Wells Fargo says mortgage modifications under government program jump 64 percent in AugustSeptember 9th, 2009 Wells Fargo mortgage modifications jump 64 percentDES MOINES, Iowa — Wells Fargo & Co. on Wednesday said it completed 33,172 trial and final modifications under the Home Affordable Modification Program through the end of August.
Wells Fargo says top executives will get more pay through company stock awardsAugust 6th, 2009 Wells Fargo increasing executives salariesNEW YORK — Wells Fargo & Co. said Thursday it is increasing the salaries for its top four executives, including CEO John Stumpf.
Wells Fargo keeps quarterly dividend unchanged at 5 centsJuly 28th, 2009 Wells Fargo keeps quarterly dividend at 5 centsSAN FRANCISCO — Wells Fargo & Co. said it will pay a quarterly dividend of 5 cents per common share — unchanged from the previous quarter's payout, but less than one-sixth of the dividend the bank had been paying earlier.
Par Pharmaceutical offering $150 million in mix of stock, warrantsJune 19th, 2009 Par announces mixed offering for $150 millionNEW YORK — Par Pharmaceutical Cos. said Friday it is selling up to $150 million in a mixed shelf offering and plans to use the proceeds for general corporate purposes.
16 of 19 stress-tested banks raise $75.2B in capital since early May, mostly by selling stockJune 8th, 2009 Stress-tested banks raise $75.2 billion in capitalSixteen of the 19 large banks that underwent government stress tests last month have raised more than $75 billion in capital, either because regulators required it or because the banks want to return federal bailout funds. Banks have also been issuing debt to prove to officials that they can finance operations on their own.
Wells Fargo prices shares at $22 a share, boosting overall offering to $8.6BMay 9th, 2009 Wells Fargo prices stock offering at $8.6 billionSAN FRANCISCO — Wells Fargo & Co. said Friday it is raising $8.6 billion through an offering of 392.15 million shares at $22 apiece, boosting the amount it previously said it would raise by $1.1 billion.
Wells Fargo prices shares at $22 a share, boosting overall offering to $7.5BMay 9th, 2009 Wells Fargo prices stock offering at $7.5 billionSAN FRANCISCO — Wells Fargo says it is raising $7.5 billion through an offering of 341 million shares at $22 apiece, boosting the amount it previously said it would raise by $1.5 billion. The announcement comes a day after the U.S.
Stock futures point higher on Labor Department report showing drop in job lossesMay 8th, 2009 Wall Street points to higher open after jobs dataNEW YORK — Stock futures pointed to a higher open Friday as Wall Street got the positive news it had been hoping for: job losses slowed in April. Investors hopeful for an economic recovery are cheering the Labor Department's report, which showed employers cut 539,000 jobs last month, the fewest in six months and much less than the 620,000 job losses analysts had been expecting.
Stock futures extend gains on better-than-expected jobs report, bank stress test resultsMay 8th, 2009 Wall Street points higher after jobs dataNEW YORK — Stock futures are extending their gains as the government says fewer jobs were lost in April than expected. Investors hopeful for an economic recovery are cheering the report, which showed employers cut 539,000 jobs last month.
Stock futures rise after bank stress test results, ahead of jobs reportMay 8th, 2009 Wall Street points higher ahead of jobs reportNEW YORK — Wall Street pointed to a higher open Friday as investors hoped for signs of moderation in job losses in April and showed relief at the results of the government's bank stress tests. The Labor Department's monthly employment report is a key gauge of the state of the economy, and investors were hoping the report to be released before the market opens would show fewer job losses last month than in March.
Morgan Stanley seeks to raise $5 billion in fresh capital after government stress testsMay 8th, 2009 Morgan Stanley plans $5 billion capital raiseNEW YORK — Morgan Stanley is planning to raise $5 billion after government's stress tests showed the investment bank needs more capital. Morgan Stanley said Thursday it has begun a $2 billion public offering of common stock.
Wells Fargo, Morgan Stanley announce plans to raise capital after 'stress test' resultsMay 8th, 2009 Banks scramble for capital after 'stress tests'NEW YORK — Wells Fargo and Morgan Stanley said Thursday they'll try to raise billions in fresh capital, becoming the first major banks to scramble for money after the government said 10 large financial institutions need $75 billion in new funds. Meanwhile, American Express Co.
Government stress tests show Wells Fargo needs more money to survive deeper recessionMay 4th, 2009 Wells Fargo asked to raise money after stress testWASHINGTON — Regulators have told Wells Fargo & Co. to shore up its finances after government "stress tests" showed the bank would have trouble surviving a deeper recession.
Wells Fargo CEO sees 'rays of hope,' but not ready to predict when bank will repay taxpayersApril 28th, 2009 Wells Fargo CEO sees 'rays of hope' in economySAN FRANCISCO — Wells Fargo's CEO thinks the recession may be nearing an end, but still isn't feeling optimistic enough to set a timetable for repaying the $25 billion that U.S. taxpayers invested in the bank last fall.
Wells Fargo 1st-quarter profit in line with forecast, revenue rises more than expectedApril 22nd, 2009 Wells Fargo 1Q results fall in line with forecastSAN FRANCISCO — Wells Fargo is reporting a record first-quarter profit in line with its forecast. The San Francisco-based bank, which bought Wachovia last fall at the height of the credit crisis, says it earned $2.38 billion, or 56 cents per share.
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