WRAPUP 1-Two big U.S. banks offer glum outlook for coronavirus recession [Reuters (UK)]
Wells Fargo & Company (WFC)
Last wells fargo & company earnings: 4/14 07:46 am
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Source: Reuters
Two big U.S. banks offer glum outlook for coronavirus recession - Reuters 5 Min Read NEW YORK (Reuters) - The main things investors wanted to learn from first-quarter results by JPMorgan Chase & Co ( JPM.N ) and Wells Fargo & Co ( WFC.N ) on Tuesday was just how bad the coronavirus recession is going to get and how long it will take to get back to normal. It looks decidedly unpretty. Both banks reported major profit declines, primarily due to reserves for future loan losses, and executives said the worst is yet to come. “In my mind, there’s more downside than there is upside at this point,” said Wells Fargo Chief Executive Officer Charles Scharf. Shares of Wells Fargo were down 4.3% in afternoon trading, while JPMorgan’s were down 3.4%, even as the broader market rallied on hopes that local, state or federal officials might start to open the U.S. economy more as conditions improve. The novel coronavirus has so far infected 1.9 million people around the world, including 582,114 in
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WFC
Earnings
- 10/15/25 - Beat
WFC
Sec Filings
- 12/1/25 - Form 424B2
- 12/1/25 - Form 424B2
- 12/1/25 - Form 424B2
- WFC's page on the SEC website