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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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July 29, 2014
11:12 EDTJPMJPMorgan reducing tech support headcount, Bloomberg says
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09:57 EDTJPMJPMorgan cutting hundreds of tech support employees, Bloomberg reports
July 28, 2014
07:01 EDTJPMSankaty to acquire JPMorgan Global Special Opportunities Group portfolio
Sankaty Advisors, LLC, the independently managed credit affiliate of Bain Capital, announced the signing of a definitive agreement to acquire a portfolio of loans and other securities from J.P. Morgan’s Global Special Opportunities Group. The portfolio contains mezzanine loans in North America and Europe, as well as loans and related special situations investments in Australia and across Asia, with an aggregate value of approximately $1.3B. This acquisition follows Sankaty Advisors' other recent purchases of loan portfolios from Irish Bank Resolution Capital, Lloyds Banking Group and CapitalSource. The transaction, which is expected to close by the end of 2014, is subject to borrower and regulatory approvals. Kirkland & Ellis, LLP served as legal counsel to Sankaty Advisors. J.P. Morgan advised on the sale and Davis Polk & Wardwell, LLP served as legal counsel to JPMorgan Chase. This transaction is not expected to have a material impact on JPMorgan Chase’s earnings.
06:36 EDTJPMJPMorgan to sell debt portfolio to Sankaty for $1B, FT reports
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06:35 EDTJPMJPMorgan questoined by regulators for conclicts of interest, WSJ says
JPMorgan has been recently questioned by regulators about whether the firm steers private-banking clients to its own investment products, reports the Wall Street Journal. According to people familiar with the matter, the questions have prompted JPMorgan to change its disclosures to private-banking clients about the differences between its own products and outside offerings. Reference Link
06:25 EDTJPMJPMorgan implied volatility of 14 at lower end of index mean range
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July 24, 2014
07:00 EDTJPMJudge dismisses JPMorgan case regarding Madoff scheme, Reuters says
U.S. Federal Judge Paul Crotty made a ruling that dismissed a shareholder's case which claimed JPMorgan board members knew about Bernard Madoff's Ponzi scheme and didn't acknowledge red flags motioning towards fraud, according to Reuters, citing the lawsuit. Reference Link
July 22, 2014
19:34 EDTJPMJPMorgan in advanced talks to sell half its stake in buyout arm, WSJ says
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07:30 EDTJPMJPMorgan creating new multi-class electronic-trading group, WSJ says
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July 21, 2014
10:02 EDTJPMOn The Fly: Analyst Upgrade Summary
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09:38 EDTJPMActive equity options trading on open
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08:41 EDTJPMJPMorgan upgraded to Outperform from Market Perform at FBR Capital
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07:50 EDTJPMJPMorgan upgraded to Outperform from Market Perform at FBR Capital
07:29 EDTJPMAIG settlement with BofA takes crisis claw back total up to $2B, FT says
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07:12 EDTJPMCFA Institute to hold a seminar
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July 18, 2014
16:47 EDTJPMMarket ends week higher as earnings, M&A offset geopolitical tensions
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13:02 EDTJPMGoldman, JPMorgan ready with $25B bridge loan for Time Warner takeover by Fox
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July 17, 2014
16:22 EDTJPMJPMorgan awards CEO Dimon 2M crisis-era stock options
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