U.S. Markets closed

Today’s Research Reports on Stocks to Watch: JPMorgan and Wells Fargo

NEW YORK, NY / ACCESSWIRE / May 7, 2018 / Banking stocks JPMorgan and Wells Fargo crept higher in Friday's trading session. The joint venture between JPMorgan and Amazon and Berkshire Hathaway is well underway with a CEO close to being announced according to Warren Buffett who spoke about the details at Berkshire Hathaway's annual meeting. Buffett also defended his stake in Wells Fargo at the meeting.

RDI Initiates Coverage on:

JPMorgan Chase & Co.

Wells Fargo & Company

JPMorgan Chase & Co. shares closed up 1.11% on Friday with nearly 12 million shares traded. It was announced at Warren Buffett's Berkshire Hathaway annual meeting that the joint healthcare venture between JPMorgan, Amazon, and Berkshire would soon be announcing a CEO. He said, "We're making a lot of progress, and I think we'll probably have a CEO within a couple of months." There was no specification on who it may be. He said, "We don't plan to start healthcare companies or necessarily insurers or anything. The motivations are not primarily profit-making. We want our employees to get better medical service at a lower cost. We're certainly not going to come up with something where we think the service that they receive is inferior to what they're getting now, but we do think that there may be ways to make a real significant changes that could have an effect. "He also explained that the venture’s success will depend heavily on their CEO selection, and whether that person will have the imagination, and support of people that will enable us to make any kind of significant improvements in the system."

Access RDI's JPMorgan Chase & Co. Research Report at:

Wells Fargo & Company shares saw gains in Friday's session, closing the day up 1.69%. It was over the weekend that Warren Buffett defended the bank and that Berkshire Hathaway have no intention of selling its shares in the company. At Berkshire Hathaway's annual meeting, he was asked if Wells Fargo's scandal would mean a sale of its stake. Buffett said that Wells Fargo is working to overcome the mistakes of its past and that he thinks the bank will be stronger in the future. He said, "I see no reason to think that Wells Fargo going forward is other than a very, very large, well run bank that had an episode in its history which it wished it didn't have. Buffett also admitted that he likes the company's Chief Executive Tim Sloan. Sloan recently told Fox Business' Maria Bartiromo that he was optimistic about the bank's future. It was last week that Wells Fargo agreed to pay $480 million to settle a class action lawsuit. Investors had accused Wells Fargo of securities fraud in relation to its fake-account scandal.

Access RDI's Wells Fargo & Company Research Report at:

Our Actionable Research on JPMorgan Chase & Co. (NYSE: JPM) and Wells Fargo & Company (NYSE: WFC) can be downloaded free of charge at Research Driven Investing.

Research Driven Investing

We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.

RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.


For any questions, inquiries, or comments reach out to us directly at:


Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011



CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: RDInvesting.com