JPMorgan (JPM) Declares $0.90 Quarterly Dividend; 3.6% Yield

JPMorgan sends some traders home after worker contracts COVID-19: Bloomberg News

September 15, 2020 2:11 PM EDT

(Reuters) - JPMorgan Chase & Co (NYSE: JPM) sent some of its Manhattan workers home this week after an employee in equities trading tested positive for COVID-19, Bloomberg News reported on Tuesday, citing a person familiar with the matter.

News of the infection, on the fifth floor of the bank's 383 Madison Ave. building, was communicated to employees on Sept. 13, according to the report... More

JPMorgan's (JPM) Dimon Sees Future Serious Issues in Govt. Deficits, Policy - Bloomberg

September 15, 2020 9:11 AM EDT

JPMorgan's (NYSE: JPM) Dimon Sees Future Serious Issues in Govt. Deficits, Policy - Bloomberg

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JPMorgan and BlackRock tap AI startup to automate opening custody accounts

September 15, 2020 8:07 AM EDT

By Anna Irrera

LONDON (Reuters) - JPMorgan Chase & Co (NYSE: JPM) and BlackRock Inc (NYSE: BLK) have teamed up with artificial intelligence (AI) technology startup Saphyre to automate the opening of custody accounts, the companies said on Tuesday.

The system, which uses AI to remember when an asset manager has already uploaded a specific document needed to open a custody account, has been... More

S&P 500 ends higher on growing hopes Fed will stay accommodative

September 15, 2020 6:38 AM EDT

By Caroline Valetkevitch

(Reuters) - U.S. stocks rose on Tuesday as investors hoped the Federal Reserve would stick with its supportive policy stance as the central bank's two-day meeting got under way.

But the market was off its session highs as Apple Inc's shares (NASDAQ: AAPL) erased most of their gains from early in the day. The stock ended flat after briefly turning lower in the wake of its product event, which included the rollout of a new virtual fitness service and a bundle of all its subscriptions, Apple... More

JPMorgan's Dimon says economic recovery could be derailed: report

September 14, 2020 3:06 PM EDT

NEW YORK (Reuters) - JPMorgan Chase & Co (NYSE: JPM) Chief Executive Jamie Dimon said the economic recovery from the coronavirus recession could be derailed by a lack of additional economic stimulus, the election and a second wave of infections.

Dimon made the comments on Friday to stock... More

Call Buying Activity in JPMorgan (JPM) Targets 84% Upside in Shares Through September 2021 -Susquehanna

September 14, 2020 1:57 PM EDT

Suquehanna options strategist Alison Edwards notes call buying activity in JPMorgan (NYSE: JPM), as an opening investor bought 5k Sep2021 190 Calls for $0.67, getting exposure to an ~84% rally a year from now.

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Odeon Capital bank analyst Dick Bove says 'Buy Bank Stocks'

September 14, 2020 1:55 PM EDT

Odeon Capital bank analyst Dick Bove says 'Buy Bank Stocks.

The analyst commented, "Bank stock prices are reflecting huge loan losses that are unlikely to develop. Earnings will not be strong near term but they will grow in 2021. These stocks do not represent that growth nor do they... More

Wall Street fundraisers turn into wallflowers during 2020 U.S. election

September 14, 2020 7:12 AM EDT

By Svea Herbst-Bayliss

BOSTON (Reuters) - Early this year, a prominent billionaire tried several times to organize a fundraiser for presidential candidate Pete Buttigieg, a moderate who gained favor among Wall Street Democrats.

No one responded to the outreach, and the fundraiser never happened, two people familiar with the matter said.

That was just one sign that Wall Street has become a detour on the road to the White House, more than a dozen hedge fund managers, bankers and political analysts told Reuters.

Wealthy bigwigs who were once super-fundraisers now find themselves largely sidelined ahead of the Nov. 3... More

Global banks left on the sidelines in Brazil's IPO boom

September 14, 2020 6:08 AM EDT

By Carolina Mandl

SAO PAULO (Reuters) - The days of marquee global investment banks being shoo-ins for stock market listings could be coming to an end, in Brazil at least.

The Brazilian market for initial public offerings is booming this year despite the pandemic. Yet among the five banks leading managers' rankings in terms of deal volumes, four are domestic, according to Refinitiv data: Itau Unibanco Holding SA , Banco Bradesco SA , XP Inc (NASDAQ: XP) and Banco BTG Pactual SA .

The other is Bank of America... More

Trial of former JPMorgan banker begins in Hong Kong with plea of not guilty

September 14, 2020 4:07 AM EDT

By Sharon Tam and Alun John

HONG KONG (Reuters) - JPMorgan (NYSE: JPM) did not carry out key checks when employing the son of a potential client, a prosecutor told a Hong Kong court on Monday, the first day of a bribery trial of the bank's former Asia investment banking vice-chairwoman, Catherine Leung.

Leung, who repeated a not guilty plea on Monday, is charged with bribing the then chairman of Kerry Logistics Network Ltd , Ang Keng-lam, by employing his son at the U.S. investment bank's Hong Kong office in 2010.

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Citigroup's next CEO has Herculean task: turning the bank around for real

September 11, 2020 7:07 AM EDT

By Imani Moise and Svea Herbst-Bayliss

NEW YORK (Reuters) - When Jane Fraser takes the helm of Citigroup Inc (NYSE: C) in February, she will have some big tasks ahead of her.

Citigroup, the third-largest U.S. lender, has struggled for years to convince Wall Street that management's vision of a global bank with a hodgepodge of profitable, if unrelated, businesses will work.

Profit targets set years ago by CEO Mike Corbat proved hard to reach even after revisions and major cost cuts. And although Citigroup is a much... More