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Wells Fargo Sharply Lower After Mixed Q3 Report

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Wells Fargo & Co (NYSE: WFC) shares are trading lower by $1.65 (2.8 percent) at $53.56 in Friday's session.

Before the open, the company reported a Q3 adjusted EPS of $1.04 vs. $1.03 estimates, along with a sales miss of $480 million. The stock came under immediate selling pressure in pre-market trading that has carried over into the regular session.

After a much lower open, it continued in that direction before finding support at $52.84 and reversed course. That marks its lowest level since it bottomed on Sept. 19 at $52.53.

Wells Fargo rebounded to make a new high for the session at $53.71 and isn't far off that level. In order to fill the void in price and reach the lower-end of Thursday's session, it will need to reach to $55.06.

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