BUZZ - US bank stocks: JPMorgan and Goldman Sachs rise, Wells Fargo and Citigroup fall after releasing Q3 earnings.

Updated stock prices and added Citigroup

October 13 - Citigroup C.N

** Driven by robust growth in investment banking, services, and wealth management revenue, the company announced a 40% surge in third-quarter profit, but shares fell 1.1% in premarket trading

** The company's quarterly profit rose (link) to $5.25 billion, or $2.85 per share, compared to $3.8 billion, or $1.86 per share, a year earlier; investment banking revenue rose 9% to $1.35 billion

** As of the previous trading day's close, Citigroup shares have fallen about 13% this year

JPMorgan JPM.N

** The company reported third-quarter profit growth, but the pace of merger and acquisition deals slowed compared to last quarter, shares rose 0.4% in premarket trading

** The bank reported third-quarter earnings per share of $5.57, below the average analyst estimate of $5.85 compiled by London Stock Exchange Group (LSEG), due to a 4% drop in fixed income trading revenue and slower growth in investment banking fees

** As of the previous trading day's close, JPMorgan shares are up about 3.7% year-to-date

Goldman Sachs GS.N

** Shares rose 3.8% in premarket trading

** The bank announced third-quarter profit growth (link), mainly thanks to a 72% surge in equity trading revenue

** Encouraged by market volatility, trading activity soared, equity trading revenue jumped 72% to $6.44 billion; investment banking fee revenue grew 21% to $3.22 billion, offsetting the impact of the overall slowdown in the M&A market

** As of the previous trading day's close, Goldman Sachs shares are up about 1.7% year-to-date

Wells Fargo WFC.N

** The company reported third-quarter (link) profit growth, with shares down1% in premarket trading

** The fourth largest U.S. lender reported net profit of $5.95 billion, or $1.87 per share, compared to $5.59 billion, or $1.66 per share, a year earlier

** Wells Fargo stated that despite uncertainty in the economic outlook, its customers remain in good condition; however, due to investor caution regarding the prospect of further Fed rate hikes for banks, shares declined

** As of the previous trading day's close, the stock is down about 10.6% year-to-date

** Morgan Stanley MS.N and Bank of America MS.N — both companies will report earnings before market open on Wednesday — also saw their stock prices rise

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