JPMorgan's (JPM) Dimon: London Whale Trade Could Lose More Money, Buyback to Start in Q113
Tweet Send to a FriendGet Alerts JPM Hot Sheet
Trade JPM Now!
JPMorgan (NYSE: JPM) CEO Jamie Dimon is speaking at a Barclays Conference today.
In general, Dimon said the London whale trade could lose more money this year, something many investors have been expecting. No specifics on the amount were given by Dimon. The problem, though, is mostly fixed.
Dimon also noted that it is "always possible" to break-up JPMorgan, if needed, though the process would take a couple of years.
On bank's buyback plans, Dimon said that initiative would start sometime in the first-quarter of 2013.
Shares of JPMorgan are ticking slightly higher on the comments, up 1.6 percent on the session.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
In general, Dimon said the London whale trade could lose more money this year, something many investors have been expecting. No specifics on the amount were given by Dimon. The problem, though, is mostly fixed.
Dimon also noted that it is "always possible" to break-up JPMorgan, if needed, though the process would take a couple of years.
On bank's buyback plans, Dimon said that initiative would start sometime in the first-quarter of 2013.
Shares of JPMorgan are ticking slightly higher on the comments, up 1.6 percent on the session.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- JPMorgan (JPM) Shareholders Support Dimon in Dual Role
- UPDATE: Fannie Mae, Freddie Mac Surge as Seriously Delinquent Rate Falls Below 3%
- Chase Enhances the United MileagePlus Explorer Card with No Foreign Transaction Fees
Create E-mail Alert Related Categories
Guidance, Stock Buybacks, Trader TalkRelated Entities
JPMorgan, Barclays, Jamie Dimon
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
