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JPMorgan Chase & Co. (JPM)

  • Feb. 15, 2013, 7:38 AM
    "The Goldilocks era of post-crisis M&A has never been an if, but a when," says JPMorgan (JPM) vice-chair James Lee. "CEOs are declaring that day has come." Including the Berkshire buy, $40B in deals were announced yesterday and $140B this month. Transaction volume is up 27% Y/Y vs. an 8% slump for 2012. It should mean sweet profits for the newly lean banks.
  • Feb. 14, 2013, 2:50 PM
    JPMorgan (JPM) has about 2 dozen fewer employees in its U.S equity trading unit - some leaving after small bonuses, others cut - amid declining revenue (down 1.8% in 2012). Among those gone are 3 managing directors and 18 executive directors.
  • Feb. 13, 2013, 7:45 AM
    Are more gains in store for the banks after the President last night gave a push to the stalled Menendez-Boxer bill which would streamline the refinancing process for Fannie and Freddie borrowers? BAC +0.9%, C +0.3%, JPM +0.5% premarket (no trades for WFC).
  • Feb. 12, 2013, 5:43 AM
    While the growth of mobile payments is slower than expected, mobile banking is taking off and "has caught the industry off guard," says Boston consultant Robert Hedges. Such banking accounts for roughly 8% of transactions vs 53% for regular online banking and 14% for branches. JPMorgan (JPM), for example, has 13M customers who use its mobile services, which have become a "core experience."
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  • Feb. 7, 2013, 7:29 AM
    "Generally speaking, emails are great for lawyers," said Charlie Munger yesterday. JPMorgan (JPM) emails released as part of an MBS lawsuit show the bank (along with WAMU and Bear Stearns) systematically papering over, rather than disclosing things like fraudulent appraisals and unworthy borrowers on home mortgages. A great look into how the sausage got made.
  • Feb. 6, 2013, 9:29 AM
    MBIA (MBI) gains 6.7% after Judge Rakoff issues what may be a precedent-setting ruling in Assured Guaranty vs. Flagstar. The ruling - says a lawyer - puts to rest the main argument MBS originators like BofA and JPMorgan have put forth to counter insurers' claims their breaches of representations and warranties did not cause losses. BAC and JPM both down about 1% premarket.
  • Feb. 6, 2013, 9:05 AM
    JPMorgan (JPM) reportedly cut investment banker pay by only 3% in 2012, far less than the double-digit amount some had been braced for. This comes as M&A fees fell 17% and equity underwriting fees fell 13% last year.
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  • Feb. 4, 2013, 5:17 PM
    TD Ameritrade's Investor Movement Index declined to 4.71 in January, but continues to reflect bullish positioning, say the report authors. Among the stocks seeing net buying activity on dips were AAPL, T, INTC, MSFT, and BAC. Sold on the rips were DELL, C, JPM, ORCL, and LVS. Momentum stocks continuing to be bought were FB and DDD.
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  • Jan. 31, 2013, 5:07 AM
    KKR (KKR), JPMorgan's (JPM) Gavea Investimentos and Apax Partners are among those reportedly joining up to bid for Vivendi's GVT phone unit in Brazil, putting them in competition with DirecTV (DTV). The group may offer up to €5B, although that's well below Vivendi's asking price of €8B. DirecTV could be more willing to make a proposal that's closer to Vivendi's figure, due to the synergies the deal would bring.
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  • Jan. 30, 2013, 5:12 AM
    JPMorgan's (JPM) investment bank reportedly took relatively small but opposite positions to the CIO's office in the latter's $6.2B trading fiasco. JPM managers spoke about combining the two positions to help offset the losses prior to the CIO  trades becoming public. "London Whale" Bruno Iksil and boss Javier Martin-Artajo complained internally about the investment bank in the spring of 2012 and accused it of intentionally trying to move the market against the CIO's positions.
  • Jan. 29, 2013, 12:00 PM
    Now with Rafferty Capital Markets after Rochdale Securities blew up last year, Dick Bove remains bullish on the banks, seeing 30% upside in BAC, C, and JPM over the next 12 months. Bove says he's making a contrarian call, but needs to be reminded it's not 2011 anymore. Nobody doubts the survival of the big names and most of his favorites have posted big gains of late.
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  • Jan. 27, 2013, 3:42 AM
    JPMorgan (JPM) Chief Risk Officer John Hogan, who took up the post three months before the $6.2B London Whaling loss was disclosed, has gone on temporary leave until the summer for what are apparently personal reasons. An internal report into the loss said Hogan "did not have sufficient time to ensure that the CIO risk organization was operating as it should." However, there were opportunities during H1 2012 "when further inquiry might have uncovered issues earlier."
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  • Jan. 25, 2013, 1:02 PM
    JPMorgan (JPM) is upgraded to Buy at Deutsche Bank with price target of $53. The stock has had a nice run since the London Whale blowup hit the shares, but relative to the other TBTFs has lagged by 30%. That's about to change, says Matthew O'Connor, as the bank is best-positioned for a pickup in consumer loan growth.
  • Jan. 23, 2013, 3:26 PM
    GE settles (no terms announced) a FHFA lawsuit accusing it of misleading Freddie Mac into buying $549M of MBS during the housing boom. The settlement is the first in a series of suits brought by the FHFA against last cycle's big lenders. The bid daddies here are the suits against BofA (BAC) and JPM. Look for settlements over the next year.
  • Jan. 17, 2013, 5:35 AM
    Dallas Fed President Richard Fisher yesterday called for the break up of a dozen too-big-to-fail banks, each with assets of over $250B. While Fisher didn't name all 12, he showed a presentation slide with a list of the top five banks: JPMorgan (JPM), Bank of America (BAC), Goldman Sachs (GS), Citigroup (C) and Morgan Stanley (MS). Fisher believes his position is receiving rising support in the Fed and Congress.
  • Jan. 16, 2013, 4:59 PM
    The U.S. Treasury plans to sell 200M General Motors (GM) shares, valued at about $5.5B, back to the auto maker. The announcement of the share sale was made back in December, and once completed will leave the Treasury with 300M shares remaining. JPMorgan (JPM) and Citigroup (C) have been tapped to make the sale.
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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