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Oil and gas losses increase Wells Fargo charge-offs

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Oil and gas losses increase Wells Fargo charge-offs

on July 15reported net income applicable to common stock of $5.17 billion or$1.01 per share. In the year-ago period, it was $5.36 billion, or $1.03 pershare.

TheS&P Capital IQ consensus normalized EPS estimate for the recent quarter was$1.01.

Wells noted its charge-offs totaled $924 million, up $274million from a year ago due to higher oil and gas loan losses.