Word: jpmorgan
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...days since the bank boasted of its profits, the company's stock has fallen nearly 10%, to a recent $2.80. Shares of rivals Goldman Sachs and JPMorgan - both of which also produced profits in second quarter - have risen in the same time. (See 10 things to buy during the recession...
...midst of an economic boom, corporate downsizings were rampant - and how each time a company announced a major layoff, its stock rallied. What she found from her perch at Bankers Trust - and later in interviews with people at firms such as Morgan Stanley, Merrill Lynch, Lehman Brothers, Goldman Sachs, JPMorgan, Salomon Brothers, Kidder Peabody and Lazard - was that it wasn't just an ideological commitment to boosting shareholder value that drove decisions to merge, break up and restructure companies, but also the work culture of Wall Street itself. Ho, now a professor at the University of Minnesota, talked with Barbara...
...patents on the technology, has a head start. Just standing still isn't a very appealing strategy. The digital-camera market is stagnating. About 128 million digicams were sold last year, and amid the recession, sales are expected to shrink this year, according to Hisashi Moriyama, senior analyst at JPMorgan Securities in Tokyo. The U.S., Europe and Japan are near market saturation with about 80% to 90% penetration, meaning as many as 9 out of 10 consumers already have digital cameras, says Moriyama...
...workers, or $386,489 per employee. The huge profits were hailed on Wall Street as another sign that the crisis might be ending. On July 15, the Dow Jones industrial average jumped 3.1%, and other banking giants are expected to issue their own similarly glowing reports. On July 16, JPMorgan announced that it had earned $2.7 billion in the second quarter. (Read "Despite the Economy's Struggles, Stock Market Soars...
Though both Goldman and JPMorgan have paid back their infusion of Treasury dollars, the recent crisis has made clear to investors that the firms are considered by U.S. policymakers to be "too big to fail." The crisis has also created a premium for those firms willing to take on more risk in trades. According to company data, Goldman - which converted to a commercial bank at the height of the crisis in order to gain easier access to cheaper government credit - has significantly reduced its leverage ratio, which measures how much money it borrows, from 27.9 at the beginning...