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Stock Market & Financial Investment News

News Breaks
January 16, 2013
07:23 EDTJPMJPMorgan CEO Dimon's 2012 compensation cut to $11.5M after CIO losses
JPMorgan Chase announced that the Firm's Management Task Force and the Board Review Committee have each concluded their reviews relating to the 2012 losses by the Firm's Chief Investment Office and have released their respective reports. JPMorgan also announced that the Board has approved 2012 compensation for Jamie Dimon, Chairman and CEO, in the amount of $11.5M. This includes salary of $1.5M, flat with the prior year, and incentive compensation of $10M, all in the form of restricted stock units, down 53.5% from the prior year. The Board also deferred, for a period of up to 18 months, up to July 22, 2014, vesting on options in the form of stock appreciation rights it had granted Dimon in January 2008. In making its compensation determinations, the Board focused on the long-term, as well as the annual, performance of the Firm and on the entire range of Dimon's responsibilities, and took into consideration both the continued strong performance of the Firm, and the CIO losses, including Dimon's responsibility as the Firm's CEO, the company stated in a filing and report on its website.
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July 15, 2014
09:25 EDTJPMJPMorgan continues to see share buyback as back-end loaded
JPMorgan CFO says company does not give specific guidance on share repurchases, but that the bank has capacity to do share buybacks in the second half of the year.
09:21 EDTJPMOn The Fly: Pre-market Movers
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08:44 EDTJPMJPMorgan CFO says mortgage production environment remains challenging
JPMorgan CFO Marianne Lake speaking on earnings conference call.
08:41 EDTJPMJPMorgan reports firm NIM down 1 bp, core NIM down 2 bps
JPMorgan reports Q2 firm and core NIM down 1 bp and 2 bps sequentially, to 2.19% and 2.64%, respectively, primarily due to lower loan yields, partially offset by lower long-term debt yields.
08:34 EDTJPMJPMorgan CEO Dimon says feels great, prognosis excellent for condition
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08:30 EDTJPMJPMorgan sees current fixed income and equities environment to persist in Q3
In Fixed Income & Equities, JPMorgan expects the current environment to persist into Q3 with normal seasonal trends. In Securities Services, sees revenue to decrease by approximately $100M in Q3 from $1.14B in Q2, due to seasonality. In Treasury Services, expects revenue to be flat vs. Q2 at approximately $1B in Q3, primarily due to the impact of business simplification and lower trade finance balances and spreads. JPMorgan sees FY14 pretax margin and ROE to be lower than Q2, as the business continues to invest in both infrastructure and controls as well as select front office hiring, but is on track to deliver TTC targets for FY15. Guidance in slides for Q2 earnings conference call.
08:26 EDTJPMJPMorgan expects FY14 adjusted expense $58B+/-
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07:23 EDTJPMFortune to hold a conference
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07:08 EDTJPMJPMorgan CEO says saw encouraging signs toward end of Q2
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07:06 EDTJPMJPMorgan reports Q2 Basel III Common Equity Tier 1 ratio 9.8%
Reports Common Equity Tier 1 of $161B, or ratio of 9.8%. Reports Firm Supplementary Leverage Ratio of 5.4%. Reports "core loans" up 8% compared with the prior year. Consumer & Community Banking: average Consumer & Business Banking deposits up 9%; credit card sales volume up 12%; record client investment assets up 19%; record Business Banking loan originations up 46% Corporate & Investment Bank: maintained #1 ranking for Global Investment Banking fees with 8.2% wallet share YTD; assets under custody up 14%. Commercial Banking: period-end loan balances up 9%, driven by 14% growth in Commercial Real Estate; gross investment banking revenue with Commercial Banking clients up 25%. Asset Management: twenty-first consecutive quarter of positive net long-term client flows; record client assets up 15%; record loan balances up 17%.
07:05 EDTJPMJPMorgan reports headcount down 8,871 to 245,192
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07:04 EDTJPMJPMorgan reports Q2 provision for credit losses $692M
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07:02 EDTJPMJPMorgan says Q2 results include $500M after-tax, or 13c, legal expense
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07:01 EDTJPMJPMorgan reports Q2 adjusted EPS $1.46, consensus $1.29
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06:19 EDTJPMJPMorgan reports June net charge losses 2.84% vs. 3.05% last month
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July 14, 2014
15:24 EDTJPMNotable companies reporting before tomorrow's open
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14:40 EDTJPMJPMorgan July 56.5 straddle priced for 2.2% move into Q2
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08:01 EDTJPMJP Morgan July volatility increases into Q2 and outlook
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July 11, 2014
07:20 EDTJPMBig banks seen losing reserve release cushion, Reuters says
Releasing loan-loss reserves has helped U.S. big banks weather a period of weak loan demand and lower fee income, but Q2 results from the banks may see less benefit from the practice as loss rates and reserves near their lower limits, said Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
July 10, 2014
06:21 EDTJPMJPMorgan appoints Li as new China head, Reuters says
JPMorgan Chase (JPM) said it has appointed former UBS (UBS) banker David Li as the new head of its China division to replace top China banker Fang Fang who left the firm in March, according to Reuters, citing a statement from the U.S. company. Reference Link
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