J.P. Morgan trims EPS outlook for several banks

Discussion in 'Stocks' started by ASusilovic, May 1, 2009.

  1. NEW YORK (MarketWatch) -- Analysts at J.P. Morgan Chase on Friday trimmed their 2009 and 2010 earnings estimates for several large banks, citing higher credit costs, lower net interest income and falling fee income reflected in first quarter earnings results.


    "We expect credit deterioration to persist led by rising unemployment and continued sharp declines in home prices. Credit losses are likely to increase and loan loss reserve build likely to continue, notably in credit cards, residential real estate, and construction loans near-term and commercial and industrial and commercial real estate loans medium-term," they said in a report published Friday.


    LOL ! Followed by surprising positive "EPS" adaptions in the next quarter !