Wells Fargo Says Wachovia Is Beating Expectations

Shares of Wells Fargo (WFC) are up 18% pre-market, as the bank just came out with a very positive earnings pre-announcement. It says the Wachovia acquisition is going better than expected, that its net interest margin is a wide 4.1% and that EPS will be $.55, well above estimates.

Of course, the market as a whole likes the news. Futures are solidly up across the board, while other financials are rallying as well. Citi (C) and Bank of America (BAC) are both up over 5%

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