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☆ JPMorgan lands as winner in U.S. regulator auction of First Republic
  + stars: | 2023-05-01 | by ( Scott Murdoch Niket Nishant | Scott Murdoch | Niket Nishant | ) www.reuters.com   time to read: +5 min
First Republic was one of the major casualties of the banking crisis triggered in March, when depositors fled en masse from some U.S. lenders to institutions such as JPMorgan that they thought were safer. [1/2] People walk past a First Republic Bank branch in San Francisco, California, U.S. April 28, 2023. JPMorgan has assumed all of the bank's deposits, it said, and will repay $25 billion of the $30 billion big banks deposited with First Republic in March. JPMorgan said it expected to achieve a one-time, post-tax gain of about $2.6 billion after the deal. The failed bank's 84 offices in eight states will reopen as branches of JPMorgan Chase Bank from Monday, it added.
☆ Global equities could be the lowest-performing asset class this year, says JPM's Joyce Chang
  + stars: | 2023-04-17 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGlobal equities could be the lowest-performing asset class this year, says JPM's Joyce ChangJoyce Chang, JPMorgan chair of global research, joins 'Squawk on the Street' to discuss weighing recession risk, resolving debt ceiling conflicts, and more.
☆ Bigger banks rise while regionals slump as Q1 earnings season kicks off
  + stars: | 2023-04-14 | by ( Sinéad Carew Saqib Iqbal Ahmed | Sinéad Carew | Saqib Iqbal Ahmed | ) www.reuters.com   time to read: +3 min
JPMorgan, the biggest U.S. lender by assets, reported a first-quarter profit that beat estimates with interest income offseting weakness in dealmaking. PNC shares were last down 1.9% while Zions was off 3.3% and Comerica Inc (CMA.N) shares fell 3.0%. First Republic shares fell 1.5%. Citi shares rose 4.2% and Bank of America was up 3.0% as their investors appeared to be encouraged by JPM's news. Morgan Stanley shares rose 0.9% while Goldman shares were up 1.1%.
☆ Still expect economy to hit mild recession later in 2023, says JPM's Michael Feroli
  + stars: | 2023-04-14 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStill expect economy to hit mild recession later in 2023, says JPM's Michael FeroliJPMorgan chief U.S. economist Michael Feroli joins 'Squawk on the Street' to discuss disinflation without recession, the potential for a resurgence of stress in the banking system, and Fed policy plans for 2023.
☆ Watch CNBC's full interview with JPM's Michael Feroli on recession risks
  + stars: | 2023-04-14 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with JPM's Michael Feroli on recession risksJPMorgan chief U.S. economist Michael Feroli joins 'Squawk on the Street' to discuss disinflation without recession, the potential for a resurgence of stress in the banking system, and Fed policy plans for 2023.
☆ Golf and bowling see an uptick in consumer interest following the pandemic, says JPM's Matt Boss
  + stars: | 2023-04-10 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGolf and bowling see an uptick in consumer interest following the pandemic, says JPM's Matt BossMatt Boss, leisure analyst at JP Morgan, joins 'The Exchange' to discuss the macro and micro picture for the golf industry, and post-pandemic growth in golf, and the latest innovations in golf driving spending.
☆ Employee bargaining power is limited with wage growth below inflation, says JPM's David Kelly
  + stars: | 2023-03-29 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEmployee bargaining power is limited with wage growth below inflation, says JPM's David KellyDavid Kelly, JP Morgan Asset Management chief global strategist, joins 'Squawk on the Street' to discuss the Federal Reserves rate policy plan, the Chinese economy's influence on U.S. inflation, and investment opportunities in international stocks.
☆ This Fed still has a bias toward hiking but I'm not sure it's necessary, says JPM's Pandit
  + stars: | 2023-03-22 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThis Fed still has a bias toward hiking but I'm not sure it's necessary, says JPM's PanditJPMorgan Asset Management's Meera Pandit joins 'Closing Bell' to discuss today's Fed rate hike and how it could impact the markets down the road.
☆ Here are Morgan Stanley's favorite quality stocks to buy as bear market nears end
  + stars: | 2023-03-21 | by ( Michelle Fox | ) www.cnbc.com   time to read: +5 min
As investors start preparing for the end of the bear market, Morgan Stanley has identified a number of stocks it expects to outperform once the next bull market begins. He has an overweight rating on the stock and a $135 price target, which suggests about 33% upside from Monday's close. He has an overweight rating on Costco and a $520 price target, which implies a little more than 6% upside from Monday's close. Graseck has an overweight rating on JPM and a $173 price target, which implies 36% upside from Monday's close. His $155 price target suggests the stock could rally more than 20% from Monday's close.
☆ Watch CNBC's full interview with Ironsides' Barry Knapp and JPM's Gabriela Santos
  + stars: | 2023-03-17 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Ironsides' Barry Knapp and JPM's Gabriela SantosBarry Knapp, managing partner and director of research at Ironsides Macroeconomics, and Gabriela Santos, global market strategist at JPMorgan Asset Management, join 'Squawk Box' to discuss bank failure, buying bonds, and the Fed's inflation approach going forward.
☆ Lean toward high quality balance sheets that can withstand elevated capital costs, says JPM's Lakos
  + stars: | 2023-03-09 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLean toward high quality balance sheets that can withstand elevated capital costs, says JPM's LakosJPMorgan's Dubravko Lakos joins 'Closing Bell' to discuss elevated rates and cost of capital, margin pressure from interest expense burden and constructing a defensive portfolio.
☆ A no landing is not a steady state, the Fed will not tolerate inflation, says JPM's Gabriela Santos
  + stars: | 2023-03-07 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA no landing is not a steady state, the Fed will not tolerate inflation, says JPM's Gabriela SantosGabriela Santos, JPMorgan Asset Management global market strategist, joins 'Closing Bell' to discuss Asia investment strategies, regulatory struggles associated with China and Chinese consumers' luxury spending practices.
☆ We think the odds of a signal failure are pretty high here, says JPM's Jason Hunter
  + stars: | 2023-03-02 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe think the odds of a signal failure are pretty high here, says JPM's Jason HunterJPMorgan Head of Technical Strategy Jason Hunter joins 'Closing Bell' to discuss whether the markets are approaching a moment of truth.
☆ Here are Thursday's biggest analyst calls: Tesla, Apple, Intel, Teladoc, Nvidia, Salesforce & more
  + stars: | 2023-02-23 | by ( Michael Bloom | ) www.cnbc.com   time to read: +8 min
Bank of America reiterates Target as neutral Bank of America said it sees "modest upside" at current levels. Bank of America downgrades Lucid Group to neutral from buy Bank of America said it's concerned about slowing demand for the luxury vehicle company. Bank of America reiterates Nvidia as buy Bank of America said Nvidia remains "best-in-class" after its earnings report on Wednesday. Bank of America reiterates CVS as buy Bank of America said it sees "significant free cash flow generation potential" for CVS. Goldman Sachs upgrades Nvidia to buy from neutral Goldman upgraded Nvidia after its "impressive" earnings report on Wednesday.
☆ The stock market is a little too optimistic about where we go from here, says JPM's Meera Pandit
  + stars: | 2023-02-16 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe stock market is a little too optimistic about where we go from here, says JPM's Meera PanditJPMorgan Asset Management's Meera Pandit joins 'Closing Bell: Overtime' to discuss why she sees red flags ahead for stocks and believes the U.S. is headed for a recession.
☆ See how Wall Street CEO pay stacks up after a brutal year for investment banking — from David Solomon to Jamie Dimon
  + stars: | 2023-01-27 | by ( Emmalyse Brownstein | ) www.businessinsider.com   time to read: +3 min
The pay cut follows a 20% drop in 2022 revenues and a $3.8B loss in the consumer bank over 3 years. Goldman Sachs CEO David Solomon has taken a 30% pay cut for 2022, according to documents filed by the firm on Friday. Solomon's 2022 compensation includes an annual, unchanging base pay of $2 million in addition to $23 million in bonus, which varies each year. Investment banking revenues are down across Wall Street as M&A dealmaking and IPOs dry up. But Solomon's pay cut stands to be the steepest among his Wall Street CEO peers.
☆ Exclusive: JPMorgan looking to finance Italy's Serie A for up to 1 bln euros - sources
  + stars: | 2023-01-26 | by ( Elvira Pollina | ) www.reuters.com   time to read: +2 min
The sources said the 20 clubs which comprise Serie A were informed of the interest by the U.S. bank at a closed-door meeting of their top executives on Thursday. Serie A has been looking at options to extract more money from its media rights, which account for roughly half the revenues of its clubs. Like other European soccer leagues, Serie A lags behind England's Premier League in terms of income and is looking at ways to revive its global appeal. Back in 2021 JPMorgan had offered to support soccer clubs looking to launch a breakaway European Super League, a plan which collapsed due to a storm of protest from fans and politicians. The sources said the Serie A clubs will assess in the coming weeks how to proceed in relation to the interest expressed by both the funds and JPMorgan.
☆ Exclusive: JPMorgan looking to finance Italy's Serie A for up to 1 bln euros -sources
  + stars: | 2023-01-26 | by ( Elvira Pollina | ) www.reuters.com   time to read: +4 min
The sources said the 20 clubs that comprise Serie A were informed of the interest by the U.S. bank at a closed-door meeting of their top executives on Thursday. Serie A has been looking at options to extract more money from its media rights, which account for roughly half the revenues of its clubs. Like other European soccer leagues, Serie A lags England's Premier League in terms of income and is looking at ways to revive its global appeal. The sources said Serie A clubs learnt on Thursday that Apollo Global Management (APO.N) had also come forward, without providing further details. Prior to that meeting, clubs are due to discuss in mid-February the sale process of the media rights, which is expected to start later this year.
☆ Wall Street banks stockpile funds for possible recession, show resilience
  + stars: | 2023-01-13 | by ( ) www.reuters.com   time to read: +4 min
REUTERS/Jeenah Moon/File Photo/File PhotoNEW YORK, Jan 13 (Reuters) - Wall Street's biggest banks stockpiled more rainy-day funds to prepare for a possible recession ahead and reported weak investment banking results, but said consumers remained healthy and higher rates boosted profits. Strength in trading helped offset a slump in investment banking, while interest rate hikes by the U.S. Federal Reserve helped income. However, Citigroup Inc (C.N) reported a 21% fall in profits with investment banking taking a hit. Global investment banking revenue sank to $15.3 billion in the fourth quarter, down more than 50% from a year-earlier quarter, according to data from Dealogic. Bank of America's investment banking fees more than halved in the quarter.
☆ Our best stories on financial tech in 2022
  + stars: | 2022-12-30 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +6 min
Today, we're going to recap all the great stories we've done this year on financial tech, whether it's up-and-coming startups or the projects at the biggest banks and investment firms. Wall Street and sports have a long history together. How top Wall Street firms are testing out cutting-edge tech. Shaw, here are 10 of the most innovative tech projects at top Wall Street firms. And we also identified the top Big Tech executives who could get poached by Wall Street firms looking to do more in the cloud.
☆ The top stories in the world of banking in 2022
  + stars: | 2022-12-29 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +4 min
While 2022 wasn't a banner year for banks, it also wasn't a complete disaster. Will Nance, Neena Bitritto-Garg, Corinne Blanchard, and Michael Elias Goldman Sachs; Citi; Cowen; Deutsche Bank; Sean Gladwell/Getty; Savanna Durr/Insider1. At Goldman Sachs ID swipes were tracked. But by 2022 the wheels were starting to fall off on CEO David Solomon's consumer ambitions, as first reported by Insider. This fall, Wells Fargo made the decision to move tens of thousands of accounts out of its private bank that had under $5 million.
☆ Watch CNBC's full interview with Neuberger Berman's Erik Knutzen and JPM's Jordan Jackson
  + stars: | 2022-12-27 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Neuberger Berman's Erik Knutzen and JPM's Jordan JacksonErik Knutzen, chief investment officer of Neuberger Berman's multi-asset class portfolios, and Jordan Jackson, global market strategist at J.P. Morgan, join 'Squawk on the Street' to discuss strength in the jobs market, cooling in the demand for services, and more.
☆ Bank of America reveals its 'best-in-class' stocks for 2023
  + stars: | 2022-12-17 | by ( Michael Bloom | ) www.cnbc.com   time to read: +6 min
Analysts at Bank of America unveiled this week a slew of must-own stocks for 2023. CNBC Pro combed through recent research to find Bank of America's 'best-in-class" stocks heading into next year. "Although 2022 has been a year of modest growth for Lilly, shares have outperformed based largely on tirzepatide's peak potential," he wrote. Eli Lilly "Although 2022 has been a year of modest growth for Lilly, shares have outperformed based largely on tirzepatide's peak potential. Given this backdrop, Lilly remains a top pick, as we see its new product cycle / LT growth as clearly best-in-class."
☆ Morgan Stanley double upgrades JPMorgan Chase, sees positive operating leverage for the bank in 2023
  + stars: | 2022-12-06 | by ( Sarah Min | ) www.cnbc.com   time to read: +1 min
Analyst Betsy Graseck double upgraded the bank's stock to overweight from underweight, saying JPMorgan will have positive operating leverage next year. Operating leverage indicates how well a company can raise operating income by generating revenue. The analyst said negative operating leverage in 2022 was a "key reason" for her underweight rating, "as operating leverage is the biggest driver of large cap bank stock alpha." The firm expects JPMorgan will deliver 110 basis points of positive operating leverage in 2023, with revenues up 10% and expenses up 9% year over year. "While 110bps isn't an eye-popping number, it's a significant inflection from the last two years of negative operating leverage at JPM (-510bps in 2021,est.
☆ Here are Tuesday's biggest analyst calls: Tesla, Apple, JPMorgan Chase, GE, Starbucks, Costco & more
  + stars: | 2022-12-06 | by ( Michael Bloom | ) www.cnbc.com   time to read: +7 min
Here are Tuesday's biggest calls on Wall Street: UBS reiterates Apple as buy UBS said Apple's iPhone supply chain headwinds are abating. Cowen reiterates TJX Company as outperform Cowen said it's feeling more bullish on the stock after a series of recent management meetings. Piper Sandler reiterates Tesla as outperform Piper said reports of Tesla cutting production in China are mostly overdone. Bank of America reiterates Chipotle as buy Bank of America said the Mexican chain restaurant has "price elasticity." Oppenheimer upgrades General Electric to outperform from market perform Oppenheimer said it's starting to see strong execution from GE .
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