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Stock Market & Financial Investment News

News Breaks
January 15, 2013
13:31 EDTJPMEarnings Preview: Outlook mixed into JPMorgan's Q4 results
JPMorgan (JPM) is scheduled to report Q4 earnings before the open on Wednesday, January 16, with a conference call scheduled for 9:00 am ET. JPMorgan is a bank that engages in investment and commercial banking, as well as other financial services. EXPECTATIONS: Analysts are looking for EPS of $1.16 on revenue of $24.42B, according to First Call. The consensus range for EPS is 98c-$1.29 on revenue of $23.05B-$26.55B. LAST QUARTER: JPMorgan reported Q3 EPS of $1.40 against estimates for $1.21, on revenue of $25.15B against estimates for $24.53B. Last quarter the bank reported that the credit metrics of its mortgage banking business had improved modestly, enabling it to lower its related loan loss reserves by $900M. However, JPMorgan added that it expected to see high default related expenses for awhile longer. The credit trends in the bank’s credit card portfolio continued to improve, and its capital reserves increased. Investment banking fees jumped 38% compared with the same period in 2011, but fixed income and equity markets revenue was flat. On November 8, the bank announced that it had received permission from the Fed to buy back up to $3B of its stock in 1Q13. On the legal front, the bank agreed on November 16 to pay $297M to settle charges by the SEC that the bank and its Bear Stearns subsidiary had misled investors in mortgage-backed securities that they issued. On December 4, JPMorgan CFO Marianne Lake said the bank’s mortgage business was benefiting from low interest rates, while it could offset the pressure on its net interest margin through net interest income. It also said its Q4 mortgage banking origination levels would be at or above Q3 levels, while its total quarterly net charge-offs would come in below $600M. On January 9, the bank said that it expected to take a $700M pre-tax charge for Q4 related to the settlement of improper foreclosure charges. STREET RESEARCH: On January 3, Sterne Agee upgraded the bank’s stock to Buy from Neutral, due to improved unit performance in large corporate/middle market lending and mortgage banking, improving credit quality, respectable loan growth, and its dominant market share position. Conversely, on January 4, Goldman Sachs lowered its rating on JPMorgan to Buy from Conviction Buy, citing what it sees as a lack of earnings catalysts, and relative valuation. Goldman had a $52 price target on the stock. PRICE ACTION: Over the last three months, JPMorgan’s stock has risen almost 9% to above $46, after reaching a trough of ~$39 in mid-November.
News For JPM From The Last 14 Days
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April 14, 2015
07:10 EDTJPMJPMorgan up 0.5% to $62.35 in pre-market following Q1 report
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07:08 EDTJPMJPMorgan reports Q1 Basel III common equity Tier 1 ratio 10.6%
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07:06 EDTJPMJPMorgan CEO says franchise getting safer, stronger
Jamie Dimon, JPMorgan Chairman and CEO, said: “JPMorgan Chase continues to support consumers, businesses and communities and make a significant positive impact. We have an outstanding franchise which is getting safer and stronger, and is gaining market share over time. We continue to build the company for the long-term, we are investing in controls, infrastructure, systems, technology, new products and bankers. We will continue to navigate challenges and deliver for our clients, shareholders and communities.”
07:03 EDTJPMJPMorgan reports tangible book value per share up 9% to $45.45
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07:01 EDTJPMJPMorgan says Q1 results include $487M, or 13c, significant item legal expense
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07:00 EDTJPMJPMorgan reports Q1 EPS $1.45, consensus $1.40
Reports Q1 GAAP revenue $24.1B, consensus $24.5B. Reports Q1 managed basis revenue $24.82B.
April 13, 2015
16:21 EDTJPMOn The Fly: Top stock stories for Monday
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15:38 EDTJPMNotable companies reporting before tomorrow's open
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15:18 EDTJPMJPMorgan technical notes ahead of earnings
The shares are trading close to the 52-week high which is at $63.49. On strongly positive news, the stock would be pushed toward the life high at $67.17. That would be an important technical milestone if it was reached. Traders should note however that that move would on a long-term basis appear as a move up to prior resistance without being a bullish breakout. Until or if there is a breakout above the old life high, there is retracement risk even on good results. On news that is more bearish than current expectations would suggest, first major support would be at the 50-day moving average at $60.10. On a move below that level, next support would be at $57.87.
15:10 EDTJPMJPMorgan April 62 straddle priced for 2.6% movement into Q1
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13:57 EDTJPMEarnings Watch: Analysts upbeat on JPMorgan ahead of Q1 results
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11:12 EDTJPMJP Morgan April volatility elevated into Q1 and outlook
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April 10, 2015
14:18 EDTJPMJP Morgan April volatility elevated into Q1 and outlook
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06:21 EDTJPMBofA Merrill poaches JP Morgan's Brabazon for M&A group, Reuters reports
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April 9, 2015
07:13 EDTJPMJPMorgan CEO sees legal cost normalizing next year, WSJ reports
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06:55 EDTJPMJPMorgan added to U.S. Focus List at Credit Suisse
Credit Suisse added Outperform rated JPMorgan to the U.S. Focus List to reflect balance sheet optimization and balance sheet deployment, and catalysts that include clarification mandated domestic GSIB capital surcharges and continued fundamental performance.
April 7, 2015
10:05 EDTJPMOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Carnival (CCL) upgraded to Outperform from Market Perform at Wells Fargo... Crown Castle (CCI) upgraded to Buy from Hold at Evercore ISI... Ctrip.com (CTRP) upgraded to Overweight from Neutral at Piper Jaffray... Demandware (DWRE) upgraded to Conviction Buy from Buy at Goldman... FirstEnergy (FE) upgraded at BofA/Merrill... Frontier Communications (FTR) upgraded to Neutral from Underperform at DA Davidson... JPMorgan (JPM) upgraded to Outperform from Market Perform at Bernstein... Pattern Energy (PEGI) upgraded to Outperform from Market Perform at Raymond James... Ralph Lauren (RL) upgraded to Buy from Outperform at CLSA... ResMed (RMD) upgraded to Outperform from Neutral at Credit Suisse... Ryanair (RYAAY) upgraded to Overweight from Neutral at JPMorgan... Splunk (SPLK) upgraded to Overweight from Neutral at Piper Jaffray... Total (TOT) upgraded at RBC Capital... Verifone (PAY) upgraded to Buy from Hold at Stifel... XL Group (XL) upgraded to Buy from Neutral at UBS.
09:08 EDTJPMGoldman says buy JPMorgan, Signature Bank, and Regions Financial into Q1
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07:18 EDTJPMJPMorgan upgraded to Outperform from Market Perform at Bernstein
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April 6, 2015
12:22 EDTJPMJP Morgan April volatility up into Q1 and outlook
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