JPMorgan Chase Reports Quarterly Profit and 4 Heavily Traded Shares Trading Today
JPMorgan Chase & Co. (NYSE:JPM) reported a record quarterly profit on Friday, which was assisted by by a boost in mortgage refinancing. CEO Jamie Dimon stated that he thinks that the housing market “has turned a corner.” The bank earned $5.3 billion from July through September, which is a 36 percent increase over the same period last year. It worked out to $1.40 per share, which was much higher than the $1.21 predicted by analysts polled by FactSet.
Citigroup Inc. (NYSE:C) Chief Executive Vikram Pandit attempted to brush aside requests to break up banks that are considered too big to fail, as he claimed that diversified financial institutions are “in line with what the clients need and how the market has evolved,” The Nikkei reported on Friday morning.
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Intel Corporation (NASDAQ:INTC) is set to report its Q3 results on Tuesday, and the quarter saw a sharp slowdown in worldwide PC sales.
Alpha Natural Resources, Inc. (NYSE:ANR) today announced the early tender results of the previously announced cash tender offer by Alpha and Alpha Appalachia Holdings, Inc. for as much as $350 million aggregate principal amount of the outstanding 3.250 percent Convertible Senior Notes due in 2015 issued by the issuer and consent solicitation to amend particular terms of the indenture beneath which the Notes were issued as described in the Offer to Purchase and Consent Solicitation Statement dated on September 27, 2012 and the related Consent and Letter of Transmittal. In regards to the previously announced “Early Expiration Date” of 5:00 p.m. Eastern, on October 11, 2012, $122,349,000 in aggregate principal amount, nearly 18.58 percent, of the Notes outstanding has been validly tendered and not withdrawn.
Microsoft Corporation (NASDAQ:MSFT) intends to launch a marketing campaign for Windows 8 during the weekend. Microsoft and its hardware allies are to have tons of ads costing hundreds of millions of dollars.
Don’t Miss: Windows 8: Microsoft’s Big Bet.