111.73 0.00 (0.00%)
After hours: 5:34PM EDT
|Bid||111.77 x 1400|
|Ask||111.80 x 800|
|Day's Range||111.21 - 111.92|
|52 Week Range||91.11 - 119.24|
|Beta (3Y Monthly)||1.17|
|PE Ratio (TTM)||12.05|
|Earnings Date||Jul 16, 2019|
|Forward Dividend & Yield||3.20 (2.76%)|
|1y Target Est||118.35|
The Board of Directors of JPMorgan Chase & Co. declared a quarterly dividend on the outstanding shares of the common stock of JPMorgan Chase.
JPMorgan Chase & Co said on Tuesday that only 72% of shareholder votes approved its executive compensation packages, marking unusual opposition to pay for the bank's top leaders. About 93% supported JPMorgan's executive pay last year. JPMorgan Chase also said all of its directors were elected, and that a shareholder proposal that the bank report annually on its global gender pay gap was voted down, according to preliminary tallies.
It has also been amended to reflect that shares of Arabian Centres are due to start trading on Wednesday. It will be the biggest initial public offering since the $6bn listing of lender National Commercial Bank in late 2014.
Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B)'s much-awaited 13F form was made public towards the end of last week, finally revealing how much stock Warren Buffett (Trades, Portfolio)'s conglomerate had acquired in online retailer Amazon (AMZN) during the first quarter of 2019. Warning! GuruFocus has detected 2 Warning Sign with AMZN. According to the filing, Berkshire owned around 483,000 in the online giant at the end of March, a holding worth around $860 million according to the filing.
U.S. investment bank JPMorgan raised its probability of a no-deal Brexit to 25 from 15%, saying its base case is that Boris Johnson becomes prime minister, followed by a general election and then another delay to Britain's exit to the end of the year. JPMorgan raised the probability of an Article 50 extension to 60 versus 50% before and cut the probability of exit on the terms of Prime Minister Theresa May's Withdrawal Agreement to 15 from 35%.
U.S. investment bank JPMorgan raised its probability of a no-deal Brexit to 25% from 15%, saying its base case is that Boris Johnson becomes prime minister, followed by a general election and then another delay to Britain's exit to the end of the year. JPMorgan raised the probability of an Article 50 extension to 60% versus 50% before and cut the probability of exit on the terms of Prime Minister Theresa May's Withdrawal Agreement to 15% from 35%. The bank's Malcolm Barr said in a research note to clients on Tuesday that their base case was that: "Boris Johnson becomes PM in early September on a 'no deal if we have to' platform.
Last month, JPMorgan Chase & Co. announced grant funding of $500,000 for the launch of Upstate Capital Connect, a new initiative to support small business owners and entrepreneurs.
Just 72 per cent of shareholders endorsed the pay proposals at the bank’s annual meeting in Chicago, down from the 93 per cent who backed JPMorgan’s pay policies a year ago and the worst “say on pay” result the company has faced since 2015 when just 61 per cent of its shareholders voted in favour. “God knows how any of you can place your vote based on ISS or Glass Lewis,” he told an investor conference.
Give credit where credit is due. The new leaders of General Electric (NYSE:GE), most notably CEO Larry Culp, have pledged to be more transparent with investors. That honesty already has boosted GE stock, which has gained some 40% so far this year.Source: Shutterstock As bearish as I've been on GE, the optimism makes some sense. Culp worked wonders at Danaher (NYSE:DHR). GE has some valuable assets. Its problem areas -- notably Power and GE Capital -- have weighed on the stock in part because the bad news never seemed to end. As I wrote a little more than two years ago, GE clearly lost investors' trust. In the interim, Culp, CFO Jamie Miller, and other executives have made regaining that trust a priority.The problem -- as General Electric stock climbed above $10 yesterday before falling back -- is that GE is being honest about real problems with the business at the moment. Meanwhile, GE stock might seem "cheap" given its long fall from $30+, but it still has a market capitalization of $86 billion -- and a larger amount of debt and pension expense.InvestorPlace - Stock Market News, Stock Advice & Trading TipsCulp and Miller have time to fix General Electric and they well might succeed. But there's a long way to go and still some success priced in at $10. GE Gets HonestIt's an interesting argument as to whether management's increased transparency has helped GE stock. Certainly, there have been short-term relief rallies, starting with the 7% pop that came when Culp was named CEO at the beginning of October. In late January, GE missed estimates in fourth quarter earnings -- and the stock still soared after Culp projected improvement in the struggling Power business, albeit not until 2020. Meanwhile, 2019 guidance in March similarly disappointed, and yet GE stock rose again, with Culp calling 2019 a "reset year." * 10 Retirement Stocks That Won't Wilt in a Bear Market When Culp talks, investors cheer. And he literally has put his money where his mouth is, buying more than $2 million in GE stock last year. He's also laid out a strategy for GE to be slimmer, more nimble and more financially solid. The dividend was cut again, saving cash flow to pay down debt, and assets are up for sale to drive further deleveraging. Importantly, GE has been crystal-clear in detailing those strategies.The latest example of that came last Wednesday. JPMorgan Chase (NYSE:JPM) analyst Stephen Tusa long has been bearish -- and right -- on General Electric stock. In a note released Wednesday morning, Tusa said the company still was managing the headlines in its Power business, seemingly highlighting a big order number cited by Reuters on Tuesday, a report which Tusa said overstated the early success of the turnaround in Power.It hardly seems a coincidence that hours later, CFO Miller told a conference that the company still expected "significantly negative" free cash flow from Power this year, and that Q1 orders didn't signify a change in trend. Indeed, it looks like GE management wants not even the appearance of trying to obscure the real problems facing Power -- and the business as a whole. Will It Help GE Stock?It's a worthwhile strategy. But it's also worth noting that for all the optimism so far, it hasn't actually worked. General Electric stock is down almost 9% from where it traded the day before Culp's hiring was announced. The YTD rally seems due at least in part to the recovering broad market -- and many of the short-term bumps driven by management commentary have soon fizzled.Meanwhile, GE is being honest but it's important to listen to what management actually is saying. Miller said Wednesday that margins in Power won't recover for at least three years. Culp said in March that free cash flow outside GE Capital would be negative this year.The sale of GE Biopharma to Danaher for $21.4 billion will help the balance sheet. But it also sends a key earning asset out the door, and -- again, according to management -- limits the likelihood of a spin-off of GE Healthcare. Even with GE Capital, which has driven several multi-billion dollar charges in recent years, Culp hasn't made any promises that all the problems are solved. General Electric Stock Has a Long Road AheadThe transparency coming from GE is welcome … and a long time coming. Shareholders and potential investors deserve to know what they're getting into. Perhaps more importantly, a turnaround -- for GE or for any other company -- can't happen until or unless management truly understands what needs to be fixed. * 7 Stocks to Buy that Lost 10% Last Week But the problems here are real. GE stock hasn't collapsed because of negative coverage from Tusa, or pressure from short sellers, or just because former CEOs Jeff Immelt and John Flannery weren't paying attention. The power industry on the whole is shrinking. GE Capital took risks similar to those that hurt big banks like Bank of America (NYSE:BAC) and Citigroup (NYSE:C) last decade; it simply took this long for some of the costs to come to light.So while it's worth appreciating the newfound honesty at GE, it's also worth listening to that honesty. Cash flow is negative. Power is years away from improving while the market for gas-powered turbines may continue to shrink. (Admittedly, some observers see growth.) GE Capital may still have some issues to iron out.Aviation, Renewable Energy, and Healthcare have value but I argued a year ago that even with that strength, the fair value of GE stock looked to be about $9-$11 per share. Honesty is helpful, but it doesn't change that core problem.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 High-Yield REITs to Buy (Even When the Market Tanks) * 5 Great Blue-Chip Stocks to Buy Today * 7 Tech Stocks to Buy That Are Also Perfect for Retirement Compare Brokers The post Honesty Is A Good Start But Not Enough To Boost General Electric Stock appeared first on InvestorPlace.
In the last 15 months, the Philadelphia region has seen three. “That’s a big deal for any market,” said Dean Miller, CEO and president of the Philadelphia Alliance for Capital and Technologies. The latest is J.P. Morgan’s more than $500 million acquisition of Center City health care payment tech firm InstaMed.
Turkey told banks to wait one day before settling some large foreign-currency purchases, the latest move to defend the lira as President Recep Tayyip Erdogan’s party seeks to keep control of Istanbul in a controversial rerun of local elections. The bank regulator told lenders to settle all retail transactions valued at $100,000 or higher one working day later, instead of the current practice of doing it on the same day, according to a document sent to banks on Monday, which was seen by Bloomberg and verified by three bankers. The lira didn’t immediately react after posting gains earlier on Monday.
South Korean exports shrank further in May, according to preliminary data, reflecting a drawn-out downturn for chipmakers and as the US-China trade war casts uncertainty over the technology sector. Asia’s fourth-largest economy is highly dependent on sales of high-tech electronic components, such as computer chips, to China.
JPMorgan Chase & Co. announced today the quarterly coupon amount for the Alerian MLP Index ETN . The table below summarizes the coupon amount for the Alerian MLP Index ETN .
Bitcoin’s rise from the ashes over the past two months is showing similarities to the boom of late 2017, according to analysts at JPMorgan Chase & Co.
JPMorgan's (JPM) deal to acquire InstaMed is in sync with its plan to expand into fast growing U.S. healthcare payments markets and garner significant share.
Bank stocks haven’t been doing too hot, but (JPM) has proven itself to be among the best of the bunch. At a time when bank stocks have been weighed down by the Federal Reserve’s neutral approach to interest rates, JPMorgan’s broad-based growth has allowed the bank to drop just 1.8% during the past 12 months. JPMorgan (JPM) has a “very diverse group of businesses that really allow it to operate through the economic cycle,” Michael Barclay, a senior portfolio manager at Columbia Threadneedle Investments, told us.
Bahrain-based alternative investment manager Investcorp has mandated Citi and JPMorgan to coordinate the refinancing of a $400 million loan, sources familiar with the matter said on Sunday. Founded in 1982, Investcorp is one of the oldest Middle Eastern private equity houses. As of the end of last year, it had $22.5 billion in assets under management.