Morgan Stanley (MS - Get Report) is the lead banker on Facebook's IPO, but JPMorgan (JPM) entrenched itself as the No. 2, which could mean bigger things down the line for its investment banking division. IPOs bring in big fees for banks, which are precious at a time of weak trading revenue thanks to stricter regulations.
JPMorgan isn't known for bringing technology companies public, so being ahead of Goldman Sachs (GS) in underwriting Facebook was a real coup.Last year, JPMorgan purchased a significant stake in Twitter, so perhaps the tech juggernaut will keep rolling under CEO Jamie Dimon and his banking team. Shares of JPMorgan have gained 9% this year.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts