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Stock Market & Financial Investment News

News For JPM;WFC From The Last 14 Days
Check below for free stories on JPM;WFC the last two weeks.
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April 11, 2014
07:07 EDTJPMJPMorgan Q1 Basel III Tier 1 common ratio 9.5%
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07:06 EDTJPMJPMorgan Q1 headcount down 8,904 from prior year to 246,994
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07:06 EDTJPMJPMorgan reports Q1 provision for credit losses $850M
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07:04 EDTJPMJPMorgan board authorizes firm to repurchase $6.5B of common equity
The board authorized the firm to repurchase $6.5B of common equity commencing within Q2 this year through the end of the first quarter of 2015. During the first quarter of 2014, the Firm repurchased $400M of common equity. The Federal Reserve Board informed the Firm that it does not object to the Firm’s proposed 2014 capital distribution plan.
07:03 EDTJPMJPMorgan reports Q1 Consumer and Community Banking revenue $10.46B
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07:03 EDTJPMJPMorgan board increases quarterly dividend to 40c from 38c
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07:01 EDTJPMJPMorgan reports Q1 Basel 1 Tier 1 Capital Ratio 12.1%
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07:01 EDTJPMJPMorgan reports Q1 EPS $1.28, consensus $1.40
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07:00 EDTJPMJPMorgan reports Q1 EPS $1.28, consensus $1.40
Reports Q1 revenue $22.99B, consensus $24.53B
06:03 EDTJPMJPMorgan CEO Jamie Dimon hopes to minimize corporate cash, WSJ says
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April 10, 2014
15:25 EDTJPM, WFCNotable companies reporting before tomorrow's open
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13:33 EDTJPMEarnings Preview: Analysts mixed on JPMorgan into Q1 results
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13:08 EDTJPMJP Morgan April weekly 58 straddle priced for 2% move into Q1
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13:07 EDTWFCWells Fargo April weekly 50 straddle priced for 2% move into Q1
12:36 EDTWFCEarnings Preview: Wells Fargo to report results after dividend hike
Wells Fargo (WFC), a bank holding company, is scheduled to report first quarter earnings before the open on Friday, April 11, with a conference call scheduled for 10:00 am ET. EXPECTATIONS: Analysts are looking for earnings per share of 97c on revenue of $20.6B, according to First Call. The consensus range for EPS is 90c-$1.02 on revenue of $19.5B-$22.41B. LAST QUARTER: Wells Fargo reported higher than expected Q4 EPS and revenue. The company said that it believes it can continue to grow its net interest margin over time. In a statement, CEO John Stumpf said, "Strong earnings power and capital levels, and an improving economic outlook are major reasons why we look ahead to 2014 with optimism." On March 26, Wells Fargo reported that the Federal Reserve had approved the bank’s capital allocation plan. Under the plan, Wells plans to pay a dividend of 35c per share. The dividend, which was increased 16.7% over prior levels, must be approved by the bank’s board of directors at its April 29 meeting. The bank also authorized the repurchase of an additional 350M shares of its own stock. STREET RESEARCH. In a note to investors on April 8, UBS wrote that Q1 may be the first quarter in four years that Wells Fargo’s EPS will not grow versus the previous quarter, as it believes the bank was hit with seasonal costs in Q1 that were not offset by revenue increases. The bank’s EPS will drop to 97c in Q1, down from $1.00 in Q4, but will still be up 5% versus the first quarter of 2013, the firm predicted. On a positive note, UBS contended that Wells Fargo was "a relative winner" of the Fed’s capital plan approval process. Although Wells' board has approved a 350M share increase in the bank’s stock repurchases, it typically doesn’t carry out large share repurchases, UBS stated. Wells should benefit from a continued U.S. economic recovery, but its shares already reflect such an outlook, according to UBS, which kept a Neutral rating on the stock. Meanwhile, Oppenheimer was somewhat upbeat about the sector's outlook. In a note to investors on April 3, the firm predicted that bank stocks would outperform the broader market by a few hundred basis points per year. Loan growth "remains sluggish," but reduced credit costs and expenses should enable banks to report results that show slight year-over-year improvements, the firm contended. PRICE ACTION: Wells’ stock is little changed over the last month, but is up 6% so far this year and nearly 29% over the last 12 months.
08:37 EDTJPMDimon admits JPMorgan had 'tin ear' when listening to regulators, Reuters says
JPMorgan CEO Jamie Dimon said the company had a “tin ear” when dealing with regulators before settling investigations into mortgage lapses and trading losses, according to Reuters, citing comments from Dimon in a letter to the bank's investors. Dimon said, "Our response generally was, ‘We know what we’re doing.' Well, we should have done more self-examination. We need to be better listeners.” Reference Link
07:43 EDTJPMJPMorgan (JPM) CEO says 2013 was a year of 'pain,' WSJ reports
J.P. Morgan CEO Jamie Dimon acknowledged in his annual shareholder letter that legal issues and new regulations faced by the bank made 2013 "the most painful, difficult and nerve-wracking experience" he has ever dealt with professionally, reported The Wall Street Journal. Reference Link
07:30 EDTWFCWells Fargo April volatility elevated at 20 into Q1 and outlook
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06:41 EDTJPMGo Daddy hires Morgan Stanley, JPMorgan for IPO, NY Times says
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06:35 EDTWFC, JPMMobile banking presents opportunity and risks for banks, WSJ reports
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