JPMorgan extends buyback suspension until year's end

12:05 PM 13 October 2020

JPMorgan published Q3 results ahead of the Wall Street session start today. US bank generated revenue of $29.94 billion against expected $28.39 billion. EPS came in at $2.92, much better than expected $2.35. Company also reported much smaller than expected provisions for bad loans - $611 million (exp. $2.38 billion). Results look solid on the face of it but release still triggered downward move on the US futures. Why? JPMorgan decided to extend buyback suspension until the end of the fourth quarter of the year.

JPMorgan finished yesterday's trading slightly below resistance zone at $105.00, that is also marked with a 200-session moving average (purple line). Decision to extend buyback suspension may weigh on share price during today's trading. Source: xStation5

Share:
Back

Join over 1 600 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits