News Topic - J.P. Morgan Chase
Articles 11 - 18 of most recent articles
Home equity improving, prime mortgage "terrible": Morgan
NEW YORK (MarketWatch) -- J.P. Morgan Chase CEO Jamie Dimon said on a Thursday conference call with analysts that the firm is seeing some improvement in the credit quality of its home equity loan portfolio, but cautioned that as defaults grow in Florida and California, its losses on its prime mortgage portfolio "could triple" in the next year. On the same call, Morgan's CFO, Mike Cavanaugh, told listeners that home equity losses were coming in at about $700 million, rather than an expected $900 million. "A lot of people could argue there's some seasonality in that. It's a little Ray of sunshine which it's okay to grab onto for now," Dimon said. However, Dimon quickly dampened the enthusiasm that sparked among listeners, as he said that losses on prime mortgages could triple, as homeowners increasingly default on loans in California and Florida. "Prime looks terrible," Dimon said.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – Jul 17, 2008 12:55 PM [GMT] ¦ comment?
found in Business: Markets
NEW YORK (MarketWatch) -- J.P. Morgan Chase CEO Jamie Dimon said on a Thursday conference call with analysts that the firm is seeing some improvement in the credit quality of its home equity loan portfolio, but cautioned that as defaults grow in Florida and California, its losses on its prime mortgage portfolio "could triple" in the next year. On the same call, Morgan's CFO, Mike Cavanaugh, told listeners that home equity losses were coming in at about $700 million, rather than an expected $900 million. "A lot of people could argue there's some seasonality in that. It's a little Ray of sunshine which it's okay to grab onto for now," Dimon said. However, Dimon quickly dampened the enthusiasm that sparked among listeners, as he said that losses on prime mortgages could triple, as homeowners increasingly default on loans in California and Florida. "Prime looks terrible," Dimon said.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – Jul 17, 2008 12:55 PM [GMT] ¦ comment?
found in Business: Markets
Treasurys remain lower after jobless claims, housing data
NEW YORK (MarketWatch) - Treasurys stayed negative early Thursday, pushing yields up, after economic reports showed initial claims for jobless benefits increased last week and housing starts jumped due to a change in how the government collects data. Two-year note yields rose 6 basis points to 2.49%. The Labor Department said unemployment claims rose 18,000 to 366,000 in the week ended July 12. Separately, the Commerce Department said home construction starts rose 9.1% in June. Economists surveyed by MarketWatch expected the pace to decline 2% to 959,000 homes. New construction of single-family homes fell 5.3%. Treasurys were under pressure earlier as U.S. equity futures pointed higher after J.P. Morgan Chase and Coca-Cola Co. announced better-than-expected earnings.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – Jul 17, 2008 12:43 PM [GMT] ¦ comment?
found in Business: Markets
NEW YORK (MarketWatch) - Treasurys stayed negative early Thursday, pushing yields up, after economic reports showed initial claims for jobless benefits increased last week and housing starts jumped due to a change in how the government collects data. Two-year note yields rose 6 basis points to 2.49%. The Labor Department said unemployment claims rose 18,000 to 366,000 in the week ended July 12. Separately, the Commerce Department said home construction starts rose 9.1% in June. Economists surveyed by MarketWatch expected the pace to decline 2% to 959,000 homes. New construction of single-family homes fell 5.3%. Treasurys were under pressure earlier as U.S. equity futures pointed higher after J.P. Morgan Chase and Coca-Cola Co. announced better-than-expected earnings.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – Jul 17, 2008 12:43 PM [GMT] ¦ comment?
found in Business: Markets
Before the Bell: EBay, Coca-Cola, J.P. Morgan in focus
Better-than-expected earnings from financial services heavyweight J.P. Morgan Chase eased worries about the troubled financial sector and boosted stock index futures Thursday, pointing to a higher open for Wall Street.
MarketWatch.com – Jul 17, 2008 12:40 PM [GMT] ¦ comment?
found in Business
Better-than-expected earnings from financial services heavyweight J.P. Morgan Chase eased worries about the troubled financial sector and boosted stock index futures Thursday, pointing to a higher open for Wall Street.
MarketWatch.com – Jul 17, 2008 12:40 PM [GMT] ¦ comment?
found in Business
J.P. Morgan's Net Income Slides
J.P. Morgan Chase posted a 53% decline in second-quarter net income as credit-loss provisions more than doubled and its investment bank cut the value of leveraged-loan and mortgage-related securities by a further $1.1 billion.
Wall Street Journal – Jul 17, 2008 11:59 AM [GMT] ¦ comment?
found in Business: Markets
J.P. Morgan Chase posted a 53% decline in second-quarter net income as credit-loss provisions more than doubled and its investment bank cut the value of leveraged-loan and mortgage-related securities by a further $1.1 billion.
Wall Street Journal – Jul 17, 2008 11:59 AM [GMT] ¦ comment?
found in Business: Markets
J.P. Morgan Chase's quarterly profit falls 53% but tops target
Major U.S. bank J.P. Morgan Chase reports second-quarter net income down 53% from a year ago as revenue recedes, but the results nevertheless surpass Wall Street estimates.
MarketWatch.com – Jul 17, 2008 11:28 AM [GMT] ¦ comment?
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Major U.S. bank J.P. Morgan Chase reports second-quarter net income down 53% from a year ago as revenue recedes, but the results nevertheless surpass Wall Street estimates.
MarketWatch.com – Jul 17, 2008 11:28 AM [GMT] ¦ comment?
found in Business
Countrywide cut from Fed's primary dealers
NEW YORK (MarketWatch) - Countrywide Securities Corp. has officially been removed from the ranks of the Federal Reserve Bank of New York's list of primary U.S. government Securities dealers, the Fed said in a statement today. The firm was removed as a result of its acquisition by Bank of America earlier this year, leaving a total of 19 primary dealers. Bear Stearns Cos. remains on the list, though it is expected to be dropped soon due to the merger with J.P. Morgan Chase Co. . Both Bank of America and J.P. Morgan have securities arms that are also dealers.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – Jul 15, 2008 5:37 PM [GMT] ¦ comment?
found in Business: Markets
NEW YORK (MarketWatch) - Countrywide Securities Corp. has officially been removed from the ranks of the Federal Reserve Bank of New York's list of primary U.S. government Securities dealers, the Fed said in a statement today. The firm was removed as a result of its acquisition by Bank of America earlier this year, leaving a total of 19 primary dealers. Bear Stearns Cos. remains on the list, though it is expected to be dropped soon due to the merger with J.P. Morgan Chase Co. . Both Bank of America and J.P. Morgan have securities arms that are also dealers.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – Jul 15, 2008 5:37 PM [GMT] ¦ comment?
found in Business: Markets
Morgan CEO Dimon cautions on regulations
NEW YORK (MarketWatch) -- J.P. Morgan Chase & Co. CEO Jamie Dimon said Tuesday that while he believes new regulations, and the equal application of existing rules, are necessary, but he cautioned legislators and regulators about the "unintended consequences" of additional oversight. Speaking to a conference sponsored by the U.S. FDIC, Dimon also said he would like to see the "equal application" of capital requirements for commercial banks and investment banks. Speaking broadly about the recent credit crisis and the future for the U.S. economy, Dimon said he believed that the speculators are not responsible for the recent explosion in crude oil prices. And, he concluded that had Bear Stearns, which J.P. Morgan recently bought with Federal Reserve backing, been allowed to go bankrupt, it could have been a "catastrophe" for the U.S.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – Jul 8, 2008 5:20 PM [GMT] ¦ comment?
found in Business: Markets
NEW YORK (MarketWatch) -- J.P. Morgan Chase & Co. CEO Jamie Dimon said Tuesday that while he believes new regulations, and the equal application of existing rules, are necessary, but he cautioned legislators and regulators about the "unintended consequences" of additional oversight. Speaking to a conference sponsored by the U.S. FDIC, Dimon also said he would like to see the "equal application" of capital requirements for commercial banks and investment banks. Speaking broadly about the recent credit crisis and the future for the U.S. economy, Dimon said he believed that the speculators are not responsible for the recent explosion in crude oil prices. And, he concluded that had Bear Stearns, which J.P. Morgan recently bought with Federal Reserve backing, been allowed to go bankrupt, it could have been a "catastrophe" for the U.S.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – Jul 8, 2008 5:20 PM [GMT] ¦ comment?
found in Business: Markets
The Home-Equity Door Slams Shut
Some 122,000 borrowers with Countrywide home-equity lines of credit, or HELOCs, received letters in January informing them that they could no longer withdraw funds from their lines. A few months later, thousands of customers of other major lenders -- including Bank of America, J.P. Morgan Chase,...
Washington Post – Jul 6, 2008 04:00 AM [GMT] ¦ comment?
found in Business: Personal Finance
Some 122,000 borrowers with Countrywide home-equity lines of credit, or HELOCs, received letters in January informing them that they could no longer withdraw funds from their lines. A few months later, thousands of customers of other major lenders -- including Bank of America, J.P. Morgan Chase,...
Washington Post – Jul 6, 2008 04:00 AM [GMT] ¦ comment?
found in Business: Personal Finance