http://mobile.reuters.com/article/businessNews/idUSBRE83D00A20120415 Wall Street Wk Ahead: Stocks to track earnings with eye on Europe By Chuck Mikolajczak and Caroline Valetkevitch NEW YORK (Reuters) - After suffering their worst two weeks of the year, stocks will look to quarterly earnings to determine whether the recent pullback has been exhausted or more losses are justified. Alcoa Inc (AA.N) opened the earnings season with a bang, reporting a first-quarter profit on Tuesday instead of the expected loss. That positive surprise foretold a trend. Of the 32 companies in the S&P 500 that have reported earnings so far, Thomson Reuters data showed that 75 percent - or two dozen - have beaten Wall Street's expectations. This week will start one of the busiest weeks of the quarterly earnings reporting period. About 86 companies in the Standard & Poor's 500 are expected to post results, according to Thomson Reuters Director's Report. At Friday's close, both the Dow Jones … [Read more...]
Wall Street Wk Ahead: Stocks to track earnings with eye on Europe | Article | Business | Reuters.com
E*Trade Stock Up 6% Today and 20% since March 6
I was checking through my portfolio on Google Finance when I realized that I made some changes on March 6, and E*Trade has always been a small part of my benign portfolio. However, I went back to check on bank stocks and I was taken back by E*Trade's surge today. However, I was more shocked over the stock has increased 20% since March 6. Where does the madness end? … [Read more...]
JP Morgan is Tuesday’s winner of Fed’s stress test
JP Morgan Chase (NYSE: JPM) made the last hour of trading even hotter with the bank's dividend and buyback announcement. The Federal Reserve gave the US largest bank by assets the blessing to raise the dividend on the bank's stock by a nickel to 30 cents a share and allowing a plan buyback of $15 billion of its stock. This announcement was just before the Federal Reserve Bank's Stress Test release by the Federal Reserve Bank on 19 banking institutions, and the performance results were made public after the 4pm market close. The blessing by Federal Reserve was more good news for the markets as the Dow surged 218 points, and the NASDAQ closed above 3000. JP Morgan did lead the industry in announcing the increase on dividends paid to its shareholders.JP Morgan Chase was up 7% to 43.39 at close of business today.... However, many banks and financials were a benefactor on JP Morgan’s announcement late Tuesday. The following DC banking/financial institutions did see significant gains in … [Read more...]
