JPM posts
FeedPosted Oct 26th 2009 3:40PM by Zac Bissonnette (RSS feed)
Filed under: JPMorgan Chase (JPM), Bank of America (BAC), Financial Crisis

The rally in the stock market and the return to profitability for some of the top banks has been hailed as a sign of a turnaround -- and proof that the interventionist financial policies of the past year worked.
But not so fast. In reality, a huge chunk of the profits banks are earnings can be directly attributed to their ability to borrow money at artificially low interest rates.
According to a report from the Center for Economic and Policy Research found that below market interest rates offered by The Federal Reserve accounted for 41% of JPMorgan's profits. At Bank of America, the number was 47%.
Continue reading Bank profits come directly out of your pocket
Posted Oct 17th 2009 2:40PM by Trey Thoelcke (RSS feed)
Filed under: Earnings reports, Google (GOOG), General Electric (GE), Intel (INTC), International Business Machines (IBM), Nokia Corp. (NOK), Citigroup Inc. (C), Johnson and Johnson (JNJ), JPMorgan Chase (JPM), Advanced Micro Dev (AMD), Abbott Laboratories (ABT), Bank of America (BAC), Domino's Pizza (DPZ), Goldman Sachs Group (GS), Mattel, Inc (MAT), Allegheny Technologies (ATI), Harley-Davidson (HOG)
Continue reading Earnings highlights: C, GE, GOOG, HOG, INTC, IBM, JNJ, JPM, MAT, NOK ...
Posted Oct 17th 2009 11:40AM by Steven Mallas (RSS feed)
Filed under: Earnings reports, Citigroup Inc. (C), JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs Group (GS), Financial Crisis
I don't think anyone could have had a positive reaction to Bank of America's (NYSE: BAC) third-quarter report, which was released on Friday. According to Bloomberg, management lost $1 billion in the past three months. Big ouch on that one. The financial institution bled 26 cents per diluted share. No earnings beat here, either. Wall Street sent shares down 4.6% by the end of yesterday's trading session.
The year-ago period was a happier time. Back then, Bank of America was rolling in the dough, posting a profit of 15 cents per share. What a difference 12 months makes. Looking at the nine-month record perhaps gives a small amount of comfort to shareholders. The company made 39 cents per diluted share. Of course, that doesn't sit too well next to the $1.09 per diluted share booked in the comparable period. But at least it's not a loss, know what I mean?
Continue reading Bank of America loses a lot of money in Q3
Posted Oct 11th 2009 12:30PM by Trey Thoelcke (RSS feed)
Filed under: Earnings reports, Forecasts, Google (GOOG), International Business Machines (IBM), JPMorgan Chase (JPM), Abbott Laboratories (ABT), Bank of America (BAC), Goldman Sachs Group (GS)
Goldman Sachs upgraded the banking sector last week, and this coming week we'll get a chance to see whether Goldman and other big banks reporting third quarter results will live up to the expectations of analysts surveyed by Thomson Reuters.
New York-based Goldman Sachs Group Inc. (NYSE: GS) looks set to be this week's earnings game winner. Analysts expect this dividend-paying company to report a third-quarter profit of $4.24 per share, which is 57.3% higher than in the same period of last year. Revenue for the period that ended in September is expected to be $11.0 billion. So far, the full-year forecast is for $17.74 per share on $44.6 billion.
Continue reading Week in preview: Goldman Sachs, JPMorgan, Google, IBM and more earnings
Posted Oct 9th 2009 11:50AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Analyst upgrades and downgrades, Viacom (VIA), JPMorgan Chase (JPM), Bristol-Myers Squibb (BMY), Dean Foods (DF), Research in Motion (RIMM), Starwood Hotels Worldwide (HOT), Marriott Intl'A' (MAR), Analyst initiations
Analyst upgrades:
- Piper Jaffray upgraded Viacom (NYSE:VIA) to Overweight from Neutral to reflect the improving ad market and better ratings at key cable networks. The firm raised its target on shares to $35 from $29.
- Baird upgraded Research in Motion (NASDAQ:RIMM) to Outperform from Neutral on valuation as it views the recent weakness as a buying opportunity. The firm keeps an $84 price target on shares.
- Jefferies upgraded Usana (NASDAQ:USNA) to Buy from Hold as it believes direct selling companies have been gaining momentum. The firm raised its target on shares to $44 from $37.
- AK Steel (NYSE:AKS) was upgraded to Buy from Hold at Deutsche Bank.
- First Merit (NASDAQ:FMER) was upgraded to Perform from Underperform at Oppenheimer.
- Spectra Energy (NYSE:SE) was upgraded to Conviction Buy from Neutral at Goldman.
Continue reading Analyst upgrades, downgrades and initiations: VIA, RIMM, ARO, JPM, BMY
Posted Oct 6th 2009 9:00AM by Jim Cramer (RSS feed)
Filed under: Google (GOOG), Apple Inc (AAPL), Market matters, JPMorgan Chase (JPM), Research in Motion (RIMM), Goldman Sachs Group (GS), QUALCOMM Inc (QCOM), Oil, Stocks to Buy, Cramer on BloggingStocks
TheStreet.com's Jim Cramer is not convinced that what was bad a week ago has suddenly turned good. Feels almost too good to be true. Once again, did we dodge the more than 3% to 5% decline? Once again have we put the trouble behind us? Did we have just enough October scare to inoculate?
I remember a week ago thinking there weren't enough "October's the roughest month" articles perhaps because those who wrote the "sell in May" and "sell in September" pieces felt chastised. I thought that the word had come from editors on high-stop being so bearish already.
But then by Thursday we were all well aware of the power of Rocktober and next thing you know people were whispering crash by Friday.
Continue reading Cramer on BloggingStocks: Can't trust a market too good to be true
Posted Sep 30th 2009 3:30PM by Tom Taulli (RSS feed)
Filed under: Citigroup Inc. (C), JPMorgan Chase (JPM), Goldman Sachs Group (GS), Morgan Stanley (MS), Initial public offerings

Last week, we saw
Shanda Games Ltd. (NASDAQ:
GAME) raise a cool $1 billion in
its IPO.
And today, there was another big-time offering: Talecris Biotherapeutics Holdings
picked up $950 in its IPO (issuing 50 million shares at $19 each). This is the second largest IPO of 2009.
Talecris is one of the largest producers/marketers of plasma-derived protein therapies, dealing with things like chronic inflammatory demyelinating polyneuropathy (CIDP), primary immune deficiencies (PI), alpha-1 antitrypsin deficiency, bleeding disorders, and severe trauma.
Continue reading Talecris: Another mega IPO hits the markets
Posted Sep 24th 2009 4:00PM by Douglas McIntyre (RSS feed)
Filed under: After the bell, Major movement, General Electric (GE), JPMorgan Chase (JPM), Bank of America (BAC), Wells Fargo (WFC), S and P 500, DJIA, NASDAQ
The market seems to want to go up each day as it has relentlessly almost every trading session since April. But yesterday, it had a tiny setback after the FOMC announcement. Today the culprit was housing. The National Association of Realtors said existing home sales declined 2.7% in August. Every economist worth his salt said the number would rise.
Good news on the unemployment front did give the market an early boost this morning. Within an hour, though, bad news on the housing sales front wiped out the gains and moved the major indices into negative territory, where they have remained.
Here were today's unofficial closing numbers:
Dow 9,706.99 -41.56 (-0.43%)
S&P 500 1,050.78 -10.09 (-0.95%)
Nasdaq 2,107.61 -23.81 (-1.12%)
Continue reading Closing bell: home sales don't help (AONE, BAC, WFC, GE, CHTP, JPM)
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