FBN's Gasparino Sees JPMorgan's (JPM) CIO Loss at 'Low End' of $4-$5B Range

July 12, 2012 5:44 PM EDT Send to a Friend
Investors and analysts are bracing themselves ahead of JPMorgan's (NYSE: JPM) second-quarter results Friday morning, a report which will include more details into the bank's highly-criticized CIO loss. Deutsche Bank is expecting a loss for the unit of about $4 billion and Wells Fargo is looking for the loss to be around $5 billion. FOX Business Network's (FBN) Charlie Gasparino is the latest to weigh in.

Gasparino, citing recent "trading desk chatter," believes JPMorgan's loss will be near the low end of this $4-$5 billion range. Gasparino said the loss will likely be not as bad as feared due to "muni bonds in that portfolio that they were able to sell at a premium."

Shares of JPMorgan closed down 1.6 percent to $34.04 Thursday, and are getting a slight boost in the after-hours session. The stock is now trading around $34.21.

Stay tuned to StreetInsider's Earnings category to get a breakdown of the results within seconds of the bank's press release.


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