Search results for JPMorgan
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Posted
Oct 14 2009, 11:51 AM
by
Jim Jubak
Rating:
Money Blog: Top Stocks Blog - MSN Money
 There were no big negative surprises from JPMorgan Chase (JPM). That was the good news Wednesday morning, when the financial giant reported third-quarter earnings of 82 cents a share, way above the 50 cents a share expected by Wall Street analysts.
A nice positive surprise that.
The company also told investors it had added another $2 billion to its reserves against losses in its credit card business. That brings total credit reserves at JPM Chase to $31.5 billion. Wall Street had been expecting that JPM Chase would add $1.4 billion or so to reserves.
Not the huge negative surprise that some on Wall Street feared.
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Posted
Sep 16 2009, 11:33 AM
by
Louis Navellier
Rating:
Money Blog: Top Stocks Blog - MSN Money
It's been one year since Lehman Brothers filed for bankruptcy, creating the worst credit crisis in history. But we've come a long way in those 12 months. Banks that were teetering on the brink of ruin have seen their stocks surge lately.
So is it the right time to get into financials again?
I'll answer that by taking a look at two very different financial firms: JP Morgan Chase (JPM) and Citigroup (C).
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Posted
Aug 31 2009, 02:08 PM
by
James Dlugosch
Rating:
Money Blog: Top Stocks Blog - MSN Money
Is this true? JP Morgan netted nearly $500 million in fees for doing business with the crooked Bernie Madoff?
That's the total, according to a recent University of Louisiana study. Apparently, the venerable bank turned a blind eye to Madoff's shenanigans in order to make an extra buck or two.
That makes JP Morgan the equivalent of a mob banker. We don't know what JPM knew and when it knew it, of course, but Madoff's victims will no doubt want to ask. I imagine the lawyers are lining up already.
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Posted
Aug 27 2009, 07:20 AM
by
Minyanville
Rating:
Money Blog: Top Stocks Blog - MSN Money
 This article is written by Minyanville's Andrew Jeffery
After four years of searing pain, the U.S. housing market is finally showing signs of life. And even as the causes and relative sustainability of this nascent “recovery” are being hotly debated, traditional buyers and investors alike are jumping into the market for homes with both feet. It now appears that the biggest, baddest investor of them all, the one with infinitely deep pockets, is wading into the fray: Uncle Sam. According to HousingWire, the U.S. Department of Housing and Urban Development, or HUD, is giving state and local governments a total of $50 million to help deal with the onslaught of foreclosed homes, many of which lie vacant and blighted, ripe for vandalism, squatting, or worse. HUD has allocated chunks of cash to national development groups and local community organizations hoping to plug holes left by the private real estate investment market. Bing: US Housing Market
Funds are being distributed through the Neighborhood Stabilization Program, which was established by former President George Bush in Economic Stimulus part one and expanded by President Barack Obama earlier this year.
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Posted
Aug 25 2009, 08:32 AM
by
Minyanville
Rating:
Money Blog: Top Stocks Blog - MSN Money
This article is written by Minyanville's Justin Rohrlich
Hey buddy, can you spare a wheel of Parmigiano-Reggiano?
Italy is in the throes of its fourth recession since 2002, with the country’s economy expected to contract 5.3% this year. And, for many producers, cheese seems to be the only way out.
Credito Emiliano, an Italian bank in the Emilia-Romagna region, has been accepting parmesan cheese as collateral since the early 1950s -- and is now considering treating prosciutto, olive oil and balsamic vinegar the same way, according to Steve Jenkins, one of America’s foremost cheese experts.
Bing: Italy recession
The bank does not store the cheese on site -- this is the purview of a unit called Magazzini Generali delle Tagliate, which holds 440,000 wheels worth a little less than $190 million.
“This mechanism is our life blood,” Giuseppe Montanari, a parmesan producer, told Bloomberg News. “It’s a great way to finance our expenses at convenient rates, and the bank doesn’t risk much because they can always sell the cheese.”
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Posted
Aug 10 2009, 09:13 AM
by
Minyanville
Money Blog: Top Stocks Blog - MSN Money
This article was written by Minyanville's Megan Barnett
Since the downfall of Lehman Brothers, many of the biggest Wall Street banks have moved in lock step, as if to assume there is safety in numbers. Everyone took the bailout money at the same time (not that they had much choice), and now everyone wants to pay it back.
But now that the worst is behind the banking industry, or so many of them hope, at least one bank is finding reason to zig when everyone else zags. JPMorgan Chase (JPM) is taking the unusual step of auctioning off the warrants held by the U.S. government, instead of buying them back for a price negotiated privately with Treasury officials, according to the New York Post. The auction will be held in the open market and conducted by the Treasury Department.
(See also: Megan Barnett's "The Small Price to Pay for Financial Fraud")
It's different. It's transparent. It's fair. It makes sense.
It's also suspicious.
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Posted
Jul 21 2009, 07:05 AM
by
Minyanville
Rating:
Money Blog: Top Stocks Blog - MSN Money
Sunwest Bank, a community bank in Orange County, Calif., looked very much like an outlier from 2005 to 2007.
Orange County was the epicenter of subprime mortgage lending -- half of the biggest 20 subprime lenders in the U.S. were located there -- and Ground Zero for mortgage brokers hawking no-money-down adjustable-rate mortgages. All the extremes of the housing bubble could be found in Orange County.
Unlike its peers, Sunwest Bank neatly sidestepped the trouble. It never touched subprime lending. It warned of the dangers ahead. And it deliberately left other speculative lending, like commercial real estate, to those banks that were addicted to it, like kids on a sugar high. Few banks were wholly untouched by the carnage; even the biggest players, like Citigroup (C), Wells Fargo (WFC), JPMorgan Chase (JPM), and Bank of America (BAC), hardly escaped unscathed.
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Posted
Jul 16 2009, 06:09 PM
by
James Dlugosch
Rating:
Money Blog: Top Stocks Blog - MSN Money
Back in March I suggested that the entire banking system was set up to print money. At the time, I posited that it would be crazy not to buy bank stocks as the government, in concert with the Federal Reserve, had teamed up to support the entire banking sector in a way never before imagined.
Now, several months later, the banking sector is humming along in great shape. Well, "great shape" may be an overstatement, but the environment for banks to prosper now is the same as it was in March.
The results for the second quarter, thus far, are encouraging. Both Goldman Sachs (GS) and JPMorgan (JPM) reported earnings that beat estimates this week.
So, why are the banks doing so well?
The simplest explanation is that the steep shape of the yield curve is such that banks are making big bucks on the spread between deposit rates and lending rates. Going a bit deeper, the larger banks like GS and JPM are thriving with less competition and profits from trading and underwriting.
Mortgages and housing may still be a mess, but there is money being made elsewhere. Given that such a dynamic is likely to be in place for the immediate term, owning banks is still a no-brainer.
Here are three bank stocks, all potential doublers, that you'd be crazy NOT to buy.
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Posted
Jul 14 2009, 12:11 PM
by
Ken Kam
Rating:
Money Blog: Top Stocks Blog - MSN Money
With today's news of Goldman Sach's (GS) strong second-quarter results, it is becoming clear that the financial industry's survivors are going to be big winners. To find out which companies are worth evaluating, I asked one of Marketocracy's mFOLIO Masters, Eugene Groysman, for his best idea. mFOLIO Masters are the creme of the crop at Marketocracy.com, I've tracked Groysman for the past 6 years, and over that time he averaged 21.8% a year. That's why we started making his portfolio available for clients in our managed account program.
He surprised me by picking US Bancorp (USB) over better-known rivals Goldman Sachs, Bank of America (BAC), Citibank (C), Morgan Stanley (MS) and JP Morgan (JPM). I'm going to let him explain in his words why US Bancorp is his pick.
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Posted
Jun 16 2009, 02:40 PM
by
Catherine Holahan
Rating:
Money Blog: Top Stocks Blog - MSN Money
 The worst recession since the Great Depression will
officially end sometime in the next three months, according to economists at
the nation's biggest banks. The Economic Advisory Committee of the American
Bankers Association -- aka the chief economists for JPMorgan
Chase, Citigroup,
Bank of
America, and most other major banks -- announced today that they expect that
nation's GDP to grow in the third quarter of 2009.
But most Americans will still feel as though they are living
through a recession well into 2010.
"The economy will return to growth but not to
health," said Bruce Kasman, chief economist for JPMorgan Chase in a
statement. "Growth in the coming quarters is likely to gather momentum but
will not prove sufficiently robust to undo much of the severe damage to our
labor markets and public finances."
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