Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Thursday, April 15, 2016

Article Excerpt

J.P. MORGAN CHASE & CO., $61.88, New York symbol JPM, is the largest banking firm in the U.S., with assets of $2.4 trillion. In the three months ended March 31, 2016, Morgan earned $5.5 billion, or $1.35 per share. That’s a 6.7% drop from $5.9 billion, or $1.45, a year earlier. Even so, earnings beat the consensus forecast of $1.26 a share. Revenue fell 3.0%, to $24.1 billion from $24.9 billion, but that also beat the consensus forecast of $23.4 billion. The bank continues to see strong consumer and business demand for new loans. However, lower trading volumes and less underwriting work for corporate clients offset these gains. Morgan is doing a good job controlling its costs. This includes closing branches as more people bank online. In the latest quarter, it cut operating expenses by 7.0%. Weaker prices for oil, natural gas and other commodities could make it harder for borrowers in those industries to repay their loans. In the latest quarter, Morgan set…