|Bid||120.94 x 1000|
|Ask||120.96 x 800|
|Day's Range||119.81 - 121.02|
|52 Week Range||91.11 - 121.59|
|Beta (3Y Monthly)||1.19|
|PE Ratio (TTM)||11.94|
|Earnings Date||Jan 14, 2020|
|Forward Dividend & Yield||3.60 (3.01%)|
|1y Target Est||121.58|
The Dow Jones, S&P; 500 and Nasdaq erased weekly gains as Boeing, Netflix and software stocks sold off. Dow stocks JPMorgan and UnitedHealth rallied on earnings.
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.
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.
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 deal that could value the group 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 email@example.comTo contact the editor responsible for this story: Mark Milian at firstname.lastname@example.org, 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
(Bloomberg) -- For the first time in four years, interest rates hurt instead of helped the biggest U.S. banks. It wasn’t enough to knock them off pace to top last year’s profit record.Revenue at the six largest firms climbed from a year earlier for the 12th time in the past 13 quarters, helped by better-than-expected gains in trading and a surprise jump in investment banking. JPMorgan Chase & Co., the nation’s biggest bank, notched a new revenue record. That all came in spite of the group’s net interest income posting its first drop since 2015 as the Federal Reserve lowered interest rates twice in the quarter.For all the hand-wringing about low rates, trade wars and a possible economic slowdown, the biggest banks are still riding high. A healthy consumer, lower corporate tax rates and stock markets at all-time highs have the firms on track to break the all-time earnings high of $120 billion in 2018.“The banks had set low expectations in September, and it turned out that the results were pretty strong,” Julien Courbe, financial services advisory leader at PricewaterhouseCoopers. “I think a big question would be whether the rate cuts would actually stimulate loan demand, and we heard from the earnings that it did.”While capital rules introduced to make banks safer after the financial crisis have ended the glory days, when return on equity often topped 20%, all six banks have clawed their way back to double-digits this year for the first time since the crash.Investors are taking note: shares of all the banks except Citigroup Inc. climbed this week, with Morgan Stanley, Bank of America Corp. and JPMorgan all surging more than 3.5%. Here are the week’s main takeaways:TradingBanks upended forecasts by posting strong revenue in their trading businesses this week.Every firm beat analysts’ estimates as volatility in fixed-income markets created opportunities for trading desks. Morgan Stanley was the biggest surprise, with debt trading jumping 21% instead of dropping 5% as analysts had predicted. Fixed-income trading at JPMorgan rose by the most in almost three years.At Bank of America, strong trading results added to good news on the investment-banking front, where revenue shot up almost 26% from a year earlier and beat expectations. Goldman Sachs Group Inc. suffered the opposite fate: It posted strong trading results but investment-banking fees took a bigger hit than expected.ConsumerThe top four retail banks pulled in record revenue for the fifth straight quarter, a sign that the U.S. consumer remains healthy even as some economic indicators have sparked fears of a coming recession.“The U.S. economy is still in solid shape, despite the worries and concerns about trade wars, capital-investment slowdowns or other global macro conditions,” Bank of America Chief Executive Officer Brian Moynihan said on a conference call with analysts. “Across nearly every line of business, we are seeing strong consumer activity.”JPMorgan, Bank of America, Citigroup and Wells Fargo & Co. collectively made $40.6 billion in consumer revenue this quarter. JPMorgan led the group with the most consumer revenue it’s ever had in the third quarter.Still, there were notes of caution. JPMorgan and Wells Fargo increased loan-loss reserves for the second time in the past seven quarters and Citigroup increased its reserves by the most in two years.Wealth ManagementThe push by discount brokerages to eliminate commissions on many types of trades did little to dent confidence at the big banks.Bank of America and Morgan Stanley, which both own U.S. brokerages with almost $3 trillion in assets apiece, said they’re focused on longer-term relationships with wealthier customers -- the ones who are willing to pay up for better service and advice.Almost 90% of Bank of America’s self-directed trading business is already handled without commissions, Moynihan said Wednesday.Morgan Stanley CEO James Gorman said his company is aiming at households worth more than $1 million, and especially those with more than $10 million.\--With assistance from Lananh Nguyen, Michelle F. Davis, Sridhar Natarajan and Jenny Surane.To contact the reporter on this story: Gwen Everett in New York at email@example.comTo contact the editors responsible for this story: Michael J. Moore at firstname.lastname@example.org, Steve DicksonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg Opinion) -- On March 12, 2018, Morgan Stanley’s share price reached $59.38. That was a watershed moment — the highest level since November 2007, before the start of the Great Recession.Since then, the Wall Street bank’s stock has stumbled. Heading into this week, Morgan Stanley shares had fallen 26% since that post-recession high, a steeper decline than any of the other largest U.S. banks. Even just looking at 2019, Morgan Stanley’s 8% total return was meager compared with its peers: Citigroup Inc.’s 37.5%, Goldman Sachs Group Inc.’s 24.3%, JPMorgan Chase & Co.’s 22.7%, Bank of America Corp.’s 19.3% and Wells Fargo & Co.’s 10%.So it follows that Morgan Stanley’s surprisingly strong third-quarter results on Thursday led to a swift reaction among investors. Its shares surged more than 4% in pre-market trading, the sharpest initial increase among its rivals. By exceeding expectations pretty much across the board, the bank essentially proved that while it’s been down as of late, it’s by no means out.A quick recap of the earnings report: Like its rivals that reported earlier, Morgan Stanley’s fixed-income trading easily beat expectations, jumping 21% from a year ago compared with analyst predictions of a 5% decline. Its total sales and trading revenue rose 10%, a sharper increase than all peers but JPMorgan, and in aggregate dollar terms was the biggest beat on Wall Street. Morgan Stanley’s investment bankers also topped estimates. It wasn’t perfect, as wealth-management revenue fell just short of forecasts, but overall it could only be described as much better than what analysts had anticipated.Veering into the subjective for a moment, I was struck by just how confident and exuberant Morgan Stanley CEO James Gorman sounded as he kicked off the bank’s earnings conference call. In his opening statement, he spoke forcefully about how he’s looking forward to “gain share in several of our businesses” and emphatically stated that there’s “tremendous upside here.” And I’m not the only one who noticed. In the words of Bloomberg News’s Max Abelson, who was blogging about the results: “Gorman sounds so confident right now. He’s riffing, giving a lot of color, and seems to just be enjoying himself.”Perhaps that’s to be expected after a quarter like this. And, of course, shares can only rise so much on CEO optimism. But the early feedback is in from analysts, and it’s good. “Overall, we are impressed with the revenue strength and wealth management margin and believe that investors should take considerable comfort from this result,” said John Heagerty at Atlantic Equities LLP. “With lots of investors somewhere between negative to indifferent on Morgan Stanley, we’d expect a bit of a lift,” said Evercore ISI’s Glenn Schorr (who, interestingly, has held an “outperform” recommendation for years). Susan Roth Katzke of Credit Suisse called earnings per share “well ahead of what were materially reduced expectations.”The undertone in those last two comments is clear. The market appears to have been too downbeat on Morgan Stanley and is adjusting accordingly. It’s what happens after this initial move that’s tricky. Morgan Stanley’s shares presumably trailed rivals for a reason — did anything from the third quarter drastically change those views? The answer to that question might very well depend on investors’ confidence in Gorman and his executive team. Mike Mayo of Wells Fargo kicked off the conference call by bluntly stating that the bank’s expenses grew faster than revenue and asking whether there’s confidence that will change. “That’s what we’re paid to do,” Gorman said. “We are maniacally focused on it.” Later, Gorman added that Morgan Stanley has proved to be nimble as the industry changes: “We’ve shown a willingness to adjust our business model over time; the build-out of the wealth management was clearly part of that strategy.”I wrote after the bank’s second-quarter earnings that the shift to wealth management, which now makes up about half its revenue, showed Morgan Stanley was playing the long game when trading revenue can be so hit-or-miss from one period to the next. Whether investors want to stick around for the long run remains to be seen. But, at least for one day, traders are on board with Gorman’s vision.To contact the author of this story: Brian Chappatta at email@example.comTo contact the editor responsible for this story: Daniel Niemi at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brian Chappatta is a Bloomberg Opinion columnist covering debt markets. He previously covered bonds for Bloomberg News. He is also a CFA charterholder.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Companies who appointed women into CEO and CFO positions are outperforming, a new study by S&P Global Market Intelligence shows.
Before getting into the mechanics of pivot points, it’s important to understand the logic by which they operate. Specifically, the tendency of stocks to trade within support and resistance levels. This represents a medium-term look at which JP Morgan’s support and resistance levels.
DOW UPDATE Shares of Johnson & Johnson and JPMorgan Chase are seeing strong returns Thursday morning, sending the Dow Jones Industrial Average into positive territory. The Dow (DJIA) is trading 69 points, or 0.
An intensive initiative to change the face of three Dallas neighborhoods mired in blight and disinvestment will receive a $6 million boost from JPMorgan Chase.
JPMorgan Chase has broken out on the upside of some of our charts. Let's set a new bullish strategy for this money center bank and Action Alerts PLUS holding. In the daily bar chart of JPM, below, we can see that the recent new price high on the stock has refreshed an uptrend from late December.