NEW YORK ( TheStreet) -- TheStreet's Brittany Umar and Antoine Gara explained why Wells Fargo (WFC - Get Report) initially opened lower after reporting record profits, while JPMorgan Chase (JPM - Get Report) rallied after reporting an unexpected loss. These two banks kicked off the earnings season for financials.Although investors keep expecting earnings to fall at Wells Fargo, the bank continues to beat estimates, notching its 15th consecutive quarter of growth. However, the firm hasn't been able to grow revenue, which Gara thinks should improve as the economy recovers.
[video] Quick Take: A Rocky Start to Bank Earnings
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