Wells Fargo (WFC) stock falls as Q2 net interest income decreases due to higher rates
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Wells Fargo misses interest income estimates as deposit costs bite; shares slump
July 12, 2024 6:59 AM EDTBy Noor Zainab Hussain, Saeed Azhar and Manya Saini
(Reuters) -Wells Fargo's second-quarter profit declined and the lender missed analysts' estimates for interest income on higher deposit costs amid intense competition for customers' money, sending its shares down more than 6%.
Net interest income (NII) -- or the difference between what a bank earns on loans and pays out for deposits -- slid 9% to $11.92 billion. Analysts on average had expected $12.12 billion, according to LSEG data.
NII could fall 7% to 9% this year, it reiterated on Friday.
"At this point in the year, we expect... More
Wells Fargo (WFC) Tops Q2 EPS by 5c
July 12, 2024 6:52 AM EDTWells Fargo (NYSE: WFC) reported Q2 EPS of $1.33, $0.05 better than the analyst estimate of $1.28.
For earnings history and earnings-related data on Wells Fargo (WFC) click here.
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July 12, 2024 3:40 AM EDTInvesting.com-- Wall Street marked an unexpected reaction to softer-than-expected inflation data, with heavyweight technology stocks logging steep losses after the reading even as optimism over a September interest rate cut grew.Â
Losses in U.S. futures suggested that this trend was set to continue on Friday. But key producer price index data, and the onset of the second quarter earnings season, are set to offer more cues to markets.Â
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Wells Fargo (WFC) July 12 weekly 60 calls active into quarter results
July 11, 2024 11:10 AM EDTWells Fargo (NYSE: WFC) July 12 weekly call option implied volatility is at 71, July is at 34; compared to its 52-week range of 19 to 37; into the expected release of quarter results before the bell on July 12. Call put ratio 1.8 calls to 1 put with focus on July 12 weekly 60 calls.
... MoreWells Fargo (WFC) July 12 weekly 60 straddle priced into quarter results
July 11, 2024 6:07 AM EDTWells Fargo (NYSE: WFC) July 12 weekly 60 straddle priced for a move of 4% into the expected release of quarter results before the bell on July 12.
... MoreWells Fargo (WFC) long dated June 2025 calls spreaders active into quarter results
July 10, 2024 11:09 AM EDTWells Fargo (NYSE: WFC) July 12 weekly call option implied volatility is at 67, July is at 38; compared to its 52-week range of 19 to 37; into the expected release of quarter results before the bell on July 12. Call put ratio 3.3 calls to 1 put with focus on June 60 and 65 calls.
... More