US Banks: BofA and MS rise after Q3 results

Bank of America BAC.N

Shares of BAC up 4.2% in premarket trading after Q3 results

Co reports profit of $8.5 bln, or $1.06 per share, for the quarter ended September 30

Investment banking fees rose 43% to $2 bln in the quarter

"Strong loan and deposit growth, coupled with effective balance sheet positioning, resulted in record net interest income," CEO Brian Moynihan said

BAC shares were up 0.25% ahead of results

As of last close, BAC shares were up ~14% YTD

Morgan Stanley MS.N

Shares of MS up 2.3% in a volatile premarket trading after Q3 results

MS posts Q3 net income of $4.6 bln, or $2.80 per share, for the three months ended September 30

Total revenue was a record $18.2 billion in qtr

Co's investment banking revenue rose to $2.11 billion in the quarter

MS shares were up 1.7% ahead of results

As of last close, MS was up ~23.6% YTD