Rochester, NY 7/15/2009 2:11:08 AM
JPM - JPMorgan (JPM) NewsBite - JPM Earnings Preview
JPMorgan Chase & Co., JPM
JPMorgan Chase & Co., JPM
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JPMorgan opened at $32.87. So far today, the stock has hit a low of $32.43 and a high of $33.43. JPM is now trading at $33.07, up $0.73 (2.26%). Over the last 52 weeks the stock has ranged from a low of $14.96 to a high of $50.63. Shares of JPM are rising today ahead of the company's second-quarter earnings report on Thursday. Analysts are expecting the bank to report adjusted earnings of 4 cents per share on revenue of $25.87 billion. This morning, analysts at Barclays Capital lowered their earnings estimate for JPM to 10 cents per share from 40 cents per share, including a 27 cents per share charge related to the early repayment of TARP bailout funds. The analysts added that JPM's "core" results should remain profitable due to improvements in capital markets. Technical indicators for the stock are bullish and S&P gives JPM a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on JPM the stock seems like it could be a candidate for an August out-of-the-money bull-put credit spread below the 30 range. [ABR-Seven Summits Strategic Investments NewsBite]
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