See also yesterday's "Options: A Modestly Bearish Pre-Earnings Put Spread on JPMorgan Chase (JPM)"
J.P. Morgan Chase’s earnings report is getting a nod of approval from the markets. The stock is up around 1%. Here’s what a few analysts are saying right off the bat:
- Moshe Orenbuch, Credit Suisse: Stronger trading has positive implications for the capital markets sensitive names, including [Citigroup] and [Bank of America]. In mortgage, the higher foreclosure-related expenses and MSR write-down is a concern for [Wells Fargo] and [Bank of America]. The decline in originations was as expected. The repurchase expense was essentially in line with our estimate; however, the repurchase reserve continues to build modestly. For the card issuers, we view the solid credit quality improvement and substantial reserve release as positives....MORE