Stock Market & Financial Investment News

News Breaks January 15, 2013 13:31 EDT JPM Earnings 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 Check below for free stories on JPM the last two weeks. Sign up for a free trial to see the rest of the stories you've been missing. 1 | 2 | 3 | all recent JPM news | >> May 23, 2013 14:45 EDT JPM JPMorgan names Barry Sommers head of consumer bank, Reuters says Subscribe for More Information 11:56 EDT JPM Visa names Ryan McInerney president Visa (V) announced the appointment of Ryan McInerney as president of Visa. In this role, McInerney will be responsible for Visa's global client organization, product management as well as a new solutions group, which will focus on building and bringing to market new products and services to Visa's issuer, acquirer and merchant clients. Mr. McInerney will report to Charlie Scharf, CEO of Visa . McInerney joins Visa from JP Morgan Chase (JPM) where he was the CEO of Consumer Banking. 08:10 EDT JPM JPMorgan compelling at current levels, says RW Baird Subscribe for More Information 07:12 EDT JPM Wall Street trying to use trade deals to weaken Dodd-Frank, Bloomberg reports Subscribe for More Information 06:32 EDT JPM Dimon looks to improve JPMorgan after winning vote, NY Times says After JPMorgan's (JPM) shareholders voted to allow Jamie Dimon to keep his dual role as the bank's CEO and chairman, Dimon is looking to repair the bank's relationship with regulators and "fortify risk controls," according to The New York Times. Reference Link 06:29 EDT JPM Software firm Luxoft files for IPO in New York, Bloomberg reports Subscribe for More Information 06:08 EDT JPM On the Fly: Periodicals Wrap-Up Subscribe for More Information 05:48 EDT JPM Proxy advisers see their power diminish, WSJ reports Subscribe for More Information May 22, 2013 14:54 EDT JPM JPMorgan not likely to add new board members soon, Bloomberg says Subscribe for More Information 10:31 EDT JPM JPMorgan spikes higher along with peers, levels to watch Subscribe for More Information 09:02 EDT JPM Financials upgraded to Overweight from Market Weight at Wells Fargo Wells Fargo believes that financials' earnings continue to be the strongest of any sector in the S&P 500. The firm thinks that the sector's stocks appear to be breaking out from a technical standpoint. Citigroup (c) and Ameriprise Financial (AMP) are on the firm's priority list. May 21, 2013 16:26 EDT JPM On The Fly: Closing Wrap Subscribe for More Information 12:36 EDT JPM On The Fly: Midday Wrap Subscribe for More Information 11:47 EDT JPM JPMorgan holders vote to keep Dimon as Chairman, CEO Subscribe for More Information 11:09 EDT JPM JPMorgan's Raymond says 'stay tuned' on composition of risk committee Subscribe for More Information 11:03 EDT JPM JPMorgan's Dimon says more regulatory consent orders expected Subscribe for More Information 09:03 EDT JPM JPMorgan CEO looks set to hold onto chairman role, NY Times reports Preliminary votes indicate JPMorgan CEO Jamie Dimon will hold onto his title of chairman, New York Times reports, citing people who have seen today's shareholder vote results. Reference Link 07:32 EDT JPM JPMorgan's Mowat likes India among emerging market stocks, Economic Times says Subscribe for More Information 07:13 EDT JPM U.S. bank mergers less likely this year, Bloomberg reports Subscribe for More Information 07:11 EDT JPM JPMorgan board changes expected, WSJ reports JPMorgan Chase plans to shake-up of its board even if every director wins re-election at today’s shareholder meeting and James Dimon keeps his dual job as chairman and CEO, reports the Wall Street Journal.Reference Link 1 | 2 | 3 | all recent JPM news | >> Sign up for a free trial to see the rest of the stories you've been missing.