JPMorgan Chase beats by $0.30, beats on revenue
JPMorgan Chase (NYSE:JPM): Q2 EPS of $1.59 beats by $0.30.
Revenue of $25.3B (-2.5% Y/Y) beats by $1.54B.
Q2 earnings of $6B or $1.46 per share includes $500M or $0.13 per share in after-tax legal expense. Estimates were for earnings of $1.31 per share. About $3B returned to shareholders - $1.5B stock buyback and $0.40 dividend.
Consumer & Community Banking net income of $2.4B fallsl 21% Y/Y, with net revenue of $11.4B off 5%. Net interest income of $7B falls 2%. Noninterest revenue of $4.5B down 9% thanks to mortgage slowdown (originations fell 66% from a year ago). Credit loss provision of $852M compared with a benefit of $19M a year ago. Noninterest expense of $6.5B falls 6% driven by job cuts in mortgages.
Corporate & Investment Bank net income of $2B fallsl 25% Y/Y on revenue of $9B, off 6% (excluding impact of DVA). Banking revenue of $3.1B off 2%, with higher advisory fees and equity underwriting fees offset by lower debt underwriting fees. Markets & Investor Services revenue of $5.9B falls 12%, with fixed income revenue of $3.5B off 15%.
WTO judges have ruled the U.S. imposition of tariffs on Chinese solar modules, steel products, and other exports violates global trade rules.
Though rejecting some Chinese arguments against U.S. tariffs, the judges ultimately ruled the tariffs are inconsistent with obligations under the 1994 Marrakesh accord.
The U.S. originally imposed tariffs on Chinese solar module exports in 2012, and followed up last month by slapping new preliminary tariffs meant to close a loophole related to the use of non-Chinese cells.
Exactly, China is a communist country that has has no faith in God, it's their nature to lie cheat & steal. Always short Chinese stocks.
Never go long on JKS sh....t, always short it when it gets above $30. Way over value even at $25. JKS is at best a $15 stock. Glta...
Credit Suisse Downgrades Lumber Liquidators (LL) to Neutral
Jefferies downgraded Lumber Liquidators (NYSE: LL) from Buy to Hold with a price target of $57.00 (from $115.00) on weak preliminary Q2 results and outlook.
Analyst Daniel Binder said, "We don’t like downgrading stock after a big dip, but the rating change reflects some big hits to core assumptions. Q2 was much worse than expected and guidance may prove to still be too optimistic for 2H. Further, we saw a reduction in store growth, explanations for the precipitous fall off in business were thin and arguing for a premium to the growth rate is out of the question at this juncture."
The firm cut Q2 EPS from $0.85 to $0.59, FY 2014 EPS from $3.34 to $2.70 and FY 2015 EPS from $4.40 to $3.20.
“Customer traffic to our stores was significantly weaker than we expected, particularly in geographic areas severely impacted by the unusually harsh weather in the first quarter,” said Lumber Liquidators Chief Executive Robert Lynch in a statement.”
“The improvement in customer demand we experienced beginning in mid-March did not carry into May, and June weakened further,” he said.
CEO is the shorts best friend.. Lol See u at $30
Revenue passenger miles were flat Y/Y, while available seat miles increased 0.8%. The airline's consolidated load factor fell 0.6 points to 87.1%.
The performance looks to lag industry averages for June, but is ahead of UAL's previous expectation, and shares are up 6.1% in after-hours trade.
"However, they remain fully committed to doing so as soon as legally possible." That's the problem , they well never be able to, for NQ is a fraud, a scam. PERIOD.
I even went long, just a 1000 shares. God for bid I must need my head examine. Lol