(AP:NEW YORK) JPMorgan Chase says its income fell 23 percent in the fourth quarter of 2011 after the bank set aside a large sum for litigation reserves and its investment banking income declined.
The largest bank in the nation said Friday it earned $3.7 billion, or 90 cents per share. The results fell short of the 93 cents per share estimated by analysts surveyed by FactSet.
The New York bank set aside $528 million for additional litigation charges related to poorly-written mortgages, while an accounting charge led to a $567 million loss. However, as more credit card customers paid on time, the bank was able to take out $730 million from its loan reserves set aside for credit card defaults.
JPMorgan's stock fell 2.3 percent to $36.01 in pre-market trading.
Hello fellow traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Thursday, the 12th of January.
If the news from Europe is so good today, why is gold moving higher?
We will show you how our Trade Triangles are viewing this market.
3 Stocks ...
Wynn Resorts Ltd (WYNN), Sears Holding Corp (SHLD) and Continue reading "Gold and the Euro are in the spotlight, plus this special stock just flashed on our radar screen..."
If you follow our blog, then you are definitely familiar with trader Larry Levin, President of Trading Advantage LLC. We have gotten such a great response from some of his past posts that he has agreed to share one more of his favorite trading tips as a special treat to our viewers. Determining the direction of the market can be tricky and just plain confusing at times, but Larry’s expert opinion keeps it simple. If you like this article, Larry’s also agreed to give you free access to his Double Stop trading technique.
On a candlestick chart, there is a pattern that technicians refer to as a doji. A doji has top and bottom shadows like a regular candlestick, but has practically no real body. This happens when the opening and closing price are the same, or so close that they just leave a sliver of a real body. A doji looks like a plus sign or cross. Continue reading "Candlesticks - Using the Doji"
Updated with today's video.
Hello fellow traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Wednesday, the 11th of January.
Chinese stocks... are they poised for profits or will they be poison for your portfolio?
We look at how our Trade Triangles view these three Chinese stocks and share with you how we see them trading.
3 Stocks on the move
First Solar Inc. (FSLR), Urban Outfitters Inc. (URBN), and Continue reading "China, Europe, and the USA… where to put your money right now"
We are looking for great questions for Adam and Jeremy to answer on MarketClub TV tomorrow night at 5PM EST.
Are you wondering where the markets are heading? Or do you have a Stock that you would like us to analyze?
Email your questions to email@example.com
We'd love to answer them during the show.
The MarketClub Team