Bank Companies Succeed Despite Global Economy Concerns
The Paragon Report Provides Stock Research on JPMorgan Chase & Co. and Bank of America Corp.
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 03/26/12 -- Banking stocks have performed strong of late. The SPDR S&P Bank ETF (KBE) is up roughly 9 percent over the last month. Earlier this month Guggenheim argued that large-cap U.S. banks could gain another 20 percent throughout the next year despite the sector's sharp rebound during the past four months. The Paragon Report examines the outlook for companies in the banking industry and provides equity research on JPMorgan Chase & Co. (NYSE: JPM) and Bank of America Corp. (NYSE: BAC).
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Last week Federal Reserve Chairman Ben Bernanke told a congressional panel that U.S. banks could withstand shocks from Europe, even if the debt crisis overseas significantly worsened. "Although a blow-up in Europe would be very costly to the American economy, I think we are in much better shape to meet those challenges than we were a few years ago," Bernanke said to the committee.
Bernanke said U.S. banks have had time to adjust their exposures and hedge their risks. However, Bernanke said that roughly 35 percent of assets in U.S. prime money market funds are European holdings.
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JPMorgan Chase & Co. has recently hired Hong Kong-based Johan Sudiman, a former director of the distressed loans desk at Deutsche Bank AG, to help drive its loans trading business, said two people familiar with the matter who declined to be identified because the details are private.
Bank of America Corp. recently announced a number of new online and mobile capabilities for its Merrill Edge customers. These new capabilities include a Merrill Edge Android application, remote check deposit functionality for iPhones, bill-pay functionality for iPads and a new Investment Product Education Center.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at
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Datum: 26.03.2012 - 12:20 Uhr
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