Shares of J.P. Morgan Chase & Co. rose 1.8% in premarket trading, after the banking giant reported first-quarter profit and revenue that missed expectations, hurt by the COVID-19 pandemic, but beat on net interest income and saw strong growth in equity and fixed income markets revenue. Net income fell to $2.87 billion, or 78 cents a share, from $9.18 billion, or $2.65 a share, in the year-ago period. The FactSet consensus was for earnings per share of $2.18. Total revenue fell to $29.07 billion from $29.85 billion, below the FactSet consensus of $29.55 billion, while net interest income was flat at $14.5 billion to beat expectations of $14.0 billion. Consumer and community banking revenue fell 2.4% to $13.17 billion, below the FactSet consensus of $13.75 billion and corporate and investment bank revenue declined 0.9% to $9.95 billion, missing expectations of $10.29 billion. Within C&I, equity markets revenue jumped 28% to $2.2 billion and fixed income revenue grew 34% to $5.0 billion. "he first quarter delivered some unprecedented challenges and required us to focus on what we as a bank could do - outside of our ordinary course of business - to remain strong, resilient and well-positioned to support all of our stakeholders," said Chief Executive Jaime Dimon. The stock has lost 29.3% over the past three months, while the Dow Jones Industrial Average has declined 19.2%.
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|30 yr fixed Jumbo||3.75%|
|30 yr fixed||3.62%|
|15 yr fixed||3.11%|
|10 yr fixed||3.21%|
|30 yr fixed refi||3.72%|
|15 yr fixed refi||3.26%|
|5/1 ARM refi||3.58%|
|$30K Home Equity Loan||5.24%|
|$50K Home Equity Loan||3.74%|
|$75K Home Equity Loan||3.74%|
|$100K Home Equity Loan||4.12%|
|5 yr CD||0.86%|
|2 yr CD||0.68%|
|1 yr CD||0.62%|
|MMA Savings Jumbo||0.41%|
Tesla Inc. has reached out to at least some of its landlords seeking rent reductions, according to firms contacted by the car company, as the auto maker looks for cost savings in response to the novel coronavirus outbreak ...