Wells Fargo & Company (NYSE:WFC) slid 0.61%
to $24.40 on over 1.94 million shares. The company reported that its
third-quarter net income rose 3.2%, helped by lower credit-loss provisions and continued
strong deposit growth. Net income improved to $3.34 billion or 60 cents a
share, from $3.24 billion, or 56 cents a share, in the year-earlier quarter.
Analysts,
on average, expected the company to report earnings of 55 cents per share on
revenue of $20.95 billion.
The
stock opened at $24.67 and went down more than 8% year-to-date.
Morgan Stanley (NYSE:MS) fell 3.51%
to $24.50. The company said Wednesday that third-quarter net loss applicable to
common shareholders was $91 million, or 7 cents a share, compared with earnings
of $498 million, or 38 cents a share, in the earlier-quarter.
Analysts,
on average, expected the company to report earnings of 15 cents per share on
revenue of $6.44 billion.
The
stock opened at $25.31 and traded within the range of $25.20-$26.06. The stock
went down more than 13% year-to-date.
E TRADE Financial Corporation (NASDAQ:ETFC) gained 0.41%
to $14.55. The company is expected to post third-quarter earnings of 4 cents a
share, according to a FactSet survey.
The
stock went down more than17% year-to-date.
M&T
Bank Corporation (NYSE:MTB) dropped 1.06% to $74.93 on about 1.77 million
shares. The company reported third quarter net income available to common
equity of $179.3 million or $1.48 per share, compared to $115.1 million or
$0.97 per share in the same period a year-ago.
On average, 20 analysts polled by Thomson Reuters expected the
company to report earnings of $1.37 per share. Analysts' estimates typically
exclude special items.
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