NEW YORK—JPMorgan could lose about $1 billion on its Russia exposure, Chief Executive Jamie Dimon said on Monday, detailing the extent of the bank’s potential losses from the conflict in Ukraine for the first time. In his keenly watched annual letter to shareholders, the chairman and chief executive of the biggest U.S. bank by assets…
JPMorgan CEO Warns of Possible $1 Billion Russia Loss
April 5, 2022
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Russia, China Woes Risk Worst EM Corporate Default Wave Since Financial Crash: JPMorgan
April 4, 2022
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LONDON—JPMorgan has warned that the combination of Russia’s war in Ukraine and China’s ongoing property crash could see the worst wave of corporate defaults since the global financial crisis. A new report from the bank’s analysts on Monday estimated the emerging market-wide default rate would now reach 8.5 percent, more than double the 3.9 percent…
This Day in Market History: Bear Stearns Merges With JPMorgan
Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date. What Happened? On March 16, 2008, Bear Stearns merged with JPMorgan Chase & Co. Where The Market Was The Dow finished the next day at 11,972.25. What Else Was Going On in The World? In 2008, U.S. property…
Goldman Sachs, JPMorgan to Exit Russia in Wake of Ukraine Invasion
March 11, 2022
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Goldman Sachs is one of the first major global investment banks to exit Russia in the wake of its invasion of Ukraine. A spokesperson for Goldman Sachs told CNBC in a statement that it is “winding down its business in Russia in compliance with regulatory and licensing requirements” and is “focused on supporting our clients…
Amazon Remains JPMorgan’s Top Overall Idea in Internet
JPMorgan analyst Doug Anmuth says Amazon.com Inc. remains his top overall idea in the internet space. The re-rating came after the Department of Commerce released Q4 U.S. e-commerce sales of $258 billion, shy of the firm’s $270 billion estimates. The e-commerce sales were due to a softer than expected holiday season, the continued resurgence of brick and mortar retail…
Russia Will Be Excluded From All JPMorgan Fixed Income Indexes
March 8, 2022
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NEW YORK—Russia will be excluded from all of JPMorgan’s fixed income indexes on March 31, the bank said in a statement on Monday, joining rival index providers that had excluded Russian securities from their indexes after Moscow’s invasion of Ukraine. JPMorgan had placed Russia on index watch on March 1 after sanctions were imposed on…
Chart Wars: Will Bank of America or JPMorgan Soar Higher on a Break of This Key Pattern?
February 24, 2022
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Bank of America Corporation and JP Morgan Chase & Co. opened higher on Wednesday in tandem with the S&P 500, but selling pressure entered just after 9:35 a.m., when Newsweek released an exclusive report stating a full-scale Russian invasion of Ukraine was likely within 48 hours. Both stocks have been trading in a downtrend since Feb….
JPMorgan Raises Annual Forecast for Net Interest Income to $53 Billion
JPMorgan Chase & Co. expects its net interest income to grow to $53 billion in 2022, up nearly $3 billion from its prior forecast, Chief Financial Officer Jeremy Barnum said on Friday at a conference hosted by Credit Suisse.
JPMorgan, Toshiba, Ciena Find New Way to Protect Blockchain With Quantum Network
February 18, 2022
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NEW YORK—A team of quantum computing engineers from JPMorgan Chase & Co., Toshiba Corp. and Ciena Corp. say they have successfully shown that a powerful, newly-developed encryption network can be used to protect communications on the blockchain, according to a paper published Thursday. The group of researchers say it is the first time that a…
Read How Analysts View Alphabet Post Q4, Stock Split
February 3, 2022
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Analysts bumped up price targets on Alphabet Inc following Q4 Beat and stock split. Alphabet stock split adds pressure on Amazon.com Inc to follow suit, said Morgan Stanley. JPMorgan ups Alphabet target but ‘not chasing the shares.’ Jefferies analyst Brent Thill raised the PT to $3,600 from $3,500 (30.5 percent upside) and reiterated a Buy. Thill said “another strong quarter at scale” that…
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