JPMorgan analyst Samik Chatterjee reiterated an Overweight rating on Qualcomm Inc. with a $225 price target, ahead of the company’s fiscal Q1 results. The price target implies an upside of 28 percent. The analyst sees a favorable setup saying Apple Inc.’s print points to solid demand for Qualcomm’s largest customer. The combination of supply chain easing, share gains with android…
Analysts Bump up Corning Price Target Post Q4 Results
Analysts lifted their price targets on Corning Inc. post Q4 results. Barclays analyst Tim Long raised the price target on Corning to $52 from $47 (26 percent upside) and reiterated an Overweight rating on the shares. The company’s results and guidance were above expectations, with continued strength in optical and outperformance in life sciences and Hemlock boosting results. JPMorgan analyst…
Tesla Countersues JPMorgan, Claims Bank Sought ‘Windfall’ After Musk Tweet
NEW YORK—Tesla Inc. on Monday fought back against JPMorgan Chase & Co over a disputed bond contract, countersuing the bank for seeking a “windfall” following Elon Musk’s notorious 2018 tweet that he might take his electric car company private. In a filing in Manhattan federal court, Tesla accused JPMorgan of “bad faith and avarice” for…
JPMorgan Merges EU Operations Into Single German Business
LONDON—American banking giant JPMorgan has merged most of its European Union businesses into a single entity in Germany, it said on Monday, seeking to make its business in the bloc more competitive after Britain’s departure. The bank said it had simplified its European structure by merging its Luxembourg and Irish entities into German business JP…
MagnaChip Ratifies $75 Million Share Buyback
MagnaChip Semiconductor Corp’s board approved a share buyback program of up to $75 million. MagnaChip forged an accelerated stock repurchase agreement with JPMorgan Chase Bank, National Association to repurchase an aggregate of $37.5 million of Magnachip’s common stock. MagnaChip held $276.3 million in cash and equivalents and generated $19.7 million in operating cash flow as of September 30. MagnaChip designs…
JPMorgan Sees 41 Percent Upside in FuboTV, Remarking Attractive Entry Point
JPMorgan analyst Anna Lizzul initiated coverage of FuboTV Inc (FUBO) with an Overweight rating and a $28 price target, implying a 41.63 percent upside. FuboTV launched in 2015 and is a live TV streaming platform, providing subscribers access to live sports, entertainment, and news, Lizzul tells investors in a research note. The analyst sees value…
JPMorgan Says 2022 to See Full Global Recovery
December 8, 2021
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LONDON—U.S. investment bank JP Morgan predicted on Wednesday that 2022 will mark the end of the coronavirus pandemic and see a full global economic recovery. Marko Kolanovic, its Chief Global Markets Strategist & Co-Head of Global Research, said the bank expected the U.S. S&P 500 to rise nearly 8 percent to 5050 points, emerging market…
Dimon’s CCP Walk Back an All Too Familiar Reality
December 3, 2021
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Commentary JPMorgan Chase CEO Jamie Simon said out loud what many business leaders know, but are afraid to say. At a late November industry conference in Boston, Dimon said “I’ll make a bet that we last longer [than the CCP.]” He continued by joking that “I can’t say that in China. They are probably listening…
JPMorgan CEO Says His Bank Will Outlast China’s Communist Party
JPMorgan Chase’s chief executive officer Jamie Dimon joked that his bank will last longer than the Chinese Communist Party (CCP) on Tuesday, while he reiterated the bank’s commitment to doing business in China. “I made a joke the other day that The Communist Party is celebrating its 100th year—so is JPMorgan,” Dimon said during a panel…
JPMorgan Wins Appeal Against Insurers Over Bear Stearns Settlement
NEW YORK—New York’s highest court ruled on Tuesday that JPMorgan Chase & Co is entitled to insurance coverage for $140 million of a U.S. Securities and Exchange Commission settlement with the former Bear Stearns Cos over improper mutual fund trading. Reversing a lower court ruling, the Court of Appeals ruled 6-1 that the $140 million…
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