BMO Capital analyst James Fotheringham lowered his price target on Wells Fargo (WFC) to $57 and kept his Market Perform rating after its Q3 results. The analyst cites the bank's lower than expected net interest income along with a miss on fees and a higher than anticipated operating costs. Fotheringham contends that before the new Wells Fargo CEO arrives and administers a strategic review, there are better investment opportunities in large cap banks that include Citi (C), Bank of America (BAC), Capital One (COF) and Morgan Stanley (MS).

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Notable gainers among liquid option names this morning include UnitedHealth (UNH) $475.73 +30.10, Super Micro (SMCI) $914.90 +32.15, Humana (HUM) $324.54 +9.90, Morgan Stanley (MS) $89.42 +2.43, and Cencora Inc (COR) $238.39 +4.18.

Check out this morning's top movers from around Wall Street, compiled by The Fly. HIGHER - Macatawa... To see the rest of the story go to thefly.com. See Story Here

Reports Q1 revenue $25.82B, consensus $25.46B. Reports Q1 CET1 capital ratio 11.8%. Reports Q1 tangible book value per share $24.79. Reports Q1 net charge-offs .58%. The bank said, "We reported a strong quarter as our businesses performed well, adding clients and deepening relationships. We reached 36.9 million consumer checking accounts, with 21 consecutive quarters of net checking account growth. Our Wealth Management team generated record revenue, with record client balances, and investment banking rebounded. Bank of America's sales and trading businesses continued their strong 2023 momentum this quarter, reporting the best first quarter in over a decade. Continued strong earnings and strong expense management both position our company to continue to drive our market leading positions across our businesses."