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Weekly News Roundup: J.P. Morgan Chase & Co. (NYSE:JPM)

Here’s a run-down of JP Morgan Chase & Co. (NYSE:JPM) news briefs from last week. JP Morgan Chase & Co. (NYSE:JPM) company shares ended the week at 44.54 (as of 1/28/2011).

Weekly News Roundup: J.P. Morgan Chase & Co. (NYSE:JPM)

Tuesday 25 January

J.P. Morgan Chase & Co. (NYSE:JPM) has reduced its stake in Ganette Co.
The company said in a statement that it has reduced its stake in the country’s biggest news paper publisher, Ganette Co, the owner of the USA Today.

Although J.P. Morgan Chase & Co. (NYSE:JPM) still remains as the largest shareholder, it owns only 8.9 percent of the total stake, from the previous 10.2 percent.

As per the latest document submitted to the Securities and Exchange Commission, J.P. Morgan Chase & Co. (NYSE:JPM) now holds 21.4 million shares in the company.

Friday 28 January

J.P. Morgan Chase & Co. (NYSE:JPM) has hired a new North American CIO.
According to the latest report from J.P. Morgan Chase & Co. (NYSE:JPM), it has hired Irene Tse, a former managing director and portfolio manager from Duquesne Capital Management. Tse will be replacing the retiring Althea Duersten.

It was also reported that Tse, 17-year veteran, will also be joining the company’s Executive Committee.

The expertise of the newly appointed CIO in macro investing is expected help J.P. Morgan Chase & Co. (NYSE:JPM) in its efforts to expand the market share.

We will be monitoring the JP Morgan Chase & Co. stock level for developments over the next few weeks.

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Weekly News Roundup: J.P. Morgan Chase & Co. (NYSE:JPM)

Here are this week’s news briefs for JP Morgan Chase & Co. (NYSE:JPM). JP Morgan Chase & Co. (NYSE:JPM) company shares ended the week at 45.29 (as of 1/21/2011).

Weekly News Roundup: J.P. Morgan Chase & Co. (NYSE:JPM)

Monday 17 January

J.P. Morgan Chase & Co. (NYSE:JPM) has been asked to back credit efforts in China.
The state planning body of China has asked J.P. Morgan Chase & Co. (NYSE:JPM) to invest in some schemes that offer credit guarantees to small and medium sized enterprises in the country, an initiative aimed at helping these small and medium sized firms find financing support.

The persons familiar with the issues said that the news has met with mixed reception at the firm.

Tuesday 18 January

J.P. Morgan Chase & Co. (NYSE:JPM) has reported that Korean borrowers are targeting Asia currency demand.
The company said in a statement that the Korean companies can cut their funding costs in 2011 as the investors are speculating exchange rate appreciation.

Murlidhar Maiya, J.P. Morgan Chase & Co. (NYSE:JPM)’s head of emerging Asia debt capital markets, said that, “Investors are very interested in taking exposure to Asian currencies, and South Korean borrowers are looking at arbitrage opportunities between different markets.

Highly-rated Korean issuers are “well placed” to attract buyers seeking to limit risk while betting on currencies such as the Philippine peso and Indonesian rupiah”.

Wednesday 19 January

J.P. Morgan Chase & Co. (NYSE:JPM) has sold its first sterling-denominated bond since 2008.
For the first time in more than two years, J.P. Morgan Chase & Co. (NYSE:JPM) sold bonds denominated in British Pounds.

The company had announced a record fourth quarter profit last week.

According to data revealed by Bloomberg, the second largest US bank by assets issued $799 million-worth of 4.25 percent six-year notes having yielding points of 150.

J.P. Morgan Chase & Co. (NYSE:JPM) last issued bonds in British currency in December 2008.

Thursday 20 January

Two top executives at J.P. Morgan Chase & Co. (NYSE:JPM) have sold shares totalling $5.5 million.
Although the company reported an impressive result for the fourth quarter, two top level executives sold shares worth $5.5 million.

Heidi Miller, an executive vice president, sold his 69,298 shares on Jan. 18 for $3.1 million or $44.97 each on average. Mary Erdoes, a managing director, sold 53,000 shares for $2.4 million, or about $45.05 each.

J.P. Morgan Chase & Co. (NYSE:JPM) did not comment on the news.

Friday 21 January

J.P. Morgan Chase & Co. (NYSE:JPM) has hired James Woolery as the co-head of North American mergers.
The company announced the arrival of James Woolery, a partner at the law firm Cravath, as part of the management changes in the investment banking group.

According to the statement from J.P. Morgan Chase & Co. (NYSE:JPM),Chris Ventresca, who has co-managed the North American mergers and acquisitions division for the last two years, will be remaining a co-head with Woolery.

We will continue checking the JP Morgan Chase & Co. stock level for changes over the next couple of weeks.

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J.P. Morgan Chase & Co. (NYSE:JPM) Refunds Troops

J.P. Morgan Chase & Co. (NYSE:JPM) has agreed to pay troops for mortgage interest overcharging.

JP Morgan Chase & Co. (NYSE:JPM) stocks are currently standing at 44.75.

J.P. Morgan Chase & Co. (NYSE:JPM) Refunds Troops

J.P. Morgan Chase & Co. (NYSE:JPM) bank officials have admitted the error and have started sending out $2 million in refunds to the personals who were requested to pay more than 6% interest on their home loans.

The company says it realized the mistake when Captain Jonathan Rowles of the U.S. Marines complained to the bank for overcharging him on mortgage.

If you believe this is a good time to make a play on the JP Morgan Chase & Co. (NYSE:JPM) stocks, make sure you do it at the right price. Timing the market or technical analysis is often a hard task, but do make sure you take into account the price history:

Price History
Last Price: 44.75
52 Week Low / High: 35.16 / 48.2
50 Day Moving Average: 41.09
6 Month Price Change %: 13.8%
12 Month Price Change %: 1.0%

We will continue checking the JP Morgan Chase & Co. (NYSE:JPM) stock price for changes over the next few weeks.

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J.P. Morgan Chase & Co. (NYSE:JPM) On Nigerian Bond Offering

J.P. Morgan Chase & Co. (NYSE:JPM) has said that Nigeria’s $500 million international bond will yield more than Ghana’s debt.

JP Morgan Chase & Co. (NYSE:JPM) shares are currently standing at 43.71.

J.P. Morgan Chase & Co. (NYSE:JPM) On Nigerian Bond Offering

The analysts at J.P. Morgan Chase & Co. (NYSE:JPM) said that the debut international bond to be sold this week will probably yield more than Ghana’s dollar debt because of fiscal deterioration and political risks.

The analysts said that, “Recent experience in sub-Saharan and North Africa has increased political risks in the minds of investors who will likely demand some additional compensation for political uncertainty in the run-up to elections.”

If you’re looking to make a move on the JP Morgan Chase & Co. (NYSE:JPM) shares, make sure you do it at the right price. Timing the market or technical analysis is often a hard task, but do make sure you take into account the historical price data:

Price History
Last Price: 43.71
52 Week Low / High: 35.16 / 48.2
50 Day Moving Average: 41.03
6 Month Price Change %: 12.9%
12 Month Price Change %: 2.5%

We’ll be keeping a close eye on the JP Morgan Chase & Co. (NYSE:JPM) stock price for changes over the next couple of weeks.

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J.P. Morgan Chase & Co. (NYSE:JPM)’s EMC Mortgage Sued

J.P. Morgan Chase & Co. (NYSE:JPM)’s EMC Mortgage has been sued over home loan documents.

J.P. Morgan Chase & Co. (NYSE:JPM)’s EMC Mortgage Sued

The trustee of a mortgage portfolio has sued J.P. Morgan Chase & Co. (NYSE:JPM)’s EMC Mortgage for refusing to turn over documents detailing the quality of loans.

Wells Fargo said in the complaint that, “The trustee has repeatedly requested that EMC provide access to the subject documents. EMC has played proverbial ‘rope a dope’ and otherwise continued to drag its feet, and has produced nothing.”

JP Morgan Chase & Co. (NYSE:JPM) shares were at 44.75 at the end of the last day’s trading. There’s been a 20.9% change in the stock price over the past 3 months.

If you believe this is a good time to make a play on the JP Morgan Chase & Co. (NYSE:JPM) shares, be sure you take a look at this analyst advice, from a broad range of industry specialists:

JP Morgan Chase & Co. (NYSE:JPM) Analyst Advice
Consensus Opinion: Moderate Buy
Mean recommendation: 1.42
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: 1.42
Zack’s Rank: 1 out of 14 in the industry

We will continue checking the JP Morgan Chase & Co. (NYSE:JPM) stock price for developments over the next few weeks.

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J.P. Morgan Chase & Co. (NYSE:JPM) Rights Wrongs

It has been reported that J.P. Morgan Chase & Co. (NYSE:JPM) will refund $2 million to some active-duty service members.

J.P. Morgan Chase & Co. (NYSE:JPM) Rights Wrongs

According to the latest media reports, J.P. Morgan Chase & Co. (NYSE:JPM) will be refunding $2 million to te military members as the bank had charged them high interest rates illegally and foreclosed on 14 of their homes.

The J.P. Morgan Chase & Co. (NYSE:JPM) spokesman Gary Kishner said that the company has resolved 13 of 14 foreclosures.

“We’re very sorry for the mistake” he said.

JP Morgan Chase & Co. (NYSE:JPM) stocks are currently standing at 44.91.

If you’re contemplating investing in JP Morgan Chase & Co. (NYSE:JPM) shares, make sure you do it at the right price. Timing the market or technical analysis might often a hard task, but do take into account the price history:

Price History
Last Price: 44.91
52 Week Low / High: 35.16 / 48.2
50 Day Moving Average: 40.79
6 Month Price Change %: 9.9%
12 Month Price Change %: 0.5%

We will be monitoring the JP Morgan Chase & Co. (NYSE:JPM) share price for developments over the next couple of weeks.

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J.P. Morgan Chase & Co. (NYSE:JPM) Says ‘Stay The Course’

J.P. Morgan Chase & Co. (NYSE:JPM) has anticipated Mid-East double digit growth in 2011.

JP Morgan Chase & Co. (NYSE:JPM) stocks were at 44.91 at the end of the last day’s trading. There’s been a 14.8% movement in the stock price over the past 3 months.

J.P. Morgan Chase & Co. (NYSE:JPM) Says ‘Stay The Course’

The company said in a statement yesterday that it expects a double digit growth in its private banking business in Middle East as the market expansion to these areas is under the top priorities of the firm.

Paolo Moscovici, managing director of the bank’s private banking business in the Middle East, said, “In the Middle East, you need patience and you need perseverance. You need to stay the course.”

If you’re looking to make a move on the JP Morgan Chase & Co. (NYSE:JPM) stocks, make sure you take a look at this analyst advice, from a broad range of industry specialists:

JP Morgan Chase & Co. (NYSE:JPM) Analyst Advice
Consensus Opinion: Moderate Buy
Mean recommendation: 1.42
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: 1.42
Zack’s Rank: 1 out of 14 in the industry

We’ll be keeping a close eye on the JP Morgan Chase & Co. (NYSE:JPM) stock level for developments over the next couple of weeks.

Posted in FinanceComments (0)

Weekly News Roundup: J.P. Morgan Chase & Co. (NYSE:JPM)

Here’s a round-up of JP Morgan Chase & Co. (NYSE:JPM) stock briefings from this week. JP Morgan Chase & Co. (NYSE:JPM) company shares ended the week at 44.91 (as of 1/14/2011).

Weekly News Roundup: J.P. Morgan Chase & Co. (NYSE:JPM)

Monday 10 January

J.P. Morgan Chase & Co. (NYSE:JPM) has said that China is the key in Asia-Pacific platform.
The executives from J.P. Morgan Chase & Co. (NYSE:JPM) said that the latest security venture in the mainland China is the new success key in the region, and its attempts to globalize the US bank.

Zili Shao, chief executive for China J.P. Morgan Chase & Co. (NYSE:JPM), said in an interview that, “Our access in China will help cement our franchise in Hong Kong and globally.”

Wednesday 12 January

J.P. Morgan Chase & Co. (NYSE:JPM) has planned to boost annual dividends in 2011.
The official statement from the company says that it has plans to boost the dividend to $0.75 – $1.00 per share, up substantially from the current $0.20 per share rate.

The dividend boost will only be effective after the approval from the Federal Reserve, completing the stress tests.

Jamie Dimon, the Chief Executive Officer of J.P. Morgan Chase & Co. (NYSE:JPM), said that,”We are going to be building up a lot of excess capital, so we’d like to restart a dividend”.

Thursday 13 January

J.P. Morgan Chase & Co. (NYSE:JPM) has planned to end the diplomats services.

The company has revealed in a statement that it is planning to shut down the division that has been serving Washington and New York-based diplomats and foreign governments by the end of March this year.

J.P. Morgan Chase & Co. (NYSE:JPM) said in the statement that, “We recommend that you open a bank account with another financial institution, and begin using it immediately in order to minimize any disruption.”

Friday 14 January

J.P. Morgan Chase & Co. (NYSE:JPM) has recommended that investors maintain bets on Brent crude oil.
The recommendation was made amidst of the dropped global supply and increased demands from the developed countries.

J.P. Morgan Chase & Co. (NYSE:JPM) said that, “The way things are panning out fits with our broader projections for a global crude-oil market deficit throughout the first quarter. Crude stockpiles in members of the Organization for Economic Co-operation and Development in December “could have had fallen to lows only reached in one period in the past 11 years.”

We will continue checking the JP Morgan Chase & Co. stock price for developments over the next few weeks.

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