Stocks- Bank Share Prices Fall After Earnings Releases By Investing.com
Investing.com – Bank stocks fell in pre-market trading on Friday after an underwhelming earnings releases from the big banks.
Wells Fargo (NYSE:) slumped 1.92% as of 8:55 AM ET (1:55 AM GMT) before the morning bell after it reported an 18.6% decline in quarterly profit, hit by legal costs and falling mortgage banking income.
Meanwhile Bank of America (NYSE:) was down 0.12% after rising 0.8% when its third quarter results beat analysts’ expectations.
Shares in Citigroup (NYSE:) and JPMorgan (NYSE:) continued to fall from Thursday, despite reporting better than expected third quarter earnings results.
Citigroup decreased 0.21% in pre-market trading after it reported a slight rise in revenue on Thursday while JPMorgan fell 0.61%.
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