With Wall Street banks about to report on how much money they've been making, estimates are moving in the wrong direction.» Read More
On a short holiday week, Financials dominated the scene, led by positive earnings news from Wells Fargo on Friday. The markets rallied Thursday, with the Dow closing above 8,000 for the first time since last Friday, with all the major indexes gaining 3% or greater.
Stocks rose sharply Thursday after an upbeat forecast from Wells Fargo, capping their fifth straight up week.
After a couple of bearish days, the bulls regained their footing in the shortened trading week. There was plenty of action off the trading floor as well, with a major decision by the Federal Accounting Standards Board, a heartening merger in the housing industry, and some impressive earnings projections from Wells Fargo.
If you were listening carefully to Warren Buffett on CNBC one month ago today, you heard him say, "This is a great time to be in banking." It may not have made sense to you then, but it should today.
Stocks end near the highs for the day. It was all about Wells Fargo and The Real Estate Play.
Wall Street's stress over Washington's bank tests might all be for naught.
Wells Fargo's acquisition of Wachovia late last year helped the bank generate a surprisingly healthy $3 billion in earnings for the first quarter, Wells Fargo CFO Howard Atkins told CNBC.
Wells Fargo's big upside earnings surprise has got everyone dissecting what is exactly is going on here; most agree it is a real estate recovery story, at least for the moment.
Wells Fargo Bank shocked Wall Street today with an earnings report that was double what the street mavens expected. Stocks shot up 200 points. What’s the first message? Banks are turning profitable. They’re in better shape than people think.
Stocks rose sharply Thursday as investors cheered a surprise earnings forecast from Wells Fargo.
Steve Forbes thinks the Wells Fargo profit statement is a strong sign of better things to come. The president and CEO of Forbes, Inc. offered CNBC his insights into financials, the economy — and how to make Tim Geithner cry.
Stocks shot out of the gate Thursday as investors cheered a surprise earnings forecast from Wells Fargo.
Art Cashin, UBS Financial Services director of floor operations, offered CNBC his take on what traders are expecting Thursday.
Careful here: the market is showing signs of ignoring bad news (CEOs are consistently talking down expectations) and jumping all over any glimmer of good news.
US stock index futures rose ahead of the open Thursday as Wells Fargo surprised investors by pre-announcing its forecast-beating earnings results.
The Dow closed in negative territory Monday, ending a four day winning streak.
Stocks fell Monday amid doubts over the health of the banking industry and the apparent collapse of a major deal in the technology sector.
Following a 4-week rally the markets traded lower as of midday Monday, weighed by on-going concerns over the health of the financial sector. Despite four weeks of steep gains, financials, industrials, and utilities companies remain deep in the red year-to-date, recording losses over 10%. Which are the worst/best performing companies?
Many of the recent fixes in the financial sector are merely "window dressing" and problems still persist in the banking sector, says veteran baking analyst Michael Mayo.
Banks might be back to their old tricks. There’s speculation some are colluding to swap assets at inflated prices using taxpayers' dollars!