More big bank misses coming? Maybe not

Wells Fargo fell a penny short of Wall Street's expectations. That came on the heels of Citigroup's penny-short earnings. This is hardly a crushing blow for either bank. There are strong points for both banks and the entire industry. In the case of Wells Fargo, revenue was reduced because it took a loss of $250 million on some adjustable rate mortgages and debt securities. You should not be surprised to see more near-misses, but there will be some upside surprises. Consider Bank of America's earnings.

> Check out the AP article about Wells.