JPMorgan (JPM) Lowers Loss Expectations Tied to Federal Probes

JPMorgan (NYSE: JPM) is positive in early trading Friday as the company improved expected costs tied to recent federal investigations. According to a 10-Q filed Friday morning, JPMorgan now sees reasonably possible losses of zero to $5.7 billion as of the quarter ending September 30, 2013. Prior expectations called for expected losses up to $6.8 billion for the quarter ending June 30, 2013. JPMorgan also reported no loss days for the nine-month period ended September 30th, 2013, and 194 market risk-related gains days over the same period. Of course, negotiations between the U.S. Department of Justice and JPMorgan are still ongoing over an FDIC settlement. Some recent speculation pegs a new settlement price around $13 billion. Ahead of the bell, JPMorgan is up about 0.2 percent.

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