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JPM’s Q3 results in investment banking and trading were impressive, a good sign for...

JPM’s Q3 results in investment banking and trading were impressive, a good sign for Goldman Sachs (GS), Morgan Stanley (MS) and perhaps BofA (BAC), KBW's Fred Cannon says: "The upside on the read-across leads us to believe BAC will post a beat to the Street in the quarter and gives us increased confidence around our $0.15 operating estimate."
Comments (2)
  • I think we are seeing a near end to the red ink. I expect operating results to be positive but all the charge offs could make it an overall loss. For BAC the recent settlement for the Merrill suit could be impossible to hide in the results. A dividend increase would be a surprise - maybe next year. Profits from Fed squeeze on the mortgage debt market would make mortgage profits decline. Competition from lenders should lower mortgage rates further to stimulate housing but any benefit to the bottom line could take another year maybe two.
    13 Oct 2012, 07:38 AM Reply Like
  • took some gs profits today at 123.77
    15 Oct 2012, 12:52 PM Reply Like
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