BAC & WFC Articles

[Parsad]

Here are some recent articles on Bank of America and Wells Fargo:

 

BAC

 

http://blogs.wsj.com/deals/2011/12/06/bank-of-america-wont-predict-outcome-of-stress-tests/?mod=yahoo_hs

 

http://www.thestreet.com/_yahoo/story/11333843/1/bank-of-america-seen-urging-investors-to-reject-6-offer.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA

 

http://www.bloomberg.com/news/2011-12-06/bofa-investment-banking-results-improved-from-third-quarter-moynihan-says.html?cmpid=yhoo

 

http://www.bizjournals.com/triad/news/2011/12/06/bofas-brian-moynihan-reduction-in.html?page=all

 

 

WFC

 

http://finance.yahoo.com/news/Wells-Fargo-well-positioned-rb-3851520105.html?x=0

 

Cheers!

[treasurehunt]

Both Stumpf and Moynihan presented today at the Goldman Sachs American Financial Services Conference.

 

Stumpf: http://cc.talkpoint.com/gold006/120611a_lr/?entity=2_D2Q0VLC

 

Moynihan: http://cc.talkpoint.com/gold006/120611a_lr/?entity=34_NI1UFU2

 

You will need to register before you can listen to the presentations.

 

I didn't find anything notable in the WFC presentation, but the BAC one had some interesting information.

 

1) Investment banking is doing better this quarter than the last, but it's still far from normal.

2) Consumer spending held up well in November (up 5-6% from last year).

3) Delinquency and charge-off trends have continued in the fourth quarter.

4) Regulators appear to be serious about giving banks enough time to reach Basel III capital requirements, which gives BAC more options.

5) Moynihan seemed to back off from the 45-50 billion pre-tax pre-provision earnings that he had mentioned earlier as being reasonable in a more normal environment. He said something about expecting 1% ROA on a 2.2 trillion balance sheet.