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Wells Fargo & Company (NYSE:WFC) Chief Risk Officer Mike Loughlin states that credit quality trends are showing improvement in Q2 along with net loss reductions, nonperforming assets, nonaccrual loans, and loans more than 90 days past due and still accrueing. Loughlin states, ”Credit performance over the past two years has steadily improved and the second quarter results continued that trend. Absent significant deterioration in the economy, we expect continued but more modest improvement for the remainder of the year, and we continue to expect future reserve releases in 2012.” Shares of Wells Fargo & Company are trading 3.04% higher today.
Quest Diagnostics Inc. (NYSE:DGX): According to Morgan Stanley, the positive trial results regarding Merck’s (NYSE:MRK) osteoporosis drug Odanacatib is also a benefit for Quest, but share strenght is overdone. The firm gives an Equal Weight rating on shares of Quest Diagnostics Inc. Shares of Quest Diagnostics Inc are trading 0.24% lower today.
Woori Finance Holdings Co., Ltd. (NYSE:WF): With December’s presidential election near, political motivation to push through a deal for the sale of Woori will probably be in short supply. The ruling party’s members requested that the government place the plan on the back burner in hopes of avoiding conflict prior to the election. The odds of a deal to sell Woori this year are slimming, and to taxpayers, this indicates little prospect of seeing the remaining amount of the total 12.8 trillion won, or $11.1 billion, which was put into Woorie in 2001. Shares of Woori Finance Holdings Co., Ltd. are trading 0.37% higher today.
Piedmont Natural Gas Company Inc. (NYSE:PNY) shares are trading 0.09% lower today.
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