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JPMorgan, Wells Fargo Earnings Top Forecasts

Wednesday, January 15, 2014 - 11:54 AM
Two of the nation's top banks reported fourth-quarter results that gave a broadly positive view of the economy even as higher interest rates cut into mortgage refinancing volume. A $1.1 billion drop in loan charge-offs and a 40% jump in profit from wealth management and brokerage made Wells CEO John Stumpf strike a positive note, and its earnings of $1 a share beat analysts' estimates by 2 cents."I'm excited about the opportunities ahead for our country, our customers and Wells Fargo,'' Stumpf said on a conference call. "I'm optimistic about the economy, more optimistic than I've been the last five or six Januaries.''

JPMorgan, Wells Fargo earnings top forecasts
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