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WFC

Sector Update: Financial Shares Lift as Citigroup, JPMorgan Chase Report Earnings

Top Financial Shares:

JPM: flat

BAC: +0.24%

WFC: +1.31%

C: +1.04%

USB: flat

Financial shares were generally higher in pre-market trade Tuesday, positioning to recoup some of Monday's losses in the wake of earnings from Citigroup and other major financial institutions.

In financial stocks news, Citigroup ( C ) reported revenue of $19.6 billion and earnings of $1.15 per share versus a Street consensus of and $19.0 billion in revenue and $1.13 in earnings.

C was up 1.9% at $50.85 with shares trading in a 52-week range of $45.18 to $55.28.

And, J P Morgan Chase & Co ( JPM ) returned to a profit in Q3, posting a gain of $1.36 per share, vs. a year-ago loss of $0.17 per share. Revenue was $24.2 billion, up 5% vs. year ago levels. The analyst consensus on Capital IQ called for earnings of $1.39 per share on revenue of $23.78 billion.

JPM was down 0.5% at $57.90, trading in a 52-week range of $51.30 to $61.85.

Finally, Wells Fargo ( WFC ) reported Q3 revenue of $21.2 billion and earnings of $1.02 per share versus the Street view of $21.2 billion in revenue and $1.02 per share.

WFC was down 0.5% at $49.95 in pre-market trade.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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