JPMorgan (JPM) will restate Q1 results, cutting net income by $459M, because of the CIO loss. (8-K)

JPMorgan (JPM) will restate Q1 results, cutting net income by $459M, because of the CIO loss. (8-K)
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Comments (7)
  • 7footMoose
    , contributor
    Comments (2229) | Send Message
    Let them clean house and beginning in the next quarter maybe we can actually see how profitable JPM can be without all of the games.
    13 Jul 2012, 06:51 AM Reply Like
  • youngman442002
    , contributor
    Comments (5123) | Send Message
    The Casino is still open and operating...big time...
    13 Jul 2012, 07:25 AM Reply Like
    , contributor
    Comments (10765) | Send Message
    There is no "reality" when it comes to JPM. This firm is an extension of the US Treasury and the Fed. To understand JPM is like trying to understand the Defense Budget without considering Area 51? Heck, there is probably a unmarked bus and an unmarked airplane that bring Quant workers to JPM every morning and take them home every night. (PS. There have been rumors that Elvis was seen there along with Jon Corzine)
    13 Jul 2012, 01:16 PM Reply Like
  • untrusting investor
    , contributor
    Comments (9904) | Send Message
    That's probably pretty close to the real truth.
    14 Jul 2012, 12:22 AM Reply Like
  • change is the only constant
    , contributor
    Comments (2028) | Send Message
    This is fishy. If they are now accounting for losses (in quarters where the loss actually occurred) you see how mark to market results (when in effect) change the "rules". Not using mark to market means how many open issues dangle when extraordinary losses (which must be mated to revenues) occur. If everything was (or not) accounted for in this quarter, what would the numbers be..... is this really a miss?
    13 Jul 2012, 08:04 AM Reply Like
  • bbro
    , contributor
    Comments (10928) | Send Message
    Tangible common equity per share...35.71...with a 3.5% dividend,,,,,always look
    to see if the tangible common equity per share is increasing or decreasing...
    13 Jul 2012, 08:39 AM Reply Like
  • freefdawatchlist
    , contributor
    Comments (24) | Send Message
    If it had been other company, C, WFC, GS and JPM all could have come running to downgrade the company and stock prices could have tumbled 20% but jpm rallied.

    14 Jul 2012, 02:24 PM Reply Like
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