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Wells Fargo shares climb on higher earnings, CEO calls for 'timely' trade resolution

1. Wells Fargo reported Q1 earnings of $1.39 per share, exceeding expectations. 2. Total revenue was $20.15 billion, below Wall Street's $20.75 billion forecast. 3. Shares rose nearly 2% in pre-market trading following earnings report. 4. Net interest income fell 6% to $11.50 billion year-over-year. 5. The bank bought back $3.5 billion worth of shares in Q1.

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FAQ

Why Bullish?

Despite missing revenue expectations, stronger earnings and share buybacks signal confidence.

How important is it?

Earnings beat and significant buyback enhance investor sentiment towards Wells Fargo.

Why Short Term?

Immediate market response to earnings data and share buybacks likely to influence price quickly.

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