After popping higher on the headline number beat, JPMorgan (JPM) turns south as closer analysis...


After popping higher on the headline number beat, JPMorgan (JPM) turns south as closer analysis reveals $0.29 of profit was debt valuation adjustment. Without that, JPM would have reported earnings of just $0.73, a large miss. Shares -2% premarket.

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Comments (3)
  • Perkins Cove
    , contributor
    Comments (638) | Send Message
     
    Thanks for the heads up!

     

    The S&P 500 is overbought, and needed something like this to go south for the next leg down in the range. This may be the "turn".
    13 Oct 2011, 07:52 AM Reply Like
  • SA Editor Stephen Alpher
    , contributor
    Comments (560) | Send Message
     
    I wouldn't get too excited. Even after a nice run over the past few sessions, JPM shares still seem to be discounting a lot of bad news.
    13 Oct 2011, 07:54 AM Reply Like
  • bbro
    , contributor
    Comments (10935) | Send Message
     
    If you look at the balance sheet...JPM is truly a fortress balance sheet...
    13 Oct 2011, 08:19 AM Reply Like
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