JPMorgan Chase (JPM) kicks off earnings season for the financial sector ahead of Thursday's opening bell, and investors will be keen to see whether a pick-up in mergers and acquisitions has offset an industry-wide drop-off in trading activity.
The nation's second-biggest bank by assets behind fellow Dow component Bank of America (BAC) has received praise for the way it has navigated the credit crisis, but new financial regulations and months of low volatility and low volume are likely to mean a decline in trading revenue -- an area that has previous helped compensate for rising loses on bad loans.
At the same time, brisk business in capital markets and an increase mergers and acquisitions should help J.P. Morgan's investment banking revenue. Its mortgage business will also be in the spotlight, as investors and analysts look for any impact from the foreclosure crisis.
Wells Fargo (WFC) reported net income rose 3% to a record $3.34 billion in the third quarter, thanks to its merger with Wachovia, the bank said. Also, improving credit conditions managed to offset a 7% fall in revenue.
In the third quarter, Wells Fargo posted earnings of 60 cents per share, up from 56 cents for the same period last year. Analysts had expected earnings of 55 cents a share. "Record earnings in the third quarter reflect the success of the Wachovia merger and the benefits of Wells Fargo's steady commitment to our core business of helping customers succeed financially," said Chairman and CEO John Stumpf.
"Credit losses continued to trend down, with net charge-offs declining 9% linked quarter, and down $1.3 billion, or 24%, from the peak in fourth-quarter 2009," said Chief Financial Officer Howard Atkins. Provisions for credit losses dropped 44% from $6.11 billion last year to $3.45 billion.
The Big Question: Foreclosures
However, Well Fargo revenue declined 7% to $20.9 billion, compared to $22.5 billion in third-quarter 2009. That drop was due to smaller net debt and equity security gains, PCI (purchased credit impaired) loan resolution income and the impact from the overdraft regulation changes. Some businesses, though, generated double-digit annualized revenue growth, including asset management, mortgage banking, brokerage, commercial banking, commercial mortgage servicing, commercial real estate and debit card.
Still, if Bank of America's (BAC) earnings yesterday are any indication, what investors would really like to understand is how Wells Fargo is faring in regard to foreclosure and mortgage issues.
eric seiger
Arrowheadlines: Chiefs <b>News</b> 11/10 - Arrowhead Pride
Good morning Kansas City Chiefs fans! Another full day of news for you. DJ, Special Teams, Parity, and this Sunday's opponent wait below. Enjoy.
<b>News</b> Flash! Chris Christie's got junk in the trunk | The Daily <b>...</b>
Christie critics turn to weightiest issues when attacking governor.
Olbermann Suspension Helped Fox <b>News</b> | FrumForum
MSNBC isn't an impartial arbiter of news, at least not the sanctified area in which Olbermann, Ed Schultz, and Rachel Maddow inhabit. It never was. And you may not see flowing robes and white collars but they preach to the choir all the ...
eric seiger
JPMorgan Chase (JPM) kicks off earnings season for the financial sector ahead of Thursday's opening bell, and investors will be keen to see whether a pick-up in mergers and acquisitions has offset an industry-wide drop-off in trading activity.
The nation's second-biggest bank by assets behind fellow Dow component Bank of America (BAC) has received praise for the way it has navigated the credit crisis, but new financial regulations and months of low volatility and low volume are likely to mean a decline in trading revenue -- an area that has previous helped compensate for rising loses on bad loans.
At the same time, brisk business in capital markets and an increase mergers and acquisitions should help J.P. Morgan's investment banking revenue. Its mortgage business will also be in the spotlight, as investors and analysts look for any impact from the foreclosure crisis.
Wells Fargo (WFC) reported net income rose 3% to a record $3.34 billion in the third quarter, thanks to its merger with Wachovia, the bank said. Also, improving credit conditions managed to offset a 7% fall in revenue.
In the third quarter, Wells Fargo posted earnings of 60 cents per share, up from 56 cents for the same period last year. Analysts had expected earnings of 55 cents a share. "Record earnings in the third quarter reflect the success of the Wachovia merger and the benefits of Wells Fargo's steady commitment to our core business of helping customers succeed financially," said Chairman and CEO John Stumpf.
"Credit losses continued to trend down, with net charge-offs declining 9% linked quarter, and down $1.3 billion, or 24%, from the peak in fourth-quarter 2009," said Chief Financial Officer Howard Atkins. Provisions for credit losses dropped 44% from $6.11 billion last year to $3.45 billion.
The Big Question: Foreclosures
However, Well Fargo revenue declined 7% to $20.9 billion, compared to $22.5 billion in third-quarter 2009. That drop was due to smaller net debt and equity security gains, PCI (purchased credit impaired) loan resolution income and the impact from the overdraft regulation changes. Some businesses, though, generated double-digit annualized revenue growth, including asset management, mortgage banking, brokerage, commercial banking, commercial mortgage servicing, commercial real estate and debit card.
Still, if Bank of America's (BAC) earnings yesterday are any indication, what investors would really like to understand is how Wells Fargo is faring in regard to foreclosure and mortgage issues.
eric seiger
Arrowheadlines: Chiefs <b>News</b> 11/10 - Arrowhead Pride
Good morning Kansas City Chiefs fans! Another full day of news for you. DJ, Special Teams, Parity, and this Sunday's opponent wait below. Enjoy.
<b>News</b> Flash! Chris Christie's got junk in the trunk | The Daily <b>...</b>
Christie critics turn to weightiest issues when attacking governor.
Olbermann Suspension Helped Fox <b>News</b> | FrumForum
MSNBC isn't an impartial arbiter of news, at least not the sanctified area in which Olbermann, Ed Schultz, and Rachel Maddow inhabit. It never was. And you may not see flowing robes and white collars but they preach to the choir all the ...
eric seiger
eric seiger
eric seiger
Arrowheadlines: Chiefs <b>News</b> 11/10 - Arrowhead Pride
Good morning Kansas City Chiefs fans! Another full day of news for you. DJ, Special Teams, Parity, and this Sunday's opponent wait below. Enjoy.
<b>News</b> Flash! Chris Christie's got junk in the trunk | The Daily <b>...</b>
Christie critics turn to weightiest issues when attacking governor.
Olbermann Suspension Helped Fox <b>News</b> | FrumForum
MSNBC isn't an impartial arbiter of news, at least not the sanctified area in which Olbermann, Ed Schultz, and Rachel Maddow inhabit. It never was. And you may not see flowing robes and white collars but they preach to the choir all the ...
eric seiger
JPMorgan Chase (JPM) kicks off earnings season for the financial sector ahead of Thursday's opening bell, and investors will be keen to see whether a pick-up in mergers and acquisitions has offset an industry-wide drop-off in trading activity.
The nation's second-biggest bank by assets behind fellow Dow component Bank of America (BAC) has received praise for the way it has navigated the credit crisis, but new financial regulations and months of low volatility and low volume are likely to mean a decline in trading revenue -- an area that has previous helped compensate for rising loses on bad loans.
At the same time, brisk business in capital markets and an increase mergers and acquisitions should help J.P. Morgan's investment banking revenue. Its mortgage business will also be in the spotlight, as investors and analysts look for any impact from the foreclosure crisis.
Wells Fargo (WFC) reported net income rose 3% to a record $3.34 billion in the third quarter, thanks to its merger with Wachovia, the bank said. Also, improving credit conditions managed to offset a 7% fall in revenue.
In the third quarter, Wells Fargo posted earnings of 60 cents per share, up from 56 cents for the same period last year. Analysts had expected earnings of 55 cents a share. "Record earnings in the third quarter reflect the success of the Wachovia merger and the benefits of Wells Fargo's steady commitment to our core business of helping customers succeed financially," said Chairman and CEO John Stumpf.
"Credit losses continued to trend down, with net charge-offs declining 9% linked quarter, and down $1.3 billion, or 24%, from the peak in fourth-quarter 2009," said Chief Financial Officer Howard Atkins. Provisions for credit losses dropped 44% from $6.11 billion last year to $3.45 billion.
The Big Question: Foreclosures
However, Well Fargo revenue declined 7% to $20.9 billion, compared to $22.5 billion in third-quarter 2009. That drop was due to smaller net debt and equity security gains, PCI (purchased credit impaired) loan resolution income and the impact from the overdraft regulation changes. Some businesses, though, generated double-digit annualized revenue growth, including asset management, mortgage banking, brokerage, commercial banking, commercial mortgage servicing, commercial real estate and debit card.
Still, if Bank of America's (BAC) earnings yesterday are any indication, what investors would really like to understand is how Wells Fargo is faring in regard to foreclosure and mortgage issues.
eric seiger
eric seiger
Arrowheadlines: Chiefs <b>News</b> 11/10 - Arrowhead Pride
Good morning Kansas City Chiefs fans! Another full day of news for you. DJ, Special Teams, Parity, and this Sunday's opponent wait below. Enjoy.
<b>News</b> Flash! Chris Christie's got junk in the trunk | The Daily <b>...</b>
Christie critics turn to weightiest issues when attacking governor.
Olbermann Suspension Helped Fox <b>News</b> | FrumForum
MSNBC isn't an impartial arbiter of news, at least not the sanctified area in which Olbermann, Ed Schultz, and Rachel Maddow inhabit. It never was. And you may not see flowing robes and white collars but they preach to the choir all the ...
eric seiger
eric seiger
Arrowheadlines: Chiefs <b>News</b> 11/10 - Arrowhead Pride
Good morning Kansas City Chiefs fans! Another full day of news for you. DJ, Special Teams, Parity, and this Sunday's opponent wait below. Enjoy.
<b>News</b> Flash! Chris Christie's got junk in the trunk | The Daily <b>...</b>
Christie critics turn to weightiest issues when attacking governor.
Olbermann Suspension Helped Fox <b>News</b> | FrumForum
MSNBC isn't an impartial arbiter of news, at least not the sanctified area in which Olbermann, Ed Schultz, and Rachel Maddow inhabit. It never was. And you may not see flowing robes and white collars but they preach to the choir all the ...
eric seiger
Arrowheadlines: Chiefs <b>News</b> 11/10 - Arrowhead Pride
Good morning Kansas City Chiefs fans! Another full day of news for you. DJ, Special Teams, Parity, and this Sunday's opponent wait below. Enjoy.
<b>News</b> Flash! Chris Christie's got junk in the trunk | The Daily <b>...</b>
Christie critics turn to weightiest issues when attacking governor.
Olbermann Suspension Helped Fox <b>News</b> | FrumForum
MSNBC isn't an impartial arbiter of news, at least not the sanctified area in which Olbermann, Ed Schultz, and Rachel Maddow inhabit. It never was. And you may not see flowing robes and white collars but they preach to the choir all the ...
eric seiger
Arrowheadlines: Chiefs <b>News</b> 11/10 - Arrowhead Pride
Good morning Kansas City Chiefs fans! Another full day of news for you. DJ, Special Teams, Parity, and this Sunday's opponent wait below. Enjoy.
<b>News</b> Flash! Chris Christie's got junk in the trunk | The Daily <b>...</b>
Christie critics turn to weightiest issues when attacking governor.
Olbermann Suspension Helped Fox <b>News</b> | FrumForum
MSNBC isn't an impartial arbiter of news, at least not the sanctified area in which Olbermann, Ed Schultz, and Rachel Maddow inhabit. It never was. And you may not see flowing robes and white collars but they preach to the choir all the ...
eric seiger eric seiger
eric seiger
eric seiger
eric seiger
Arrowheadlines: Chiefs <b>News</b> 11/10 - Arrowhead Pride
Good morning Kansas City Chiefs fans! Another full day of news for you. DJ, Special Teams, Parity, and this Sunday's opponent wait below. Enjoy.
<b>News</b> Flash! Chris Christie's got junk in the trunk | The Daily <b>...</b>
Christie critics turn to weightiest issues when attacking governor.
Olbermann Suspension Helped Fox <b>News</b> | FrumForum
MSNBC isn't an impartial arbiter of news, at least not the sanctified area in which Olbermann, Ed Schultz, and Rachel Maddow inhabit. It never was. And you may not see flowing robes and white collars but they preach to the choir all the ...
If you want to be financially independent, you will need to have some sort of investment income to provide for yourself. This way you will not have money coming in that you do not have to go to work for. One of the two good ways to do this is real-estate, the other being mutual funds. If you invest in real-estate and do it right, it can be a very profitable and exciting adventure, but if you do it wrong, you can get yourself in a huge mess. Here some suggestions if you are interested in beginning to do some sort of real-estate investing.
The first thing that you need to know is what not to do. Do not even consider getting a tape-set from an overnight cable program. They will teach you information about real-estate which looks very good on paper, but does not work in reality. Let's stop a second and think. If investing in real-estate was so easy and profitable, why are they selling tape-sets on midnight cable shows instead of being real-estate investors? It doesn't make any sense. It's just not as easy as it might look when presented on an overnight cable show. They do not have any unique insight on real-estate investing, so stay away from these programs.
One of the many things that the over-night cable television shows and many beginning real-estate investors fall into is leveraging themselves to death. They buy homes on 100% down plans, have zero equity, and own way too many properties. These plans might work out if everything worked exactly perfect. Ideal projections and reality are almost always two different things. You never know what kind of unexpected repairs your rentals will need or if a renter does not happen to pay. Something could always happen, and it usually does. Once one or two renters quit paying, the landlord will be in foreclosure. Once one of the homes goes in foreclosure, it works in a domino like manner. Eventually all of their rentals are in foreclosure and the only option is bankruptcy.
So we know that borrowing too much money and listening to overnight cable programs do not work. So what does work? You have to move very slowly and borrow as little money as possible to be around in the real estate business for a long period of time. Money on the home is made at the buy, you need to look over dozens of homes just to buy one which is a really big bargain. You need to avoid debt as much as possible and keep cash on hand so you can survive if a renter doesn't pay, or some other emergency does not happen.
If you want to do really well, talk to someone who is in another real-estate market that has been around for at least 20 years. Take them out to a very nice dinner and ask them a lot of questions. Bring a yellow pad and soak up their information. Their wisdom over one lunch period will do you far better than any cable program.
eric seiger
Arrowheadlines: Chiefs <b>News</b> 11/10 - Arrowhead Pride
Good morning Kansas City Chiefs fans! Another full day of news for you. DJ, Special Teams, Parity, and this Sunday's opponent wait below. Enjoy.
<b>News</b> Flash! Chris Christie's got junk in the trunk | The Daily <b>...</b>
Christie critics turn to weightiest issues when attacking governor.
Olbermann Suspension Helped Fox <b>News</b> | FrumForum
MSNBC isn't an impartial arbiter of news, at least not the sanctified area in which Olbermann, Ed Schultz, and Rachel Maddow inhabit. It never was. And you may not see flowing robes and white collars but they preach to the choir all the ...
eric seiger
Arrowheadlines: Chiefs <b>News</b> 11/10 - Arrowhead Pride
Good morning Kansas City Chiefs fans! Another full day of news for you. DJ, Special Teams, Parity, and this Sunday's opponent wait below. Enjoy.
<b>News</b> Flash! Chris Christie's got junk in the trunk | The Daily <b>...</b>
Christie critics turn to weightiest issues when attacking governor.
Olbermann Suspension Helped Fox <b>News</b> | FrumForum
MSNBC isn't an impartial arbiter of news, at least not the sanctified area in which Olbermann, Ed Schultz, and Rachel Maddow inhabit. It never was. And you may not see flowing robes and white collars but they preach to the choir all the ...
eric seiger
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