Cybersecurity
JPMorgan Swings to Third-Quarter Profit, Misses Estimates
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JPMorgan Chase & Co., the biggest U.S. bank, swung to a profit in the third quarter from a loss a year earlier as debt-trading revenue rose and legal costs narrowed.
The stock dropped 17 cents to $57.99 at 4 p.m. in New York and fell as much as 3.6 percent earlier after $1 billion in legal expenses caused earnings to miss some analysts’ estimates. The money will help cover costs related to an investigation into the manipulation of foreign-exchange rates, Chief Financial Officer Marianne Lake said on a conference call today.