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0.000994530084534977 0.00176031824962695 -0.000165755014089261 0.00049726504226743 0.00049726504226743 0.00049726504226743 0.00049726504226743 0.00049726504226743
Stock impact report

JPMorgan Q1 earnings miss estimates, WellsFargo profit sinks 89% in Q1 [Yahoo! Finance News]

Wells Fargo & Company (WFC) 
Last wells fargo & company earnings: 4/14 07:46 am Check Earnings Report
US:NYSE Investor Relations: wellsfargo.com/about/investor-relations
JPMorgan Q1 earnings miss estimates, WellsFargo profit sinks 89% in Q1 VideoApril 14, 2020’s Brian Cheung breaks down how banks are faring over the coronavirus pandemic.Video TranscriptADAM SHAPIRO:BRIAN CHEUNG:But really, the number and the metric that analysts were dialed into were the provision for credit losses. This is the amount of money that these banks set aside anticipating enormous loan losses amid the COVID-19 issues. So you had Wells Fargo that actually boosted their provision expense to $4 billion. JP Morgan Chase boosting their provision for credit losses to $8.3 billion.Those were remarkably higher than they were compared to last year. But one thing worth noting is that non-performing assets appeared to be worse at JP Morgan Chase, again, the largest bank in the United States. Their non-performing assets were up 42%, whereas Wells Fargo was only up by 13%.With regards to the United States, in particular, they actually project that the US economy will contract by 5.9% in Show less Read more
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