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JPMorgan Chase & Co. (JPM)

  • Jun. 23, 2010, 10:13 AM
    Senate negotiators are expected to offer changes today that would soften the Volcker rule by allowing banks to sponsor hedge funds and invest their own money, within limits, alongside that of clients. JPMorgan Chase (JPM) and Citigroup (C) are said to be the hardest hit among the biggest banks, Morgan Stanley (MS) and Goldman Sachs (GS) the least affected.
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  • Jun. 22, 2010, 2:53 PM
    Some of the stocks - Apple (AAPL), GE (GE), JPMorgan Chase (JPM) and dozens more - most commonly held by average investors are also those most often used in high-frequency trading and thus subject to high levels of volatility, according to a study by BNY ConvergEx Group.
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  • Jun. 22, 2010, 10:52 AM
    JPMorgan Chase (JPM) taps Doug Braunstein as its new CFO to replace Michael Cavanaugh, who himself will be heading Treasury and Securities Services, replacing Heidi Miller, now the newly created president of JPMorgan International - all likely part of a succession plan: Miller is "someone who has the capability of staring Jamie Dimon down, so that’s obviously served her well."
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  • Jun. 21, 2010, 11:10 AM
    More from a crowded Supreme Court docket: The court will hear an appeal on whether Chase (JPM) can be sued for certain credit-card rate changes, a Johnson & Johnson (JNJ) unit loses its appeal to stop a suit alleging kickbacks to prescribe its anemia drug, and Wyeth (PFE) fails to block a new trial on an woman's claims that her hormone therapy drugs caused her breast cancer.
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  • Jun. 21, 2010, 10:54 AM
    A JPMorgan Chase (JPM) deal to buy the Spanish ports of ACS (ACSAF.PK) unit Dragados reportedly could come in at €700M-800M, depending on debt financing. Infrastructure deals like this one have struggled in the downturn.
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  • Jun. 21, 2010, 8:34 AM
    JPMorgan (JPM) is said to be in advanced talks to buy Brazilian hedge fund and P-E group Gavea Investimentos. The deal could still collapse, but the fact that JPMorgan is pursuing it at all is a bet that the final financial reform bill won't prevent banks from owning hedge funds.
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  • Jun. 17, 2010, 5:20 PM
    Once "Obama's favorite banker," Jamie Dimon can’t even get a seat at the president’s recent state dinner, and JPMorgan Chase (JPM) is leading Wall Street’s pushback on new derivatives regulations. Dimon now views the proposals to overhaul financial rules as punitive and harmful: "There are good banks and bad banks just like there are good politicians and bad politicians, and I’m not going to sit here and accept that somehow it’s OK."
  • Jun. 17, 2010, 8:00 AM
    JPMorgan (JPM) gets EU regulatory clearance for its $1.7B planned purchase of the RBS Sempra's (RBS, SRE) non-U.S. commodities assets. The European Commission expects the combined company to face strong rivals with significant market shares.
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  • Jun. 16, 2010, 5:50 PM
    U.S. banks will foot a $2B bill in their Q2 results to pay for the U.K. tax on bankers’ bonuses, a charge that could significantly reduce earnings at some major financial groups, FT reports. Analysts say the tax will be a negative factor when banks report results for the April-June period, reducing EPS at Citigroup (C), JPMorgan (JPM) and BofA (BAC) by 10% or more.
  • Jun. 15, 2010, 3:46 PM
    Credit card lenders are trading higher after several reported lower monthly delinquency rates in May. American Express (AXP +4.2%), Capital One (COF +4.9%), Discover (DFS +3.9%) and JPMorgan Chase (JPM +2.3%) each reported 30-day delinquencies down roughly 3%-5% from April.
  • Jun. 11, 2010, 2:48 PM
    Lions Gate (LGF -0.3%) is in talks with its lenders to waive or amend its credit facilities to prevent a default. "This will resolve an issue that [Carl] Icahn is trying to create," it says in a statement. If Mark Cuban sells his 5.4% stake in Lions Gate to Icahn, Icahn's stake would surpass 20%, which could trigger a technical default in the $340M revolving loan facility from JPMorgan Chase (JPM -1.1%).
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  • Jun. 11, 2010, 1:46 PM
    JPMorgan Securities (JPM) gets solid demand for its $716M CMBS conduit sale - the largest in the commercial mortgage-backed market in two years - though investors demanded larger spreads for longer maturities and lower-rated tranches.
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  • Jun. 11, 2010, 10:18 AM
    Sources say Morgan Stanley (MS +0.7%) and JPMorgan Chase (JPM -0.9%) are expected to win the lead underwriting roles for General Motors' initial public offering, which could be one of the biggest underwriting deals of the last five years.
  • Jun. 9, 2010, 12:26 PM
    Bank of America (BAC), JPMorgan Chase (JPM) and Wells Fargo (WFC) could write off a combined $31.2B in home-equity loans this year in a worst-case scenario from Fitch Ratings. Twenty publicly traded banks (including those three) could charge off $40.9B this year, and a total of $76.7B through 2011.
  • Jun. 9, 2010, 9:07 AM
    JPMorgan Chase (JPM) forms a joint venture with China's First Capital Securities Co., laying the groundwork to underwrite share sales in China's booming securities market. The agreement will give the U.S. group a one-third stake in the venture. JPM +0.7% premarket.
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  • Jun. 8, 2010, 3:33 PM
    Dick Bove thinks JPMorgan Chase (JPM +1.5%) is especially vulnerable to coming new regulations but he still considers the bank a buy on a longer time horizon. A change in the law involving derivatives could knock 10% off earnings, he says, but the stock is very cheap relative to its book value, meriting the buy recommendation.
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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