Business Feed Article | Business | guardian.co.uk: Wednesday, October 22, 2008
guardian.co.uk, UK -
By Jonathan Stempel NEW YORK, Oct 22 (Reuters) - Wachovia Corp reported a third-quarter loss of $23.9 billion on Wednesday, a record quarterly deficit for a banking company in the global credit crisis, underscoring the challenges Wells Fargo & Co faces when it acquires the ...
Wachovia clocks up $24bn loss but buyer Wells Fargo remains buoyant | Business | guardian.co.uk: Wednesday, October 22, 2008
guardian.co.uk, UK -
Wachovia: loss easily outstrips the $14bn that Wells Fargo is set to pay for the North Carolina bank. Photograph: Shannon Stapleton/Reuters Stricken US bank ...
5 Things Smaller Than Wachovia's $23.7 Billion Loss - The Ticker (usnews.com): Wednesday, October 22, 2008
U.S. News & World Report, DC -
Wow, that's a bad quarter. Wachovia says losses hit nearly $24 billion in the third quarter, including a $19 billion goodwill impairment charge as it tries to clear the pipes before merging with Wells Fargo. Here's a look at what that loss is ...
Wachovia takes biggest quarterly credit crunch loss - FP Trading Desk: Wednesday, October 22, 2008
National Post, Canada -
With the largest quarterly deficit for a banking company during the credit crisis, Wachovia Corp.’s US$23.9-billion third-quarter loss on a US$18.7-billion goodwill writedown is a noteworthy feat to say the least. It has lost US$33-billion in the past two quarters. ...
Wachovia posts $23.9B loss - Dallas Business Journal:: Wednesday, October 22, 2008
Bizjournals.com, NC -
Wachovia Corp. is reporting a third-quarter loss of $23.9 billion, or $11.18 per share. In the same period last year, the Charlotte-based bank earned $1.62 billion, or 85 cents per share. In the latest quarter, excluding goodwill impairment of $18.7 billion after ...
Wachovia posts record $23.9 billion loss in third quarter - International Herald Tribune: Wednesday, October 22, 2008
International Herald Tribune, France -
By Eric Dash NEW YORK: Wachovia, the large US lender preparing to be taken over by Wells Fargo, announced Wednesday the biggest quarterly loss for any bank since the financial crisis began. The bank lost a net $23.9 billion during the third quarter as ...
Wachovia Reports Historic Loss - washingtonpost.com: Wednesday, October 22, 2008
Washington Post, United States -
By Zachary A. Goldfarb Wachovia posted a $23.9 billion quarterly loss, as its portfolio of loans deteriorated and deposits fled the bank, laying bare the ...
Sector Snap: National bank stocks falter - Forbes.com: Wednesday, October 22, 2008
Forbes, NY -
AP 10.22.08, 2:56 PM ET National bank stocks fell Wednesday, after Wachovia Corp., which is being bought by Wells Fargo & Co., said it swung to a huge loss in the third quarter. A batch of worrisome earnings reports, including those of drug maker Merck & ...
Wachovia 3Q deposits dropped $30 billion - St. Louis Business Journal:: Wednesday, October 22, 2008
Bizjournals.com, NC -
Wachovia Corp. says it is taking steps to stabilize deposits after customers withdrew billions of dollars in recent weeks. Depositors pulled money from the ...
The New York Times > Log In: Wednesday, October 22, 2008
New York Times, United States -
By ERIC DASH The Wachovia Corporation announced a $23.9 billion third-quarter loss on Wednesday as it prepared to be taken over by Wells Fargo. ...

Wachovia posts $35.8b loss | theage.com.au: Wednesday, October 22, 2008
The Age, Australia -
Wachovia, the bank that came within hours of collapse last month, reported a $US24 billion ($35.8 billion) loss and said business customers drained a quarter of their deposits as the lender sought a rescuer. The third-quarter loss at Wachovia, ...
Wachovia Exposes Warts Before Wells Wedding Day - TheStreet.com: Wednesday, October 22, 2008
TheStreet.com -
Wachovia (WB Quote - Cramer on WB - Stock Picks) reported a miserable third quarter in which cumulative losses on its soured option adjustable-rate mortgage portfolio nearly doubled, as the bank sought to lay out its warts ahead of its merger with Wells ...
Wells Fargo & Company Announces Dividend - MarketWatch: Wednesday, October 22, 2008
MarketWatch -
, , ) today announced a quarterly common stock dividend of 34 cents per share. The dividend is payable Dec. 1, 2008, to stockholders of record on Nov. 7, 2008. The Company has approximately 3.3 billion shares outstanding. ...
Wachovia takeover 'on track to complete by Christmas' despite $24bn quarterly loss - Times Online: Wednesday, October 22, 2008
Times Online, UK -
Wachovia, the American banking group that is being rescued by Wells Fargo, reported a quarterly loss of $23.9 billion (£14.7 billion) yesterday, ...
Wachovia Posts Gigantic Loss - Forbes.com: Wednesday, October 22, 2008
Forbes, NY -
Wachovia's assets have fallen in value and the slide left a big dent in the thrift's earnings. On Wednesday, North Carolina-based Wachovia (nyse: WB - news - ...
Wells Fargo plays down $24bn loss at Wachovia | Business | The Guardian: Wednesday, October 22, 2008
guardian.co.uk, UK -
The stricken US bank Wachovia reported yesterday the biggest quarterly loss of any bank since the onset of the credit crunch. The $24bn (£14.7bn) of losses ...
Wachovia reports $23.9-billion third-quarter loss - Los Angeles Times: Wednesday, October 22, 2008
Los Angeles Times, CA -
Analysts were surprised by the deficit, the largest of any bank since the financial crisis began. The biggest factor was its 2006 acquisition of Golden West . By E. Scott ...
Wells chairman expects faster recovery - Wichita Business Journal:: Wednesday, October 22, 2008
Bizjournals.com, NC -
Wells Fargo & Co. Chairman Dick Kovacevich says he expects governments around the world to do whatever necessary to restore normal functioning of the global financial system. “There may be doubts how long [the recovery] will take, but it will get done ...
FT.com / Home UK / UK - Wachovia reveals run on deposits before sale to Wells: Wednesday, October 22, 2008
Financial Times, UK -
By Saskia Scholtes in New York Wachovia reported a third-quarter loss of $23.9bn yesterday and revealed details of a run on commercial deposits before its sale to rival Wells Fargo. Towards the end of the quarter, corporate customers withdrew more than $26bn, or ...
Wells Fargo's Kovacevich: The Importance of Hitting Bottom - BusinessWeek: Wednesday, October 22, 2008
BusinessWeek -
By Maria Bartiromo Last year at this time, Wachovia (WB) was trading at about 47. After the bank announced a $23.7 billion, third-quarter loss on Oct. 22, its stock fell to 5.71. Wells Fargo ( WFC ), which agreed to buy Wachovia (besting a government-assisted bid ...

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