BUZZ Before the Bell: Dimon Buys JPM Stock, GE and MSFT Edge Lower
JPMorgan Chase (NYSE:JPM) shares dropped more than 2 percent in early trading today. According to an SEC filing, CEO Jamie Dimon purchased 500,000 shares last week at around $34 each. However, he also sold preferred shares that helped offset purchasing costs. Shares of America’s largest bank by assets are up 2 percent year-to-date.
Shares of General Electric (NYSE:GE) continued to attract attention late this morning after the company last week reporting quarterly earnings. Yet, this morning shares are down over 1%. The company reported that net income for the second-quarter increased 6.3 percent to $4 billion (34 cents per share), compared to $3.76 billion (35 cents per share) a year earlier. The results “demonstrate that we are executing on our growth strategy in the midst of a still volatile global economy,” said GE Chairman and CEO Jeff Immelt.
Microsoft (NASDAQ:MSFT) shares were down 1.94 percent this morning in pre-market trading. The company last week reported a net loss of $492 million (6 cents per share) for the most recent quarter, compared to a net gain of $5.87 billion (69 cents per share) a year earlier. It was the first net loss the Windows-maker since going public in 1986.
Advanced Micro Devices (NYSE:AMD) is still attracting attention after the company announced second-quarter financial results late Thursday. Net income for the company dropped 39.3 percent to $37 million (5 cents per share), compared to 61 million (8 cents per share) a year earlier. Revenue also declined 10.4 percent to $1.41 billion, falling in line with estimates. Intel (NASDAQ:INTC) shares edged lower in pre-market trading today another 1%.
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