JPMorgan: How Did The Company Loss $2 Billion?

Is JPMorgan Chase & Co. (NYSE:JPM) too big to fail? Not quite so; a surprise announcement reveals that the big wig is barely breaking even since the outset of April. It is in fact submerged in losses as it recorded a loss of about $2 billion. Losing $2 billion [...]

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Friday Post Market News: JPM and CHK Compete for Losses’ Crown

Every afternoon ValueWalk provides an update on global market levels, economic news, and hedge fund news. Post Market Update Market Levels US:  Dow: 12820.60 (-0.27%), S&P 500: 1353.39 (-0.34%), NASDAQ: 2933.82 (0.01%) Europe: CAC: 3129.77 (-0.01%), DAX: 6579.93 (0.94%), FTSE: 5575.52 (0.57%). Asia-Pacific: Australia: 4285.10 (-0.24%), China: 2394.98 (-0.64%), Hong Kong: 19964.63 (-1.32%), India: [...]

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AT&T To Buy Leap Wireless?

Reuters reported yesterday that AT&T Inc. (NYSE:AT&T) are in talks with Leap Wireless International (NASDAQ:LEAP) with a possible acquisition of the smaller communications company on the cards. The report confirmed that the two companies were in talks but there is no certainty about whether or not those talks are continuing. The [...]

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Former Goldman Star Sees Hedge Fund Miss the Mark in Q1

Former Goldman Sachs Group, Inc. (NYSE:GS) Pierre-Henri Flamand hasn't found much luck in his latest venture as a hedge fund manager. In his first quarter investor letter, he described it as a "frustrating" period, missing out on market rallies. Flamand, who founded the $1.8 billion Edoma fund, saw a 0.85 [...]

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Diageo, IBM Led Weekly Corporate Bond Sales

This week, distilling giant Diageo plc (LON:DGE) and International Business Machines Corp. (NYSE:IBM) led in U.S. corporate bond sales at $27.6 billion. From a three-part offering, Diageo, the Johnnie Walker Scotch whisky and Guinness beer seller, raised $2.5 billion while IBM sold $1.5 billion in debt; this included seven-year notes with [...]

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Express Scripts (ERSX) Increases Sales, Shipments in Q1

Express Scripts Holding Company (NASDAQ:ESRX), the largest pharmacy benefit manager in the United States, is up in early trading despite missing the consensus estimate for first quarter earnings due to increased prescription volume and much higher revenue than expected. Revenue for the first quarter of 2012 increased 9.4 percent [...]

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JPMorgan Stock Fall After Firm's $2 Billion Trading Loss

JPMorgan Chase & Co. (NYSE:JPM)'s stock is in decline Friday morning after the firm indicated that it had lost $2 billion on trading in synthetic credit securities. Jamie Dion, CEO of JPMorgan Chase & Co. (NYSE:JPM), indicated that the securities involved in the trading loss remain highly volatile and [...]

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JPMorgan Stock Fall After Firm’s $2 Billion Trading Loss

JPMorgan Chase & Co. (NYSE:JPM)'s stock is in decline Friday morning after the firm indicated that it had lost $2 billion on trading in synthetic credit securities. Jamie Dion, CEO of JPMorgan Chase & Co. (NYSE:JPM), indicated that the securities involved in the trading loss remain highly volatile and [...]

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Bank Shares Down after JPMorgan Reported 2B Loss

As expected, shares of banks in the US dove Friday after JPMorgan Chase & Co. (NYSE:JPM) reported a $2 billion trading loss which may give way for regulation on these institutions.  The reason why this is a huge deal besides losing $2 billion is that JPMorgan Chase & Co. [...]

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Chesapeake CEO Receives New Performance-Based Pay

After cutting Chesapeake Energy Corporation (NYSE:CHK) CEO Aubrey McClendon’s 2011 pay by 15%, the energy firm said they will not offer performance-based awards in 2012.  This comes after the highest holding shareholders voted against the executive’s proposed compensation saying that he was being paid too much. In 2011, McClendon earned $17.9 million [...]

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Friday Morning Market, Company And Economic News Update

Market Levels     US:  Dow Futures: 12763.00 (-0.55%), S&P 500 Futures: 1347.20 (-0.77%), NASDAQ Futures: 2603.00 (-0.60%) Europe: CAC: 3080.76 (-1.60%), DAX: 6470.37 (-0.74%), FTSE: 5506.77 (-0.68%). Asia-Pacific: Australia: 4285.10 (-0.24%), China: 2394.98 (-0.64%), Hong Kong: 19964.63 (-1.32%), India: 4928.90 (-0.74%), Japan: 8953.31 (-0.63%). Metals: Gold: 1583.10 (-0.78%), Silver: 28.60 (-1.96%), Copper: [...]

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European Reactions To Obama's Criticism

The American criticism of Europe’s lack of stimulus packages to the economy is receiving anything but understanding in Europe. Angela Merkel quoted in Frankfurter Allgemeine Zeitung: A borrowed growth would bring us right back to the start of the crisis. Krugman’s recommendations invoke a scathing remark from blogger Uffe Ellemann-Jensen (former Danish [...]

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JPM's Jamie Dimon 'Someone Screwed Up and Lost $2B' Interview

  JPMORGAN CEO JAMIE DIMON TELLS FOX BUSINESS “THIS IS A MANAGEMENT ISSUE. SOMEONE SCREWED UP AND THEY ARE NOW PAYING” JPMorgan Chase & Co. (NYSE:JPM) CEO Jamie Dimon gave a phone interview to FOX Business Network’s (FBN) Charlie Gasparino about the $2 billion trading loss suffered from a failed hedging strategy they [...]

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John Chambers, CEO of Cisco, Blames Europe for Bad Quarter

Cisco Systems, Inc. (NASDAQ:CSCO) CEO John Chambers spoke with FOX Business Network’s (FBN) Liz Claman about Cisco’s third quarter earnings and what’s driving lower guidance. Chambers discussed what issues lie ahead in the future saying, “The first and most major is uncertainty in Europe” and “the second part is uncertainty [...]

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Thursday Economic, Stock and Hedge Fund News

Every afternoon we provide an update on global market levels, economic news, and hedge fund news.  Post Market Update  Market Levels  * US: Dow: 12855.00 (0.16%), S&P 500: 1357.99 (0.25%), NASDAQ: 2933.64 (-0.04%) * Europe: CAC: 3130.17 (0.37%), DAX: 6518.00 (0.65%), FTSE: 5543.95 (0.25%). * Asia-Pacific: Australia: 4295.60 (0.48%), China: 2410.23 (0.07%), Hong Kong: [...]

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All Bets Off On Greek Euro Exit

Bookmakers in Britain have suspended all bets; if Greece, will be leaving the eurozone due to the current political upheaval in the country. William Hill plc (LON:WMH) and Ladbrokes PLC (LON:LAD) have suspended all bets on whether Greece will be leaving the eurozone. Betting on William Hill had increased on Greece [...]

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AIG CDO Debt Sold To Bank of America by NY Fed

The Federal Reserve Bank of New York just announced that it sold $7.5 billion of debt obligations that had been collateralized and tied to Bank of America Corp. (NYSE: BAC) In a statement that was read to the public, New York Fed said that it the bid that won had [...]

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Chesapeake Troubles Continue As Pipeline Gains Steam

Chesapeake Energy Corporation (NYSE:CHK) is facing trouble on Wall Street just as it's subsidiary Chesapeake Midstream Partners L.P. (NYSE:CHKM) is seeing more and more interest in its future. Reuters today reported on the firm's deal to sell it's natural gas last year before it had come out of the ground to [...]

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FDIC Claims it Has Plan for Big Bank Failure

  Almost four years after the financial crisis saw large bailouts; regulators are trying to create a means through which the next batch of big bail outs does not occur. It has recently been reported that US regulators will be seizing the parent firm, in case a major financial catastrophe brings [...]

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Pfizer Gets Support For Arthritis Drug Approval

Pfizer Inc. (NYSE:PFE) has moved one step closer to approval of a drug that will improve options in the treatment of Rheumatoid Arthritis. An advisory panel specializing in arthritis medication voted 8-2 in favor of the drug stating that it's benefits outweighed its potential risks. The support of the [...]

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Goldman Sachs Again has Only One Day of Trading Losses

In a regulatory filing on Thursday, Goldman Sachs Group, Inc. (NYSE:GS) disclosed for the quarter ending March 31 a mixed bag of activities.  This included hedge fund sales, losses from lawsuits and a solo day of trading losses. Let's take a look at their actions. Hedge Fund Sales Goldman said in the [...]

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