Wells Fargo Is the Worst Performing Stock in the S&P 500 Friday

Wells Fargo stock was falling as investors digested an update on the bank's net interest income outlook.

Shares were down 7%, on pace for the worst post-earnings decline since January 15, 2021 when shares fell 7.80%, according to Dow Jones Market Data. The stock was also the worst performer in the S&P 500 Friday as the index gained 0.3%.

https://www.barrons.com/livecoverage/bank-earnings-wells-fargo-jp-morgan-citigroup/card/wells-fargo-is-the-worst-performing-stock-in-the-s-p-500-friday-o8Z1yBdgIaY3uLnwgvyA

Comment! It's anonymous!

12 replies (most recent on top)

All of our efficiency issues stem from Hudson Yards. Eject those worthless hacks and we could save billions of dollars.

The stock is junk. Don't speculate on junk. Buy SP500 / Nasdaq. Gambling on WFC is a losing proposition.

Efficiency has nothing to do with NII. You need to take a few accounting classes. Efficiency affects Net Income. It doesn’t affect Net Interest Income. It’s the higher interest rates that is causing the NII to decrease for the bank since they pay higher rates to borrow money and have less luck booking mortgages or refinancing or loans since the rates are are so high for individuals. Ask many people are transferring money from checking or saving accounts that yielded low returns to higher interest accounts like CD which is causing the bank to payout higher amounts. This is not only WF problem, this is all Banks issue.

Ah, don't put all the blame on the CEO. The problem is the NII is not being generated efficiently enough. They haven't laid enough of us off. They need to get this efficiency process done via location strategy, RTO mandates and the rest.

Yes, if you waste 100% of your profits on buy backs you can bump the shares up a couple of dollars. Whooptie freaking do. Shart's motto should be "unsustainable bullsh-t, with terms!"

The CEO and his hand picked OC minions fail to perform well AGAIN and as usual, there's no accountability by the BOD. Is anyone surprised by this?

It will probably go up to $63 by next week. The results are actually better than they look. The have outperformed on Net Income which is the most important metric. Also exceeded on Revenue and EPS. Good opportunity to buy now and sell at $70.

They deserve it. All part of the plan.

If there is no inflation, if interest rates are going down, if we are in an environment where operating efficiencies matter very much we should expect that we'll be ranked very, very, very low

Charlie Scharf is incompetent at best. He has no strategy or leadership or qualities that inspire us. He and his cronies should be fired!

How is Scharf still the CEO??

Jamie must have given him good pointers on how to make sweetheart deals with the board.

Charlie Scharf is performing inconsistently meeting my expectations.

Time for you to lose your bonus, chuck.

https://www.cnbc.com/2024/07/12/wells-fargo-wfc-q2-2024-earnings.html

Thread regarding Wells Fargo & Co. layoffs

Wells Fargo Is the Worst Performing Stock in the S&P 500 Friday

12 replies (most recent on top)

Post a reply