Wells Earnings Released

Excerpt: The bears think Wells is more vulnerable than rivals to losses from bad loans. For instance, J.P. Morgan Chase's bad-loan reserve looks stronger, at 5.64% of loans, versus Wells's 3.22%. What's more, J.P. Morgan's reserve-to-past-due-loan ratio is 212%, more than twice Wells's 92%. Those suggest Wells would be more exposed if the economic recovery faltered. The bank's $125 billion of home-equity loans could yet show elevated losses.

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