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Wells Fargo Blasts Past JP Morgan To Become Biggest Bank By Market Cap (JPM, WFC)
Wells Fargo has overtaken JP Morgan to become the largest U.S. bank by stock-market value, Bloomberg notes.
Wells Fargo’s market cap increased to $157.6 billion at the close of today's trading.
JPMorgan's value is $156.4 billion.
For the year, Wells Fargo is up 11%, while JP Morgan has lost 4%.
The reason investors are excited about Wells Fargo? Its acquisition of Wachovia in the depths of the financial crisis is paying off.
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CF Industries: Time to Take Some Profits
Chris Damas submits: It has been a great one-week run for the stock of fertilizer producer CF Industries Holdings (CF). The company is trading at $155.91, up almost $6 after hitting a high of $156.34, and smashing the 2011 high of $... Read Post
Wall Street Roundup: No dividend for you. Don't mess with Goldman.
Gold: Trading now at $1,446 per ounce, up 0.6% from Wednesday. Dow Jones industrial average: Trading now at 12,156.82, up 0.6% from Wednesday. Back where we were. The markets have now made up the value they lost after the earthquake... Read Post
Number of the Day
$156 billion: The approximate estimated total of 2011 bonuses at seven of the biggest US banks—Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, US Bank, and Wells Fargo. The total is "slightly larger than l... Read Post