July 15, 2012
Wells Fargo beat earnings estimates by a penny, coming in at $0.82 for the second quarter. That's a dozen cents above last year's Q2. Wells pretty much did what we expected. It's continuing to dominate the mortgage market with its mind-boggling one-third share of the market. It's doing exactly what a strong company is supposed to do in times of market turmoil -- vaccuum up market share at competitors' expense.
Senior banking analyst Anand Chokkavelu explains in the following video.
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