JPM, Intel crush earnings
JPMorgan (JPM) reports 47 percent rise in profits, while Intel enjoyed best fourth quarter in its history.
Don't get too excited by my headline...JPMorgan ($JPM) shares have already priced in a beat and the return of a real dividend. As far as Intel ($INTC), they could cure cancer this afternoon and the stock would still be magnetically drawn to 20 bucks a share (thanks to the magic of endless multiple compression).Skip to next paragraph
Joshua has been managing money for high net worth clients, charitable foundations, corporations and retirement plans for more than a decade.
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Before the opening bell, JPMorgan Chase reported a 47% jump in fourth-quarter earnings to $4.8 billion, or $1.12 per share. That beat the 99 cents per share forecast by analysts. But JPMorgan's stock edged lower in premarket trading.
After the market close Thursday, Intel. reported the best fourth-quarter earnings in company history -- both the chipmaker's revenue and profit set new records. Shares of the chipmaker were up about 1% in premarket trading.
These two earnings calls are very important in terms of setting the tone for an earnings season in which analysts are looking for a 27% jump in S&P 500 profits. They also represent two key sectors - the financials and the techs - sectors we need strong to maintain the gains of the fourth quarter.
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