Wells Fargo released earnings before the open this morning. It opened down roughly 3.5% and remains down roughly 3.5% at this time. (This illustrates why earnings should never be released during trading hours, by releasing before the open, no one got to trade a single share (unfairly) before the earnings news was reflected in the market price).
The earnings and operations were actually very good, record earnings. The problem was that expectations were even higher for certain aspects of the operation.
With the stock at about $34, I am tempted to add to my position. However, it is not down that much from its recent high of $36.60. I will likely hang onto my cash and see if better opportunities emerge in the weeks ahead for Wells Fargo or other stocks.