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May 25, 2012
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| 12:13 EDT |  | BAC |
| theflyonthewall.com: | Stocks with call strike movement; CHK BAC | | Chesapeake (CHK) October 21 call volatility decreased 4%, Bank of America (BAC) August 8 call volatility decreased 2% according to iVolatility. :theflyonthewall.com |
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| 09:47 EDT |  | C |
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| 09:42 EDT | | BAC, C |
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| 07:44 EDT | | JPM |
| theflyonthewall.com: | JPMorgan pays high price to keep NYC branch in long time home, NY Post says | | JPMorgan Chase (JPM) paid an above market price of $87M for the 45,000 square foot office building at 525 Broadway to ensure it can keep its own bank branch in the building, where Chase or its predecessors have had a branch located since 1919, reported The New York Port. Reference Link :theflyonthewall.com |
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| 07:36 EDT | | WFC |
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| 07:05 EDT | | BAC, USB, C, WFC, JPM |
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| 06:26 EDT | | JPM, BAC |
| theflyonthewall.com: | Options Update; May 25, 2012 | | CBOE Volatility Index-VIX down 28c to 22.05. Option volume leaders: HPQ BAC JPM AAPL according to Track Data. :theflyonthewall.com |
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| 06:15 EDT | | JPM |
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| 06:14 EDT | | WFC, USB, C, JPM, BAC |
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| 06:13 EDT |  | BAC |
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| 06:09 EDT | | JPM |
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| 06:02 EDT | | BAC |
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| 06:01 EDT | | BAC |
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| 05:18 EDT | | C |
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May 24, 2012
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| 23:50 EDT | | JPM, C |
| theflyonthewall.com: | Jim Cramer's "Mad Money" | | According to Jim Cramer, markets appear rigged, and the only losers appear to be the shareholders. Cramer questions....Was the Facebook (FB) IPO fair? With news that Morgan Stanley (MS) may have alerted some of its biggest customers about slowing growth at the company, it appears not. Were investors at J.P. Morgan Chase (JPM) misled by CEO Jamie Dimon, who repeatedly said things were going great even though the company was in the process of losing $5B? It appears so, Cramer says. Cramer said it gets even worse: Both Morgan Stanley and J.P. Morgan will use shareholder money to investigate and defend themselves against any wrongdoing -- and to pay the fines, too. Cramer said companies get away with stunts like this because the system is broken and Washington isn't doing anything to fix it. Cramer said the bad apples on Wall Street must pay for their actions, and that will only happen if the government starts targeting them directly. Next, Cramer wasn't done with suggestions for J.C. Penney (JCP) CEO Ron Johnson on how to revive the ailing retailer. After comparing J.C. Penney's turnaround attempt to that of Pier 1 Imports (PIR) on Monday, Cramer then compared Penney to the turnaround in Chico's FAS (CHS). Chico's reshuffled its merchandise and took the rare step of raising prices in order to attract its core, older customers while shunning a younger demographic. This strategy worked. Chico's reported a 21% pop in yoy revenue with a 9.6% increase in same store sales. Cramer concluded. J.C. Penney needs to stop pandering to Wall Street and get to work on the almost impossible task of a retail turnaround. Investors need to play defense with their portfolios, Cramer told viewers. That means high-quality domestic companies with no exposure to the trials and tribulations of Europe and a juicy dividend yield. B&G Foods (BGS) is one such company. It has the unique talent of being able to reinvigorate brands. In an environment where commodity costs are falling, Cramer said that B&G, with its excellent balance sheet and great gross margins, is in a terrific position to surprise Wall Street. Shares trade at just 15x earnings and the company has a 12% long-term growth rate. SELL BLOCK: Cramer highlighted several stocks that investors need to avoid at all costs. Best Buy (BBY) has a broken business model. First Solar (FSLR) government subsidies are drying up quick. Cramer also put three stocks in the penalty box, saying investors need to wait at least one quarter before pulling the trigger. He said Mako Surgical (MAKO) stumbled in its last quarter, so he needs to see whether bigger problems exist. The same applies to Deckers Outdoor (DECK) where the company's Ugg boots may or may not be making a comeback. Finally, Cramer thinks Fossil (FOSL), which is levered to Europe, is another wait-and-see situation. In a special interview, Cramer sat down with CNBC colleague David Faber to discuss Faber's latest documentary on J. Crew (JCG) CEO Millard Drexler, which debuts Thursday evening. Faber said Drexler, while unknown to many, is one of the greatest retailers of our generation. He said Drexler's work turning around Gap (GPS) would have been noteworthy enough, but Drexler has continued to innovate and succeed in the cut-throat retail world. LIGHTNING ROUND: (Bullish) V; KOG ; EA. (Bearish) GLW; FB; TVIX; GME; C. Reference Link :theflyonthewall.com |
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| 15:11 EDT | | C |
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| 12:37 EDT | | C |
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| 12:28 EDT | | C |
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| 11:08 EDT | | C |
| theflyonthewall.com: | Citigroup to sell stake in Akbank worth about $1.27B, Bloomberg reports | | :theflyonthewall.com |
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| 09:41 EDT | | BAC |
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| 08:57 EDT |  | C |
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| 07:51 EDT | | BAC |
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| 07:29 EDT | | USB, TCB |
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| 07:08 EDT | | JPM |
| theflyonthewall.com: | Manufacturers complain to SEC about JP Morgan copper ETF plan, FT says | | U.S. manufacturers sent a letter to the Securities and Exchange Commission stating that a planned exchange-traded fund backed by physical copper from JP Morgan (JPM) could “grossly and artificially inflate prices” and “wreak havoc on the US and global economy,” reported Financial Times. Reference Link :theflyonthewall.com |
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| 06:16 EDT | | RF |
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May 23, 2012
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| 16:02 EDT | | BAC |
| theflyonthewall.com: | Options Update; May 23, 2012 | | CBOE Volatility Index-VIX down 10c to 22.39. Option volume leaders today: INTC BAC MSFT DELL AAPL according to Track Data. :theflyonthewall.com |
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| 15:06 EDT | | USB, C, JPM, BAC, WFC |
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| 09:41 EDT | | BAC |
| theflyonthewall.com: | Active equity option families in first 10-minutes | | Active equity option families in first 10-minutes of trading according to Track Data are: AAPL DELL BAC F. :theflyonthewall.com |
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| 09:41 EDT | | JPM |
| theflyonthewall.com: | JPMorgan says Joseph A. Walker to rejoin as vice chairman of investment banking |
 Subscribe for More Information :theflyonthewall.com |
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| 09:29 EDT | | BAC, USB, C, WFC, JPM |
| theflyonthewall.com: | Facebook, banks sued by shareholders, Reuters says | | A group of Facebook (FB) shareholders have filed a lawsuit against the social networking giant, its CEO Mark Zuckerberg, and several banks led by Morgan Stanley (MS), according to Reuters. The plaintiffs are alleging that the defendants hid Facebook's reduced growth outlook ahead of the IPO, the news service explains. Reference Link :theflyonthewall.com |
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| 08:40 EDT | | BAC |
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| 07:30 EDT | | C, WFC |
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| 07:22 EDT | | WFC, C, JPM, BAC, USB |
| theflyonthewall.com: | CFTC probing JP Morgan's losses, Washington Post reports | | The Commodity Futures Trading Commission, or CFTC, is probing JP Morgan's (JPM) recent investment losses, the commission's chairman, Gary Gensler, said yesterday, according to The Washington Post. Gensler said that the losses "strongly suggest" that foreign affiliates of U.S. financial firms shouldn't be exempted from new derivative regulations, the newspaper added. Reference Link :theflyonthewall.com |
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| 07:22 EDT | | WFC, BAC, JPM, C, USB |
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| 06:27 EDT | | RF, USB, JPM |
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| 06:22 EDT | | JPM |
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| 06:16 EDT | | JPM |
| theflyonthewall.com: | Zames in "strong position" to eventually succeed JPMorgan's Dimon, FT reports |
Subscribe for More Information :theflyonthewall.com |
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| 05:41 EDT |  | JPM |
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May 22, 2012
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| 16:00 EDT | | BAC, JPM |
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| 13:44 EDT | | JPM |
| theflyonthewall.com: | JPMorgan said to retain William McLucas for CIO investigations, Bloomberg says |
Subscribe for More Information :theflyonthewall.com |
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| 13:15 EDT | | JPM |
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| 13:15 EDT | | JPM |
| theflyonthewall.com: | Owner of Getty Images considering sale, IPO, FT reports | | Hellman & Friedman, the private-equity fund owner of Getty Images, is working with Goldman Sachs (GS) and JP Morgan (JPM) to examine a possible sale or IPO of the business which was taken private four years ago, the Financial Times reports. Five people familiar with the plans say a sale or public offering could value the business at up to $4B. Getty may draw takeover interest from private equity funds, potentially KKR (KKR), one person says. Reference Link :theflyonthewall.com |
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| 11:50 EDT | | JPM |
| theflyonthewall.com: | SEC probing appropriateness, completeness of JPMorgan reporting, Reuters says |
Subscribe for More Information :theflyonthewall.com |
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| 11:08 EDT | | RF |
| theflyonthewall.com: | Regions Financial maintained Buy at Rochdale | | Rochdale analyst Dick Bove maintained a Buy rating and $9.50 price target on shares of Regions Financial. The move higher in the stock is being attributed to an upgrade from Bove, but the rating change took place on April 24, not today. :theflyonthewall.com |
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| 10:37 EDT |  | C |
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| 10:17 EDT | | JPM |
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| 09:41 EDT | | JPM |
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| 09:06 EDT | | C |
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| 09:01 EDT | | WFC |
| theflyonthewall.com: | Wells Fargo targeting payout ratio 50%-65% after reaching target cap. structure | | Says targeting a total payout ratio of 50%-65% after it reaches its target capital structure. Comments from slides that will be presented at the company's 2012 Investor Day. :theflyonthewall.com |
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| 08:13 EDT | | JPM |
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| 07:57 EDT | | JPM |
| theflyonthewall.com: | JPMorgan price target cut to $50 from $55 at Credit Suisse | | Credit Suisse lowered JPMorgan estimates following news that the share buyback has been placed on hold. Shares remain Outperform rated. :theflyonthewall.com |
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| 07:56 EDT | | WFC |
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| 07:47 EDT | | WFC, BAC, JPM, C |
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| 07:47 EDT | | JPM |
| theflyonthewall.com: | JPMorgan price target lowered to $46 from $54 at UBS | | UBS reduced JPMorgan estimates citing the suspension of the stock buyback program but said valuation remains compelling. Shares are Buy rated. :theflyonthewall.com |
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| 07:45 EDT | | JPM, BAC, C |
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| 07:43 EDT | | BBT |
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| 07:40 EDT | | PNC |
| theflyonthewall.com: | PNC Financial weakness creates buying opportunity, says RBC Capital | | After meeting with PNC's management, RBC Capital believes that the bank's outlook is still strong. The firm also thinks that the bank is undervalued compared with its peers and that the recent sell-off in bank stocks creates a buying opportunity. The firm maintains a Top Pick rating on PNC. :theflyonthewall.com |
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| 07:28 EDT | | JPM |
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| 07:24 EDT | | JPM |
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| 07:15 EDT | | C, BAC, WFC, USB, JPM |
| theflyonthewall.com: | U.S allows China to go around Wall Street to buy government debt, Reuters says | | China can now bypass Wall Street when buying U.S. government debt and go directly to the U.S. Treasury, in what is the Treasury's first direct relationship with a foreign government, according to documents seen by Reuters. Reference Link :theflyonthewall.com |
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| 07:10 EDT | | BAC |
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| 07:09 EDT | | JPM, BAC |
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| 06:54 EDT | | BAC, USB, JPM, C, WFC |
| theflyonthewall.com: | NY regulators investigating mortgage insurers' payments to banks, NY Times says | | New York State regulators are probing whether two insurance companies- Assurant (AIZ) and QBE Insurance - made improper payments to banks in order to obtain a dominant position in a type of mortgage insurance called force-placed insurance, according to The New York Times. Reference Link :theflyonthewall.com |
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| 06:48 EDT | | BAC |
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| 06:15 EDT | | BAC, JPM |
| theflyonthewall.com: | On the Fly: Periodicals Wrap-Up | | WALL STREET JOURNAL: JPMorgan Chase's (JPM) recent trading mistakes are becoming a boon for some of its major competitors, including Goldman Sachs (GS) and Bank of America (BAC), who have scored profits that could total $500M-$1B on trades that sometimes put them directly against J.P. Morgan's chief investment office, sources say, the Wall Street Journal reports...The Organization for Economic Cooperation and Development today cut its forecasts for growth across the euro zone for this year and next, and warned that the area's debt crisis could pull it into a downward spiral without the right policy action, the Wall Street Journal reports...REUTERS: China can now bypass Wall Street when buying U.S. government debt and go directly to the U.S. Treasury, in what is the Treasury's first direct relationship with a foreign government, according to documents seen by Reuters...Just before Facebook's (FB) $16B IPO, Morgan Stanley (MS), the deal's lead underwriter, unexpectedly delivered negative news to major clients: The bank's consumer Internet analyst, Scott Devitt, was reducing his revenue forecasts for the company, Reuters reports...BLOOMBERG: The types of derivative swaps said to have led to a loss of at least $2B at JPMorgan Chase (JPM) may be the first for which the U.S. Commodity Futures Trading Commission would require guarantees by clearinghouses under the Dodd-Frank Act, according to the CFTC chairman Gary Gensler, Bloomberg reports...Metlife (MET) may target annuities and U.S. retail life insurance for cost cuts as CEO Kandarian unveils his plan to improve returns, Bloomberg reports. :theflyonthewall.com |
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| 04:48 EDT | | JPM |
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May 21, 2012
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| 16:16 EDT |  | JPM |
| theflyonthewall.com: | On The Fly: Closing Wrap | | Stocks on Wall Street were higher in spite of Facebook (FB) breaking its IPO pricing. Stock futures were higher throughout the premarket trading session as the market got ready to bounce from its two week tailspin. There was little reaction to the better than expected Chicago Fed National Activity Index but the futures action led to a higher open for the broader market. The averages began the day slightly higher but moved firmly into the green shortly after midmorning. The market then moved in a narrow range for most of the session, but with an upward trend, as the market finally broke its losing streak... ECONOMIC EVENTS: Domestically, the Chicago Fed National Activity Index rose to +0.11 for the month of April from -0.29 in March... COMPANY NEWS: Facebook shares fell below their $38 issue price in premarket trading and continued to slide as much as 13.7% before finding a level near $33. In its second day of trading the stock closed down $4.20, or 10.99%, at $34.03... Yahoo! (YHOO) agreed to sell half of its 40% stake in Chinese e-commerce group Alibaba for about $7.1B and laid out a joint agreement for a plan to dispose of the remainder of its stake over time. Yahoo did not give exact plans for what it will do with the proceeds, expected to be about $4.2B after taxes, but did increase its share repurchase authorization by $5B concurrently with the transaction... JP Morgan (JPM) slid close to another 3% as the company's CEO Jamie Dimon announced at an investor conference that the bank is suspending its share repurchase program for the time being as it works to strengthen its capitalization ahead of new regulations... MAJOR MOVERS: Among the notable gainers were Cooper Industries (CBE), up $14.04, or 25.14%, to $69.88, after agreeing to be acquired by Eaton Corporation (ETN) in a cash and stock deal valued at $72.00 per share, and Krispy Kreme (KKD), up 61c, or 10.15%, to $6.62, following its report of better than expected earnings. Also higher were shares of Westport Innovations (WPRT), up $2.83, or 11.93%, to $26.56, as Craig-Hallum said in a note to investors that the firm sees more catalysts heading into Westport's analyst day later this week and continues to recommend the stock as the shift towards natural gas in trucking is hitting a tipping point. Noteworthy losers included Lowe's (LOW), down $2.88, or 10.11%, to $25.60, after its sales and profits beat estimates but its yearly earnings guidance came in below consensus, and BlackRock (BLK), down $4.18, or 2.43%, to $167.73, as Barclays (BCS) announced plans to sell its entire 19.6% stake in the alternative investment manager... INDICES: The Dow gained 135.10, or 1.09%, to 12,504.48; the Nasdaq rose 68.42, or 2.46%, to 2,847.21; and the S&P 500 added 20.77, or 1.60%, to 1,315.99. :theflyonthewall.com |
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| 16:15 EDT | | BAC |
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| 16:07 EDT | | BAC, C |
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| 14:55 EDT | | BAC |
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| 14:37 EDT | | BAC |
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| 13:20 EDT |  | JPM |
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| 10:34 EDT | | BAC, JPM, C |
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| 10:02 EDT | | JPM |
| theflyonthewall.com: | JPMorgan's Dimon: Greek default not the problem, Greece leaving euro is problem |
Subscribe for More Information :theflyonthewall.com |
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| 09:57 EDT | | JPM |
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| 09:56 EDT | | JPM |
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| 09:51 EDT | | JPM |
| theflyonthewall.com: | Dimon says main issue with Volcker rule is it makes U.S. banks unable to compete |
Subscribe for More Information :theflyonthewall.com |
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| 09:46 EDT | | JPM |
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| 09:44 EDT | | BAC, C |
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| 09:40 EDT | | JPM |
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| 09:39 EDT | | JPM |
| theflyonthewall.com: | JPMorgan's Dimon doesn't see investigation into trading unveiling big surprises |
Subscribe for More Information :theflyonthewall.com |
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| 09:37 EDT | | JPM |
| theflyonthewall.com: | Dimon says company "obviously made mistake," sees incident as "isolated" | | Says all JPMorgan businesses seem to be gaining share. :theflyonthewall.com |
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| 09:35 EDT | | JPM |
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| 09:34 EDT | | JPM |
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| 09:33 EDT |  | FHN |
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| 08:10 EDT | | BAC |
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| 07:50 EDT | | JPM |
| theflyonthewall.com: | Pier 1 Imports recent weakness creates buying opportunity, says Wells Fargo | | Wells Fargo believes that the switch of Pier 1's (PIR) private label credit card to Alliance Data Systems (ADS) from Chase (JPM) and the launch of Pier 1's full e-commerce website in July could generate 20c-30c in additional EPS over time. The firm reiterates an Outperform rating on the stock. :theflyonthewall.com |
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| 07:32 EDT | | USB, C, WFC, JPM, BAC |
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| 07:18 EDT | | RF, JPM |
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| 07:11 EDT | | JPM |
| theflyonthewall.com: | JPMorgan chief risk officer had earlier losses in same unit, WSJ reports | | Irvin Goldman, the JPMorgan (JPM) chief risk officer who oversaw risk management at the unit responsible for trading mistakes that cost the bank at least $2B this year, earlier lost millions while trading for the same unit, sources say, reports the Wall Street Journal. Reference Link :theflyonthewall.com |
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| 07:09 EDT | | C, WFC, JPM, BAC, USB |
| theflyonthewall.com: | Investors can't get enough of U.S. Treasurys, WSJ reports | | Investors in U.S. Treasurys have a good chance of losing money over time, yet they can't seem to get enough of them as Treasury prices move higher and yields fall to near-record lows, reports the Wall Street Journal.Reference Link :theflyonthewall.com |
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| 06:55 EDT | | JPM |
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| 06:31 EDT | | BAC |
| theflyonthewall.com: | Bank of America downgraded to Underperform from Market Perform at JMP Securities |
Subscribe for More Information :theflyonthewall.com |
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| 06:31 EDT | | C |
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| 06:31 EDT | | JPM |
| theflyonthewall.com: | JPMorgan downgraded to Underperform from Market Perform at JMP Securities | | JMP Securities expects bulge-bracket firms earnings to fall significantly in 2012 due to the increasingly risky situation in Europe. As a result, the firm downgraded Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JP Morgan (JPM), and Morgan Stanley to Underperform. :theflyonthewall.com |
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| 06:18 EDT | | JPM |
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| 05:44 EDT | | JPM |
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May 20, 2012
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| 17:31 EDT | | JPM |
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| 10:23 EDT | | JPM |
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May 18, 2012
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| 16:02 EDT | | C, BAC, JPM |
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| 15:45 EDT | | JPM |
| theflyonthewall.com: | MF Global trustee says JPMorgan returns about $168M in cash, Bloomberg reports |
Subscribe for More Information :theflyonthewall.com |
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| 15:31 EDT | | C |
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| 10:31 EDT | | JPM |
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| 09:41 EDT | | JPM, BAC |
| theflyonthewall.com: | Active equity option families in first 10-minutes | | Active equity option families in first 10-minutes of trading according to Track Data are: AAPL JPM BAC INTC. :theflyonthewall.com |
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| 07:19 EDT | | BAC, C, USB, WFC, JPM |
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| 06:53 EDT | | BBT |
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| 06:39 EDT | | JPM |
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May 17, 2012
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| 16:13 EDT | | BAC, JPM, C |
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| 15:56 EDT | | JPM |
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| 15:19 EDT | | JPM |
| theflyonthewall.com: | JP Morgan CEO to be called to testify before senate banking committee, WSJ says | | :theflyonthewall.com |
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| 14:12 EDT | | C, WFC, BAC, USB, JPM |
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| 12:29 EDT | | BAC |
| theflyonthewall.com: | Stocks with call strike movement; CHK BAC | | Chesapeake (CHK) June 15 call volatility decreased 2%, Bank of America (BAC) June 12 call volatility increased 7% according to iVolatility. :theflyonthewall.com |
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| 09:40 EDT | | BAC, JPM |
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| 08:49 EDT | | KEY |
| theflyonthewall.com: | KeyCorp board raises quarterly cash dividend from 3c to 5c per common share | | KeyCorp announced that its board declared a quarterly cash dividend of 5c per share on the company's common stock, up from 3c in the previous quarter. The dividend was declared on May 16, and is payable on June 15 to shareholders of record at the close of business on May 29. :theflyonthewall.com |
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| 08:03 EDT | | WFC |
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| 07:46 EDT | | FITB |
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| 07:22 EDT | | BAC |
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| 07:19 EDT | | JPM, WFC, C, USB, BAC |
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| 07:14 EDT | | WFC |
| theflyonthewall.com: | Many firms stop selling Facebook shares ahead of IPO, Reuters reports | | Investors who want Facebook (FB) shares may have lost the opportunity as several firms including TD Ameritrade (AMTD), Fidelity's brokerage arm, Morgan Stanley (MS), E*Trade Financial (ETFC) and Wells Fargo (WFC) Advisors stopped accepting orders Tuesday evening, reports Reuters. Reference Link :theflyonthewall.com |
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| 07:09 EDT | | USB, JPM, C, WFC, BAC |
| theflyonthewall.com: | White House seeks to toughen bank rules, WSJ reports | | Following the losses at J.P. Morgan Chase (JPM), the White House is seeking to ensure a tough interpretation of a regulation designed to prevent banks from making bets with their own money, sources say, reports the Wall Street Journal. Reference Link :theflyonthewall.com |
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| 07:00 EDT | | WFC, USB, JPM, C, BAC |
| theflyonthewall.com: | Fitch: World's largest banks must raise $566B, NY Times says | | The world's 29 systemically important banks must raise a combined $566B in order to meet new capital requirements, Fitch Ratings said today, according to The New York Times. The figure represents a 23% increase over what the banks currently hold in reserve, the newspaper added. Reference Link :theflyonthewall.com |
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| 07:00 EDT | | BBT |
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| 06:52 EDT | | JPM |
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| 06:38 EDT | | WFC, JPM, BAC, USB, C |
| theflyonthewall.com: | U.S. foreclosure filings fall to five year low, Bloomberg reports | | In April, foreclosure filings in the U.S. fell to a five year low as lenders sought to avoid seizing property and a housing recovery showed signs of taking hold, reports Bloomberg. The number of default, auction and seizure notices sent to homeowners last month was 188,780, down 14% from a year ago and 5% from March, according to RealtyTrac Inc. Reference Link :theflyonthewall.com |
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| 06:25 EDT | | BAC, JPM |
| theflyonthewall.com: | Coty selects BofA Merrill, JPMorgan as underwriters for IPO, WSJ reports | | Coty has picked Bank of America Merrill Lynch (BAC) and JPMorgan Chase (JPM) as the lead underwriters for an IPO, likely this summer or in early fall, reports the Wall Street Journal. The IPO plan follows Coty's decision to walk away from its offer for Avon (AVP). Reference Link :theflyonthewall.com |
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| 06:23 EDT | | BAC |
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| 06:23 EDT | | BAC |
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| 06:15 EDT | | JPM, WFC |
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| 06:04 EDT | | C, WFC, BAC, JPM, USB |
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| 00:23 EDT | | BAC |
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May 16, 2012
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| 16:16 EDT | | BAC |
| theflyonthewall.com: | Options Update; May 16, 2012 | | CBOE Volatility Index-VIX up 30c to 22.27. Option volume leaders today: MSFT BAC FCX AAPL according to Track Data. :theflyonthewall.com |
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| 15:16 EDT | | JPM, BAC, WFC, USB, C |
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| 13:52 EDT | | JPM |
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| 13:52 EDT | | JPM |
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| 13:42 EDT | | JPM |
| theflyonthewall.com: | JPMorgan earnings impact from trading loss manageable, says Deutsche Bank | | Deutsche Bank believes the impact to JPMorgan's earnings from its trading loss will be manageable, but cautions the regulatory fallout is hard to handicap. The firm maintains a Buy rating on JPMorgan shares with a $50 price target. :theflyonthewall.com |
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| 13:39 EDT | | JPM |
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| 13:19 EDT | | JPM |
| theflyonthewall.com: | JPMorgan trader Bruno Iksil leaving bank after loss, NY Times reports | | The JPMorgan (JPM) trader known as the London Whale, Bruno Iksil, is leaving the bank following the company's $2B trading loss, the New York Times reports, citing current and former traders who worked with him. Reference Link :theflyonthewall.com |
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| 12:42 EDT | | JPM |
| theflyonthewall.com: | FBI Director Mueller confirms JPMorgan probe, Reuters says | | Robert Mueller, Director of the FBI, confirms opening of JPMorgan (JPM) probe, says Reuters. Reference Link :theflyonthewall.com |
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| 12:32 EDT | | WFC |
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| 10:25 EDT | | BAC |
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| 09:40 EDT | | BAC |
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| 07:19 EDT | | BBT |
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| 07:15 EDT | | JPM |
| theflyonthewall.com: | JPMorgan trades weren't monitored by Comptroller of the Currency, Bloomberg says | | JPMorgan Chase's (JPM) individual trades that led to a $2B loss weren’t monitored by the Office of the Comptroller of the Currency, which said it didn’t expect to be notified about the positions, reports Bloomberg.Reference Link :theflyonthewall.com |
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| 07:02 EDT | | WFC |
| theflyonthewall.com: | Wells Fargo expands insurance trust program to the UK and EU | | Wells Fargo has introduced, through its Wells Fargo Bank subsidiary, its insurance trust product in the United Kingdom and the EU. The Wells Fargo UK Insurance Trust offers an alternative to Letters of Credit specifically used as collateral for UK- and EU-based corporate insurance programs. :theflyonthewall.com |
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| 06:53 EDT | | JPM |
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| 06:43 EDT | | HBAN |
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| 06:30 EDT | | JPM |
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| 06:15 EDT | | JPM |
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| 06:13 EDT | | C |
| theflyonthewall.com: | FieldPoint Petroleum increases borrowing base from Citibank to $11.0M | | FieldPoint Petroleum's (FPP) borrowing base available to the company under its bank line of credit has been increased to $11.0M. This increase was approved following a routine year-end engineering review of the line by Citibank (C). :theflyonthewall.com |
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| 04:45 EDT | | JPM |
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May 15, 2012
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| 17:29 EDT | | BAC |
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| 16:56 EDT | | WFC |
| theflyonthewall.com: | Soros reports decreased stakes in InterOil, Motorola, Medicines Co, Wells Fargo |
Subscribe for More Information :theflyonthewall.com |
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| 16:53 EDT | | KEY |
| theflyonthewall.com: | Soros liquidates stake in Google, YPF SA, KeyCorp, Delta Air Lines | | :theflyonthewall.com |
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| 16:52 EDT | | STI |
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| 16:29 EDT | | WFC |
| theflyonthewall.com: | Berkshire Hathaway reports increased stakes in Wal-Mart, Wells Fargo, DirecTV |
Subscribe for More Information :theflyonthewall.com |
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| 16:03 EDT | | BAC, JPM |
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| 15:23 EDT | | C |
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| 15:21 EDT | | C |
| theflyonthewall.com: | Citigroup April credit-card write-offs 5.93% vs. 4.79% last month | | :theflyonthewall.com |
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| 14:25 EDT | | BAC |
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| 14:24 EDT | | BAC |
| theflyonthewall.com: | Bank of America April net charge-offs 5.69% vs. 5.48% last month | | :theflyonthewall.com |
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| 11:35 EDT | | JPM |
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| 11:22 EDT | | JPM |
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| 11:22 EDT | | JPM |
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| 11:04 EDT | | JPM |
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| 10:44 EDT | | JPM |
| theflyonthewall.com: | Calpers, proxy firms want JPMorgan to split CEO, chairman roles, Reuters says |
Subscribe for More Information :theflyonthewall.com |
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| 10:40 EDT | | JPM |
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| 10:39 EDT | | JPM |
| theflyonthewall.com: | JPMorgan says mortgage losses continue to effect earnings | | :theflyonthewall.com |
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| 10:35 EDT | | JPM |
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| 10:30 EDT | | HBAN |
| theflyonthewall.com: | Huntington Bancshares mentioned positively at Credit Suisse | | Credit Suisse said Huntington Bancshares' commercial and industrial loan portfolio is improving and they are taking share in key markets. :theflyonthewall.com |
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| 10:11 EDT | | USB |
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| 09:44 EDT | | BAC |
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| 09:44 EDT | | JPM |
| theflyonthewall.com: | JPMorgan April card delinquencies 2.21% vs. 2.34% last month | | :theflyonthewall.com |
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| 09:42 EDT | | JPM |
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| 07:48 EDT | | JPM |
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| 07:16 EDT | | C |
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| 07:13 EDT | | JPM, C, USB, WFC, BAC |
| theflyonthewall.com: | President Obama: Wall Street needs reform, Reuters reports | | President Obama said the trading loss at JPMorgan Chase & Co. (JPM) illustrated the need for Wall Street reform and warned that the same kind of error at a less stable bank may have required government intervention, reports Reuters. Reference Link :theflyonthewall.com |
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| 07:13 EDT | | KEY, BBT |
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| 06:54 EDT | | JPM |
| theflyonthewall.com: | JPMorgan bosses ignored warnings about trades, NY Times reports | | Some senior investment bankers and risk managers at JPMorgan (JPM) said they warned in recent years that the bank was making increasingly large and very complex trades, according to The New York Times. However, the bank's upper management, including CEO Jamie Dimon, backed such trades and thus ignored the warnings, the newspaper explained. Reference Link :theflyonthewall.com |
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| 06:47 EDT | | JPM |
| theflyonthewall.com: | JPMorgan considers claw back of bonuses after $2B loss, Bloomberg reports | | JPMorgan Chase & Co. (JPM) will consider reclaiming incentive pay from employees including former Chief Investment Officer Ina Drew after her unit had a $2B trading loss, two senior executives say, reports Bloomberg Reference Link :theflyonthewall.com |
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| 06:30 EDT | | BAC |
| theflyonthewall.com: | Judge won't delay Bank of America, Merrill Lynch case, Reuters reports | | In New York, U.S. District Judge Kevin Castel refused to delay the approval process for a controversial $20M settlement between Bank of America Corp. (BAC) directors and shareholders who accused the bank of overpaying for Merrill Lynch & Co., reports Reuters. Reference Link :theflyonthewall.com |
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| 06:14 EDT | | JPM |
| theflyonthewall.com: | JPMorgan CEO Dimon to meet shareholders today, CNNMoney says | | JPMorgan (JPM) CEO Jamie Dimon will go before shareholders at its annual meeting today following the disclosure of a $2B trading loss, reports CNNMoney. The shareholders will vote on proposals that include investments in Sudan and executive compensation. Reference Link :theflyonthewall.com |
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| 06:10 EDT | | JPM |
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| 06:09 EDT | | JPM |
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| 05:03 EDT | | JPM |
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May 14, 2012
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| 16:41 EDT | | C |
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| 16:06 EDT | | JPM, BAC |
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| 15:24 EDT | | JPM |
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| 15:23 EDT | | WFC |
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| 14:14 EDT | | JPM |
| theflyonthewall.com: | Large investor group calls for overhaul of JPMorgan's risk committee, WSJ says |
Subscribe for More Information :theflyonthewall.com |
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| 14:12 EDT | | JPM |
| theflyonthewall.com: | JPMorgan to further shake up Chief Investment Office, CNBC reports | | :theflyonthewall.com |
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| 14:03 EDT | | JPM |
| theflyonthewall.com: | JPMorgan upgraded to Buy from Hold at Standpoint Research | | Price target is $43. :theflyonthewall.com |
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| 12:18 EDT | | JPM |
| theflyonthewall.com: | On The Fly: Midday Wrap | | Stocks on Wall Street were lower at midday, as investors worried about Europe and China. Stocks began the day sharply lower on the heels of a sell off in the European markets. The weakness overseas was attributed to concern over Greece’s inability to form a coalition government, putting its continued participation in the euro zone in greater doubt. The weakness spread to the U.S., where the financial sector remains in turmoil following JP Morgan’s (JPM) trading loss. The market opened lower but the selling intensified before finding a level where it began to recapture some of its losses. The market has essentially drifted off its lows to cut its losses in half... ECONOMIC EVENTS: In the U.S., there was little on the economic calendar to distract investors from worries about Europe and China. In Europe, the yields on 10-year Greek, Spanish and Italian bonds all climbed while German bond yields declined to historically low levels as fear continues to mount about the potential exit of Greece from the euro currency. Stock markets across Europe plunged as well. In China, the central bank took action over the weekend to stimulate slowing growth, as it announced plans to cut its bank reserve requirement by 0.5 percentage points the day after economic readings showed inflation, industrial production growth, spending and lending had all slowed... COMPANY NEWS: Yahoo! (YHOO) shares gained almost 3% after its CEO Scott Thompson relented to pressure and stepped down following a firestorm over a computer science degree he never received. The company also reached a deal with activist shareholder Dan Loeb of Third Point, who had initially disclosed Thompson's resume problems, as the company agreed to allow Loeb and two other Third Point nominees to join its board... Another recently embattled company, Chesapeake Energy (CHK), jumped 7% after the company said it had arranged for a $3B unsecured loan to aid its financial flexibility as it continues to sell off assets. Also, the Wall Street Journal reported that activist investor Carl Icahn will likely reveal he once again has increased his stake in Chesapeake, and the company said on its call to discuss its financing that it "wouldn't be surprised" if Icahn becomes a large shareholder... JPMorgan Chase (JPM) continues to deal with the fallout of its $2B trading loss, as the bank announced that its Chief Investment Officer Ina Drew will retire, to be replaced by Matt Zames, and the bank's stock fell another 2%... Best Buy (BBY) Chairman Richard Schulze will step down when his term ends after the company's investigation into its former CEO Brian Dunn found that Dunn violated policy by engaging in an inappropriate personal relationship with a female employee and Schulze failed to bring the matter to the board's audit committee when he first learned of the allegations... MAJOR MOVERS: Among the notable gainers were Golfsmith (GOLF), up 28%, after agreeing to be acquired by Canada's Golf Town for $6.10 per share in cash, and Citizens South Banking (CSBC), up 24%, following its announcement that it will merge with Park Sterling Corporation (PSTB). Also higher were shares of Avon (AVP), up more than 4%, after the company responded to the latest $24.75 per share buyout offer from Coty, but asked for another week to make a decision on the bid... Noteworthy losers included Ancestry.com (ACOM), down 13%, following NBC's decision not to renew the TV show "Who Do You Think You Are?", and InterOil (IOC), down 9%, after the company got notice from Papua New Guinea of the state's intention to cancel an LNG project agreement... INDICES: Near noon, the Dow was down 82.07, or 0.64%, to 12,738.53; the Nasdaq was down 16.01, or 0.55%, to 2,917.81; and the S&P 500 was down 9.14, or 0.68%, to 1,344.25. :theflyonthewall.com |
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| 11:05 EDT | | C, USB, WFC, JPM, BAC |
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| 10:46 EDT | | JPM |
| theflyonthewall.com: | White House says cannot go into detail about JPMorgan situation, Reuters reports | | The White House says it cannot go into detail about the situation because of the SEC investigation, but says the large trading losses reinforces the need to fully implement Wall Street reform, Reuters reports. :theflyonthewall.com |
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| 09:43 EDT | | JPM |
| theflyonthewall.com: | JPMorgan gaps open on downside, support is at $34.99 | | :theflyonthewall.com |
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| 09:42 EDT | | WFC, JPM |
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| 09:28 EDT | | ZION |
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| 09:06 EDT | | JPM |
| theflyonthewall.com: | JPMorgan says Ina Drew to retire, will be succeeded by Matt Zames | | JPMorgan Chase says Ina Drew, Chief Investment Officer, has made the decision to retire from the firm. Ina has served the firm for more than 30 years, most recently as head of our Chief Investment Office. Matt Zames, currently co-head of Global Fixed Income in the Investment Bank and head of Capital Markets within the Mortgage Bank, will succeed Ina as the firm’s Chief Investment Officer and continue in his mortgage-related responsibilities. Daniel Pinto, currently co-head of Global Fixed Income with Matt, will become sole head of the group. Daniel will also remain CEO of our Europe, Middle East and Africa region, based in London. :theflyonthewall.com |
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| 09:05 EDT | | JPM |
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| 08:44 EDT | | ZION |
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| 07:37 EDT | | C |
| theflyonthewall.com: | American Financial Services Association to host a conference | | 22nd AFSA Finance Industry Conference for Fixed Income Investors is being held in Boston on May 14-16. :theflyonthewall.com |
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| 07:34 EDT | | BAC, WFC, USB, C, JPM |
| theflyonthewall.com: | Italy's market watchdog: Ban some financial products, Reuters reports | | Authorities must regulate and even ban financial products that can wipe out people's savings, says Giuseppe Vegas, chairman of Italy's market watchdog Consob, following JP Morgan's (JPM) $2B trading loss due to a failed hedging strategy, reports Reuters. Reference Link :theflyonthewall.com |
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| 07:30 EDT | | JPM |
| theflyonthewall.com: | Dimon admits to being "dead wrong" to dismiss red flags, Independent says | | JPMorgan Chase (JPM) CEO Jamie Dimon admitted the bank "got very defensive" and reacted badly to warning signs that it had large losses in financial derivatives trading and now the bank has "got to fully expect and pay the price" for its mistake, according to The Independent, quoting his television interview on NBC. Reference Link :theflyonthewall.com |
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| 07:23 EDT | | JPM, C, USB, WFC, BAC |
| theflyonthewall.com: | Not just U.S. but global regulators likely to react to JPMorgan events, FT says |
Subscribe for More Information :theflyonthewall.com |
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| 07:18 EDT | | JPM |
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| 07:15 EDT | | C, JPM, BAC, USB, WFC |
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| 06:57 EDT | | BBT |
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| 06:35 EDT | | JPM |
| theflyonthewall.com: | Steve Teru Rinoie as JPMorgan's Japan CEO, Nikkei reports | | Steve Teru Rinoie, the head of JPMorgan's (JPM) fixed income of Tokyo operations, has been named as president and CEO of JPMorgan in Japan, the Nikkei reports. Rinoie replaces Christopher Harvey, who will become the CEO of the firm's private bank in Latin America, on May 15. Reference Link :theflyonthewall.com |
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| 06:21 EDT | | BAC |
| theflyonthewall.com: | BofA, Societe Generale seek to overturn MBIA restructuring, Bloomberg reports |
Subscribe for More Information :theflyonthewall.com |
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| 06:11 EDT | | JPM |
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| 06:05 EDT | | JPM |
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May 13, 2012
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| 19:52 EDT | | JPM |
| theflyonthewall.com: | Three executives to leave JPMorgan after trading blunder, WSJ says | | Three executives to leave J.P. Morgan (JPM) after trading loss, reports the Wall Street Journal. Reference Link :theflyonthewall.com |
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| 18:27 EDT | | JPM |
| theflyonthewall.com: | S&P revises JPMorgan outlook to negative | | Standard & Poor's Ratings Services said it revised its outlook on JPMorgan Chase & Co. and its banking subsidiaries to negative from stable. At the same time, we affirmed our 'A/A-1' issuer credit ratings on JPM and our 'A+/A-1' issuer credit ratings on its banking subsidiaries. "The outlook revision reflects JPM's recently announced, unexpected pretax loss of $2B n its Chief Investment Office portfolio related to the miscalculation of a hedge consisting of synthetic credit exposures," said Standard & Poor's credit analyst Stuart Plesser. After reporting a gain of $1 billion from securities sales, the company expects to post an $800M aftertax loss in this division for the second quarter. Previously, JPM said it expected to report a gain of about $200 million in this division. :theflyonthewall.com |
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| 15:36 EDT | | JPM |
| theflyonthewall.com: | Investors can bank on JP Morgan trading at roughly 8x earnings, Barron's says |
Subscribe for More Information :theflyonthewall.com |
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| 15:33 EDT | | JPM, HBAN |
| theflyonthewall.com: | Jim Cramer's "Mad Money" | | Jim Cramer laid out his game plan for the week of May 14, ahead of Facebook's (FB) IPO on Friday. (Monday) Groupon (GRPN) reports, Cramer said this stock shows us just what can go wrong with a red hot technology-related IPO. He said to stay away. (Tuesday) A slew of retail earnings, including JC Penney (JCP), Dick'' Sporting Goods (DKS), Saks (SKS), TJX Stores (TJX) and Home Depot (HD). Cramer was bullish on TJX and Home Depot, but told investors to steer clear of the others for now. (Wednesday) earnings include John Deere (DE) a perpetually downbeat conference call, Target (TGT) a retailer whose prospects are looking up, along with two restaurants Jack in the Box (JACK) and Red Robin (RRBG). Cramer said he's intrigued by Target, but would only listen to the two burger chains'' results. (Thursday) Reporting: Ross Stores (ROST), Gap Stores (GPS) and Dollar Tree (DLTR), along with cloud computing giant Salesforce.com (CRM). Cramer said to buy any of the retailers on weakness, but only pickup Salesforce if the weakness is severe. (Friday) the expected IPO of Facebook (FB) and Cramer once again told investors to get in on the IPO, if they can, but absolutely do not buy any shares in the aftermarket. Next, Cramer said he's always a fan of companies unlocking value by splitting themselves up. In a case like Marathon Oil (MRO), shares rose 30% from the time the deal was announced until the split actually occurred earlier this year. But once the split happens, cautioned Cramer, the opportunity comes to an end. Now ConocoPhillips (COP) has spun off its Phillips 66 (PSX) refining and pipeline assets, the company is only growing at 3% to 5% a year, hardly enough to get excited about., Cramer says. He prefers Chevron (CVX), which offers a smaller dividend but also more growth. Investors looking for even more upside should consider EOG Resources (EOG) or an oil pipeline like Kinder Morgan Energy Partners (KMP). Bottom-line: Cramer said that he's not a buyer of either half of the old Conoco and told investors that this opportunity, like most other break up stories, has come to an end. Then, Cramer put the energy drink maker Monster Beverage (MNST) through his 10-step prism to find out if its a turbo-charged company or just an over-caffeinated stock. Weighing all the pros and cons, Cramer said that he would invest in Monster only as a speculative stock. He also recommended using deep-in-the-money call options as a stock replacement strategy to limit the downside risk. MAD MAIL: Medtronic (MDT) is dead money and there are better places to invest. Cramer prefers Energy Transfer Partners (ETP) instead of Inergy (NRGY). Conns (CONN) too risky. Cramer is only recommending a few oil stocks and not Carrizo (CRZO). Bearish on Windstream Communications (WIN). Abbott Labs (ABT) is his favorite drug stock. NO HUDDLE OFFENSE: Cramer sounded off on the JPMorgan Chase (JPM)) bad-trade debacle. Cramer suggested JPM CEO Jamie Dimon give up his bonus as a gesture of good will toward shareholders. LIGHTNING ROUND: (Bullish) DOW; CCE; HBAN, buy under $6. (Bearish) UPL; BGCP; BRCD; ERF.Reference Link :theflyonthewall.com |
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May 11, 2012
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| 17:12 EDT | | JPM |
| theflyonthewall.com: | Fed officials said to seek more information on JPMorgan trade, Bloomberg reports |
Subscribe for More Information :theflyonthewall.com |
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| 16:43 EDT | | JPM |
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| 16:15 EDT | | JPM |
| theflyonthewall.com: | On The Fly: Closing Wrap | | Stocks on Wall Street were mixed, as the Nasdaq was just barely able to cling to a marginal gain for the session. Stock futures pointed to a sharply lower open following JPMorgan’s (JPM) announcement of a $2B trading loss. The futures moved off their lows prior to the open but the broader market opened in negative territory. The averages found a level where they began to build following the highest consumer confidence reading since January 2008. Each of the major indices made it to positive territory and then went into a slow drift lower, with only the Nasdaq avoiding a return to the red... ECONOMIC EVENTS: Domestically, the producer price index report showed that prices fell 0.2% in April, versus expectations for no change. The core reading, which strips out food and energy, rose 0.2%, which was in line with expectations. The University of Michigan Consumer Confidence reading was 77.8, stronger than the expected 76 reading and its highest level since January 2008. Internationally, data from China and India may signal a further weakening of the global recovery, as China reported its industrial production rose 9.3% from a year ago in April while India's industrial output fell 3.5% in March from the prior year... COMPANY NEWS: The surprising announcement from JPMorgan of a $2B trading loss at one of its divisions triggered calls for tougher bank regulation and a sell off in its shares. CEO Jamie Dimon admitted to “egregious” failures in its risk management and said the losses could deepen this quarter and beyond, sending its stock down more than 9%... MAJOR MOVERS: Among the notable gainers were Arena Pharmaceuticals (ARNA), up $2.70, or 73.77%, to $6.36, after an FDA panel backed the approval of its weight loss drug, lorcaserin, and Monster Worldwide (MWW), up $1.50, or 19.13%, to $9.33, after Reuters said the company has attracted takeover interest from LinkedIn (LNKD) and Silver Lake, but CNNMoney said sources close to LinkedIn denied that report. Noteworthy losers included Alere (ALR), down $3.28, or 14.71%, to $19.02, following its disclosure of a subpoena from the Department of Health and Human Services and the potential of broader recalls of certain products after an FDA inspection, and Chesapeake Energy (CHK), down $2.37, or 13.80%, to $14.81, after the company said it would need to delay its 10-Q filing and then made the filing shortly afterward, in which it said it may have to delay some of its asset sales... INDICES: The Dow lost 34.44, or 0.27%, to 12,820.60; the Nasdaq rose 0.18, or 0.01%, to 2,933.82; and the S&P 500 dropped 4.60, or 0.34%, to 1,353.39. :theflyonthewall.com |
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| 16:13 EDT | | JPM |
| theflyonthewall.com: | Fed officials said to seek more information on JPMorgan trade, Bloomberg reports |
Subscribe for More Information :theflyonthewall.com |
|
| 15:59 EDT | | JPM |
| theflyonthewall.com: | Options Update; May 11, 2012 | | CBOE Volatility Index-VIX up 92c to 19.75 Option volume leaders today: CHK BAC JPM AAPL according to Track Data. :theflyonthewall.com |
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| 15:58 EDT | | JPM |
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| 14:44 EDT | | JPM |
| theflyonthewall.com: | Stocks set to end week lower as turmoil in Europe weighs on shares | | Stocks are poised to finish lower for the week as the fallout from elections in France and Greece, along with worries about the solvency of Spanish banks and Spain itself, rattled investors. MACRO NEWS: French socialist Francois Hollande won the French presidential election on Sunday. Hollande has called for the E.U.'s fiscal pact to be revised and weakened, placing him on a collision course with German Chancellor Angela Merkel and causing investors to become more worried about the euro zone's debt crisis... The Greek election also intensified investors' fears about Europe, as the party with the most votes was unable to form a government and the leader of the second largest party wants to default on the country's deals with the E.U... The Spanish government announced that it would nationalize the country's fourth largest bank, and some investors are worried that other Spanish banks will require aid from the government. There are also concerns that the cost of bailing out banks will bankrupt the Spanish government. COMPANY NEWS. In the U.S., JP Morgan (JPM) announced that it had suffered a $2B loss on synthetic trading positions. Some analysts believe that the loss will grow significantly... Cisco (CSCO) reported stronger than expected Q3 results but provided lower than expected Q4 EPS guidance. The company warned that European headwinds and customers' conservatism were creating challenges... Coty increased its takeover offer for Avon (AVP) to $24.75 per share. :theflyonthewall.com |
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| 13:42 EDT | | JPM |
| theflyonthewall.com: | Dimon tells employees JPMorgan can withstand $2B trading loss, AP reports | | JPMorgan's (JPM) CEO Jamie Dimon said in a letter sent to the bank's employees that can withstand the setback from its disclosure of a $2B trading loss, but that it doesn't excuse the mistakes, reported Associated Press. Dimon told staff no customers suffered as a result of the bank's mistakes, according to AP. Reference Link :theflyonthewall.com |
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| 13:08 EDT | | JPM |
| theflyonthewall.com: | SEC opens investigation into JPMorgan's trading loss, NY Times reports | | A few days ago, the SEC opened a preliminary investigation into JPMorgan’s (JPM) accounting practices and public disclosures about the trades, according to people briefed on the matter, who spoke on the condition of anonymity, the New York Times reported. Reference Link :theflyonthewall.com |
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| 13:02 EDT | | JPM |
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| 12:42 EDT | | JPM |
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| 11:56 EDT | | JPM |
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| 10:23 EDT | | JPM |
| theflyonthewall.com: | On The Fly: Analyst Downgrade Summary | | Today's noteworthy downgrades include: Ardea Biosciences (RDEA) downgraded to Neutral from Buy at UBS... Best Buy (BBY) downgraded to Neutral from Outperform at Credit Suisse... GeoEye (GEOY) downgraded to Neutral from Outperform at Macquarie... JPMorgan (JPM) downgraded to Market Perform from Outperform at FBR Capital... JPMorgan downgraded to Hold from Buy at Stifel Nicolaus... Kemet (KEM) downgraded to Underperform from Buy at BofA/Merrill... PSS World Medical (PSSI) downgraded to Neutral from Outperform at RW Baird... Roundy's (RNDY) downgraded to Neutral from Outperform at RW Baird... AMC Networks (AMCX) downgraded to Hold from Buy at Gabelli. :theflyonthewall.com |
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| 10:13 EDT | | JPM |
| theflyonthewall.com: | Regulators looking into JPMorgan trading for almost a month, NY Times reports |
Subscribe for More Information :theflyonthewall.com |
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| 10:10 EDT | | JPM |
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| 09:45 EDT | | C |
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| 09:41 EDT | | JPM |
| theflyonthewall.com: | Active equity option families in first 10-minutes | | Active equity option families in first 10-minutes of trading according to Track Data are: AAPL JPM ARNA CSCO. :theflyonthewall.com |
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| 09:40 EDT | | JPM |
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| 08:36 EDT | | JPM |
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| 08:35 EDT | | JPM |
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| 08:29 EDT | | C |
| theflyonthewall.com: | Citigroup volatility low as shares trend to three-month low | | Citigroup overall option implied volatility of 39 is below its 26-week average of 43 according to Track Data, suggesting decreasing price movement. :theflyonthewall.com |
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| 07:53 EDT | | STI |
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| 07:52 EDT | | BAC, WFC, JPM, C, USB |
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| 07:32 EDT | | JPM |
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| 07:30 EDT | | JPM |
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| 07:25 EDT | | JPM |
| theflyonthewall.com: | Guggenheim's policy analysts discuss JP Morgan's loss on conference call | | Senior Policy Analyst Seiberg and Equity Analyst Mosby discuss JP Morgan's surprise announcement of its $2B loss on a synthetic credit position and the impact on the Volcker Rule, the empowerment of those who want to break-up the mega banks and the impact on JP Morgan on an Analyst/Industry conference call to be held on May 11 at 8:30 am. :theflyonthewall.com |
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| 07:23 EDT | | JPM |
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| 07:21 EDT | | JPM |
| theflyonthewall.com: | JPMorgan price target lowered to $38 from $42 at CLSA | | CLSA's Mike Mayo said JPMorgan's $2B trading loss raises questions regarding checks and balances and increases increases regulatory scrutiny. Shares are Underperform rated. :theflyonthewall.com |
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| 07:20 EDT | | JPM |
| theflyonthewall.com: | Morgan Stanley overall volatility at 46 into JPMorgan $2B loss | | Morgan Stanley overall option implied volatility of 46 is below its 26-week average of 50 according to Track Data, suggesting decreasing price movement. :theflyonthewall.com |
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| 07:13 EDT | | BAC |
| theflyonthewall.com: | Bank of America volatility at nine-month lows | | Bank of America overall option implied volatility of 41 is below its 26-week average of 54 according to Track Data, suggesting decreasing price movement. :theflyonthewall.com |
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| 07:07 EDT | | JPM |
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| 06:37 EDT | | JPM |
| theflyonthewall.com: | JP Morgan volatility at low end of 11-month range into $2B loss | | JP Morgan overall option implied volatility of 30 is below its 26-week average of 34 according to Track Data, suggesting decreasing price movement into a large, illiquid hedge position which has already resulted in a $2B loss. :theflyonthewall.com |
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| 06:32 EDT | | JPM |
| theflyonthewall.com: | JPMorgan has replay of business news update conference call | | Conference call was held on May 10 at 5 pm a replay is available through May 24. Webcast Link :theflyonthewall.com |
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| 06:29 EDT | | JPM |
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| 06:20 EDT | | JPM |
| theflyonthewall.com: | JPMorgan price target lowered to $45 from $52 at Citigroup | | Citigroup lowered its price target for JPMorgan to reflect lower earnings and higher uncertainty after the company disclosed a $2B trading loss on synthetic credit positions. Citi is more concerned about regulatory and reputational risks as it believes JPMorgan's balance sheet can handle the loss, and keeps a Buy rating on the stock. :theflyonthewall.com |
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| 05:45 EDT | | PNC, JPM, USB, WFC |
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| 04:59 EDT | | WFC, USB |
| theflyonthewall.com: | Jim Cramer's "Mad Money" | | Jim Cramer noted that housing is coming back "and it's going to take a lot of sectors with it." Cramer said the housing market may have bottomed out in 2007, but things are finally beginning to change as homebuilders like Toll Brothers (TOL) and Lennar (LEN) are up 31% and 40% for the year, respectively. Home builders need materials, said Cramer, so why not look into a Masco (MAS) or Sherwin-Williams (SHW) or Owens Corning (OC)? All of these stocks are cheap, Cramer says. Home buyers will need loans, so that's good news for Wells Fargo (WFC) and US Bancorp (USB), said Cramer. They will also need insurance, think Travelers (TRV). While those may be the obvious plays, Cramer said there are plenty of other companies that benefit as well. Time Warner (TWX) will provide cable service to many new homes while Verizon (VZ) and AT&T (T) will provide phone service. Cramer also touted retail, which does well when homes are increasing in value. He likes Bed Bath & Beyond (BBBY), along with Home Depot (HD) and Costco (COST). EXECUTIVE DECISION: Cramer once again sat down with Richard Pops, chairman and CEO of drug maker Alkermes (ALKS), a company that expects to see double-digit revenue growth next year. Pops said that Alkermes is now in the sweet spot; it's large enough that it has all of the resources it needs to make medicines, get them approved and manufacture them, but it's also not too big that bureaucracy slows its pace of innovation. One of Alkermes' most promising treatments is for alcoholism. And, it also has a promising drug in phase III testing for schizophrenia. Cramer said he continues to like the innovation and growth at Alkermes, even if the company remains a speculative play, as it still has no earnings. OFF THE CHARTS:The technicals are warning investors to be more cautious going forward, as another 5% drop to the downside could be looming. "Keep your eye on the CBOE Volatility Index (VIX)", Cramer concluded. NO HUDDLE OFFENSE: While everything is going right inside Cisco (CSCO), outside factors, including decreasing government spending, are an issue that every technology company will need to address in the near future, Cramer says. Next, Cramer revisited the Hospitality Index, a group of stocks created by restauranteur Danny Meyer in 2009. The Hospitality Index consisted of 17 stocks including Whole Foods (WFM), Chipotle Mexican Grill (CMG), Apple (AAPL), Costco (COST) and Amazon.com (AMZN). Since its introduction in 2009, the S&P 500 has delivered a 65% return while the Hospitality Index returned a stellar 257% return with only one stock, DreamWorks Animation (DWA), posting a loss. Cramer said the same things that have made these companies a success over the past three years still hold true today. LIGHTNING ROUND: Hewlett-Packard (HPQ): Cramer doesn't like the stock at all and says "it can go lower, much lower." Pan American Silver (PAAS) is the best house in a shaky neighborhood. Cramer doesn't want to own any miners, they're too dangerous. Hercules Offshore (HERO) If you consider it a speculative stock, Cramer blesses it as a long-term bet on oil. Prudential (PRU) Cramer likes it, but is cautious as the stock doesn't have yield protection. Zipcar (ZIP) Cramer said he would look again when the stock is between $6 and $9 a share. Chesapeake Granite Wash Trust (CHKR) Cramer thinks you can buy it lower. Deere & Co.(DE): "It's a good company but the commodities are weak". Cramer wants to be 'careful'. Reference Link :theflyonthewall.com |
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