Today’s Trending Stocks: Southwest Airlines, Aaron’s, Wells Fargo, and More

Fastenal Company (NASDAQ:FAST) is off by 2.5% after the company reported third-quarter earnings of $0.44 per share on revenue of $1.01 billion. The Street was expecting earnings of $0.45 per share on sales of $1.01 billion. Overall revenue inched up 1.5% year-over-year as the company’s OEM and construction fastener sales remained relatively soft. The company didn’t buy back any stock during its second and third quarters. A total of 24 funds from our database had a bullish position in Fastenal Company (NASDAQ:FAST) at the end of the second quarter, up by one fund from the previous quarter.

Last but not least, shares of Wells Fargo & Co (NYSE:WFC) are trending after The Wall Street Journal reported that the bank’s top executives held a conference call on Monday, were they discussed the strategy after the recent scandal. Wells Fargo’s President and Chief Operating Officer Timothy Sloan said that people are still opening more accounts than closing accounts, while Chief Financial Officer John Shrewsberry said that besides “some legal set asides”, Wells Fargo’s third quarter earnings aren’t that much different from what they would have been had the scandal not have occurred. However, Shrewsberry was quoted as saying that Wells Fargo, “probably won’t broadcast that because it might incentivize people to do more, to make it tougher on Wells Fargo, but the story line is worse than the economics at this point”. Warren Buffett’s Berkshire Hathaway owned around 480 million shares of Wells Fargo & Co (NYSE:WFC) at the end of June.

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