3 Ways JPMorgan Chase Needs to Come Clean: Analyst |
| CNBC.com - Jun 11, 2012 |
Morgan Stanley analyst Betsy Graseck said investors could see “an upside surprise” in the shares of JPMorgan Chase, as the company makes additional disclosures about “the composition of the $2 billion loss in the first six weeks of the second quarter of 2012.”
JPMorgan’s shares [JPM 32.82 -0.86 (-2.55%) ] closed at $33.68 Friday, declining 17 percent since they closed at $40.44 on May 10, just before CEO James Dimon disclosed an estimated $2 billion in second-quarter hedge trading losses.
Bank regulators, along with the U.S. Justice Department and the Securities and Exchange Commission have announced investigations of the hedging activity JPMorgan’s chief investment office and/or the company’s disclosure of the losses, and even the Federal Bureau of Investigation has been reported to open an investigation into the matter.
Graseck says that the “key to getting investors back into JPM is answers to three questions,” beginning on Wednesday, when Dimon will testify before the Senate Banking Committee.
Read Full Article from CNBC.com
- Posted: 2012-06-11 16:03:12
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