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.
For the first time, Apple has disclosed the identity of 156 suppliers, and said it will become the first tech company to join the Fair Labor Association (FLA). This means that the FLA will investigate Apple suppliers and issue regul...
Iron ore shipments on the Great Lakes totaled 7,046,156 tons in July, an increase of 12.2 percent over June, and an increase of 18 percent compared to a year ago.
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...
Earnings this morning from Goldman Sachs were very disappointing. The stock traded as low as $156 but has since recovered to $158. Goldman is raising its dividend from 50 cents to 55 cents.