Wells Fargo's 4Q Misses; BofA Tops Estimates; Citigroup M&A Fees Surge
On this episode of Stock Movers:- Wells Fargo & Co. (WFC) missed analysts’ profit estimates as severance costs drove up expenses.The bank spent $612 million on severance as part of a plan designed to cut costs. Expenses were $13.7 billion, compared with the $13.6 billion predicted by analysts in a Bloomberg survey, according to a statement Wednesday.- Bank of America's (BAC) equity traders posted their best fourth quarter ever as the company reaped the benefits of volatile markets and net interest income topped analysts’ estimates. Revenue from equity trading rose 23% to $2.02…
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