JPMorgan Chase, Citigroup profits up; Wells Fargo flat

Strong trading results in the first quarter drove profits higher at JPMorgan Chase and Citigroup, which also got a boost from a decline in funds set aside for bad energy loans, the banks reported Thursday."The momentum we saw across many of our businesses towards the end of last year carried into the first quarter, resulting in significantly better overall performance than a year ago," Citigroup chief executive Michael Corbat said.