Wells is Profitable...Very Profitable...Earns $ 3 billion in 1Q09

After months of some folks claiming the US banking system is insolvent Wells comes out with this excellent earnings pre-announcement. They earned $ .55/share. A record for them. Consensus was .26/share.

Influential analyst Meredith Whitney had them rated a sell and believed Wells would earn .06/share.

Roubini has been saying US banks are insolvent.

I don't think so.

Adam

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Wells is Profitable...Very Profitable...Earns $ 3 billion in 1Q09

Reviewed by Pisstol Aer
Published : 2009-04-09T05:57:00-07:00
Rating : 4.5