Volume Spike Investor

Wells Fargo & Co. (NYSE: WFC) is seeing a price and volume surge after the company beat earnings this morning. Its shares had been thrown out like the proverbial baby with the bathwater over recent trading weeks as the entire sector has been battered. Wells Fargo posted solid earnings and actually raised its dividend. We identified this as one of the solid survivors recently, although its stock slid with the sector.

At 10:45 AM EST we have seen a 25% gain (or +$5.00) to $25.60 on more than 70 million shares. This compares to an average daily volume of roughly 37 million shares. Its 52-week trading range is $20.46 to $37.99.

JON OGG

July 16, 2008