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The Latest Breaking News from JPMorgan

Morning Brief: Top Stories Dominating Financial Media on Tuesday, April 12

CNBC Entrepreneur Behind Microsoft’s Wunderlist Raised $11M - Read Why

Benzinga

Dow Jones Falls; Twitter Climbs As Elon Musk Reverses Decision To Join Board; Nvidia Slides On Downgrade

The Dow Jones Industrial Average fell Monday. Twitter dropped after Tesla CEO Elon Musk reversed his decision to join the Twitter board.

Investors Business Daily

JPMorgan Upgrades Aerojet Rocketdyne, Raises Price Target By 22%

Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) has been upgraded to Overweight from Neutral by JPMorgan analyst Seth Seifman. The analyst also raised the price target to $49 from $40 (15% upside). Seifman mentions that the stock's current valuation is attractive, reflecting Aerojet's visible growth, net cash position, and the potential (eventually) to be acquired. According to…

Benzinga

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Here's Why JPMorgan Trimmed Apple's Earnings Outlook

JPMorgan analyst Samik Chatterjee sees consumer spending restricting the upside expectations from Apple Inc's (NASDAQ: AAPL) launch of the iPhone SE3 and will likely limit the magnitude of upside to iPhone 13 and App Store revenue in Services. Chatterjee trimmed earnings forecasts for Apple, led by a "modest haircut" to revenue growth estimates for iPhone and…

Benzinga

This Major Alibaba Investor Has Tripled Stock Buyback To $1.1B

SoftBank Group Corp (OTC:SFTBY) (OTC:SFTBF) bought ¥141.4 billion ($1.1 billion) worth of shares in March, versus ¥46.2 billion of shares in February, more than tripling the size of its share buybacks. The buyback, coupled with a 7.6% jump in Alibaba Group Holding Ltd's (NYSE:BABA) shares, helped SoftBank cap a monthly stock-price gain of 8.5%, a…

Benzinga

Jefferies Downgrades PACCAR, Cuts Price Target By 15%

PACCAR Inc (NASDAQ:PCAR) has been downgraded to Hold from Buy by Jefferies analyst Stephen Volkmann. The analyst also lowered the price target to $85 (an upside of 3.4%), from $100. Volkmann believes 2023 will likely be a cycle peak versus his previous expectation for an elongated cycle. Volkmann mentioned strong backlogs support near-term deliveries but…

Benzinga

JPMorgan Remains Bullish On This Chipmaker Despite Slashing Price Target By 15% - Read Why

JPMorgan analyst Samik Chatterjee lowered the price target on Qualcomm Inc (NASDAQ:QCOM) to $205 from $240 (39.5% upside) and kept an Overweight rating on the shares. The analyst moderated earnings estimates for Qualcomm, primarily led by a change to his QTL revenue estimates and slight moderation in both QCT revenue and margins. These changes' net…

Benzinga

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Jamie Dimon: 'The Fed Should Not Worry About Volatile Markets Unless They Affect The Actual Economy'

The Federal Reserve faces the daunting task of cooling the hottest inflation numbers in nearly 40 years.

Benzinga

Could better regulation reconcile trading and ethics?

For 30 years, financial scandals have been making front-page news. Among the most memorable were the fraud committed at Barings Bank in 1995, Sumitomo Bank in 1996, UBS in 2011 and JPMorgan in 2012.

The Conversation

Why Tesla Analysts Are Shrugging Off Q1 Deliveries Miss, Remain Bullish On The EV Stock

Tesla, Inc. (NASDAQ: TSLA) reported first-quarter delivery numbers over the weekend that narrowly missed the consensus expectation.

Benzinga

Could The Rise Of Fintech Create The Need For Bank Mergers? JPMorgan Chase CEO Jamie Dimon Weighs In

The rise of fintech has not been lost on the banking community.

Benzinga

Here's How Much Jamie Dimon Says The Russia-Ukraine War Will Cost JPMorgan

In his annual letter to shareholders on Monday, JPMorgan Chase & Co (NYSE: JPM) CEO Jamie Dimon stated that the ongoing Russia-Ukraine war will lead to a significant financial loss for the

Benzinga

Jamie Dimon Sees Work From Home Becoming More Prominent In American Business: How Is JPMorgan Preparing For Change?

JPMorgan Chase (NYSE: JPM) CEO Jamie Dimon touched on several topics at the forefront of society in an annual letter to shareholders, including the company's work-from-home practices.

Benzinga

JPMorgan Upgrades Vertiv - Read Why

JPMorgan analyst Stephen Tusa upgraded Vertiv Holdings Co (NYSE:VRT) to Overweight from Neutral with a price target of $18 (an upside of 22%). Tusa sees "compelling" risk/reward profits with earnings and free cash flow estimates reset. Also read: Veritiv Agrees To Sell Canadian Operations To Imperial Dade For Undisclosed Sum. Price Action: VRT shares are trading higher…

Benzinga

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Benzinga

Why This Apple, Qualcomm Analyst Says The Stocks Are Vulnerable To Shift In Consumer Spending

Apple, Inc. (NASDAQ: AAPL) and Qualcomm, Inc. (NASDAQ: QCOM) are among the high-profile tech names that have consistently delivered due to superior fundamentals and strong market positioning.

Benzinga

JPMorgan Stock Traded Flat In March: What's Next

JPMorgan Chase & Co (NYSE: JPM) shares ended the month relatively flat, despite trading as low as $128 and as high as $144 in March. Here's a look at what happened and what's ahead for the bank stock.

Benzinga

JPMorgan Downgrades UniFirst, Cuts Price Target By 11%

JPMorgan analyst Andrew Steinerman downgraded UniFirst Corp (NYSE:UNF) to Underweight from Neutral, reflecting on the Q2 EPS miss and mixed FY22 outlook. The analyst also lowered the price target to $178 (a downside of 1.4%) from $200. The analyst notes management's dim visibility into cost and margin headwinds and the company's financial performance amid…

Benzinga

JPMorgan Upgrades Masco To Neutral - Read Why

Masco Corp (NYSE:MAS) has been upgraded to Neutral from Underweight by JPMorgan analyst Michael Rehaut, with a price target of $62. Rehaut noted MAS's below-average exposure to U.S. new residential construction should allow for a lower cyclicality and vulnerability to a housing slowdown. However, the analyst warned about the company's Europe exposure, impacted by the…

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Benzinga

Who Is the Unlikely Cast Behind Nickel's Big Squeeze?: Bloomberg

It’s been three weeks since nickel was suspended on the London Metal Exchange after a 250% price spike, and while trading has resumed, the market remains all but paralyzed,

Benzinga

Here's How Analysts View Apple's Latest Products, Services

Analysts tried to gauge the impact of Apple Inc's (NASDAQ:AAPL) products and services. Apple is exploring subscription offerings for its hardware products as early as late 2022 or 2023. Morgan Stanley analyst Katy Huberty saw that the average Apple user spent $280 on hardware and added $69 to Apple Services revenue in 2021, implying, Apple…

Benzinga

JPMorgan Upgrades This Fortune 200 Manufacturing Company

Illinois Tool Works Inc. (NYSE:ITW) has been upgraded to Overweight from Neutral by JPMorgan analyst Tami Zakaria, as he views the stock's risk/reward as tilted more to the upside at the current valuation. The analyst lowered the price target for ITW to $255 (an upside of 20%) from $262. The analyst notes, management did not…

Benzinga

China Tech's Dwindling Fortunes Fuel More Alibaba Stake Selloff Speculations By SoftBank

The dwindling fortunes of the Chinese tech shares have prompted concerns over Alibaba Group Holding Ltd (NYSE:BABA) stake selloff by SoftBank Group Corp (OTC:SFTBY) (OTC:SFTBF), the Wall Street Journal reports. SoftBank's single most significant investment in the e-commerce giant was hit hard by the domestic crackdown. The Nasdaq Golden Dragon China Index of U.S.-listed Chinese stocks…

Benzinga

This Investor Has 800% Gains In Cleveland-Cliffs: Here's Why He Won't Sell The Stock

Cleveland-Cliffs Inc (NYSE: CLF) was featured as the call of the day Thursday on CNBC's "Fast Money Halftime Report."

Benzinga

Read How Analysts Reacted To Google's Pact With Spotify

Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google decided to allow Spotify Technology SA (NYSE:SPOT) and other app developers to offer users an alternative third-party payment option alongside Google Play's option. KeyBanc analyst Justin Patterson saw the move as a win for digital content providers. He viewed alternative payment options as a happy compromise that calmed regulators and…

Benzinga

JPMorgan's CEO Attracts Investor Criticism Over Technology Associated Spending Plans: FT

JPMorgan Chase & Co’s (NYSE: JPM) CEO Jamie Dimon is facing investor criticism over a multibillion-dollar plan to modernize the group’s technology and the decision to enter the U.K.’s highly competitive retail-banking market,

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