JPM
J.P. MORGAN CHASE & CO. $45 (New York symbol JPM; Income Portfolio, Finance sector; Shares outstanding: 3.9 billion; Market cap: $175.5 billion; Price-to-sales ratio: 1.7; Dividend yield: 0.4%; TSINetwork Rating: Average; www.jpmorganchase.com) earned $15.8 billion in 2010. That’s up 79.7% from $8.8 billion in 2009. Earnings per share rose 75.3%, to $3.98 from $2.27, on more shares outstanding. That’s …read more »
The improving economy is helping more consumers repay their loans on time. That’s pushing down loan losses at J.P. Morgan and Wells Fargo. However, high unemployment is hurting loan demand, and the government is introducing new banking regulations. That will weigh on both banks’ short-term profits.
J.P. MORGAN CHASE & CO. $36 (New York symbol JPM; Income Portfolio, Finance sector; …read more »
The Securities and Exchange Commission (SEC) has accused broker Goldman Sachs of misleading investors about the risks of investing in certain mortgage-backed securities.
Fears that the SEC will launch similar lawsuits have hurt the stock prices of most major U.S. banks. As well, Congress may pass new laws aimed at preventing another financial crisis. These reforms could force banks to raise …read more »
APPLE INC. $204 (Nasdaq symbol AAPL; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 900.7 million; Market cap: $183.7 billion; Price-to-sales ratio: 5.0; WSSF Rating: Average) has won its court case against Psystar Corp., a Miami-based company that sells computers that run on Apple’s Mac operating system. Apple refuses to let other computer makers use its software, and the …read more »
ROYAL BANK OF CANADA $56 (Toronto symbol RY; Conservative Growth Portfolio; Finance sector; Shares outstanding: 1.4 billion; Market cap: $78.4 billion; Price-to-sales ratio: 2.1; SI Rating: Above Average) will buy the third party registered investment advisor servicing business of U.S. banking firm J.P. Morgan & Co. (New York symbol JPM). The deal should close in the second quarter of 2010.
This …read more »
J.P. MORGAN CHASE & CO. $33 (New York symbol JPM; Income Portfolio, Finance sector; Shares outstanding: 3.8 billion; Market cap: $125.4 billion; Price-to-sales ratio: 1.8; WSSF Rating: Average) has bought back the $25 billion in preferred shares that it sold to the U.S. Treasury under the Troubled Asset Relief Program (TARP) last year.
The bank expects to record a $1.1-billion charge …read more »
J.P. MORGAN CHASE & CO. $38 (New York symbol JPM; Income Portfolio, Finance sector; Shares outstanding: 3.4 billion; Market cap: $129.2 billion; WSSF Rating: Above average) provides a wide range of banking and other financial services in the United States and over 60 other countries.
Morgan recently completed its takeover of troubled investment broker Bear Stearns Cos. Inc. for $1.5 billion …read more »
OILEXCO INC. $13.92 (Toronto symbol OIL; SI Rating: Speculative) (403-262-5441; www.oilexco.com; Shares outstanding: 216.2 million; Market cap: $3.0 billion) has started production from its 100%-owned Brenda and 70%-owned Nicol oil finds in the UK North Sea. The company estimates that production from the three wells in Brenda and one well in Nicol will average 30,000 barrels of oil a day …read more »
J.P. MORGAN CHASE & CO. $50 (New York symbol JPM; Income Portfolio, Finance sector; Shares outstanding: 3.5 billion; Market cap: $175.0 billion; WSSF Rating: Above average) is the third-largest bank in the United States.
In the past few years, J.P. Morgan has expanded its retail banking operations, which offsets its exposure to its more volatile businesses like stock trading. In 2003, …read more »
Bank stocks have been among our top performers in the past few years, as an improving economy and low interest rates spurred strong demand for loans. Many banks have used their strong earnings to make acquisitions. Their bigger size gives them access to new clients and economies of scale. (However, a bigger market cap also limits the possibility of a …read more »
