New User:

-or-
Username:
Password:
Forgot your password?

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
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent JPM news | >>
February 25, 2015
06:23 EDTJPMJPMorgan in talks with DOJ over auto loan pricing
Subscribe for More Information
06:13 EDTJPMJPMorgan to close 300 bank branches over two years, AP reports
Subscribe for More Information
February 24, 2015
10:53 EDTJPMJPMorgan rises, levels to watch
Subscribe for More Information
09:25 EDTJPMJPMorgan sees pro forma net income growing to about $30B over 3 year horizon
Subscribe for More Information
09:11 EDTJPMJPMorgan CFO says will 'aggressively' manage G-SIB exposures
CFO Lake says may take at actions to reduce G-SIB buffer to 4% if required actions are accretive.
09:06 EDTJPMJPMorgan CFO says company seeks to raise dividends if approved
Subscribe for More Information
09:01 EDTJPMJPMorgan expects legal costs to ease, but remain above pre-crisis levels
08:55 EDTJPMJPMorgan expect net charge offs to remain low at $4B+ in 2015
Subscribe for More Information
07:21 EDTJPMSecurities Industry & Financial Markets Association to hold a conference
Subscribe for More Information
06:15 EDTJPMBanks probed for possible rigging of precious metals markets, WSJ reports
Officials in the U.S. are investigating at least 10 major banks for potential rigging of precious-metals markets, sources tell The Wall Street Journal. The DOJ's antitrust unit are investigating the price-setting process for gold, silver, palladium and platinum in London, while the CFTC has begun a civil investigation, with both agencies making requests for information, including a subpoena to HSBC (HSBC) from the CFTC. According to a source, Credit Suisse (CS), JP Morgan (JPM), UBS (UBS), Societe Generale (SCGLY), Bank of Nova Scotia (BNS), Barclays (BCS), Goldman Sachs (GS) and Deutsche Bank (DB) are also under investigation. Reference Link
06:12 EDTJPMJPMorgan plans to charge fees for deposits from large clients, WSJ says
JPMorgan is planning to charge corporate clients, hedge funds, private-equity firms, and foreign banks for deposits due to regulatory rules that impose costs on holding money viewed as "prone to fleeing" during financial stress, reports the Wall Street Journal, citing an internal memo and people familiar with the plan. Clients will be asked to pay a fee or move funds to other products such as money-fund sweep accounts. Retail customers are unaffected. Reference Link
February 23, 2015
11:08 EDTJPMJPMorgan weekly volatility elevated into investor day
Subscribe for More Information
08:57 EDTJPMJPMorgan to host investor day
Subscribe for More Information
February 20, 2015
06:03 EDTJPMAnn Inc. working with JPMorgan on potential sale, Bloomberg reports
Subscribe for More Information
February 19, 2015
17:58 EDTJPMAnn Inc. working with JPMorgan on potential sale, Bloomberg says
06:47 EDTJPMReport shows subprime consumer loans at pre-2007 levels, WSJ says
Equifax (EFX) has released a report stating nearly 40%, or 50M, of auto loans, credit cards, and personal loans during the first 11 months of 2014 were made to subprime customers, the highest levels since the 2007 financial crisis, reports the Wall Street Journal. LendingTree (TREE) Chief Marketing Officer Gabriel Dalporto attributes the growth to nonbank lenders under less regulatory scrutiny than large banks. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
February 18, 2015
07:21 EDTJPMJPMorgan, Citi top government report of riskiest banks, Reuters reports
Subscribe for More Information
07:15 EDTJPMPeterson Institute for International Economics to hold a discussion
Subscribe for More Information
06:57 EDTJPMJPMorgan may shrink interest-rate trading, other units, Bloomberg says
Subscribe for More Information
February 17, 2015
10:46 EDTJPMJPMorgan reports January net credit losses 2.53% vs. 2.56% last month
Subscribe for More Information
1 | 2 | all recent JPM news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use