07/16/2009：盘前速递及JPM ER

07/16/2009：盘前速递及JPM ER

ET 3：20am，ES5分钟成交量4.5k，ES 924-〉925.50。
ET 6：25am，ES5分钟成交量5.2k，ES 924.75-〉925.50。
ET 6：30am，ES5分钟成交量15k，ES 925.50-〉928.25。（这个拉升很显著。相当于正常时段的成交量）
ET 6：30am，ES5分钟成交量5k，ES 928.25-〉928.75。

ET 6：30am，JPM ER：

JPM Reports 2Q Net Income of $2.7 Billion, or $0.28 Per Share

• Earnings per share reduced by TARP repayment ($0.27) and FDIC special assessment ($0.10)
• Record firmwide revenue of $27.7 billion, resulting in record revenue for the first half of 2009 (on a managed basis ¹):
  • Reported record Investment Banking Fees and Fixed Income Markets revenue in the Investment Bank; maintained #1 rankings for Global Debt, Equity and Equity-related, and Global Investment Banking Fees
  • Continued earnings and revenue growth in Commercial Banking; solid performance in Asset Management, Treasury & Securities Services and Retail Banking
• Maintained fortress balance sheet with Tier 1 Capital of $122.2 billion, resulting in 9.7% Tier 1 Capital ratio and 7.7% Tier 1 Common¹ratio:
  • Added $2 billion to credit reserves, bringing the total to $30 billion; firmwide loan loss coverage ratio of 5%² as of June 30, 2009
  • Repaid in full the $25 billion TARP preferred capital

• Continued lending and foreclosure prevention efforts:
  • Extended approximately $150 billion in new credit to consumers, corporations, small businesses, municipalities, and non-profits
  • Approved 138,000 trial mortgage modifications in the second quarter, bringing total foreclosures prevented since 2007 to 565,000
    

NEW YORK--(BUSINESS WIRE)--JPMorgan Chase & Co. (NYSE: JPM - News) today reported second-quarter 2009 net income of $2.7 billion, an increase of 36% compared with net income of $2.0 billion in the second quarter of 2008. Earnings per share were $0.28, compared with $0.53 in the second quarter of 2008. Current-quarter earnings per share reflected a one-time, non-cash reduction in net income applicable to common stockholders of $1.1 billion, or $0.27 per share, resulting from repayment of TARP preferred capital.

Jamie Dimon, Chairman and Chief Executive Officer, commented on the results: “We are pleased that, despite a continued difficult economic environment, we were able to report $2.7 billion in earnings and record revenue of almost $28 billion. Of particular note, the Investment Bank reported record overall revenue for the first half of the year, which included record fees and Fixed Income Markets revenue for this quarter. In addition, Commercial Banking, Asset Management, Treasury & Securities Services and Retail Banking each delivered another quarter of solid performance. These results were negatively affected by the continued high levels of credit costs in Consumer Lending and Card Services, which we expect will remain elevated for the foreseeable future.”

Regarding balance sheet strength, Dimon added: “Even after further strengthening our credit reserves by $2 billion to $30 billion and repaying the $25 billion of TARP capital, the firm ended the quarter with a very strong Tier 1 Capital ratio of 9.7% and a Tier 1 Common ratio of 7.7%. With these additions to reserves, we now have an extremely high loan loss coverage ratio of 5%.”

Dimon further remarked: “Throughout this crisis, we have remained committed to doing our part to help bring stability to the communities in which we operate and to the financial system overall. During the quarter, we maintained our efforts to support economic recovery and to help keep people in their homes. We continued to lend, extending approximately $150 billion in new credit to consumer and corporate customers. We approved 138,000 trial mortgage modifications, bringing total foreclosures prevented since 2007 to 565,000 – a number we expect to continue to grow.”

Commenting on the second half of 2009, Dimon concluded: “While we do not know if the economy will deteriorate further, we feel confident that, with our strong capital and reserve levels and significant earnings power, we can continue to reinvest in our businesses and do well for our clients, communities and shareholders over the long term.”


JPM posts 2Q profit, surpasses Street

JPMorgan Chase posts 2nd-quarter profit of $2.72 billion helped by investment banking business

CHARLOTTE, N.C. (AP) -- JPMorgan Chase & Co. posted a 36 percent jump in second-quarter profit Thursday, easily surpassing Wall Street expectations as strength in its core consumer and investment banking businesses offset a jump in credit losses.

The New York-based banking giant, the second big financial institution in a week to release upbeat earnings news, reported net income of $2.72 billion, or 28 cents per share, up 36 percent from $2 billion, or 53 cents per share, a year earlier. Revenue rose 39 percent to $25.62 billion from $18.4 billion.

Earnings per share fell despite an increase in profit because the company had more stock outstanding in the most recent quarter ending June 30.

Analysts forecast earnings of 4 cents per share on revenue of $25.89 billion for the quarter.

The profit came despite a $1.1 billion charge, or 27 cents a share, as JPMorgan repaid in full $25 billion in loans it received from the government as part of the Troubled Asset Relief Program, or TARP. The bank was also hit by a 10-cents-a-share FDIC special assessment penalty.

CEO Jamie Dimon said he was "pleased" by the results, even as the company's latest numbers were weighed down by higher credit costs, particularly in the company's consumer lending and credit card businesses.

Results were driven by record investment banking fees and revenue in fixed income markets, much like rival Goldman Sachs Group Inc., which reported strong earnings on Tuesday. At JPMorgan's investment bank, revenue jumped 33 percent to $7.3 billion. The segment's profit more than tripled to $1.5 billion.

But that was offset by credit costs that remain high in consumer lending and card services. The bank said it set aside $9.7 billion for credit losses, up from $4.29 billion a year earlier but down from the first quarter's $10 billion.

Dimon said the company expects credit costs to "remain elevated for the foreseeable future."

Still, the company has continued to lend, Dimon said.

JPMorgan said it extended $150 billion in new credit to consumers, corporations, small businesses, municipalities and non-profits and has approved 138,000 trial mortgage modifications in the quarter, bringing total foreclosures prevented since 2007 to 565,000.

"Throughout this crisis, we have remained committed to doing our part to help bring stability to the communities in which we operate and to the financial system overall," Dimon said.

The bank said it set aside $9.7 billion for credit losses, up from $4.29 billion a year earlier but down from the first quarter's $10 billion.

JPMorgan's upbeat report followed strong earnings earlier Tuesday from Goldman Sachs Group Inc.