Wells Fargo Spurs Relief Rally in Financials

Posted by Patrick O'Connor on 7/16/08 10:28 am

Wells Fargo’s better-than-expected second-quarter earnings announcement and 10% dividend increase gave financial stocks a reprieve today.  But most were already aware that Wells Fargo’s exposure to lower quality mortgage products has been well below average.  As a result, many are still expecting bank failures in the days and weeks ahead.

Read More on Wells Fargo.

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