Big US banks top estimates but profits fall, Verizon comments on Yahoo breach

Here are some of the stocks the Yahoo Finance team will be tracking for you today:

JPMorgan Chase (JPM) shares were higher in early trading. The nation’s biggest bank by assets handily beat estimates on both its top and bottom lines for the third quarter. Revenue rose 8.4% from a year ago as bond trading revenue surged 48%. JP Morgan also saw strong performance in its consumer lending, commercial banking and asset management businesses.

Wells Fargo (WFC) shares were on the move this morning. Even though the embattled lender delivered earnings and revenue that topped forecasts. Profit fell nearly 4% from a year ago as the bank set aside funds for legal costs related to its sales practices scandal that forced CEO John Stumpf to step down earlier this week. The stock has been hit hard since the sales scandal broke in early September.

Citigroup (C) also posted better than expected third quarter results. However, both earnings and revenue fell from a year ago. A jump in its bond trading and underwriting division was not enough to offset weakness in some of its other businesses.

Yahoo (YHOO), our parent company, is on investors’ watch list. Verizon’s (VZ) attorney said late yesterday that the massive data breach of more than 500 million email accounts could have a “material impact” on the wireless carrier’s decision to buy Yahoo.