111.18 -0.10 (-0.09%)
After hours: 5:27PM EDT
|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||109.78 - 111.74|
|52-week range||88.08 - 119.33|
|PE ratio (TTM)||15.86|
|Earnings date||12 Oct 2018|
|Forward dividend & yield||2.24 (2.15%)|
|1y target est||121.75|
NEW YORK (AP) — U.S. stocks inched lower Friday as bond yields jumped, a shift that helped banks but hurt companies that pay big dividends. The dollar fell after President Donald Trump said China is manipulating its currency.
Another Wall Street veteran of the financial crisis is stepping aside: Lloyd Blankfein is retiring as CEO of Goldman Sachs after 12 years at the helm of the storied investment bank. Blankfein will give way to David Solomon, a long-time Goldman executive who has been considered Blankfein's chosen successor since earlier this year. Solomon will assume the CEO role from Blankfein on Oct. 1 and become chairman of Goldman in 2019.
JPMorgan Chase & Co. is finally gaining ground in the competitive ETF landscape with its BetaBuilder brand. On Friday, two of the lender’s exchange-traded funds -- the JPMorgan BetaBuilders Japan ETF, or BBJP, and the JPMorgan BetaBuilders Europe ETF, or BBEU -- saw strong inflows last week after stagnating since their inception last month. The Japan fund took in $654 million, while the Europe one absorbed $187 million over the five days ended July 13, both of which are records, albeit over a very short time frame.
JPMorgan Chase & Co. has joined the chorus of Wall Street banks warning emerging-market investors not to underestimate growing global protectionism. Trade wars are morphing from a tail risk to the base case, Luis Oganes and Jonny Goulden, strategists at the New York lender, said in a note. Morgan Stanley and Goldman Sachs Group Inc. are similarly bearish.
Bank stock JPMorgan and many others were depressed for months ahead of the 2016 presidential election. That provided time for a long-term chart pattern called a saucer to form.
Banks have been a disappointment to the bulls. So far this year, the money center group is down 7% vs. gains of 14% and 5% for the Nasdaq and the S&P 500 respectively.
JPMorgan Chase's second-quarter profits rose by 18 percent from a year ago, as the nation's largest bank by assets and revenue continues to benefit from higher interest rates and a lower tax bill following last year's passage of President Donald Trump's tax law. JPMorgan said Friday that it earned $8.32 billion in the first quarter, or $2.29 a share, up from $7.03 billion, or $1.82 a share, in the same period a year earlier. JPMorgan CEO Jamie Dimon told reporters in a call on Friday that the trade dispute "is a worry, and hopefully gets resolved," but said it's not impacting business decisions to borrow or invest yet.
U.S. bank stocks are hurting after disappointing second-quarter results from Wells Fargo and Citigroup, and as JPMorgan’s earnings beat wasn’t enough to boost investor confidence. The KBW bank index is down as much as 1.9 percent, the most intraday since June 25, led by a decline of as much as 3.3 percent in Citigroup, the most since May 29, and a slide of as much as 4.3 percent in Wells Fargo, the most since March 22. JPMorgan was little changed after dropping as much as 1.6 percent.
JPMorgan Chase (JPM) is the standout among the three bank giants that reported second-quarter earnings today as it exceeded expectations while warning of tougher competitive conditions. JPMorgan shares were up 0.9%, to $106.96. Both Citigroup (C) and Wells Fargo (WFC) are trading lower today as investors react to some company-specific issues, including credit cards at Citigroup and home mortgages at Wells Fargo.
U.S. banks kicked off the second-quarter earnings season with reports from JPMorgan Chase & Co., Citigroup Inc., and Wells Fargo & Co. Bloomberg's Laura Keller examines the results on "Bloomberg Markets." ...
JPMorgan's (JPM) Q2 earnings reflect benefits from strong fundamentals, loan growth and lower tax rate. Surprising increase in trading revenues cheers investors.
Citigroup's second-quarter profits jumped 16 percent from a year earlier, the bank said Friday, helped by a much lower tax bill and higher revenue earned on loans and interest. Citigroup said it earned $4.49 billion, up from $3.87 billion a year ago. On a per-share basis, Citi earned $1.63 a share, compared with $1.28 a share a year earlier.
Big bank shares are dropping in pre-market trading, with Citigroup down about 1.7 percent and Wells Fargo sinking 3.2 percent. Wells Fargo is once again the ugliest of the big banks, after loans and deposits fell as the Federal Reserve’s asset cap started to bite. Citigroup second-quarter EPS beat, helped by a drop in the share count after buybacks, although fixed income markets revenue missed estimates and the cost of credit rose.
Jamie Dimon, CEO of JPMorgan Chase & Co., declared in early June that we were entering a golden age of banking. Global trade concerns, too, may be making JPMorgan’s glowing results look a little less shiny. JPMorgan’s equity traders matched their very good first quarter, rising 24 percent, which was again better than expected.
Net income in the institutional clients group was 17 per cent higher at $3.2bn. The global consumer-banking side of Citi’s business was solid across the board, seeing modest rises in revenues across all regions and a 14 per cent rise in net income to $1.3bn. Much of the overall rise in net income came from the big tax-reform package at the end of last year, which cut Citi’s effective tax rate from 32 per cent during the second quarter last year to 24 per cent this time.
JPMorgan Chase (JPM) beat the EPS estimates of $2.22 in the second quarter and posted an EPS of $2.29—25.8% growth on a YoY (year-over-year) basis. The bank benefited from loan book expansion, which resulted in net interest income growth of 9% and non-interest income growth of 4%. In line with the expectations, JPMorgan Chase’s revenues and net income declined sequentially due to weaker trading revenues partially offset by growth in the community banking, commercial banking, and asset management businesses.
JPMorgan Chase kicked off the Wall Street earnings season with strong second-quarter results that will provide reassurance to investors who have sold off shares in the big US banks over the past six months. The New York-based bank, which has $2.6tn in assets on its balance sheet, reported revenue of $27.7bn and earnings per share of $2.29, up 6 per cent and 26 per cent from a year ago, respectively. The consensus estimate among analysts had been for revenue of $27.6bn and EPS of $2.22.