This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

JPMorgan: Financial Winners & Losers

( Updated with stock price moves.)

NEW YORK ( TheStreet) -- JPMorgan Chase (JPM - Get Report) was among the losers of the financial sector Friday, despite an upgrade from a Citigroup analyst.

JPMorgan shares were trading lower despite positive comments from Citigroup analyst Keith Horowitz, who raised his rating on JPMorgan shares to buy from hold. The stock's recent underperformance provides investors with an "excellent entry point," Horowitz wrote in a research note Friday.

JPMorgan was one of several financial companies losing ground in the aftermath of the White House's renewed push for regulation of the financial industry. On Thursday, President Obama said his administration would work with Congress to ensure that any financial institution that contains a bank does not "own, invest or sponsor" a hedge fund, private equity fund or proprietary trading desk "unrelated to serving customers."

Horowitz said that the proposal to limit proprietary trading "would have a limited 2% impact on normalized earnings-per-share" for JPMorgan. Still, shares were down 4% to $38.93.

JPMorgan wasn't alone in the red Friday, as several other bank stocks fell on regulation fears. Bank of America (BAC - Get Report) slid 4.5% to $14.77, Goldman Sachs (GS) lost 4.5% to $153.65, and Morgan Stanley (MS) declined 6.1% to $27.54.

Citigroup (C - Get Report) shares had bucked the trend earlier in the day, but were down 0.3% to $3.26. Wells Fargo (WFC) had also traded higher, but were losing 2.8% to $27.21.

Investors were also sifting through earnings from several financial companies. Late Thursday, American Express (AXP - Get Report) reported fourth-quarter earnings of 60 cents a share, beating Wall Street estimates that called for a profit of 57 cents a share.
1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
SYA $0.00 0.00%
AXP $65.43 0.00%
BAC $14.56 0.00%
C $46.28 0.00%
COF $72.39 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs