JPMorgan Chase (JPM Quote) is poised to follow Goldman Sachs (GS Quote) with its own better-than-expected second-quarter results early Thursday morning.
Investors are already aware of two significant hits JPMorgan will take in the second quarter. The company warned it will take a $1.1 billion, or 27-cents-a-share, charge for the repayment of $25 billion in government bailout funds, and analysts have estimated it will pay an assessment of $725 million, or roughly 12 cents a share, to the Federal Deposit Insurance Corp. Still, investors should be confident JPMorgan can reap benefits from the depths of the financial crisis.
Goldman was also able to profit significantly from the turbulent markets, posting a $3.44 billion, or $4.93 a share, profit on Tuesday. That is more than 6% higher than the highest analyst estimate polled by Thomson Reuters. The consensus analyst estimate was a profit of $3.54 a share. ...
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