103.30 +0.38 (0.37%)
Pre-Market: 4:43AM EST
|Bid||103.12 x 1000|
|Ask||103.55 x 900|
|Day's Range||101.92 - 103.50|
|52 Week Range||91.11 - 119.33|
|Beta (3Y Monthly)||1.20|
|PE Ratio (TTM)||12.77|
|Forward Dividend & Yield||3.20 (3.19%)|
|1y Target Est||N/A|
Yahoo Finance's Adam Shapiro and Julie Hyman join BTIG Managing Director & Chief Equity Derivatives Strategist Julian Emanuel.
Investors are bracing for more wild swings in European stocks as the upcoming earnings season tests whether fears about slowing economic and corporate growth that punished equities in recent months have become a reality. Global stock markets cratered in the fourth quarter amid worries about China's slowing economy, the damage from trade tensions, Italy's budget crisis and U.S. interest rate rises. Investors will be scouring earnings releases for evidence that the rout which saw the pan-European STOXX 600 index (.STOXX) notch up its worst quarterly performance in six years was justified.
JPMorgan Chase & Co. Chief Executive James Dimon received a compensation package valued at $31 million in 2018, up 5% from $29.5 million in 2017, according to a Thursday securities filing. The CEO earned a base salary of $1.5 million and $5 million in cash, the same as a year ago, and $24.5 million in restricted equity, according to a filing with the U.S. Securities and Exchange Commission. Mr. Dimon, who has run the bank since late 2005, was the highest paid banking and finance chief executive in the S&P 500 in 2017.
JPMorgan Chase & Co Chief Executive Jamie Dimon is receiving a 5 percent raise, bringing his total 2018 compensation to $31 million, the company said in a filing on Thursday. In setting the figure, independent ...
NEW YORK (Reuters) - JPMorgan Chase & Co Chief Executive Jamie Dimon is receiving a 5 percent raise, bringing his total 2018 compensation to $31 million, the company said in a filing on Thursday. In setting the figure, independent members of the JPMorgan board took into account "the firm's strong performance in 2018 and through the cycle" in categories including business results, risk, controls and conduct, customer focus and leadership, the filing said. JPMorgan reported record net income of $32.5 billion in 2018 and a return on tangible common equity of 17 percent, the filing noted. ...
When the going gets tough on Wall Street, brokers can lose money too, just like their customers. There’s a scene in the classic 1983 movie “Trading Places,” in which the Duke brothers, played by Ralph Bellamy and Don Ameche, explain to Eddie Murphy’s character Billy Ray Valentine that whether their clients make money or lose money, their brokerage Duke & Duke makes money.
JPMorgan Chase & Co restructured some of its leadership roles and combined two of its payments businesses in its corporate and investment bank on Thursday, according to an internal memo viewed by Reuters. Daniel Pinto, chief executive for the corporate and investment bank, wrote in the memo that the changes, which took effect immediately, were meant to streamline things inside of the largest U.S. bank by assets. Takis Georgakopoulos will lead the new wholesale payments division, which includes the bank's corporate treasury services business and Chase Merchant Services.
Facebook (NASDAQ:FB) stock has shown some signs of life of late. FB stock hit its lowest levels in almost two years in December. But the New Year has been good to FB stock, which has risen over 10% in 2019. I'm still skeptical about FB stock, as I wrote last month. Facebook stock unquestionably is cheap. But the company's spending is rising in 2019 , which is one reason that the market cap of FB stock suffered the biggest single-day decline in stock market history in August . Meanwhile, regulators are still on the prowl, and Facebook's user growth almost has to decelerate, given its worldwide reach. But I'm clearly on the opposite side of Wall Street, which continues to embrace FB stock. That optimism no doubt has contributed to this year's gains. And if analysts are right, FB stock has more room to rise. InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Stocks to Buy as the Dollar Weakens ### The Street Defends Facebook Stock At least four analysts have made bullish arguments about FB stock in just the last two weeks. JPMorgan Chase called it a "best idea", and assigned Facebook stock a price target of $195. Barclays called FB "the best opportunity in large-cap Internet (stocks)." Baird, too, assigned FB stock a $195 target. And as InvestorPlace's Harriet Lefton noted this week, RBC Capital called Facebook stock one of its 10 best for 2019. Even Citron Research, better known as a short-seller of stocks like Bausch Health (NYSE:BHC) and Shopify (NYSE:SHOP), has been bullish on Facebook stock. Those analysts aren't alone: the average price target on Facebook stock, according to finviz.com, sits at $187. That figure suggests that FB stock can rise another 25% this year. The analysts' main points are different, but they share some similar themes. Citron and RBC both highlight the value of Instagram and WhatsApp, two of the company's platforms that haven't been monetized to the same extent as its namesake website. JPMorgan Chase noted that Facebook usage is "stickier than many think;" in other words, most users haven't left the site despite the negative publicity of 2018. Barclays agrees, as the firm predicts that FB will report higher-than-expected daily average users (DAUs) when it announces its Q4 earnings, likely later this month. And pretty much every bull points to the current valuation of FB stock, which is cheap. FB still trades at around 20 times analysts' consensus 2019 EPS estimate, and the valuation of Facebook stock is closer to 17 times after excluding the company's cash hoard. The valuation of FB stock suggests that its growth is pretty much coming to an end. And so it's not too surprising that analysts who don't believe the company's growth is over are arguing that FB stock should get more credit and higher multiples. ### FB Stock Ahead of Earnings The rising sentiment towards Facebook stock, both from analysts and investors, sets up an important fourth-quarter earnings report for FB. In a lot of ways, the bull case on FB is based on the idea that the bad news already is baked into FB stock at its current levels. We already know that the company's earnings growth is going to slow as its spending on security rises. CEO Mark Zuckerberg has apologized for the company's slow response to security issues, and he and his company are working to improve on that front. And so there's an obvious case that bulls can make in the wake of the Q4 report. Specifically, they can argue that the company's user-growth figures remain solid, showing that the public still trusts FB or at least still uses its services. Meanwhile, they will likely be able to say that the company's 2019 outlook remains roughly in- line with investors' already-low expectations. Facebook's revenue will likely still be poised to grow 25%+ this year (analysts' consensus estimate is 26.5%), reminding investors that the company is still growing. And the same analysts who are backing FB stock now will reaffirm their price targets or even raise them. FB stock will respond by rising, and the 2019 rally will continue. Truthfully, I wouldn't be surprised to see that scenario play out. Investors who are bullish on FB probably should look to buy FB ahead of its earnings. But from a longer-term perspective, FB stock is still facing a lot of risk. Indeed, the key question is whether the bad news really is behind Facebook stock. If it is, the company's Q4 numbers can give it somewhat of a fresh start, and its late-2018 lows look like a bottom. But if there's more bad news ahead for FB, the early-year gains of FB stock were just a false start. And actually, I can't quite shake the feeling that there's something else coming down the pike. As of this writing, Vince Martin has no positions in any securities mentioned. ### More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Growth Stocks With the Future Written All Over Them * 7 Reasons Why Buffett's Bet on Apple Stock Is a Good One * 10 Companies That Could Post Decelerating Profits Compare Brokers The post The Street Is Bullish on Facebook Stock appeared first on InvestorPlace.
The precious metal, primarily used in the auto industry for catalytic converters, has surged more than 60 percent since the middle of August. Palladium rose as much as 5.4 percent to $1,439.29 an ounce. At the Comex exchange, palladium for March delivery climbed 2.3 percent.
According to Macrotrends, each of these big banks have favorable P/E ratios of 9.23 for Citigroup, 10.50 for Wells Fargo, 11.15 for Bank of America and 11.32 for JPMorgan. JPMorgan is the only component of the Dow Jones Industrial Average and the stock ended 2018 with a dividend yield 3.45%, ranked 6th. The weekly chart for Bank of America is positive with the stock above its five-week modified moving average of $26.37.
Investors ignored Goldman Sachs' (NYSE:GS) Malaysian 1MDB scandal on Jan. 16, sending the stock up 10% after it beat earnings estimates. The price of Goldman Sachs stock rose as high as $197, but nudged downward below $195 as the hangover from that party set in. Goldman said it earned $2.54 billion, $6.04 per share, during the quarter, on revenues of $8.08 billion. This easily eclipsed estimates of $4.54 per share of earnings on revenue of $7.55 billion. During the quarter Goldman, known entirely as an investment bank, proved it can do retail banking, luring $7 billion in UK deposits through Marcus, an online bank paying high interest rates. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Analysts at other banks were impressed, although some noted that expectations had been low. One analyst even predicted the stock could rise another 25%, as its price is still lower than Goldman's book value. * 7 Stocks to Buy as the Dollar Weakens ### The 1MDB Scandal and Goldman Sachs Stock But the hangover of the 1MDB scandal still hangs over the stock, and before buying you need to hear the story. Malaysia is seeking $7.5 billion from Goldman, which raised $6 billion for a government-backed fund that wound up becoming a slush fund for former President Najib Razak, his associates, and a financier named Jho Low, now a fugitive in China. Along the way Goldman collected $600 million in fees. The scandal brought down the Najib government and brought Mahathir Mohamad, now 93, out of retirement as president, with a mandate to find and punish the guilty. The new government insists Goldman knows where all the money went. The question for courts is whether Goldman Sachs is criminally liable, or just Tim Leissner, the former head of the bank's Southeast Asia department, who has already pled guilty and could wind up with 10 years behind bars. Goldman says Leissner is entirely to blame, but Malaysia disagrees. People who are bullish on Goldman stock assume there will be some penalty levied against the firm, just nothing close to what prosecutors want. New Goldman CEO David Solomon took the unusual step of apologizing on the earnings call to Malaysia for Leissner's actions, but also spread the blame around. "It's very clear that the people of Malaysia were defrauded by many individuals, including the highest members of the prior government," he said. Basically, it's the government's fault too and Goldman was lied to. The size of the penalty levied against Goldman may turn out to be a political decision, as the U.S. tries to maintain relations in the face of growing Chinese power. Another reason to be bearish on Goldman Sachs stock comes from Goldman's own analysts, whose outlook for 2019 warns of slowing growth ahead. Goldman is also concerned that the recent bear market could turn into a self-fulfilling prophecy as people with money slow their spending. If the global bull market is ending, it can't mean anything good for Goldman's stock. ### The Bottom Line on Goldman Sachs Stock Regardless of how the courts rule in the Malaysia case, Goldman is unlikely to disappear. It has a market cap of $77 billion, and over $110 billion of cash on its books. Its Tier 1 ratio, measuring its ability to weather a market downturn, is now at 13.3%, on par with JPMorgan Chase (NYSE:JPM). Book value per common share reached over $207 by the end of the year, up about 15%, even while the stock fell 10.5% over the last 12 months. In conventional terms it's right to call Goldman Sachs stock a bargain. The question is whether these are conventional times. Dana Blankenhorn is a financial and technology journalist. He is the author of a new mystery thriller, The Reluctant Detective Finds Her Family, available now at the Amazon Kindle store. Write him at email@example.com or follow him on Twitter at @danablankenhorn. As of this writing he owned no shares in companies mentioned in this article. ### More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Growth Stocks With the Future Written All Over Them * 7 Reasons Why Buffett's Bet on Apple Stock Is a Good One * 10 Companies That Could Post Decelerating Profits Compare Brokers The post The 1MDB Scandal Won't Really Hurt Goldman Sachs Stock appeared first on InvestorPlace.
Could January Be the Best Month in a Year for the S&P 500?(Continued from Prior Part)January US market recovery In the previous article, we looked at two key factors responsible for driving the solid recovery in broader market in January 2019:
The bank’s fourth-quarter earnings report showed weakness in fixed-income and wealth-management revenue. Shares fell more than 5%.
Why Tech Stocks Surged on January 15The NASDAQ Composite Index surged 1.7% on January 15Tech stocks recovered on January 15 led by stellar rallies in the FAANG (Facebook, Amazon, Apple, Netflix, and Alphabet’s Google) stocks after two
A strong earnings report from Bank of America (NYSE:BAC) stock enjoyed Wall Street's collective attention Wednesday. Nevertheless, waiting for yesterday's excitable "mad money" to turn into today's profit-takers makes good business sense for would-be investors. Let me explain. There's no doubt about it, BAC stock's Q4 profit and sales beat was solid. And investors largely agreed, sending shares soaring more than 7% in response to strong results punctuated by Bank of America's consumer banking business, lower taxes and aggressive efforts into digitization which are paying off big-time. Off the price chart Bank of America's results received an equally excited response from CNBC's Mad Money front man James Cramer. Less than a month ago, price action like Wednesday's would have been pooh-poohed with remarks like "absurd" and "disconnected from reality" given the overriding bearish narrative of the day in BAC stock, in financials like JPMorgan (NYSE:JPM) and Wells Fargo (NYSE:WFC) and in the broader market. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Now and following Bank of America's results, the only "absurd and disconnected from reality" label was directed by the Mad Money host at investors too sheepish to buy BAC stock at a price that's cheaper than it has been in decades. While the words are Cramer's, the broader logic of the enthusiasm towards Bank of America is shared. However, if like me you don't wish to wind up feeling like the proverbial mad money, there's better ways than simply, "Buy, Buy, Buy!" ### BAC Stock Weekly Chart Only a handful of weeks ago, most analysts were warning of a bear market in BAC stock was just beginning. It was during this period in late December when I laid out a bullish contrarian case for shares as Bank of America tested the upper range of a key longer-term support zone from about $22-$24.50. * 7 Stocks to Buy as the Dollar Weakens Shortly thereafter, BAC stock challenged the lower support boundary with a low of $22.66 before turning aggressively higher as part of a V-shaped bottom. Now and with shares of Bank of America at $28.45 in just over three weeks, there are signs on the price chart warning today's bulls will be faced with some type of technical backing and filling. Our caution at the moment is two-fold. Wednesday's reaction put BAC stock into an overbought position evidenced by its position outside the upper Bollinger Band, as well as its stochastics reading. Secondly, shares are testing a critical resistance area from roughly $27.50-$29. This zone is comprised of BAC's larger downtrend from its intermediate high set in March, the 50%-62% Fibonacci levels and 200-day simple moving average. Like me, maybe you see resistance in shares as an obstacle to overcome. Still, the technical picture strongly suggests the odds are stacked against BAC stock moving higher in the short term. Bottom line, Bank of America's squiggly price line likely needs to digest its gains before a sustainable rally through today's position on the price chart can occur. ### BAC Stock Trade For investors agreeable with our view and who wish to buy shares with more confidence, I'd put BAC stock on the radar and wait for a simple pullback pattern of three to several sessions before purchasing stock. That would serve the purpose of easing today's overbought condition while still keeping the potential for a second leg of price momentum intact. Alternatively, if the anticipated profit-taking runs a bit longer or deeper, that's okay too. At this point and following earnings, buying Bank of America as it fills Wednesday's price gap and sets up a potential higher low pivot looks like a very suitable way to buy BAC stock. And in our view, buying on this type of weakness in shares is a much smarter way to own Bank of America, versus today's buyers who are likely to feel the pinch of a mad money investment. Investment accounts under Christopher Tyler's management do not currently own positions in any securities mentioned in this article. The information offered is based upon Christopher Tyler's observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. . For additional market insights and related musings, follow Chris on Twitter @Options_CAT and StockTwits. ### More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Growth Stocks With the Future Written All Over Them * 7 Reasons Why Buffett's Bet on Apple Stock Is a Good One * 10 Companies That Could Post Decelerating Profits Compare Brokers The post You Can Make Bank Buying Bank of America Stock After Earnings appeared first on InvestorPlace.
Investing.com - The lure of palladium and its importance to the auto sector is greater to precious metals investors than the shine of gold and the hedge the yellow metal offers to the world's political and financial troubles.
Investing.com – Western Digital fell on Thursday, stifling gains in semiconductors after Wall Street turned bearish on the data-storage company on worries over upcoming earnings and guidance.
Morgan Stanley snapped long streaks for beating profit and revenue expectations, but if it's any consolation to the broker's investors, the streaks weren't as long as rival J.P Morgan Chase & Co.'s . Morgan Stanley reported earlier fourth-quarter earnings that nearly tripled from a year ago to $1.36 billion, or 80 cents a share, but missed the FactSet consensus of 89 cents. That broke a streak of 12 straight quarters of earnings beats; the last miss was the third quarter of 2015, according to FactSet. Meanwhile, revenue fell 10% to $8.55 billion, below the FactSet consensus of $9.30 billion, to snap a 10-quarter streak of beats; the last miss was the first quarter of 2016. On Tuesday, J.P. Morgan snapped beat streaks of 15 quarters for earnings and 12 quarters for revenue. Morgan Stanley's stock, which fell 4.3% in premarket trade, has shed 5.7% over the past three months through Wednesday, while J.P. Morgan shares have declined 6.7%. The Dow Jones Industrial Average has lost 5.8% the past three months.