Seeking Alpha

JPMorgan Chase & Co. (JPM)

  • Jun. 11, 2013, 1:26 PM
    "U.S. housing has turned the corner in every way, shape, or form," says Jamie Dimon (JPM), speaking at the Morgan Stanley conference. The corporate world is in great shape in terms of liquidity, and small business is kind of back to where it was, but the political environment is a "wet blanket" on the economy. On reserve releases: We don't do it to prop earnings, we're forced to do it. "I'd love to leave them up."
    | Jun. 11, 2013, 1:26 PM | 16 Comments
  • Jun. 11, 2013, 10:34 AM
    JPMorgan's (JPM) "A" credit rating outlook is revised to negative from stable at S&P, bringing things into line with other TBTFs like  Goldman and Bank of America. The catalyst is progress regulators are making on orderly liquidation plans for these giants in event of another crisis.
    | Jun. 11, 2013, 10:34 AM | Comment!
  • Jun. 11, 2013, 9:33 AM
    Bank (C, BAC, JPM, WFC) overdraft protection raises the eyebrows of the CFPB, which questions how lenders are selling this product and whether fees can really be anticipated and thus avoided. The bureau notes consumers who opt in to such programs end up paying more in costs. "What is ofter marketed as overdraft protection may actually be putting consumers at greater risk." As of yet, no action or fines have been announced.
    | Jun. 11, 2013, 9:33 AM | 7 Comments
  • Jun. 10, 2013, 3:45 AM
    Facing $31M in interest payments in August and the maturity of almost $52M in convertible debt a month later, Exide Technologies (XIDE) has filed for bankruptcy protection with liabilities of $1.14B and assets of over $1.89B. It's the lead-acid battery company's second filing in 11 years. Exide cited rising costs, Europe's slowdown and intense competition as reasons for its current problems. Exide has obtained a $500M bankruptcy loan from JPMorgan (JPM). (PR)
    | Jun. 10, 2013, 3:45 AM | 4 Comments
  • Jun. 7, 2013, 7:35 AM
    JPMorgan (JPM) is also part of Macquarie's coverage of big-cap financials and it's downgraded to Hold with price target of $57, the analysts citing the bank's lofty relative valuation. (Earlier: C, MS, BAC).
    | Jun. 7, 2013, 7:35 AM | Comment!
  • Jun. 6, 2013, 6:55 AM
    "We should all hope for a normalization of interest rates," says Jamie Dimon (JPM), speaking in China. "As we go back to normal, it's going to be scary, and it's going to be volatile ... I am going to look at every word the Fed says."
    | Jun. 6, 2013, 6:55 AM | 16 Comments
  • Jun. 6, 2013, 6:50 AM
    National Australia Bank (NABZY.PK) - Oz's largest - and Wells Fargo (WFC) are exploring a joint venture to bring Australian borrowers to the U.S. term loan B (TLB) market, reports Reuters. The TLB market is basically junk bonds, and the lucrative business is currently dominated by global banks such as JPMorgan (JPM) and Bank of America (BAC).
    | Jun. 6, 2013, 6:50 AM | 3 Comments
  • Jun. 6, 2013, 2:48 AM
    Working in partnership with the FBI and authorities in over 80 countries, Microsoft's (MSFT) Digital Crimes Unit has launched a successful attack on one of the world's biggest cyber-crime rings. Microsoft forced the closure of at least 1,000 out of an estimated 1,400 malicious networks known as Citadel Botnets, which are believed to have stolen over $500M from accounts at financial companies such as American Express (AXP), PayPal (eBay), HSBC (HBC), JPMorgan (JPM), Royal Bank of Canada (RY) and Wells Fargo (WFC).
    | Jun. 6, 2013, 2:48 AM | 6 Comments
  • Jun. 5, 2013, 7:56 AM
    More on Mortgage applications: The refinance index dove 15% to its lowest level since November 2011 as the average 30-year fixed-rate mortgage jumped 17 bps to 4.07%, the highest in more than a year. The index is now off about 40% in a month. Mortgage REITs (MORT,, REM) certainly face a few issues at the moment, but prepayment risk is no longer one of them. Struggling enough finding growth, the refinancing cash cow benefitting the big banks (WFC, BAC, JPM, C isn't producing at the moment.
    | Jun. 5, 2013, 7:56 AM | 11 Comments
  • Jun. 5, 2013, 4:42 AM
    Jefferson County in Alabama has reached a deal with its creditors that paves the way for it to exit bankruptcy in what has been the largest municipal failure in U.S. history. Under the agreement, debt-holders will receive $1.84B out of the $2.4B that they hold, with JPMorgan (JPM), the largest creditor, to take a haircut of $842M. With a number of other local governments in distress, the case is being closely watched.
    | Jun. 5, 2013, 4:42 AM | 4 Comments
  • May 31, 2013, 3:21 PM
    Large-cap banks are poised for multiple expansion, says Sterne Agee, as discussions with managements along with data points from recent investor presentations suggest business in Q2 is doing better than expectations. The team is recommending a basket of C, JPM, MS, and GS. In a similar vein, they like a basket of "discounted regionals" - PNC, MTB, RF, USB, and STI.
    | May 31, 2013, 3:21 PM | Comment!
  • May 28, 2013, 6:52 AM
    JPMorgan (JPM) looks to further build its hedge fund business in Asia, hiring David Leahy from Credit Suisse (CS) as managing director and head of Asia-Pacific prime services sales, reports the WSJ. He previously had similar duties for EMEA at Credit Suisse.
    | May 28, 2013, 6:52 AM | Comment!
  • May 24, 2013, 2:11 PM
    There is growing evidence Bank of America (BAC), JPMorgan (JPM), Citigroup (C), and Ally Financial violated the terms of the mortgage servicing abuse settlement, according to NY AG Schneiderman. In a letter to the settlement monitor (obtained by Reuters), Schneirderman says other states "have identified similar recurring deficiencies." The AG considers the letter to have started the clock on a "waiting period" necessary before a lawsuit may be filed.
    | May 24, 2013, 2:11 PM | 17 Comments
  • May 24, 2013, 8:33 AM
    What's Fannie Mae (FNMA.OB) up to? It's snatching profits away from banks as it increasingly purchases loans directly from lenders, cutting out those used to making good money by packaging mortgages into securities. "We don't play this big of a role because we want to," modestly says CEO Tim Mayopoulos. "(We have) no goal relative to market share, except to reduce it," says another spokesman. The lenders (JPM, WFC) seeing profits vanish aren't so sure.
    | May 24, 2013, 8:33 AM | 13 Comments
  • May 23, 2013, 7:35 AM
    Following Dimon's big victory, it's back to business at JPMorgan (JPM) and a subsidiary - JPMorgan International Bank - is today fined £3.1M (not a typo) by U.K. authorities for systems and controls failings related to its provision of retail-investment advice and portfolio-investment services. Shares -1.2% premarket, inline with the broader market swoon.
    | May 23, 2013, 7:35 AM | Comment!
  • May 22, 2013, 3:04 PM
    Don't look for immediate changes to JPMorgan's (JPM +1.6%) board, according to bank sources, following lead director Lee Raymond's hint to "stay tuned" at yesterday's annual meeting. Three of the bank's 4 risk committee members squeaked by with less than 60% of the vote. The stock hits a 52-week high today as investors applaud shareholders backing away from the ledge by not coming anywhere near separating the Chairman and CEO roles.
    | May 22, 2013, 3:04 PM | Comment!
Company Description
JPMorgan Chase & Co is a financial services firm and a banking institution. its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset Management.
Sector: Financial
Country: United States