Wells Fargo, AT&T Drag in Monday Trading

American Capital Agency Corp. (NASDAQ:AGNC) has been upgraded by Sterne Agee from a Neutral to a Buy rating in a research note that was issued to investors on Monday.

Wells Fargo & Company (NYSE:WFC): Wells Fargo reported Q3 revenues reaching $21.2 billion, which is an increase of 8.0 percent on the previous year. On average, analysts believe that Wells Fargo will report earnings that reach $21.5 billion. The company reported a 21.7 percent rise in earnings to $4.94 billion. Earnings per share saw a 22.2 percent increase to $0.88 per share, which beats analysts consensus by a penny.

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Intel Corporation (NASDAQ:INTC) continues to drive Moore’s Law, which is a theory that transistor density doubles every two years on an integrated circuit, but the company’s investments regarding the effort could be questionable. It is not clear what the return on investment for Moore’s Law will be in the coming years. Intel will spend something slightly lower than $12.1 billion on capital expenditures during 2012. Additionally, Intel invested heavily in chip equipment maker ASML, and analysts mentioned that Intel had to invest in ASML because the tools that were needed to keep Moore’s Law humming were not in demand from other chip makers.

ARMOUR Residential REIT, Inc. (NYSE:ARR): On Monday, ARMOUR Residential REIT Inc. shares fell below their 200 day moving average of $7.15, and they changed hands as low as $6.57 per share. Currently, the shares are trading off at about 5.4 percent on the day.

AT&T Inc. (NYSE:T) extended its relationship with Fiserv and signed a multi-year, sole provider agreement for its CheckFreePay walk-in bill payment service. The contract spans the walk-in bill payment capabilities for Wireline customers into 13 more states.

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