Wells Fargo & Company

Wells Fargo & Company is scheduled to report third-quarter 2026 earnings results on Oct. 13, before market open. The Zacks Consensus Estimate for third-quarter revenues of $22.15 billion suggests 3.3% year-over-year growth, while the consensus estimate for earnings has been revised marginally upward over the past seven days to $1.85 per share, indicating a 6.9% improvement from the prior-year quarter. The Zacks Consensus Estimate for net interest income is pegged at $12.63 billion, a 5.7% rise from the year-ago quarter, and total non-interest income is estimated at $9.58 billion, up 1.1%. Within non-interest income, mortgage banking revenues are expected at $241.39 million, down 9.9%, while investment advisory and other asset-based fee revenues are pegged at $2.95 billion, up 10.7%, investment banking fee revenues at $903.79 million, up 7.6%, and card fee revenues at $1.28 billion, up 4.8%. Wells Fargo currently carries a Zacks Rank #3 and an Earnings ESP of -0.15%, and its shares lost 6.3% in the third quarter of 2026 compared with the industry's decline of 6.7%.

Charles Schwab is expected to report quarterly earnings of $1.66 per share when it releases results for the quarter ended September 2026 on October 15, a year-over-year increase of 26.7%, on revenues of $7.19 billion, up 17.3% from the year-ago quarter. The consensus EPS estimate has been revised 0% lower over the last 30 days, and the Most Accurate Estimate sits below the Zacks Consensus Estimate, producing an Earnings ESP of -0.08% alongside a Zacks Rank of #3. That combination makes it difficult to conclusively predict an earnings beat, though the company beat consensus EPS estimates in each of the last four quarters, including a surprise of +5.88% in the last reported quarter when it posted $1.62 against an expected $1.53. Separately, Wells Fargo, another stock in the Zacks Financial - Investment Bank industry, is expected to post earnings of $1.85 per share for the quarter ended September 2026, a year-over-year change of +6.9%, on revenues of $22.15 billion, up 3.3%; its consensus EPS estimate has been revised 1% up over the last 30 days, but it carries an Earnings ESP of -0.15% and a Zacks Rank of #3, and it surpassed consensus EPS estimates three times over the last four quarters.

Wells Fargo is expected to report quarterly earnings of $1.85 per share for the quarter ended September 2026, a year-over-year increase of 6.9%, on revenues of $22.13 billion, up 3.2% from the year-ago quarter, when it reports results on October 13. The consensus EPS estimate has been revised 0.76% higher over the last 30 days. The Most Accurate Estimate sits below the Zacks Consensus Estimate, producing an Earnings ESP of -0.70%, while the stock carries a Zacks Rank of #3, a combination that makes an earnings beat difficult to predict conclusively. In the last reported quarter, Wells Fargo posted earnings of $1.96 per share against an expected $1.73, a surprise of +13.29%, and has beaten consensus EPS estimates three times over the last four quarters.

Advanced Micro Devices CEO Lisa Su said demand continues to outpace supply and that the company plans to substantially increase supply in 2027, sending AMD shares higher in early trading Tuesday. Roughly 80% of Anthropic's planned $518 billion in cloud and compute spending over the next decade is non-cancelable or payable regardless of how much capacity it actually uses. Elon Musk confirmed over the weekend that SpaceX and Taiwan Semiconductor are in discussions about a potential collaboration in which the Taiwanese foundry may use Terafab, the vertically integrated semiconductor manufacturing initiative launched by Musk, Tesla and SpaceX, as an anchor client for a future Texas facility. Zscaler reaffirmed its Q1 and full-year 2027 guidance, with CEO Jay Chaudry warning that autonomous AI agents will become the primary cybersecurity risk vector in coming years. Wells Fargo maintained its overweight rating on Meta Platforms and raised its price target to $1,000, citing Muse as a driver of a larger long-term AI cycle.

SoFi Technologies reported second-quarter adjusted net revenue of $1.2 billion, up 40%, with GAAP net income climbing 61% to $156.6 million. Total deposits ended the period at $45.5 billion, and average deposits made up over 90% of average liabilities, with the rate paid on deposits running 156 basis points below warehouse facilities, which the company says equals about $712.6 million of annualized interest expense savings. Cross-buy reached 51% of new products, up from 43% the prior quarter and 35% a year earlier, while fee-based revenue of $472.3 million made up 39% of total revenue. The lending segment brought in $724.8 million of net revenue, up 63%, on record originations of $14.8 billion, though the Technology Platform segment saw revenue fall 23% from a year earlier partly because a large client left. SoFi and Mastercard also announced that stablecoin settlement is live across SoFi Bank's card program, moving its entire $25 billion card program onto SoFiUSD, a stablecoin the bank itself issues. Wells Fargo analyst Cassie Chan rates the stock a Hold, citing valuation and earnings exposure to loan sales, and short interest stands at 14.63% of the float.

Liquidia is heading for its worst weekly decline after a legal setback in its patent dispute with United Therapeutics, as Wells Fargo added to a wave of downgrades on the North Carolina-based company. Wells Fargo analyst Benjamin Burnett downgraded Liquidia to Equal Weight from Overweight and slashed his price target to $30 from $108 per share, sending the stock lower for a third straight session. The ruling found that Liquidia violated U.S. Patent 11,826,327, which relates to United Therapeutics' best-selling lung therapy Tyvaso, and Burnett argued it adds uncertainty to L606, a treprostinil formulation the company is currently advancing. The analyst is not convinced of the company's prospects on appeal and wants more clarity on expansion opportunities for L606, which he says could be blocked for pulmonary hypertension associated with interstitial lung disease, or PH-ILD. BTIG and Raymond James were among other brokerages that downgraded Liquidia this week in reaction to the litigation update.

Wells Fargo Investment Institute sharply raised its 2027 interest-rate outlook, warning that persistent inflation could force the Federal Reserve to keep policy tighter for longer. The institute now expects the federal funds rate to finish 2027 between 4.75% and 5.00%, up substantially from its previous 4.00% to 4.25% forecast. It also lifted its year-end 2027 forecast for the 10-year Treasury yield to 5.25% to 5.75%, compared with an earlier 4.50% to 5.00% range, and raised its 30-year yield forecast to 5.50% to 6.00% from 5.25% to 5.75%. The revisions reflect Wells Fargo's view that inflation will remain firmer than previously expected, requiring a more forceful response from the Fed, while the institute kept its 2027 inflation forecast at 3%. Wells Fargo also lowered its unemployment forecast, pointing to structural limits on labor-force growth, a combination that could leave policymakers with less room to cut rates aggressively even if economic growth softens.

Tesla has secured $30 billion in fresh credit lines to help scale the Cybercab robotaxi, Optimus robot, and Tesla Semi. The company announced Tuesday that Citibank agreed to a $20 billion three-year delayed-draw term loan facility, while Wells Fargo signed an $8 billion five-year revolving credit facility and a $2 billion revolving credit facility with a 364-day term. Tesla said in a regulatory filing that it does not plan to draw on these loan facilities this year. The company has already projected it will spend at least $25 billion on capital expenditures for 2026, and it finished the second quarter of this year with around $9 billion in debt and more than $40 billion in cash and investments. All three new products have required new manufacturing lines, and for the Semi and the Optimus robot Tesla has taken the approach of building out new dedicated factories.

Taiwan Semiconductor Manufacturing is considering an increase in its 2-nanometer production plans, a move Wells Fargo says could create an incremental opportunity for semiconductor equipment companies. The potential expansion comes as demand for advanced manufacturing continues to rise across AI, smartphones and custom silicon, with TSMC manufacturing chips for companies including Apple, Nvidia and AMD. Wells Fargo cautioned that details including timing, size and production node still need confirmation. Because moving to smaller manufacturing nodes requires increasingly sophisticated and expensive production equipment, additional 2nm capacity can ripple through the semiconductor supply chain. Confirmation of the size and timing of any additional 2nm capacity could give investors a clearer picture of how much additional equipment spending may follow.

Wells Fargo downgraded its guidance on the information technology sector to neutral from favorable, pointing to elevated expectations and rising debt-funded investment. The firm said technology's strong gains, elevated expectations and increased debt-funded investment have balanced its risk-reward outlook. At the same time, Wells Fargo upgraded industrials to favorable from neutral, citing the sector's recent pullback and lasting demand from AI infrastructure, power, defense, reshoring and aerospace. In fixed income, it raised leveraged loans to neutral from unfavorable, noting their floating-rate income, lower volatility and limited sensitivity to interest rates. The changes come alongside revised 2027 forecasts: Wells Fargo now expects the Federal Reserve to raise rates more aggressively as geopolitical risk and business technology spending add to inflation pressure, and it raised its 2027 federal funds rate target while expecting higher 10- and 30-year Treasury yields by the end of that year. The bank kept its inflation target at 3.0% but lowered its growth expectations and cut its 2027 unemployment target, and it raised its year-end 2027 crude oil target on supply risks and expected inventory rebuilding while trimming its gold target, though it still expects gold's uptrend to continue.

Wells Fargo Investment Institute raised its crude oil price targets for 2027 on Tuesday, citing ongoing supply disruptions and inventory rebuilding needs. The institute increased its year-end 2027 target for West Texas Intermediate crude to $75-$85 per barrel from $70-$80, and moved its Brent crude target to $80-$90 per barrel from $75-$85. Wells Fargo analysts said they expect supply disruptions to gradually ease through 2027, but ongoing closure risks will add a premium to each barrel, and they anticipate countries will rebuild depleted energy inventories from multi-year lows as supply conditions normalize. The analysts said they expect prices to subside from recent highs but to remain above their previous targets through 2027. The institute also noted that persistent geopolitical risk and business technology spending appear likely to intensify inflation pressure, and it expects the Federal Reserve to respond with additional interest rate increases, which should slow global economic growth.

Wells Fargo has renewed its agreement to use Intercontinental Exchange's mortgage loan servicing system, and the Wall Street bank is set to bring its full home loan servicing portfolio onto ICE's MSP. The loan servicing system helps servicers manage the full servicing lifecycle, from loan boarding to payoff or default resolution. Bob Hart, president of mortgage technology at ICE, said the ability to automate complex workflows, reduce manual intervention, and adapt quickly to regulatory change is what separates servicers who are managing their portfolios from those who are truly in control of them.

Wells Fargo analyst Stephen Tusa initiated coverage of Vertiv Holdings Co on September 25 with an Overweight rating and a $340 price target, calling it the best sales growth story in multi-industry. The call follows a run of acquisitions that push Vertiv deeper into power and cooling for AI data centers, most notably the September 2 agreement to buy Utility Innovation Group for about $1.45 billion in cash plus up to $1.15 billion more if earnings targets are met, potentially taking total consideration to $2.6 billion. On September 24, Vertiv also agreed to acquire King Environmental Services, an Irish fluid management and commissioning firm, for undisclosed terms not expected to be material, and on September 21 its 2.3 MW coolant distribution unit qualified under NVIDIA's DSX Ready program. In the second quarter, net sales rose 24% to $3.274 billion, adjusted operating margin expanded 410 basis points to 22.6%, adjusted EPS climbed 60% to $1.52, and adjusted free cash flow reached $925 million, while management raised 2026 adjusted EPS guidance to $6.65 to $6.75 from $6.30 to $6.40 and guided third-quarter organic growth of 34% to 36%. Shares trade at 27.78 times forward earnings as of September 28, after a five-year gain of almost 900%, and the October 22 earnings report must show delayed projects converted into sales near the $3.65 billion to $3.85 billion third-quarter guide.

Polymarket wagers on the failure of major banks including Wells Fargo & Co., JPMorgan Chase & Co. and Bank of America Corp. are drawing scrutiny from Washington officials, according to people familiar with the matter. The contracts remain a tiny piece of the prediction market's offshore platform, which says it bans Americans from trading, but they have raised concerns among bank regulators and lawmakers on Capitol Hill who worry the bets could grow in volume and eventually help fuel a real-world bank run. Wagers on individual bank failures total just a few hundred dollars in many cases, though volume in some contracts ranges into the thousands of dollars for firms like Deutsche Bank AG and Wells Fargo, and recent trades tied to banks failing by the end of this year have attracted $76,000 in overall volume, while an earlier set of wagers focused on failures by July saw $591,000 in trading. Officials inside the Federal Deposit Insurance Corp. expressed concern in recent weeks when the contracts were highlighted to senior staff at an internal meeting, questioning whether there was any legitimate commercial or investment benefit and whether the agency's internal ethics restrictions were strong enough to prohibit insiders from trading on the platforms, though officials ultimately decided existing ethics rules were strong enough. FDIC Chairman Travis Hill said at a private fireside chat in March that although prediction markets could be a very useful tool for monitoring, he is worried about people using the platforms to speculate on the timing of bank failures. Polymarket Chief Legal Officer Neal Kumar defended the markets as aggregating information typically available only to the most sophisticated financial institutions, while Kalshi spokesperson Elisabeth Diana called the bank-failure wagers in poor taste, former FDIC head Sheila Bair warned they introduce dangerous incentives, and Senator Elizabeth Warren, the top Democrat on the Senate Banking Committee, called the contracts reckless.

Wells Fargo said Wednesday that Scott Powell, currently its chief operating officer, will become chief risk officer when current risk chief Derek Flowers retires in mid-January after almost 30 years with the bank. Flowers joined Wells Fargo in 1995 and rose through the ranks, becoming chief credit officer and then chief risk officer in 2022. Chairman and CEO Charlie Scharf said Derek played a pivotal role in strengthening the company's risk and control framework and fostering the strong risk culture that positions Wells Fargo for continued growth. The bank spent years reforming and strengthening its risk and control functions after a scandal came to light in 2016 involving employees opening millions of bogus accounts to reach sales targets, and last year the Federal Reserve lifted an asset cap imposed in 2018 as punishment for its abusive practices. Powell has served as COO of Wells Fargo since December 2019, and the stock edged up 0.2% in after-hours trading.

Ark Invest founder and CEO Cathie Wood added to her funds' existing positions in Meta Platforms, Airbnb and Beam Therapeutics on Monday, disclosing the trades at the end of the trading day. Meta Platforms, parent of Facebook, Instagram and WhatsApp, jumped 11% on Monday, its biggest single-day gain in more than a year, and Wells Fargo raised its price target on the stock from $640 to $796 ahead of Meta Connect on Wednesday and Thursday. Airbnb is on track for its sixth consecutive year of double-digit revenue growth, though its shares remain 24% below the all-time highs reached in early 2021 shortly after its IPO. Beam Therapeutics fell 10% on Sept. 9 and nearly 20% over three trading days after updated Phase 1/2 data for its BEAM-302 candidate, a gene-editing treatment for alpha-1 antitrypsin deficiency, showed encouraging efficacy but less numerical improvement than investors expected; the U.S. Food and Drug Administration feedback has Beam pursuing an accelerated approval pathway. Beam shares are down 9% year-to-date.

Wells Fargo downgraded Netflix to Underweight and cut its price target to $57 from $80, sending the streaming giant's shares down about 5% on Friday. The firm pointed to changing viewing patterns and uncertainty around Netflix's content pipeline as reasons for the more cautious stance, and said the new target implies the stock trading well below its most recent closing level. Wells Fargo analysts estimated overall viewing activity on Netflix declined 8% year over year during the first six months of 2026, adding that engagement with the company's leading original productions weakened and could deteriorate further during the remainder of the year. The report noted Netflix has broadened its entertainment offerings into categories such as sports, gaming and documentaries while increasing its presence on external platforms including Alphabet-owned YouTube, an approach that may expand reach but could alter the balance between broad engagement and blockbuster original programming. The brokerage also trimmed its profitability forecasts for 2027 and 2028, citing expectations for higher content-related pressure, and said investors may face greater uncertainty around future earnings trends as Netflix evaluates its spending priorities and programming strategy.