Wells Fargo (NYSE: WFC) kicked off financial earnings Friday, and it's super busy in the sector this week with earnings due from Goldman Sachs
(NYSE: GS), J.P. Morgan Chase & Company (NYSE: JPM), Bank of America
(NYSE: BAC) and Citigroup (NYSE: C). Fourth-quarter numbers from Wells Fargo looked pretty good on the surface, but Wall Street focused on the banks' net interest margin -- basically the difference between the interest rate received on interest-earnings assets (loans) and the interest rate paid on interest-earning liabilities (customer deposits). It came in at 3.56 percent versus 3.89 percent a year ago and 3.66 percent in the third quarter. Earnings and sales growth came in better than expected with quarterly profit up 25 percent from a year ago to $0.91 a share. Sales rose six percent to $21.9 billion.Technically, Wells Fargo still looks solid. It's been toying with a breakout over $35.19 -- its December 18 intraday high -- but hasn't really gotten going yet. On Friday, the stock enjoyed a nice bounce off its 20-day simple moving average (SMA) after early weakness. It finished near its high for ...
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