JPMorgan said Wednesday that first-quarter profit fell because of increased costs tied to bad loans and market upheaval caused by the Ukraine war.
Archiv für den Monat: April 2022
Stocks rise as earnings reporting season kicks off
Investors shook off more surging inflation numbers, and lackluster quarterly earnings data from JPMorgan.
Stocks making the biggest moves midday: Chipotle, PG&E, Marathon Oil and CarMax
These are the stocks posting the largest moves in midday trading.
Concerned about inflation? Here’s why stock investors should stay the course, says Ritholtz COO
Nick Maggiulli, chief operating officer at Ritholtz Wealth Management, believes investors would be better off by continually investing over time.
Bed Bath & Beyond posts disappointing results after low inventory hurt business in the holiday quarter
Bed Bath & Beyond is in the middle of a turnaround effort and has been under pressure from an activist investor.
Delta forecasts a quarterly profit as travelers keep flying despite higher fares, helping offset surging fuel costs
Delta said it expects a pretax profit in the second quarter and that it will restore capacity to 84% of 2019 levels.
JPMorgan Chase reports $524 million hit from market dislocations caused by Russia sanctions
JPMorgan said Wednesday that first-quarter profit fell because of increased costs tied to bad loans and market upheaval caused by the Ukraine war.
China president Xi says no to relaxation of COVID-19 measures
China must continue strict „dynamic COVID-19 clearance“ policyMust not relax control and prevention measuresShould minimise COVID-19 impact on economic and social developmentThat won’t soothe much of the situation in Shanghai as the pressure continues in the key city, marking China’s largest outbreak since the start of the pandemic. For some context, Shanghai reported more than 25,000 cases once again in its latest update.
US MBA mortgage applications w.e. 8 April -1.3% vs -6.3% prior
Prior -6.3%Market index 393.5 vs 398.5 priorPurchase index 261.8 vs 258.1 priorRefinancing index 1.109.0 vs 1,166.3 prior30-year mortgage rate 5.13% vs 4.90% priorThe average home loan rate in the US tops 5% for the first time since November 2018 as the latest survey notes that homebuyers are hurrying to make purchases before costs rise further. That said, the run up in costs has largely dampened sentiment in mortgage applications with overall activity slowing once again (the rise in purchases were offset by the drop in refinancing activity).
JP Morgan sees profit drop on dealmaking slowdown
EPS $2.63 vs $2.69 expectedRevenue $31.59 billion vs $31.44 billion expectedEquities sales and trading revenue $3.06 billion vs $2.56 billion expectedFICC sales and trading revenue $5.70 billion vs $4.68 billion expectedFor the quarter, the firm posted a profit of $8.28 billion as compared to $14.3 billion a year earlier. Among the reasons cited were a slowdown in dealmaking brought on by the Russia-Ukraine conflict as well as a decline in trading revenue.But at least the firm is authorising a new share buyback plan of $30 billion. It looks like things are starting to get back to ’normal‘. 😉