JPMorgan: Slightly adds to gains after Q2 EPS beat
13/07/2018 12:35
** JPMorgan shares JPM.N up 0.51 pct at $107.40 premarket,
slightly adding to their gains of 0.39 pct ahead of Q2 results
** JPM's Q2 EPS tops estimates, driven by much
higher-than-expected trading revenue and increased loan demand
urn:newsml:reuters.com:*:nL4N1U943V
** JPM EPS of $2.29 beats consensus of $2.22 after a miss in
Q1, which was its first in two years urn:newsml:reuters.com:*:nL3N1RQ49G
** JPM kicks off earnings season for big U.S. banks; Wells
Fargo WFC.N , Citigroup C.N due to report at 8 a.m. ET
** WFC up 0.48 pct premarket, Citi up 0.64 pct
** JPM options activity implies a 2.2 pct swing in either
direction for shares by Fri. close. In last 8 qtrs, shares moved
1.2 pct on avg on earnings days - Trade Alert data urn:newsml:reuters.com:*:nL1N1U81OV
** JPM dips 0.08 pct YTD, while the others in the big six US
banks are down between 11 pct (Goldman GS.N ) and 2.5 pct (Bank
of America BAC.N ); S&P 500 banks .SPXBK down ~3 pct YTD
** JPM's NTM price-to-book ratio is 1.47, highest among big
banks; WFC is next at 1.42x and Citi is lowest at 0.88x
(Reporting by Savio D'Souza)
((RM:savio.dsouza.thomsonreuters.com@reuters.net))