NEW YORK ( TheStreet) -- The earnings parade picks up speed this week with 13 larger banks reporting second-quarter results.The earnings bar has been raised after the strong performance from two "too-big-to-fail" banks, JPMorgan Chase ( JPM) and Wells Fargo ( WFC) as these stocks rallied 6% and 3.25%, respectively, on Friday. I profiled JPMorgan Chase and Wells Fargo a week ago in "Key Earnings Reports This Week", and the pop in JPMorgan Chase's shares was not surprising as the "London Whale" derivatives loss was shy of the $9 billion that some analysts feared. The bank reported a loss of $5.8 billion and said it may increase by another $1.6 billion. The better-than-expected earnings report was helped by the bank's reduction in reserve for losses. This practice has been an underlying theme in earnings from banks over the past several quarters.
Table of ValuEngine Data on Large Banks