Michael Turrin, Wells Fargo Securities equity analyst, joins 'The Exchange' to discuss CoreWeave jumping on its $6 billion AI project and how to play the name.

Wells Fargo & Company (NYSE:WFC) is one of the Best Large Cap Value Stocks to Invest In. Raymond James downgraded the company’s stock from “Outperform” to “Market Perform,” noting the limited upside potential.

Wells Fargo reported earnings per share of $1.60 on total revenue of roughly $20.8 billion. EPS beat FactSet estimates easily, while revenue came in slightly higher than estimates.

Employees rallied in Charlotte on Tuesday to call attention to allegations that a senior HR exec at the bank is coercing workers to decertify their union.

JPMorgan and Citigroup both reaped bumper gains from their bond and stock-flipping businesses during the second quarter. But Wells Fargo, the country’s fourth-biggest bank by deposits, relies more on traditional kinds of banking. It lowered its full-year interest income target, as loan growth remained muted.

The bank has closed seven regulatory punishments, known as consent orders, this year and 13 since 2019. It still has one remaining consent order from 2018. Consumers and businesses have continued to repay loans, allaying concern that shifting U.S. trade policies would trigger a recession. Still, uncertainty around the economic outlook persists.

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