Bank earnings live updates: JPMorgan stock falls on rare earnings miss

JUST IN: $JPM falls about 3.5% on a rare earnings miss, posting $5.75 EPS ex-items vs $5.90 expected, as Q3 bank results roll in from JPMorgan, Wells Fargo, Goldman Sachs and Citigroup.

JPMorgan just missed earnings, and JPMorgan almost never misses.

The biggest bank in America posted five dollars seventy five a share once you strip out 658 million in securities losses, against the five ninety Wall Street wanted. The stock dropped about three and a half percent before the open. For context, this bank had beaten estimates in sixteen of its last twenty quarters. A miss here is an event, not a habit.

Wells Fargo had its own wobble, light on revenue but fine on profit, and you can see the branches here, shares down just over one percent. The CEO Charlie Scharf says consumers are still spending and delinquencies are low, which is the polite way of saying don't panic yet.

Goldman and Citi report later this morning, Bank of America and Morgan Stanley tomorrow. When the biggest bank on the street drops a pass, everyone watches who fumbles next.

This is Sara White, reporting for HIT.