|Bid||112.11 x 1000|
|Ask||112.80 x 1100|
|Day's range||111.92 - 112.54|
|52-week range||81.64 - 119.33|
|PE ratio (TTM)||17.77|
|Earnings date||13 Jul 2018|
|Forward dividend & yield||2.24 (2.04%)|
|1y target est||122.00|
Seven years ago, two middlemen launched civil lawsuits to seek payment for helping arrange a $1.3 billion oil deal in Nigeria. Now (Frankfurt: 11N.F - news) , nine current and former executives or contractors from Italy's Eni and British-Dutch giant Royal Dutch Shell (LSE: 0LN9.L - news) , including ENI Chief Executive Claudio Descalzi, have been accused by Italian prosecutors of paying bribes to secure the licence to explore a large offshore oilfield in 2011. All deny wrongdoing, as do Shell and Eni.
Seven years ago, two middlemen launched civil lawsuits to seek payment for helping arrange a $1.3 billion (965.04 million pounds) oil deal in Nigeria. Now, nine current and former executives or contractors from Italy's Eni(ENI.MI) and British-Dutch giant Royal Dutch Shell (RDSa.L), including ENI Chief Executive Claudio Descalzi, have been accused by Italian prosecutors of paying bribes to secure the licence to explore a large offshore oilfield in 2011. All deny wrongdoing, as do Shell and Eni.
ZURICH/MOSCOW (Reuters) - Sanctions-hit Russian oligarch Viktor Vekselberg and his Renova Group have repaid loans amounting to over one billion Swiss francs ($1 billion) to banks including JPMorgan (JPM.N), Credit Suisse (CSGN.S) and UBS (UBSG.S), Renova and a source familiar with the matter told Reuters on Saturday. Vekselberg was placed under sanctions in a crackdown by the United States on President Vladimir Putin's inner circle as retaliation for alleged Russian interference in the 2016 U.S. election.
Investors' concerns related to some industry uncertainties, including easing of regulations, pulls banking stocks down.
Former head of J.P. Morgan's blockchain arm says major banks like her former employer could get into the cryptocurrency business "sooner than people think."
Todd Combs, an investment officer at Berkshire Hathaway (BRKB) and a director of JPMorgan Chase (JPM), bought $1.5 million of the bank's shares on May 14 for his personal account. He bought 13,300 JPMorgan ...
In order to increase access to alternative investments to a broader client base, JPMorgan (JPM) agrees to use the technology of iCapital.
PayPal (PYPL) is a critical source of credit for American businesses left behind by folding banks. PayPal’s CEO, Dan Schulman, disclosed during a recent interview that 25% of the company’s working capital loans are to small businesses in US counties where at least ten banks have closed their branches. The strong demand for PayPal loans in counties that have been hit hard by the outflow of traditional lenders shows that PayPal is providing a credit lifeline for American small businesses.
Bitcoin on Thursday drifted lower, with investors contending with an unexpected lull following the conclusion of the popular multiday Consensus conference. “It’s still looking a bit soft and vulnerable,” said Craig Erlam, senior market analyst at Oanda. Erlam added that he doesn’t expect the bottom to fall out of bitcoin.
Jamie Dimon, the chief executive of JPMorgan Chase & Co.(JPM) has continually poured cold water on the No. 1 digital currency, calling it a terrible store of value, a bubble and a fraud. The Financial News reported Thursday that JPMorgan had made a personnel shift, and Oliver Harris will move into a role that will examine the use of digital currencies for the bank.
JPMorgan Chase & Co. announced today the quarterly coupon amount for the Alerian MLP Index ETN . The table below summarizes the coupon amount for the Alerian MLP Index ETN .
JPMorgan is slashing requirements to participate in certain alternative investments that its asset management arm once offered mainly to institutions or the ultra rich. Bloomberg’s Michael Moore reports ...
Remington, America's oldest gunmaker, filed for bankruptcy protection in March, weeks after a shooting at a high school in Parkland, Florida killed 17 people and triggered intensified campaigns for gun control by activists. Under the reorganization plan, inked two days before the Feb. 14 Parkland shooting, creditors including JPMorgan Chase & Co (JPM.N) and Franklin Advisors will take ownership stakes in the company in exchange for forgiving more than $775 million (£573.3 million) of debt.
Sign up here for The Morning Download, and get the most important news in business technology emailed to you each weekday morning. Subscribe to WSJ Pro Cybersecurity for in-depth coverage on cybersecurity trends, breaches and best practices. demonstrated a prototype of its blockchain-based platform for capital markets, called Dromaius, on Wednesday at the Consensus 2018 conference, CIO Journal's Sara Castellanos reports.
Bankers (XLF) have improved their payout ratio in the recent quarters helped by improved operating performance and the passing of stress tests. The dividend yields have risen to ~2.0% to 3.0%, whereas repurchases have risen at a relatively fast pace. Buybacks have helped bankers in expanding return on equity (or RoE) amid subdued credit offtake.
The Amazon, Berkshire and J.P. Morgan partnership to find grand health-care solutions remains leaderless.
Analysts have a consensus target price for 3M of $213.8, implying a potential return of 5.9% over the closing price of $202.41 as of May 15. After its 1Q18 earnings, the target price for 3M has fallen 10%, indicating that analysts have a conservative view on the stock.
Institutional investors shed shares of Bank of America Corp, Citigroup Inc. and JPMorgan Chase & Co. last quarter just as the S&P 500 Index declined amid questions about the health of the Trump trade and the longevity of the bull market. An analysis of 13F filings for the quarter ended March 31 showed institutions have continued to shift away from Bank of America, Citigroup and JPMorgan. Among Bank of America’s hedge fund holders, Citadel Advisors and Coatue Management topped the list of sales, cutting their positions by 23.7 million and 13.9 million shares respectively.
Valuations for banks have improved in recent quarters due to improvement in earnings from core banking, trading, and the asset management businesses. Citigroup (C) has received strong ratings in May 2018. Of the 29 analysts covering the bank, 17 have given the bank “strong buy” or “buy” ratings, ten analysts have given the stock “hold” ratings, and two analysts are recommending an “underperform” or “sell.” The bank has a one-year forward price target of $83.91 with an upside of 15.2% based on its current price.
The Federal Reserve has indicated we could see two more rate hikes in 2018 after a 25-basis-point hike in the Fed funds rate in March 2018 to 1.8%. Rate hikes have helped banks (XLF) with higher net interest margins (or NIMs). However, the yield curve has flattened in recent months, suggesting we won’t see a major expansion in spreads going forward. Thus, rate hikes from here on will impact credit offtake as corporates could look to reduce leverage amid lower taxes and improving cash flows.