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Goldman Sachs Reiterates Buy on J.P. Morgan Chase (JPM)
Thursday, April 14, 2011 - 8:19am | 101Goldman Sachs is out with its report today on J.P. Morgan Chase (NYSE: JPM), reiterating Buy. In a note to clients, Goldman Sachs writes, "We reiterate our CL-Buy as we continue to believe the market is under-appreciating the $6+ of earnings power the franchise is capable of. With its shares...
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Morgan Stanley Reports Strong Quarter From JPM
Thursday, April 14, 2011 - 7:46am | 129Morgan Stanley has raised its EPS estimates and is maintaining its Overweight rating and $61 price target after J.P. Morgan Chase & Co. (NYSE: JPM) showed another strong quarter. In the report, Morgan Stanley writes, “Several underlying trends that together show JPM's drive to grow quality...
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Morgan Stanley Reports Strong Quarter From JPM
Thursday, April 14, 2011 - 7:46am | 129Morgan Stanley has raised its EPS estimates and is maintaining its Overweight rating and $61 price target after J.P. Morgan Chase & Co. (NYSE: JPM) showed another strong quarter. In the report, Morgan Stanley writes, “Several underlying trends that together show JPM's drive to grow quality...
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Citi Reports Strong Investment Bank Results For JP Morgan Chase & Co
Thursday, April 14, 2011 - 7:24am | 102According to Citi, JP Morgan Chase & Co (NYSE: JPM) reported 1Q11 EPS of $1.28 vs its $1.33 estimate and consensus of $1.16. Citi reported that core PTPP of $11.6 billion came in ~$400 million better than its expectations driven by strong performance in the I-Bank, offset by modest weakness...
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Market Focused on Tomorrow's Data 04-13-2011
Wednesday, April 13, 2011 - 6:46pm | 896Cusick's Corner The market bounced on the close but it was not the type of conviction that I would like to see. If you look at the volume it was far less than when sellers took control yesterday (especially at the close of that session). This choppy action early into the earnings cycle is...
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Market Waits for Obama's Speech on Deficit 04-13-2011
Wednesday, April 13, 2011 - 2:52pm | 913Cusick's Corner In action overnight -- the Nikkei was very strong, plus earnings solid -- JPM beats. This supports the bulls at this stage but the market is waiting to hear the President's outline for the budget. One thing that the markets will be listening for is tax code changes, specifically...
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Stocks Flat Ahead of Obama Speech
Wednesday, April 13, 2011 - 2:01pm | 120(TheStreet) -- Stocks were trading along the flat line Wednesday as comments about JPMorgan Chase's(NYSE: JPM) dividend disappointed investors, overshadowing its better-than-expected earnings. Investors are also awaiting President Obama's long-term plans to lower the deficit and address the rising...
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Government To Lenders: Reimburse Homeowners Or Else! (BAC, C, JPM, WFC)
Wednesday, April 13, 2011 - 1:25pm | 190The federal government has told several different mortgage lenders and servicers today that they must reimburse homeowners who were incorrectly foreclosed upon. The Federal Reserve, Office of Thrift Supervision and Office of the Comptroller of the Currency told Ally Financial Inc., Aurora Bank,...
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3 Signs to Look for Before Investing in Financial Bank Stocks
Wednesday, April 13, 2011 - 1:09pm | 697When the economic crisis of 2008 bashed the financial sector, many of the country's largest banks traded at valuations that would have been unthinkable just a few years earlier. Some institutions have seen the price of their shares rebound, but they're still trading at levels below their pre-crisis...
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JPMorgan Chase Gaps Then Craps
Wednesday, April 13, 2011 - 12:59pm | 79JPMorgan Chase & Co. (NYSE: JPM) opened nicely higher this morning after reporting earnings that beat expectations. While the earnings were solid, the stock could not hold the gains and has fallen sharply, now trading at $46.06, -0.58 (-1.24%). The key to this level is the even number and...
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J.P. Morgan's Braunstein: We're A Long Distance From A Normalized Environment (JPM)
Wednesday, April 13, 2011 - 12:53pm | 153Doug Braunstein, the CFO of J.P. Morgan Chase (NYSE: JPM), spoke to CNBC this afternoon, saying that we are a “long distance from a normalized environment if you think about the charge-off rate.” “The housing market is a very complicated one,” Braunstein added. “It's still a very high rate of...
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Financial Stocks Fade From Open
Wednesday, April 13, 2011 - 10:09am | 172This morning the street was raving about the J.P.Morgan Chase & Co.(NYSE: JPM) earnings. The stock was trading higher in the pre-market by 0.85 cents to $47.56 a share. Since the opening bell rang at the New York Stock Exchange the stock has declined sharply lower trading negative briefly...
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News Summary
Wednesday, April 13, 2011 - 9:32am | 203Shares of J.P. Morgan Chase & Co (NYSE: JPM) gained about 1.5% after the company reported its Q1 net income at $5.6 billion, or $1.28 per share, up from $3.3 billion, or $0.74 per share, in the year-earlier period. The company's revenue dropped to $25.2 billion from $27.7 billion. However,...
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Pre-market News and Views
Wednesday, April 13, 2011 - 9:27am | 500What a turnaround the market is making this morning! The S&P 500 e-mini futures are trading higher by 9.50 points to 1317.75 per contract. This move higher in the futures before the opening bell at the New York Stock Exchange is almost recapturing all of yesterday's sharp decline. Could this...
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JPmorgan CFO Says Debt Underwriting Revenue Was Record (JPM)
Wednesday, April 13, 2011 - 8:19am | 35JPmorgan (NYSE: JPM) CFO Says Debt Underwriting Revenue Was Record; JPmorgan: $1.1 Billion Cost Against Mortgage Servicing Assets; CEO, Dimon Says MSR Writedown `Is Not Likely To Recur'.