Here’s this week’s round-up of J.P. Morgan Chase & Co. (NYSE:JPM) stock briefings. J.P. Morgan Chase & Co. (NYSE:JPM) company shares ended the week at 39.17 (as of 9/3/2010).
Weekly News Roundup: J.P. Morgan Chase & Co. (NYSE:JPM)
Monday 30 August
A Zacks analyst report has defended JPMorgan Chase & Co. (NYSE:JPM) over mortgage modifications and HAMP.
JPMorgan Chase & Co.’s (NYSE:JPM) U.S. consumer and commercial banking arm Chase said on Wednesday that it has in fact offered more than 900,000 mortgage modifications since the beginning of 2009 in accordance with the Home Affordable Modification Program (HAMP), in efforts to reduce home foreclosure rates.
The company has met 140,000 homeowners in face-to-face counselling sessions in the hardest-hit areas of home foreclosure.
Wednesday 1 September
JPMorgan Chase & Co. (NYSE:JPM) is closing down its proprietary trading operations this month, and has notified its 20 or so proprietary-commodities traders that their positions will be eliminated, according to a person familiar with the matter.
Proprietary trading is simply when the company’s own traders actively trade securities with the company’s own money, as opposed to clients’.
Thursday 2 September
JPMorgan Chase & Co. (NYSE:JPM) did well Wednesday, leading a rally in the Dow Industrials as manufacturing data was released showing strength in the sector.
The company gained 1.38 points, or 3.8%, to end the day at 37.74. The Dow rose 254.75 points, or 2.54% to close at 10,269.47.
Friday 3 September
Chase Bank, an arm of JPMorgan Chase & Co. (NYSE:JPM) announced it is hiring 125 to 150 full-time workers for its Tempe, Arizona, operations center, said spokeswoman Mary Jane Rogers. The company will hold a job fair in downtown Phoenix on Sept. 9, in order to find the underwriters, closers, processors and managers it needs for it’s new branch.
We will be monitoring the J.P. Morgan Chase & Co. (NYSE:JPM) share price for developments over the next few weeks.