All Posts Tagged With: "JPMorgan Chase & Company"

(JPM) Fourth Quarter Earnings Largely Uneventful Thus Far – Earnings Trends

The fourth quarter earnings season hasn’t been that eventful thus far even though we have results from 67 S&P 500 companies already (as of Friday, January 18th). The reason is that expectations for this earnings season were set by the very weak third quarter reporting season. Given those low...

22Jan2013 | | Comments Off | Continued

(BAC) Bank of America Beats by a Penny – Revenues Down

Bank of America Corporation (BAC) reported fourth-quarter 2012 earnings of 3 cents per share, which managed to beat the Zacks Consensus Estimate by a cent. However, this compares unfavorably with the earnings of 15 cents in the prior-year...

18Jan2013 | | Comments Off | Continued

(C) Banks Continue Battling Legal Issues

Last week, DZ Bank AG, a German lender, filed a lawsuit against Citigroup Inc. (C) and The Royal Bank of Scotland Group plc (RBS), for misrepresentation of documents...

2Jan2013 | | Comments Off | Continued

(UBS) UBS AG Settles LIBOR Scam with $1.5 Billion

UBS AG (UBS) has finally conceded to paying a penalty of CHF 1.4 billion ($1.5 billion) to the U.S., U.K. and Swiss authorities to resolve charges against the bank for its involvement ...

28Dec2012 | | Comments Off | Continued

(ICE) IntercontinentalExchange Quotes $8.2B for NYSE Buyout

Yesterday, IntercontinentalExchange Inc. (ICE) announced its intention to buy the largest stock exchange based on listings – NYSE Euronext Inc. (NYX) for $8.2 billion....

24Dec2012 | | Comments Off | Continued

(XLF) Stock Market News for December 24, 2012 – Market News

Boehner’s “Plan B” failed to garner ample support from Republicans, dragging the benchmarks into negative territory on Friday. However, the benchmarks finished higher for the week. Both personal spending and demand for durable goods showed an upward trend in November. The financial and energy...

24Dec2012 | | Comments Off | Continued

(AIG) AIG Sells Entire Stake in AIA

Yesterday, American International Group Inc. (AIG) announced its plan to sell the remaining 13.69% stake in its Asian wing – AIA Group Limited (AIA) – for $6.45 billion. The company’s holding in AIA has been traded to a group...

20Dec2012 | | Comments Off | Continued

(JPM) U.S. Banks Stock Outlook – December 2012 – Industry Outlook

What’s in Store for U.S. Banks in 2013? U.S. banks look ready for 2013 with uninterrupted expense control, sound balance sheets, an uptick in mortgage activity and lesser credit loss provisions. Moreover, a favorable equity and asset market backdrop, progressive housing sector...

19Dec2012 | | Comments Off | Continued

(UBS) UBS AG to Resolve LIBOR Scam with $1 Billion?

UBS AG (UBS) is said to be nearing a deal to pay a penalty of over $1 billion over its alleged involvement in the manipulation of the London Interbank Offered Rate (LIBOR), according to a Wall Street Journal report. The announcement...

19Dec2012 | | Comments Off | Continued

(JPM) U.S. Banks Stock Outlook – December 2012 – Zacks Analyst Interviews

What’s in Store for U.S. Banks in 2013? U.S. banks look ready for 2013 with uninterrupted expense control, sound balance sheets, an uptick in mortgage activity and lesser credit loss provisions. Moreover, a favorable equity and asset market backdrop, progressive housing sector...

19Dec2012 | | Comments Off | Continued

(JPM) JPMorgan Chase Sees No End to Legal Woes

JPMorgan Chase & Co. (JPM) continues to be in sticky waters as litigation issues arising from the sale of mortgage backed securities (MBS) by Bear Stearns & Co. – acquired in 2008 – seem to be never ending. Now, the U.S....

18Dec2012 | | Comments Off | Continued

(BAC) Bank of America in New Legal Tussle

Last week, DZ Bank AG, a German lender, filed a lawsuit against Bank of America Corporation (BAC), for misrepresentation of documents while selling mortgage-backed securities (MBS). The lodged complaint indicts BofA of presenting modified...

17Dec2012 | | Comments Off | Continued

(AIG) Fed to Wind Up AIG Stake for $7.6B

American International Group Inc. (AIG) is in the final leg of its government bailout loan repayment as the US Federal Reserve (Fed) announced the sale of the remaining 15.9% ownership in the company. This also indicates a sooner-than-expected...

17Dec2012 | | Comments Off | Continued

(NDAQ) NASDAQ OMX Group to Buy Thomson Reuters Business

Yesterday, NASDAQ OMX Group Inc. (NDAQ) announced its intention to purchase the corporate management arm of Thomson Reuters. The deal is valued at $390 million and is expected to culminate by the first half of 2013, subject to regulatory...

16Dec2012 | | Comments Off | Continued

(GS) Goldman Sachs Group Shares Kept Neutral By Analyst

We reiterated our Neutral recommendation on The Goldman Sachs Group Inc. (GS), based on the detailed analysis of the company’s third-quarter 2012 results. Goldman’s earnings per share for the quarter under review were significantly...

10Dec2012 | | Comments Off | Continued

(AIG) American International Group Sells 90% of International Lease Finance Corporation for $5.28B

American International Group Inc. (AIG) confirmed the sale of about 90% of its aircraft leasing unit – International Lease Finance Corporation (ILFC) – to a group of Chinese investors. The deal is valued at $5.28 billion. Accordingly,...

10Dec2012 | | Comments Off | Continued

(PBCT) People’s United Financial Prices Senior Notes

On Monday, Connecticut-based People’s United Financial Inc. (PBCT) announced the pricing of nearly $500 million worth of senior notes. The offering is anticipated to culminate on December 6, 2012, subject to customary closing...

7Dec2012 | | Comments Off | Continued

(BCS) Barclays to Exit Crop Trading Biz?

Barclays Plc. (BCS) is contemplating a retreat from trading in agriculture commodities, according to a Reuters report. The move comes as the company gears up for a strategic revamp of its overall business...

4Dec2012 | | Comments Off | Continued

(JPM) Risk and Reward Balance JPMorgan Chase

We have reiterated our long-term Neutral recommendation on JPMorgan Chase & Co. (JPM), based on strong fundamentals and steady performance by all its business segments. Further, maintaining its track...

3Dec2012 | | Comments Off | Continued

(OCN) Ocwen Financial Gets Court Approval For Residential Capital Bid

On Monday, U.S. Bankruptcy Court in Manhattan approved Ocwen Financial Corp’s. (OCN) bid to acquire Residential Capital’s (ResCap) mortgage-servicing rights (MSRs) in collaboration with Walter Investment Management...

3Dec2012 | | Comments Off | Continued

(MS) Morgan Stanley in New Legal Tussle

Last week, German lender DZ Bank AG filed a lawsuit against Morgan Stanley (MS), for misrepresentation of documents while selling mortgage-backed securities (MBS). The complaint indicts Morgan Stanley of presenting modified documents...

3Dec2012 | | Comments Off | Continued

(THOR) Thoratec Authorizes New Share Repurchase

Thoratec Corp. (THOR), a leader in mechanical circulatory assistance devices, recently revealed that its board of directors has approved the repurchase of as much as $150 million of its common stock. The earlier authorization lapsed...

3Dec2012 | | Comments Off | Continued

(JPM) JPMorgan Chase & Company and Credit Suisse Group to Pay $400M in Settlement

Banking behemoths JPMorgan Chase & Co. (JPM) and Credit Suisse Group (CS) have agreed to resolve the allegations leveled by the Securities and Exchange Commission...

30Nov2012 | | Comments Off | Continued

(C) Banks to Face Tougher Stress Test

Major American banks will have to undergo yet another round of stress tests early next year to prove their financial mettle for confronting another recession. The three stress test scenarios – baseline (based on expectations of private economists), adverse and severely adverse – were revealed...

30Nov2012 | | Comments Off | Continued

(JPM) JPMorgan Chase’s Legal Woes May Ebb Soon

Financial Times has reported that the legal woes at JPMorgan Chase & Co. (JPM) are expected to lessen soon. The company is in advanced talks with the Securities and Exchange Commission (SEC) for the settlement of probes...

30Nov2012 | | Comments Off | Continued

(BK) The Bank of New York Mellon to Redeem $550M Trust Preferred Securities

The Bank of New York Mellon Corporation (BK) – also known as BNY Mellon – has announced that it will redeem trust preferred securities (TruPS) worth $550.0 million. The redemption will include 6.875% Trust Preferred Securities,...

28Nov2012 | | Comments Off | Continued

(BAC) Bank of America Loses Bid to Dismiss Federal Housing Finance Agency Claim

A U.S. District Judge in Manhattan cancelled the bid of Merrill Lynch – a wing of Bank of America Corporation (BAC) – to dismiss a lawsuit filed by the Federal Housing Finance Agency (FHFA) against it. The lawsuit pertains to the...

27Nov2012 | | Comments Off | Continued

(BAC) Bank of America Entangled in Residential Mortgage Backed Securities Case Again

Bloomberg reported that Brussels-based Royal Park Investments SA/NV – set up in 2009 by Fortis Bank SA/NV, the Belgian state and BNP Paribas SA (BNPQY) – has sued Bank of America Corporation (BAC)...

20Nov2012 | | Comments Off | Continued

(F) Stock Market News for November 15, 2012 – Market News

Benchmarks took a battering on Wednesday after President Barack Obama stood firm on increasing tax rates for rich Americans and violence broke out in the Middle East. Moreover, investors’ apprehensions about the fiscal cliff pushed The Dow Jones to its lowest level since June. Meanwhile, U.S. retail...

15Nov2012 | | Comments Off | Continued

(GOOG) Stock Market News for October 19, 2012 – Market News

Disappointing quarterly results from Google combined with mixed economic reports dragged the benchmarks into negative territory. As for domestic economic readings, initial claims increased more than expected from the previous week, while Philadelphia Fed’s monthly manufacturing report revealed...

8Nov2012 | | Comments Off | Continued