connection with the app. I don’t have the app, but if you even use amazon on any device, expect them to try and trick you to verify the tik tok app. careful. hello from China Many companies ban social media from company devices. This is not isolated to tik tok Which you shouldn't have on your company device to begin with...nor Facebook not any social media stuff.
Source: CNN - 🏆 4. / 95 Read more »
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