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SAN FRANCISCO, CALIFORNIA – MARCH 20: The Wells Fargo logo appears on a sign outside a Wells Fargo Home… [+] In San Francisco, California, on March 20, 2007, a mortgage branch office opened. Wells Fargo & Co., based in San Francisco, revealed today that it is eliminating over 500 employees in its high-risk home mortgage businesses in South Carolina, Arizona, and California. (Photo courtesy of Getty Images/Justin Sullivan)
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Wells Fargo & Company is expected to disclose profits before the market opens on Wednesday. In 2018, the stock reached a high of $66.31/share and is now trading at $43/share. After results, the stock is prone to significant movements and can easily gap up if the numbers are strong. In the event that the numbers fall short of expectations, the stock may easily gap down. Here’s what the Street is anticipating to help you prepare:

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Earnings Estimates: On $17.75 billion in revenue, the company is predicted to earn $0.97 per share. In the meantime, the so-called Whisper number is up $1.11 per share. The Whisper figure is an unofficial estimate of earnings from Wall Street.

MarketSmith Incorporated provided the charts.
MarketSmith Incorporated provided the charts.
Taking A Closer Look At The Basics:
In comparison to Q1 2020, the bank’s earnings increased by a whopping 77 percent in Q1 2021. Revenue, on the other hand, fell by 9% over that time. In Q2 2021, Wall Street expects the business to report profits of $0.97 per share on revenue of $17.75 billion. If it happens, earnings will be significantly higher than in Q2 2022. (during the Covid-19 lockdown).
ADDITIONAL INFORMATION FOR YOU
A More In-Depth Look At The Technicals:
Technically, the stock has had a massive run over the last year and is now consolidating that recent and extremely strong advance. The stock has more than doubled since its March 2020 Covid-19 low and is taking a breather to process the rise. For those watching the chart, a move over $46.65 will be positive and signify a new buy signal.
Pay Attention To How The Stock Reacts To News: From where I sit during earnings season, the most essential trait I look for is how the market and a specific firm react to the news. Always remember to limit your losses and never dispute with the tape./nRead More

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