Wells Fargo Clocks The Financial Sector
April 20, 2011 at 12:12 PM EDT
While the markets are surging higher today, financial stocks are weak on the back of earnings from Wells Fargo & Company (NYSE:WFC). The company reported net income that rose 51% but revenue fell. Revenue dropped to $20.3 billion from $21.5 billion. This was mostly due to lower mortgage fees. Wells Fargo is getting hammered today, [...]