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Stock Market & Financial Investment News

News Breaks
April 10, 2014
13:33 EDTJPMEarnings Preview: Analysts mixed on JPMorgan into Q1 results
JPMorgan (JPM), a financial holding company, is scheduled to report first quarter earnings before the open on Friday, April 11, with a conference call scheduled for 8:30 am ET. EXPECTATIONS: Analysts are looking for earnings per share of $1.40 on revenue of $24.53B, according to First Call. The consensus range for EPS is $1.28-$1.54 on revenue of $23.19B-$25.42B. LAST QUARTER: JPMorgan reported higher than expected Q4 earnings, excluding certain items, and slightly lower than expected revenue. The bank’s provision for credit losses tumbled $552M versus the same period a year earlier to $104M, but its mortgage application volumes sank 52% to $31.3B. The net income generated by JPMorgan’s Card, Merchant Services & Auto jumped 23%, year-over-year, and its net income from its mortgage banking unit surged 34%. Its real estate portfolios generated net income of $1.2B, up from $410M. The company’s mortgage production unit generated a $274M loss, and net revenue from its corporate and investment bank dropped to $6.02B from $7.6B in the year-ago period. The bank predicted that its net interest income and net interest margin would be relatively stable in the near-term. On March 26, the bank announced that the Fed had approved its plan to increase its dividend to 40c from 38c and repurchase $6.5B of its own stock. STREET RESEARCH: On April 9, RBC Capital cut its estimates for JPMorgan, but noted that JPMorgan has strong earnings power and a best-in-class management team, and kept a $67 price target and Outperform rating on the shares. More upbeat on JPMorgan was Macquarie, which upgraded the stock to Outperform from Market Perform in a note to investors on April 4. JPMorgan is one of the cheapest ways for investors to benefit from improving U.S. and European economies and increasing short-term interest rates, the firm contended. Additionally, JPMorgan’s asset management business should generate a higher share of the company’s core earnings going forward, Macquarie predicted. This change should be positive for the stock, as asset management companies tend to get high valuations, the firm reported. The firm raised its price target on the shares to $68 from $62. PRICE ACTION: JPMorgan’s stock is little changed this year, but down about 3% in trading this afternoon ahead of tomorrow's earnings report.
News For JPM From The Last 14 Days
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October 14, 2014
08:48 EDTJPMJPMorgan CFO says on track to exceed headcount reduction targets in CCB
JPMorgan says its total Consumer & Community Banking headcount is down about 10,000 year to date and about 27,000 since the end of 2012. JPMorgan says it is on track to exceed its prior 2014 headcount reduction guidance in CCB by about 3,000.
08:42 EDTJPMJPMorgan sees Q4 Commercial Banking revenue down from prior year
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08:40 EDTJPMJPMorgan CFO says has not seen elevated fraud levels to date related to breach
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08:38 EDTJPMJPMorgan now sees FY14 net charge-offs to be less than $5B
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06:47 EDTJPMJPMorgan: While challenges remain in recovery, US economy is exception
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06:46 EDTJPMJPMorgan reports Q3 Consumer & Business banking deposits up 9%
Reports Q3 credit card sales volume up 12%; Reports Q3 client investment assets up 16%. Reports Q3 Business Banking loan origination up 27%.
06:06 EDTJPMUKAR sells GBP 2.7B mortgage portfolio to JPMorgan consortium
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05:33 EDTJPMJPMorgan reports Q3 headcount 138,686 vs. 156,064 last year
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05:31 EDTJPMJPMorgan reports Q3 results included $2.96B in other expenses
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05:24 EDTJPMJPMorgan reports Q3 EPS 1.36, consensus $1.38
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October 13, 2014
15:24 EDTJPMNotable companies reporting before tomorrow's open
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14:42 EDTJPMJPMorgan technical notes ahead of results
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12:42 EDTJPMJPMorgan Chase volatility increases into Q3 and guidance
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12:30 EDTJPMEarnings Preview: JPMorgan to report after disclosing massive security breach
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07:39 EDTJPMPharmaceutical Care Management Association to hold annual meeting
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07:19 EDTJPMAmEx, Capital One profits seen boosted by credit card 'sweet spot,' WSJ says
Credit card players such as American Express (AXP) and Capital One (COF), as well as banks with significant card units like JPMorgan (JPM), stand to benefit from the U.S. card industry's "sweet spot" of moderate economic growth, low interest rates and consumers who are better managing payments while growing their spending, said The Wall Street Journal, which noted that consulting firm R.K. Hammer estimates U.S. card issuers' revenue will grow 9% this year to $158.6B. Other U.S. banks with credit card units include Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC) and other card companies include Visa (V) and MasterCard (MA). Reference Link
06:44 EDTJPMRegulators seeking banks' auto loan data, Reuters reports
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00:04 EDTJPMBanking regulators want more disclosure on auto loans, Reuters says
Banking regulators are requesting that banks provide more details on their auto loan portfolios, says Reuters. Balances remaining on auto loans are rising and about a fifth of the loans are subprime, added Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Capital One (COF), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
October 12, 2014
17:34 EDTJPMJPMorgan to double spending on cybersecurity over next five years, WSJ says
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13:03 EDTJPMBanks agree on derivatives procedures for future crisis scenario, WSJ says
Meeting at the Federal Reserve in Washington, top banking executives from 18 large U.S., European and Japanese banks agreed in principle to wait up to 48 hours before seeking to terminate derivatives contracts and collect associated payments from a troubled financial institution, says the Wall Street Journal. 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
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