January 15, 2009 at 08:45 AM EST
Two Ways To Play: Bumpy Ride for JPMorgan
 JPMorgan in Focus This morning Wall Street is digesting the earnings announcement from JPMorgan Chase (JPM). According to Bloomberg the second-largest bank in the US reported fourth quarter profits of $702 million or 7 cents a share beating analysts’ estimates of $0.00 per share. Revenues fell 0.9% year-over-year to $17.23 bln vs. $18.83 bln consensus.The company blamed the disappointing results on declines in the investment banking business as markdowns on leveraged loans and mortgage trading continued. JPM is also forecasting higher credit costs in the future but does see underlying growth in many business areas. Shares are currently up ...
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