US Banks: JPM and GS rise, Wells Fargo and Citi falls after Q3 results

Citigroup C.N

** Shares down 1.1% premarket after co reports 40% jump in Q3 profit, driven by stronger investment banking, services and wealth management revenue

** Co's quarterly profit rose to $5.25 bln, or $2.85/share, vs $3.8 bln, or $1.86/share, a yr ago; investment banking revenue up 9% to $1.35 bln

** As of last close, Citi down ~13%

JPMorgan Chase & Co JPM.N

** Shares up 0.4% premarket after co reports higher Q3 profit, but also a moderation in dealmaking momentum from the prior quarter

** Bank reported Q3 profit of $5.57/shr, below the avg analyst estimate of $5.85/shr per LSEG, as fixed-income trading rev fell 4% and IB fee growth moderated

** As of last close, JPM's stock has advanced ~3.7% YTD

Goldman Sachs GS.N

** Shares up 3.8% in premarket trading

** Bank posts higher Q3 profit, driven by a 72% jump in equities trading revenue

** Equities revenue jumped 72% to $6.44 bln as volatile markets spurred trading, while investment banking fees rose 21% to $3.22 bln, defying a broader M&A slowdown

** As of last close, GS shares up ~1.7% YTD

Wells Fargo WFC.N

** Shares down 1% premarket after co reports a rise in Q3 profit

** The fourth-largest US lender reports net income of $5.95 bln, or $1.87/share, compared with $5.59 billion, or $1.66/share, a year earlier

** WFC says its customers are doing well despite economic uncertainty, but shares fallamid broader investor caution on the banking sector over future Fed rate hikes

** As of last close, stock has fallen ~10.6% YTD

** Morgan Stanley MS.N and Bank of America MS.N, which are set to report before the market opens on Wednesday, also traded higher

https://www.reuters.com/graphics/USA-BANKS/byvraxzgrpe/chart.png