cream of the crop (relatively speaking) among big financial institutions
(brn)
| Price | 30.58 |
| Price Change Today | -$0.05 (-0.16%) |
| P&P rating | ![]() |
| Zacks Rank | 3 - HOLD |
| Open Price | $30.78 |
| Previous Close | $30.63 |
| Daily Range | $30.29 - $30.85 |
| 52-Week Range | $22.58 - $34.19 |
| Volume | 29,647,726 |
| Wells Fargo & Company is a diversified financial services company providing banking, insurance, investments, mortgage and consumer finance services through stores, its Internet site and other distribution channels across North America as well as internationally. (Company Press Release) | |





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(brn)
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Why? ... Smiling ... the silver lining in every cloud ...
This Euro meltdown is a GREAT opportunity for USA companies, doing business in the EU with euros in their EU bank accounts, to profit from the meltdown by exchanging their euros for USA dollars. Therefore, I expect to see companies like MSFT and HPQ to report currency exchange rate GAINS in addition to product profits.
What tells me they're doing that ... when you exchange euros for the USD you are "selling" Euros ... and "buying" USD. The selling in Euros ... is driving the Euros down ... and the apparent availability of the euro to exchange for the USD signals lack of euro demand ... while the raising USD signals strong demand and lack of availability ... which the USA tried to head off at the pass by opening up the window to the EU. Seems the gov'ts were aware this scenario was coming ... and points for being ahead of the curve ... or this would be WORSE.
Surprise profits, and stocks "On sale, NOW!" ... that's why I'm bullish.
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