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Many other banks' stock prices also shot up after Wells Fargo's quarterly loss came in below analysts' expectations. Wells Fargo gave anxious investors a pleasant surprise Wednesday, reporting a profit drop that was milder than Wall Street had anticipated and increasing its quarterly dividend by 10 percent. This photo shows the Wells Fargo branch in Sunnyvale, Calif. Paul Sakuma, Associated Press Wall Street has been waiting for some good news from banks. On Wednesday, Wells Fargo & Co. delivered. The San Francisco-based bank said its second-quarter earnings, although down 23 percent, were better than expected. It will also pay out 10 percent more in dividends to shareholders -- an expression of confidence that sent depressed bank stocks soaring. Like U.S. Bancorp a day earlier, Wells Fargo won praise from analysts for... [read full story]
