Earnings News: JPMorgan Chase & Co. (JPM), Wells Fargo & Co. (WFC) [VIDEO]

  @JessicaMentonj.menton@ibtimes.com on October 11 2013 10:56 AM
JPMorgan
JPMorgan Chase & Co. (NYSE: JPM) reported a third-quarter earnings, excluding special charges, of $5.8 billion, or $1.42 a share, up slightly from $5.7 billion, or $1.40 a share, in the same period a year-ago. Reuters

Wall Street was mixed at the open on Friday, as fears continued to mount about the budget deadlock between Republicans and Democrats in Washington. 

JPMorgan Chase & Co. (NYSE: JPM) reported a fiscal third-quarter loss of $380 million, but the investment bank still beat analysts' estimates for EPS. Excluding special charges, the bank said it earned $5.8 billion, or $1.42 a share, up slightly from $5.7 billion, or $1.40 a share, in the same period a year earlier.

On Friday, shares of JPMorgan Chase fell 0.59 percent to $52.21 in morning trading.

Wells Fargo & Co. (NYSE: WFC) said fiscal third-quarter net income rose to $5.32 billion, or 99 cents per share, from $4.72 billion, or 88 cents per share, a year earlier. Analysts polled by Reuters expected the bank to report quarterly EPS of 97 cents on revenue of $21 billion.

Shares of Wells Fargo fell 2.34 percent to $40.47.

The Dow Jones industrial average rose 6.30 points, or 0.04 percent, at 15,132.37. The S&P 500 fell 0.32 points, or 0.04 percent, at 1,691.80. The Nasdaq Composite added 0.67 points, or 0.02 percent, at 3,761.05.

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