Freepoint has agreed to buy the metal concentrates business from J.P. Morgan Chase & Co. (NYSE:JPM).

J.P. Morgan Chase & Co. Sells To Freepoint

Reuters has reported that J.P. Morgan Chase & Co. (NYSE:JPM) is selling its Metal & Concentrates LLC to Freepoint Commodities LLC.

Freepoint has signed a definitive agreement to buy the bank’s physical base metal concentrates and copper cathode trading unit.

This move is being taken by J.P. Morgan Chase & Co. (NYSE:JPM) as the Federal Reserve requires it to sell off parts of its enlarged commodity trading operation that do not meet Fed regulations.

JP Morgan Chase & Co. (NYSE:JPM) shares were at 43.16 at the end of the last day’s trading. There’s been a 14.9% movement in the stock price over the past 3 months.

JP Morgan Chase & Co. (NYSE:JPM) Analyst Advice
Consensus Opinion: Moderate Buy
Mean recommendation: 1.4
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: 1.38
Zack’s Rank: 2 out of 16 in the industry

J.P. Morgan Chase & Co. (NYSE:JPM)’s PH unit has been cited as the top BPO taxpayer.

J.P. Morgan Chase & Co. Sees Big Philippine Tax Bill

J.P. Morgan Chase & Co. (NYSE:JPM), the financial services giant, announced that its Philippine unit was named as the No. 1 taxpayer among business process outsourcing (BPO) providers in the country.

J.P. Morgan Chase & Co. (NYSE:JPM) Bank, N.A.-Philippine Global Service Center paid P139.65 million in taxes on gross sales of P8.75 billion in 2010. Based on the Bureau of Internal Revenue (BIR) list of top corporate taxpayers, it ranked No. 158 overall.

J.P. Morgan Chase & Co. (NYSE:JPM) Philippine Global service center provides back office support to J.P. Morgan Chase & Co. (NYSE:JPM)’s businesses and clients around the world.

JP Morgan Chase & Co. (NYSE:JPM) shares were at 44.84 at the end of the last day’s trading. There’s been a 20.1% movement in the stock price over the past 3 months.

JP Morgan Chase & Co. (NYSE:JPM) Analyst Advice
Consensus Opinion: Moderate Buy
Mean recommendation: 1.4
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: 1.4
Zack’s Rank: 5 out of 16 in the industry

J.P. Morgan Chase & Co. (NYSE:JPM) Securities has opened a new office in Philadelphia.

J.P. Morgan Chase & Co. Opening New Office

J.P. Morgan Chase & Co. (NYSE:JPM) has announced that its financial advisory business, J.P. Morgan Chase & Co. (NYSE:JPM) Securities, has opened an office in Philadelphia.

J.P. Morgan Chase & Co. (NYSE:JPM) Securities intends to deliver a broad range of wealth management capabilities to clients in the Philadelphia area.

Greg Quental, CEO of J.P. Morgan Chase & Co. (NYSE:JPM) Securities, said that, “Philadelphia as a strong market with excellent growth potential. J.P. Morgan Chase & Co. (NYSE:JPM) continue to see exciting momentum in our business. J.P. Morgan Chase & Co. (NYSE:JPM) looks forward to introducing our deep expertise and broad product offering to Philadelphia area clients”.

JP Morgan Chase & Co. (NYSE:JPM) stocks are currently standing at 44.01.

Price History
Last Price: 44.01
52 Week Low / High: 27.85 / 47.37
50 Day Moving Average: 41.2
6 Month Price Change %: 33.0%
12 Month Price Change %: -8.3%

J.P. Morgan Chase & Co. (NYSE:JPM) has appointed a head of UK defined contribution.

J.P. Morgan Chase & Co. Makes UK Executive Change

J.P. Morgan Chase & Co. (NYSE:JPM) has made a new appointment, with Simon Chinnery being appointed as head of UK defined contribution at J.P. Morgan Chase & Co. (NYSE:JPM) Asset Management.

In the new position Mr. Chinnery will be aiming to build J.P. Morgan Chase & Co. (NYSE:JPM) Asset Management’s UK defined contribution business and improve its defined contribution service in the US.

Mike O’Brien , J.P. Morgan Chase & Co. (NYSE:JPM)’s global head of institutional business, said that, “Defined contribution is no longer the elephant in the room but there is still a lot of work that needs to be done to develop the right propositions in this fast-growing and critically strategic market”.

JP Morgan Chase & Co. (NYSE:JPM) stocks are currently standing at 42.96.

Price History
Last Price: 42.96
52 Week Low / High: 27.85 / 47.37
50 Day Moving Average: 41.08
6 Month Price Change %: 35.9%
12 Month Price Change %: -6.3%

J.P. Morgan Chase & Co. (NYSE:JPM) has been sued by Ambac over mortgage losses.

J.P. Morgan Chase & Co. Sued Over Mortgage Issues

Ambac Financial Group Inc has sued J.P. Morgan Chase & Co. (NYSE:JPM) to recover losses on securities it insured that were made by a unit of the former Bear Stearns Cos.

Ambac claims that it incurred more than $200 million worth of claims on seven residential mortgage-backed securities transactions and these securities have lost more than $1.8 billion overall.

Ambac officials said that, “Driven by management’s ‘Bear don’t care’ mentality, Bear Stearns perpetrated a massive fraud that deceived investors and financial guarantors, such as Ambac, into believing that the mortgage loans backing its securitizations were originated pursuant to established underwriting guidelines and were therefore of good quality”.

JP Morgan Chase & Co. (NYSE:JPM) shares were at 46.13 at the end of the last day’s trading. There’s been a 38.3% movement in the stock price over the past 3 months.

JP Morgan Chase & Co. (NYSE:JPM) Analyst Advice
Consensus Opinion: Moderate Buy
Mean recommendation: 1.4
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: 1.38
Zack’s Rank: 1 out of 15 in the industry

J.P. Morgan Chase & Co. (NYSE:JPM) has scheduled expansion plans in Nigeria.

J.P. Morgan Chase & Co. Planning Nigeria Move

J.P. Morgan Chase & Co. (NYSE:JPM) has announced that it has opened a new office in Nigeria, demonstrating its continued commitment to the country’s future growth and economic development.

This move is a part of J.P. Morgan Chase & Co. (NYSE:JPM)’s expansion plans in Nigeria.

J.P. Morgan Chase & Co. (NYSE:JPM) has been providing treasury services, reserve management, and custody services in Nigeria and also acted as an advisor to the central bank, government ministries and supranational.

JP Morgan Chase & Co. (NYSE:JPM) shares are currently standing at 45.98.

Price History
Last Price: 45.98
52 Week Low / High: 27.85 / 47.8
50 Day Moving Average: 40.35
6 Month Price Change %: 52.7%
12 Month Price Change %: -0.3%

J.P. Morgan Chase & Co. (NYSE:JPM) has partnered with United Airlines to launch the United MileagePlus® Club Card.

J.P. Morgan Chase & Co. Makes United Airlines Points Deal

J.P. Morgan Chase & Co. (NYSE:JPM) has announced that its division, Chase Card Services and United Airlines have unveiled the new United MileagePlus® Club Card.

The card includes full United Club membership, Premier AccessSM travel services, a 50 percent mileage bonus on purchases and more.

United MileagePlus Club Card offers 100 percent more when purchasing United tickets (2 miles/$1 of spend) and 50 percent more on everything else (1.5 miles/$1 of spend).

David Gold, general manager, J.P. Morgan Chase & Co. (NYSE:JPM) Card Services, said that, “Our best customers place tremendous value on premium travel benefits. The United MileagePlus Club Card is the only card to offer unparalleled privileges including membership to the United Club, Premier Access, the first two checked bags free and no foreign transaction fees. The benefits continue outside the airport, where cardmembers have access to a variety of unique, exclusive events and complimentary services”.

JP Morgan Chase & Co. (NYSE:JPM) shares were at 45.89 at the end of the last day’s trading. There’s been a 37.5% change in the stock price over the past 3 months.

JP Morgan Chase & Co. (NYSE:JPM) Analyst Advice
Consensus Opinion: Moderate Buy
Mean recommendation: 1.4
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: 1.38
Zack’s Rank: 2 out of 15 in the industry

J.P. Morgan Chase & Co. (NYSE:JPM) has boosted its Nigerian office presence.

J.P. Morgan Chase & Co. Investing In Nigeria

It has been reported that J.P. Morgan Chase & Co. (NYSE:JPM) is boosting its presence in Nigeria.

As part of the move J.P. Morgan Chase & Co. (NYSE:JPM) will increase the size of its office in Nigeria to more than 10 from fewer than five.

Tosin Adewuyi, J.P. Morgan’s senior country officer for Nigeria, said that, “Nigeria is one of the fastest-growing economies in the world, and it is transitioning to a more diversified economy. Nigeria is going to be Africa’s growth story for the next 15 to 20 years”.

JP Morgan Chase & Co. (NYSE:JPM) shares are currently standing at 44.65.

Price History
Last Price: 44.65
52 Week Low / High: 27.85 / 47.8
50 Day Moving Average: 39.03
6 Month Price Change %: 48.7%
12 Month Price Change %: -0.8%