Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Friday, January 16, 2015

Article Excerpt

J.P. MORGAN CHASE & CO., $55.93, New York symbol JPM, earned $4.9 billion, or $1.19 a share, in the three months ended December 31, 2014. That’s down 6.6% from $5.3 billion, or $1.30, a year earlier. The latest results included $990 million of legal costs as Morgan continues to settle lawsuits related to its role in the 2008 subprime mortgage crisis. Without these expenses, it earned $1.54 a share in the latest quarter, beating the consensus estimate of $1.31. Revenue fell 2.8%, to $22.5 billion from $23.2 billion, missing the consensus estimate of $22.6 billion. Lower interest rates have cut the income Morgan earns on consumer and business loans. But the recent market volatility has raised its fee income from stock and bond trading. The bank set aside $840 million to cover bad loans in the latest quarter. In the fourth quarter of 2013, it took back some of the funds it had reserved for this purpose, leaving its year-earlier provisions at just…