|Bid||120.52 x 1300|
|Ask||120.61 x 800|
|Day's Range||119.86 - 121.02|
|52 Week Range||91.11 - 121.59|
|Beta (3Y Monthly)||1.19|
|PE Ratio (TTM)||11.90|
|Earnings Date||Jan 14, 2020|
|Forward Dividend & Yield||3.60 (3.01%)|
|1y Target Est||121.58|
The week contained enough good news to drive just about any market higher, but instead ended with the Dow Jones Industrial Average lower for the fourth time in five weeks.
Facebook's Libra digital currency project is "a neat idea that will never happen," JPMorgan Chase Chief Executive Jamie Dimon said on Friday, adding to skepticism about the project that has faced criticism from policymakers and some regulators. Dimon, who made the comments at an event in Washington hosted by the Institute of International Finance, did not elaborate on why he believed Libra was a non-starter.
JPMorgan Chase CEP Jamie Dimon said the money-market turmoil highlights risk of bigger crisis and the Fed should pay attention.
The Dow Jones erased weekly gains as Boeing and J&J; dived Friday. Netflix and software stocks sold off. Dow stocks JPMorgan and UnitedHealth rallied during the week on earnings.
JPMorgan Chase Bank has hired two highly experienced executives to lead its retail banking expansion in Kansas City.
Let's dive into three tech stocks that we found using our Zacks Stock Screener that growth investors might want to consider buying during Q3 2019 earnings season...
(Bloomberg) -- As WeWork prepares to cut potentially thousands of jobs this month, executives keep heading for the exits. The situation has turned into an exodus, with at least six C-level executives and the vice chairman leaving since last month.Adam Kimmel, WeWork’s chief creative officer, is the latest to submit his resignation, according to two people familiar with the matter who asked not to be identified discussing a personnel matter. Kimmel joined the company in 2017 after a long career as a fashion designer and took on projects such as designing the company’s San Francisco offices. WeWork parent We Co. didn’t immediately have a comment on the departure.WeWork attempted to go public last month, but the process quickly went awry after investors raised concerns about its business model and corporate governance. The chief executive officer stepped down; it pulled the initial public offering; and it’s now scrambling for cash to keep going. The company is weighing two potential bailout plans, including a $5 billion debt package led by JPMorgan Chase & Co. and an investment from SoftBank Group Corp. that could value We Co. at less than $8 billion, a dramatic fall from $47 billion in January.WeWork could cut about 2,000 jobs in the coming weeks, though the decisions haven’t been finalized. Meanwhile, the chaos has been heightened by the parade of executive departures, including CEO Adam Neumann and his wife and Chief Brand and Impact Officer Rebekah Neumann last month, followed by the chief product officer, the top spokesman and the head of marketing.To contact the authors of this story: Ellen Huet in San Francisco at firstname.lastname@example.orgGillian Tan in New York at email@example.comTo contact the editor responsible for this story: Mark Milian at firstname.lastname@example.org, Anne VanderMeyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
DEEP DIVE J.P. Morgan Chase has a reputation as the “best in class” among the Big Four U.S. banks, but Bank of America might be a better investment if you hold the stock for the next few years, according to Edward Jones analyst James Shanahan.
(Bloomberg) -- SoftBank Group Corp. is assembling a rescue financing plan for WeWork that may value the office-sharing company below $8 billion, according to people familiar with the discussions.The new figure is a fraction of the $47 billion valuation the startup commanded as recently as January. The talks are fluid and the terms could change, said the people, who requested anonymity because the discussions are private.WeWork, reeling since it scrapped its initial public offering, has been considering dueling plans from SoftBank and JPMorgan Chase & Co. to shore up its finances before it runs out of cash as early as next month. The company’s board could make a decision as soon as this weekend, according to some of the people familiar with the situation.Representatives for WeWork and SoftBank declined to comment.JPMorgan has been pitching investors on a $5 billion junk-debt package for WeWork. The unsecured and secured notes portion of the bank’s plan are being offered on a “best-efforts” basis, according to people familiar with the matter, meaning banks haven’t committed to funding the deal irrespective of investor demand.The bank has been sharing its proposal with about 100 investors as it tries to line up support for what would be one of the riskiest debt offerings in recent years, people with knowledge of the matter said earlier this week.Uncertainty around WeWork’s future has whipsawed its bonds in recent weeks. The debt plunged to record lows on Tuesday as the company weighed a financing package that included debt that could yield 15%, only to erase those losses a day later amid reports that SoftBank was considering a new investment. The debt currently trades at around 85 cents on the dollar, and hasn’t been near par since before the company pulled its IPO last month.SoftBank, which with its affiliates already owns a little under one-third of WeWork, has been in discussions to provide the company with $5 billion of funding in a mix of equity and debt. The financing would come directly from the Japanese firm, rather than its Vision Fund, a person said earlier this week. SoftBank would not amass a majority of voting rights, though its stake would increase, the person said. Part of the package may include non-voting preferred stock.Part of the appeal of the SoftBank plan is the office-sharing company’s longstanding relationship with the investment behemoth, one of the people said. At the same time it would further dilute existing shareholders and employees -- a consideration in favor of the JPMorgan proposal.(Updates with bond prices in seventh paragraph.)\--With assistance from Claire Boston.To contact the reporters on this story: Gillian Tan in New York at email@example.com;Sonali Basak in New York at firstname.lastname@example.org;Michelle F. Davis in New York at email@example.com;Saritha Rai in Bangalore at firstname.lastname@example.orgTo contact the editors responsible for this story: Craig Giammona at email@example.com, Alan GoldsteinFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Whenever there are unexpected problems in the financial markets, banks are quick to create the illusion of financial regulation as the culprit. In doing so, they divert attention from the real cause, which is all-too-often misbehavior on the part of the banks they represent.
Investor sentiment upbeat on banks' Q3 earnings, with the major players displaying top-line strength on the back of higher fee income and loan growth.
Two of the nation’s top banks — No. 1 JPMorgan Chase & Co. and No. 7 U.S. Bancorp — are entering the Charlotte market with big ideas for taking a slice out of the competition.
for WeWork that might force the US bank to impose margin calls on co-founder Adam Neumann. The Japanese tech group and the US bank have submitted competing plans to pump as much as $5bn into WeWork in a debt-and-equity deal that could value the group’s equity at $8bn or less, according to multiple people briefed on the matter. The proposal from SoftBank, which has already sunk more than $10bn into the company, would significantly dilute other equity holders, including Mr Neumann.
What did we learn from the avalanche of big US bank earnings this week? That the industry can take a hard punch — from interest rates falling to historic lows — and remain up on its feet. Bankers and bank ...
New York Fed President John Williams said the U.S. central bank was confident in its measures to deal with funding market strains.
Morgan Stanley reported a higher-than-expected profit on Thursday, bolstered by strength in bond trading and M&A advisory, but executives were careful not to sound too optimistic about the rest of the year. Like other big banks, Morgan Stanley had to navigate falling interest rates, volatile markets and recession signals during the third quarter, and fared relatively well. Its overall profit rose 3%, topping Wall Street expectations by a healthy margin.
(Bloomberg) -- As WeWork scrambles this week to raise cash needed to keep afloat, several top executives aren’t sticking around to see the results.Chief Marketing Officer Robin Daniels is leaving, according to two people familiar with the matter who asked not to be identified discussing internal matters. He’s at least the fifth C-level executive to step down in the last few weeks.After a failed attempt at an initial public offering last month, WeWork’s co-founder and chief executive officer, Adam Neumann, stepped down, as did his wife, Rebekah Neumann, a founder and chief brand officer. A spokeswoman for WeWork declined to comment.The company, which rents office space in buildings around the world, has been floundering since its IPO sunk in September. It pulled the prospectus soon after. The company is likely to run out of money as soon as next month and is currently weighing a debt package led by JPMorgan Chase & Co. and a $5 billion rescue plan from SoftBank Group Corp., the largest shareholder in WeWork.As part of a companywide attempt at belt-tightening, WeWork parent We Co. expects to dismiss potentially thousands of employees this month. Morale is low among staff, who are unsure of their fate or the future of the company, and some have stopped coming in to their offices, according to people familiar with the situation.The turmoil has resulted in an exodus of WeWork management. Last month, former Vice Chairman Michael Gross and Chief Product Officer Chris Hill resigned. Jimmy Asci, the communications chief, stepped down last week.To contact the author of this story: Ellen Huet in San Francisco at firstname.lastname@example.orgTo contact the editor responsible for this story: Mark Milian at email@example.com, Jillian WardFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Signs of hope for a Brexit deal and U.S.-China trade war updates. Some disappointing U.S. manufacturing and retail data. Q3 earnings results from the likes of Netflix. And why Google parent Alphabet is a Zack Ranks 1 (Strong Buy) stock. - Free Lunch
Oct.18 -- JPMorgan CEO Jamie Dimon says Libra was a "neat idea" that will never happen. Dimon participates in a panel at an IFF conference in Washington.