Financial Sector Review: JPMorgan CEO Assuages Investors, BofA Says Risk Is Back
Winmark Corporation (NASDAQ:WINA): Reports Q4 revenue $13.23M vs. $10.47M a year ago.
The shares closed at $57.87, down $5.23, or 8.29%, on the day. Its market capitalization is $287.73 million.
Bank of America Corp (NYSE:BAC): Bank of America (NYSE:BAC) Co-COO Thomas Montag, speaking at a conference, told hedge fund investors and managers that “risk seems to be back on,” and that he has seen a rush of investors in recent weeks into equities and bonds, reports Reuters. He then added that risk taking is not occurring among the bank’s own traders.
The shares closed at $7.97, down $0.14, or 1.73%, on the day. Its market capitalization is $85.54 billion.
JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Company (NYSE:WFC): Goldman Sachs Group (NYSE:GS), JPMorgan Chase (NYSE:JPM) and Wells Fargo & Co. (NYSE:WFC) have been told U.S. securities regulators may sue them in civil court over allegedly shoddy disclosures of the risks of subprime mortgage bonds tied to the financial crisis, the Wall Street Journal reports.
JPM shares closed at $39.24, up $0.03, or 0.08%, on the day. Its market capitalization is $148.04 billion. WFC shares closed at $31.29, down $0.08, or 0.26%, on the day. Its market capitalization is $164.67 billion.
Citigroup Inc. (NYSE:C): JPMorgan Chase’s (NYSE:JPM) CEO Jamie Dimon assured investors with certainty that last year’s revenue declines were temporary and not a seismic shift, stating, We’re telling you it is cyclical. I’m not hedging that, while speaking at the company’s analyst day, according to Financial Times. He added, I’ll be damned if we don’t have record profits for the next year or two, as quoted by FT.
The shares closed at $33.32, down $0.16, or 0.48%, on the day. Its market capitalization is $97.42 billion.
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