Banks Reported This Morning

Note Citi, I do not yet know what was wrong the investment side of the house. It may matter for all of them going forward.



Wall Street was tuned in Friday to third-quarter earnings by financial heavyweights, such as JPMorgan Chase (JPM), Morgan Stanley (MS), and Citigroup (C).

JPMorgan Chase kicked off earnings before the opening bell Friday. Its stock rose 2% after the bank’s quarterly results topped Wall Street consensus for earnings and revenue.

Wells Fargo posted stronger-than-expected revenue for the third quarter, offsetting a profit miss. The stock was up 3%. Morgan Stanley reported a profit drop in the third quarter, prompting shares fell nearly 5% in midday trading. Citigroup reported a 25% drop in third-quarter profit on Friday following weak investment banking activity.