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Wells Fargo expects record Q1 profit
Wells Fargo expects record Q1 profit
No big bank was supposed to utter the words "record" and "profit" in the same sentence this year. But Wells Fargo said Thursday it earned about $3 billion for the first quarter - its highest income ever, and twice what analysts predicted.
The unexpected peek into the bank's official results, which will be released in two weeks, was a welcome sign of improvement in one of the most troubled and critical industries in the U.S. economy.
SF Chronicle-04/09/2009
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- Consumer Spending Down
- January Construction Permits Lowest in 50 years
- Macy's to Cut 7,000 Jobs
- January Home Sales
- SF Film Industry
- Foreclosures and Defaults up in 2008
- Stanford Plans $100 Million Energy Institute
- OneSeason.com scores $3.5 million in venture financing
- Economy Shed 598,000 Jobs in January
- Unemployment reaches 7.6
- Ownership issue plagues airline
- U.S. Home Sales Fall 5.3
- PG&E will invest $1.4 billion in solar power
- February QuickFacts
- Schwab to move headquarters in downtown SF
- Recession has taken a toll on alternative energy
- Roche to take over Genentech for $47 billion
- $50 million in stimulus funds for Doyle Drive
- San Francisco Unemployment at 8.3
- SF Film Rebates
- Bay Area home sales climb as median falls below $300k
- March QuickFacts
- World economy 'to shrink in 2009'
- Where Angels Tread: Keiretsu Forum
- SFO wins grant for hydrogen refueling station
- Venture capitalists' confidence up a little
- Wells Fargo expects record Q1 profit
- Conference: Scaling Up: From Green Buildings to Green Cities in the U.S. and China
- California unemployment reaches 11.2
- New Construction at Mission Bay
- Krakow, Poland, is the newest S.F. sister city
- Consumer confidence stronger than forecast
- Bay Area groups win a third of CIRM grants
- S.F. housing market warming up
- Stanford wins $20 million grant
- Biotech jobs germinate as San Francisco diversifies economy
- Bay Area economy shows signs of life
- Portland-Pacific condos OK'd in S.F.
- ‘Trauma' series still scheduled to film in S.F.
- BofA raises $13.5B in stock sale
- The greening of corporate America
- Bay Area sales rise again; median price up slightly over March
- Chinese solar firms shine on Bay Area
- Report: S.F., Oakland fittest metro in California
- April QuickFacts
- May-June Quickfacts
- S.F. garage takes hybrid approach to ‘green' cars
- Popular Cities for Hybrids
- Jobless rate hits 9.4 percent in May
- Solazyme raises $57M in 3rd round
- Best Cities for Young Singles to Work and Entertain
- Inverted success for S.F.'s Zynga
- Mortgage rates reach 6-month high
- Bay Area economy on verge of recovery
- CIRM awards $40.6M in stem cell training grants
- Bay Area biotechs get a blast of cash
- California jobless rate record 11.5
- Good news for home prices
- Five Bay Area solar companies awarded
- $10M grant for new neuroscience research center at Stanford
- OECD says recession ‘near bottom'
- Catalyst to get $21M upfront in Wyeth deal
- Geron inks stem-cell deal with GE Healthcare
- SunPower and Wells Fargo in $100M solar deal
- America's best and worst cities for families
- US jobless rate reaches 9.5 in June
- SF's sister city in India a big hit with businesses
- San Francisco faces a new challenge
- Intersolar Conference: Information on the Latest Trends and Technology
- A good year for SF tourism
- Four Seasons San Francisco in default
- Levi's to stay put in SF
- BioTime wins another $4M investment
- Consumer Prices Rise 0.7 in June
- Mission Bay's biz incubator
- SF unemployment rate reaches 9.8 in June
- Bay Area home sales and median price rise in June
- Five new biotech companies moving to SF
- Positive signs of the US economic indicators
- Pacific Union to be bought by Marin brokerage
- Cathedral Hill Hotel to close in October
- July - August 2009
- State money for new housing in the Bay Area
- Home price declines continue to slow
- China work buoys SF architecture firms
- Cleantech investment jumps in Q2
- 41 US cities have double-digit unemployment
- Catamount Venture raises $80M fund
- SF Mayor proposes UN center at Hunters Point
- Plans of redevelopment Treasure Island
- Consumer spending rises in June
- Conference: Innovation summit presented by SF Business Times
- Retail store Kohl's hiring in the Bay Area
- Conference: West Coast Green Innovation
- Home value drop-off slows; SF immune no more
- Stream of cash in solar in the Bay Area
- First major Class A office building transaction made in SF
- US job losses slow
- Pacific Biosciences raises $68 million
- Bay Area home sales rose in July
- Wells Fargo, BofA hiring dozens in the Bay Area
- August - September QuickFacts
- US consumer confidence ‘improves'
- US unemployment reaches 9.7 in August
- California eighth among world economies
- New program helps jobless parents
- BrightSource taps Bechtel for Ivanpah Project
- UCSF ‘tops off' stem cell building
- Construction costs hammer in savings
- SF one of the world's happiest cities
- Spanish solar company opens in SF
- Crystal Cruises back to SF home port in 2011
- Bay Area home sales mixed
- Bay Area unemployment still rising
- Playdom opens SF office
- September - October QuickFacts
- Kohl's opens new stores at end of month
- Wells Fargo donates to Bay Area schools
- Port of Oakland seeks greater capacity
- CCSF bears away $5M grant to expand its BioLink
- Ausra's solar project in Jordan
- US jobless rate climbs to 9.8 in September
- Nektar moves its headquarters to SF Mission Bay
- San Francisco hotel rates tumble
- UCSF and other UC med centers revamp breast cancer study
- UCSF leads pediatric immune-disorder research group
- Nobel Prize for Elizabeth Blackburn of UCSF
- Schwab closes landmark SF branch
- Stantec SF designs VA project in Seattle
- Bay Area leads in neuroscience
- Slight uptick in Bay Area home sales and prices
- SF unemployment at 9.7 in September
- Wells Fargo 3Q profit rises
- SF PUC starts building stalled $188M HQ
- Stimulus jolt: Bay Area labs land $240 million
- Apartment market moving on up
- United adds San Francisco nonstop from St. Louis
- SF hotel rates and occupancy keep dropping
- SF construction firm gets $5M
- URS acquires Colorado firm
- SF metropolitan area home prices inch upward
- CIRM awards $250M for stem cell research
- UCSF and Gladstone best academic places to work
- Del Monte expands into new HQ
- AA begins Hawaii flights from Oakland
- Eventbrite gets $6.5 million
- Exports through SFO, Port of Oakland rebound
- Researchers team up for stem cell work
- Gloomy times for commercial real estate
- SF area's credit scores are the best
- 28 percent of SF homes on sale have had price cut
- Commercial sales plummeted 79 percent in SF
- Maveron sets up San Francisco office
- Bay Area home prices see first annual increase in 2 years
- SF unemployment at 9.9 in October
- November QuickFacts
- Wells closes or renames its Wachovia outlets
- Tech companies move into Chronicle building
- GWallet raises $12.5M
- Vizu raises $6.75M
- Fluxion assay deals push into Asia
- SF hotel occupancy holds up, not rates
- Solazyme, Inc. gets 22M in stimulus
- Decline in home values levels off
- Buck, CCSF, Berkeley CC win stem cell grants
- SF's Jobs Now program expands
- Hotels a bright spot in SF economy
- SF employment expected to improve
- Bay Area home sales and median price top last year again
- SF unemployment at 9.7 in November
- Genentech to build new S.S.F. office building
- SF housing market continues upswing
- S.F. places third in foreign investment
- Little good news in job report
- Federal Loan to help start Transbay center work
- High-speed rail to receive $2.25 billion
- $36.7M bond sale will help fund S.F. cruise ship terminal
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