Analysts' Recommendation: Hold 30 Days Ago: Buy Analysts' Target: $43 Analysts' Targets UBS Securities $37 Hold Wednesday, July 02, 2008 Ladenburg, Thalmann $39 Neutral Wednesday, June 25, 2008 Lehman Brothers $50 Equalweight Monday, June 09, 2008 Punk, Ziegel & Company $44 Mkt Perform Friday, February 29, 2008 BusinessWeek Rankings Best Global Brands Best Global Brands 2007 #32 2006 #33 Best Places to Launch a Career Best Places to Launch a Career 2007 #17 2006 #9 JPMorgan Chase & Co., a financial hold...
As seen on the S&P report: We anticipate further pressure in JPM's market-sensitive business in 2008, as the environment remains challenging.We expect near-term results to be pressured by credit quality issues in its sub-prime mortgage, auto, home equity, and credit card portfolios. Return on equity increased from 7.8% in 2005 to 12.2% in 2006 and 13.0% in 2007.We think recent expense management initiatives, implemented by Mr. Dimon, JPM's CEO, will help drive ROE improvement in 2008.We see EPS growth of 5% annually over the next three years.
TheStreet.com's Jim Cramer says the acquired Bear Stearns portfolio is worth even less than he thought.
How bad was that Bear Stearns portfolio? I am beginning to believe that JPMorgan's (NYSE: JPM) (Cramer's Take) buy of Bear is looking like a big mistake. It can only be justified by what might have been an even bigger p...
JPM has the world's largest exposure to credit default swaps (CDS) with notional exposure of $8.0 trillion (yes trillion not billion!) and BSC is the second largest with notional exposure to CDS of $2.7 trillion. JPM’s largest counterparty exposure in CDS could reasonably be expected to be on BSC. I suspect that the notional exposure would have accounted for circa 5% of BSC’s book leaving JPM with an exposure of $135 billion.
However this direct exposure would have been subject to various netting arrangements which would have reduced the net exposure to a much lower amount.
Dimon has had great timing on his side, and therefore looks a lot better than he really is. Smart? yes. Mostly honest? yes. Able to trade his company around the biggest credit collapse in history? No way, not possible.
Did he acquire Bear because he felt he needed to support a trading partner, or because he actually "got a steal" of a price? Probably the former, unfortunately for Dimon-lovers.
JPM is not the city on the hill, looking down at all the sheep. Niether is GS for that matter. The stock will either go away entirely, or at LEAST trade down 80% from the all-time
JPMorgan fell as low as $37 last time when the financials crashed and then rallied to as high as $49.95 and is currently at $37.51. It's a good entry point to own one of the relatively untouched stocks....untouched by the subprime mayhem.
The only bad news i have heard is that some analysts are not too optimistic about the JPM's Bears takeover but remember, Fed's got their back
Short interest in Countrywide Financial (NYSE:CFC) moved up by a big 26 million shares as of May 15 to 102.4 million compared to the number on April 30. Someone thinks the deal for Bank of America (NYSE:BAC) to take the company over may be in trouble. Shares of a number of other financial companies were also hit hard during the period.
With everyone, including the FBI and US Congress, looking into Countrywide's lending practices and stock sales by management, the short gamble may b
4/17 - "We are adjusting our 2008, 2009 and 2010 estimates. We are raising our 2008 estimate to $3.85 from $3.30 to incorporate a $5.0 bn gain from the closing of BSC. Excluding this gain, our 2008 estimate would have been reduced as we assume additional weakening in consumer credit quality trends as well as a more challenging capital markets outlook. In addition to our 2008 adjustments, we are lowering our 2009 and 2010 estimates to $3.70 and $4.70 from $4.15 and $4.90."
"Consumer credit quality trends will continue to deteriorate, particularly in mortgages, home equity and credit cards. ...
4/17 - "JPM posted 1Q EPS of $0.68, vs. est. $0.72, Cons. $0.64. Miss vs. our model was principally in the Investment Bank on higher than expected mark on distressed assets positions, lower investment banking revenue; partly offset by higher than expected VISA gain, reversal of legal charge...As expected, credit deteriorated substantially. Firm-wide net provision (for losses) up 61% vs. 4Q, up staggering 220% YoY...In sub-prime mortgages, losses now expected to run about $175mn per quarter in 2008 (up from $75mn)."
"Credit conditions continue to worsen in almost every category, and managem...
TheStreet.com's Jim Cramer says that until we have some clarity on the way out, we'll have a tough road ahead.
This is a confusing moment, for the same reason as always -- the darned mortgage market. Dueling plans seem destined to go nowhere while defaults continue to go up. We need something to stabilize the house price...
In this April 1st article, I wasn't kidding around when I chose less popular stocks over hotly debated names like Google (NASDAQ: GOOG), Apple Inc (NASDAQ: AAPL) and Lehman Brothers Holdings (NYSE: LEH). Because investing is not blogging-the amount of hits, traffic and debate a topic stirs up does not help you make money (in fact it might hinder it considering all the cheerleaders are already investe...
financial industry next 5 years
- which financial companies are positioned to withstand the current negative news in the mortgage industry. Thinking about the next 5 years, who are go
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