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JPMorgan Chase & Co. (JPM)

  • 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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  • Jan. 16, 2013, 9:33 AM
    Stock buybacks are downgraded from a "no-brainer" to a "pretty good deal" by Jamie Dimon (JPM -1.2%) as the share price of $46.35 is now 20% higher than tangible book value of $38.75. Still, book value grew 15% last year - at that pace, buybacks over time will still be accretive. (earnings)
  • Jan. 16, 2013, 9:22 AM
    Growth is everywhere, says Jamie Dimon (JPM) on the bank's earnings call, but some negatives like net interest margins remain. These will "reverse over time." Continued "spread compression" is expected to knock $400M off of Consumer & Business banking profit in 2013. The London Whale continues to wind down, with $300M in losses expected in Q1. (Investor presentation)
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  • Jan. 16, 2013, 7:19 AM
    More on JPMorgan (JPM) Q4 earnings: Net deposit margin of 2.44% vs. 2.56% last quarter, 2.76% a year ago. Consumer and Business banking revenues +10.4% Y/Y, mostly from mortgage banking where revenue was up about 50%. Investment Bank revenue +21% Y/Y, including a $567M DVA loss. Allowance for credit losses cut by $700M (total income of $5.7B). Tier 1 capital ratio of 11%, up from 10.4% in Q3. Shares -1.5% premarket. (PR)
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  • Jan. 16, 2013, 7:02 AM
    JPMorgan Chase (JPM): Q4 EPS of $1.39 beats by $0.18. Revenue of $24.4B misses by $0.16B. (PR)
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  • Jan. 16, 2013, 3:15 AM
    Ahead of its Q4 results today, JPMorgan's (JPM) board has reportedly voted to release an internal report about the bank's $6.2B London Whaling loss. The study criticizes JPM's lax supervision and risk controls, as well as CEO Jamie Dimon, former CFO Douglas Braunstein and other execs. Some at JPM are wary of publishing the report, as it could provide ammunition to plaintiff lawyers, although Dimon argued for its release. (Previously)
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  • Jan. 16, 2013, 12:05 AM
    Notable earnings before Wednesday’s open: BK, CMA, FRC, GS, JPM, MTB, NTRS, SCHW, USB, WEN
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  • Jan. 15, 2013, 5:30 PM
    Notable earnings before Wednesday’s open: BK, CMA, FRC, GS, JPM, MTB, NTRS, SCHW, USB, WEN
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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