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Will Wells Fargo (WFC) Stock Be Helped by GE Asset Acquisition?

NEW YORK (TheStreet) -- Wells Fargo (WFC - Get Report) announced on Tuesday morning that it has signed an agreement to buy GE Capital's Commercial Distribution and Vendor Finance platforms, as well as part of GE's corporate finance business.

The deal includes total assets of approximately $32 billion and approximately 3,000 employees.

"This acquisition is an outstanding opportunity for Wells Fargo to deepen relationships and strengthen our presence in key commercial lending markets," Time Sloan, head of Wells Fargo Wholesale Banking, said in a statement.

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Shares of Wells Fargo are down by 0.42% to $51.95 in mid-morning trading today.

Additionally, Wells Fargo will release its 2015 third quarter earnings results before the market open tomorrow morning. Analysts are anticipating that the company's earnings and revenue results will rise year over year.

Wells Fargo has been forecast by analysts surveyed by Thomson Reuters to report earnings of $1.04 per share on revenue of $21.75 billion for the September ended period.

Last year, the company reported earnings of $1.02 per share on revenue of $21.2 billion for the 2014 third quarter.

Wells Fargo is...


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