mortgage: WELLS PUTS BEST ASSET ON DISPLAY
- 02/03/09 12:35 AM
By Robert Trigaux, St. Petersburg Times Business Columnist Wells Fargo displayed on Wednesday that it really is the Big Kahuna of Florida banking at a time when many bank competitors are in a serious hurt. The California banking company reported quarterly earnings - a $2.55 billion loss, in fact - and the market still decided to reward Wells by pushing its stock to $21.19 a share, an astonishing 30.88 percent jump. The practical impact is Wells Fargo's market value rose by $16 billion in a single day to $70 billion. In contrast, Bank of America has a market value of $37 … (0 comments)
By Robert Trigaux, St. Petersburg Times Business Columnist;)
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