ThinkstockComerica Inc. (NYSE: CMA) reported fourth-quarter and full-year 2012 results before markets opened this morning. The financial services company reported diluted earnings per share (EPS) of $0.68 on net income of $130 million. In…
ThinkstockWith banks having been the best DJIA sector in 2012, the outlook versus the valuation has started to play a game of catch-up as we are getting deeper into earnings season this week. Because…
Jon OggCurrencyShares Japanese Yen Trust (NYSEMKT: FXY) and ProShares UltraShort Yen (NYSEMKT: YCS) have a lot to win or lose based upon the new devaluation/inflation strategy of Japan’s politicians and central bankers. Today on Bloomberg Surveillance we…
ThinkstockWe recently wrote that shorting the Treasury bond market may very well be the next biggest short-sale trade since the subprime mortgage short. While rates have dipped a little in the past week as investors…
ThinkstockWhere was the board of J.P. Morgan Chase & Co. (NYSE: JPM) when risk management might have stopped the “London Whale” problem and other investment decisions the bank probably should not have made? The…
Wikimedia CommonsFor all the problems that the “London Whale” incident cost J.P. Morgan Chase & Co. (NYSE: JPM) and the markets in general, the sanctions handed down by the Federal Reserve and Office of…
ThinkstockJ.P. Morgan Chase & Co. (NYSE: JPM) CEO Jamie Dimon’s problems with a trade in the bank’s London office that cause a $6 billion loss may be about to get worse. His board has…
ThinkstockXoom Corporation has decided to be one of the first filings for an initial public offering in 2013. The company filed to raise up to $50 million via a common stock sale but no…
If the spread of junk bonds keeps contracting as investors clamor for yield in an environment where yields are so low, they are going to be priced where investment-grade bonds used to be priced.…
ThinkstockCharles Plosser, President of the Federal Reserve Bank of Philadelphia, told an audience in New Jersey this morning that while he sees no near-term or medium-term risk of inflation, in the longer term the…
ThinkstockIn mid-December, the U.S. Securities and Exchange Commission approved a proposal by J.P. Morgan Chase & Co. (NYSE: JPM) to create an exchange traded fund backed by physical copper. Copper users and traders had…
ThinkstockWells Fargo & Co. (NYSE: WFC) reported fourth-quarter 2012 and full-year results this morning. The bank reported quarterly diluted earnings per share (EPS) that totaled $0.91 on revenue of $21.9 billion. In the same…
ThinkstockIn an exclusive report from Reuters this morning, “people familiar with the situation” say that the Office of the Comptroller of the Currency (OCC) will end its investigation into certain practices at J.P. Morgan…
ThinkstockAmerican Express Co. (NYSE: AXP) is not usually the first of the financial DJIA stocks to report its earnings in the quarter. The credit card issuer just announced its earnings along with restructuring charges.…
ThinkstockWells Fargo & Company (NYSE: WFC) is set to report earnings early on Friday morning. We voted this bank as the safest of the money-center banks before and that still stands. This is the only…