Well, well, well. It sounds like some banks know what they are doing, and some don’t.
Sphere: Related ContentWells Fargo & Co said it expects to post a record $3 billion first-quarter profit, causing its shares to soar 31.7 percent and providing a welcome jolt to the stock market and a still-troubled banking sector.
The preliminary results suggest that lenders focused on traditional banking activities may handle the recession better than analysts and investors expect, at a time the government is performing “stress tests” on 19 major banks.
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