Bank of America’s third quarter earnings beat expectations on revenue and on EPS. Read why I sold 33% of my shares shortly after BAC’s release came out.

Bank of America (BAC) reported third-quarter results above analysts' estimates Tuesday morning, as revenue rose year-over-year and profit fell by a smaller amount than expected. The company reported $25.

Bank of America's stock was up 1.4% after third-quarter earnings showed a profit beat that offset a decline in net interest income, and buyers were snapping up its outstanding bonds as spreads narrowed to their tightest levels of the year.