Wells Fargo Beats Earnings But Is It Another Judgment Day?!

I'll Be Back... With a Financial Report

Listen up people. Sarah Connor here. I've seen things you wouldn't believe. Corporate greed financial institutions crumbling the rise of machines... wait scratch that last one. But trust me when Wells Fargo releases its quarterly earnings I'm on high alert. It's all connected you see? One bad report one economic tremor and suddenly Skynet's building Terminators out of spare change. So let's get to it.

Hasta la Vista Baby... Stock Price

Wells Fargo’s first quarter is out and it’s a mixed bag. They beat earnings per share – $1.39 versus the $1.24 expected. Good job Wells Fargo you managed to avoid judgment day for now. But before you start celebrating their stock price took a 2% hit this morning. Hasta la vista baby… stock price. Seems like the market's not entirely convinced. Remember what Reese said? “It doesn't feel pity or remorse or fear. And it absolutely will not stop ever until you are dead!” That’s how the market is folks. Brutal.

No Fate But What We Make... or What Wells Fargo Makes?

Net interest income is down 6% folks. That’s a key indicator people. It means they're making less on loans. On the flip side non interest income – fancy word for fees and commissions – rose a bit. So they are still charging you to death with fees. But here's the thing: we can't just sit around waiting for the apocalypse. We need to understand what's happening how these institutions affect our lives. No fate but what we make right? Or in this case no fate but what Wells Fargo and the economy throws at us.

Come With Me If You Want To Live... Through This Economy

CEO Charlie Scharf is blaming Trump and his trade policies. "There are certainly risks associated with such significant actions," he bleats then adds with a straight face that a timely resolution would be good for business. Oh really? I thought maybe you were hoping for a little chaos to buy time to do something shady. Remember the future is not set. There is no fate but what we make for ourselves. We have to analyze these reports understand the underlying trends and prepare for anything.

I Need Your Clothes Your Boots and Your Shares!

Wells Fargo bought back a bunch of their own shares. They must believe in the company’s future or they're trying to artificially prop up the stock price. Either way it's their money their call and I don't need their clothes or their boots.. or their shares! But I am watching. Always watching. Just like how the San Francisco based lender has set aside $932 million as provision for credit losses which included a decrease in the allowance for credit losses I always have to prepare for the credit losses that the machines are going to incur.

The Future is Not Set But This Article is Done!

So there you have it. Wells Fargo's earnings in a nutshell. A mixed bag a bit of uncertainty and a healthy dose of corporate double speak. But remember the future is not set. We can still change things. We can still fight. So stay informed stay vigilant and stay frosty. And if you see a cyborg with a bad haircut asking for directions to the nearest bank run.