JPMorgan Chase, the nation's second-biggest bank by assets, exceeded Wall Street's expectations Wednesday, reporting surging profits and higher employee pay despite lower revenues and decreased lending as the lender set aside less money.
JPMorgan Chase, the nation's second-biggest bank by assets, exceeded Wall Street's expectations Wednesday, reporting surging profits and higher employee pay despite lower revenues and decreased lending as the lender set aside less money to cover losses.
The banking behemoth, which grew even larger in the three-month period ending in March, said profit skyrocketed to 5.6 billion, 67 percent more than the same period last year. The lender reported a profit-per-share of 1.28. Analysts forecast 1.16, according to Thomson Reuters.
JPMorgan is the first major financial firm to report its quarterly numbers, and analysts and investors traditionally consider the lender's results as a harbinger of other big banks' profits as well as a status check on the overall health of the economy. The 2.2 trillion bank has about 5,300 branches nationwide, 26.6 million checking accounts, and one of Wall Street's biggest trading and capital-raising units.
Tags: jp morgan
Posted in Trends — admin @ 7:19 pm @ April 13, 2011
Aurora borealis, also known as the northern lights, is a natural occurring phenomenon that lights up the sky in northern latitudes' polar region. The aurora borealis most often occurs around the equinoxes, and a similar spectacle.
Aurora borealis, also known as the northern lights, is a natural occurring phenomenon that lights up the sky in northern latitudes' polar region. The aurora borealis most often occurs around the equinoxes, and a similar spectacle happens in the southern hemisphere, known as the aurora australis. Auroras occur when increased solar activity sends charged particles toward Earth.
From National Geographic: Auroras are created when such charged particles flow along Earth's magnetic field lines. The particles hit the atmosphere at the Poles and excite air molecules, which release the extra energy as light.
Early 2011's aurora borealis was particularly intense due to the sun's most intense solar activity in 4 years. The series of massive solar flares triggered a bright aurora borealis spectacle widely viewed across northern regions.
The Celtics lost to the Heat on Sunday night, all but ruining their chances to grab the Eastern Conference's No. 2 seed. When the Celtics lost to the Wizards on Monday as the Heat knocked off the Hawks, it became official.
Miami's 98-90 win means they will occupy the second seed in the East, while the Celtics will man the third spot. In doing so, Boston is on a collision course for a first-round showdown with the New York Knicks. The C's have won all three matchups with the Knickerbockers this season, and the two teams will meet on Wednesday in the regular-season finale for both.
That also means that the Heat will get the 76ers in the first round of the playoffs.
Meanwhile, out West, there are still some matchups to be decided. San Antonio is the top seed, and that's about all that's settled. The Lakers have, for now, fallen into the No. 3 spot, while Dallas assumes the second seed.
