Outlook Roundup: Wells Fargo, JC Penney

Among the earnings projection stories for Thursday, April 9, from AP Financial News:

Top stories:

NEW YORK (AP) — Wells Fargo & Co. said Thursday it expects record first-quarter earnings of $3 billion, easily surpassing analysts' estimates and providing an encouraging sign for the banking industry.

Other stories:

PLANO, Texas (AP) — J.C. Penney Co. predicted a narrower first-quarter loss than previously forecast after reporting better-than-expected March same-store sales results.

PLEASANTON, Calif. (AP) — Department store chain Ross Stores Inc. boosted its first quarter outlook Thursday after the retailer said its March sales were stronger than expected.

NEW YORK (AP) — Women's apparel retailer Cache Inc. on Thursday raised the low end of its first-quarter outlook after same-store sales fell 20.7 percent in the first quarter.