JPMorgan Chase & Company (JPM) is in discussions to take full control of its U.K. joint-venture partner, Cazenove Group, for about £1 billion ($1.7 billion).   JPMorgan entered into a partnership with Cazenove five years ago. At that time, JPMorgan paid about £100 million for a 50% ownership in Cazenove.   Now, JPMorgan intends to buy the remaining 50% of the investment-banking partnership for 500−525 pence per share.   Chief Executive Naguib Kheraj, the former finance chief of Barclays PLC (BCS) is running JPMorgan Cazenove since last year. Cazenove first became one of London's leading stockbrokers in the mid-1930s.   Deciding on the full acquisition of Cazenove has been crucial for Jamie Dimon, CEO of JPMorgan. Dimon organized a similar purchase of the bank’s remaining stake in Highbridge Capital Management this year.   In the last few years, JPMorgan has been able to maintain its top ...

For Immediate Release

Chicago, IL – November 16, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Nordstrom Inc. (JWN), Abercrombie & Fitch Co. (ANF), The Walt Disney Company (DIS), Wells Fargo & Company (WFC) and Bank of America Corporation (BAC).

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Here are highlights from Friday’s Analyst Blog:

Nordstrom Ups Guidance, Post-Beat

High-end retailer Nordstrom Inc. (JWN) has reported strong third quarter 2009 results with net income of $83 million or 38 cents per share compared to $71 million or 33 cents per share in the year-earlier

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On Thursday, the Federal Reserve finally announced rules that will prohibit banks from charging overdraft fees at ATMs and one-time debit card transactions without the consent of customers. The rules, which will be effective July 1, 2010, appear in response to growing consumer dissatisfaction with the overdraft charges that they often do not realize until they receive their monthly statement. Banks previously added overdraft protection automatically to most accounts regardless of the amount that was withdrawn. According to the new regulations, consumers must be given a notice explaining a financial institution's overdraft services, including an explanation of the fees associated with the services. The Federal Reserve took this decision primarily based on its investigation which showed that banking customers only want overdraft services if they know the details of what is required. However, some consumers do want overdraft protection services to make sure that some time-sensitive ...

According to an internal memo to all employees, JPMorgan Chase & Company (JPM) will lift a salary freeze it put in place last year. The salary freeze was applicable for employees making more than $60,000 a year. The decision to lift the salary freeze is a part of JPMorgan’s compensation review process, following its profits for last several quarters in its investment-banking operations.   The bank also intends to pay a $500 special award globally to employees who receive less than $60,000 a year.   Additionally, the bank also plans to add more than 300 staff to its branches to support a $4 billion increase in small business lending in an effort to help revive the U.S economy. Also, to boost new loans and refinancing, JPMorgan will hire 1,200 mortgage loan officers by the end of 2010. This addition will increase the company’s sales force by approximately ...

For Immediate Release

Chicago, IL – November 11, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Enzon (ENZN), Merck (MRK), OSI Pharmaceuticals (OSIP), Pfizer (PFE) and Bank of America Corporation (BAC).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513

Here are highlights from Tuesday’s Analyst Blog:

Enzon Beats, Announces Sell-off

Enzon (ENZN) achieved break-even earnings during the third quarter of 2009, better than the Zacks Consensus Estimate of loss of 7 cents but below the year-ago earnings of 1 cent. The company reported revenues of $44.6 million, a decline of 9% compared to $48.8

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For Immediate Release

Chicago, IL – October 22, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Eli Lilly & Co. (LLY), Wells Fargo (WFC), Bank of America Corporation (BAC), Citigroup, Inc. (C) and JPMorgan Chase & Co. (JPM).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513

Here are highlights from Wednesday’s AnalystBlog:

Eli Lilly Beats, Raises Guidance

This morning, Eli Lilly & Co. (LLY) reported strong third quarter financials. The company’s earnings per share of $1.20 surpassed the Zacks Consensus Estimate of $1.02 and 98 cents reported in the year-ago period. Revenues recorded a

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Before the market opened this morning, Wells Fargo (WFC) reported third quarter 2009 diluted earnings of 56 cents per common share, compared with 57 cents in the second quarter 2009 and 49 cents in the third quarter 2008. Net income applicable to common shareholders came in at $2.6 billion, almost flat compared with the prior quarter and up 61.1% year-over-year. The results were substantially ahead of the Zacks Consensus Estimate of 35 cents per share. Results were aided by strong top-line growth across all key business segments, strong deposits and a robust loan growth rate. Unlike its major peers, Wells Fargo witnessed strong growth in its traditional banking operations, especially in its mortgage business acquired from Wachovia. Net interest income of $11.7 billion climbed 83.1% year-over-year. However, credit quality deteriorated further and losses rose sharply during the quarter. The bank expects credit losses and non-performing ...

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Tuesday October 20, 2009

DrStockPick.com Stock Report!

BAC, PSFT, PWRM, SO, CSRH, NYX, CVAT, ATVI, AQNM

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BAC, Bank of America Corporation

BAC is one of the world’s largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.

BAC today announced a strategic alliance with Avjet Corporation, a leading aviation services provider based in Southern California, providing preferred financing terms for clients who finance their aircraft through BAC and take advantage of the business aircraft management services of Avjet.

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PSFT, Powersafe Technology Corp., PSFT.PK

POWERSAFE

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Citigroup Inc. (C) could be compelled to sell its profitable and highly rated Mexican subsidiary Banamex due to a probe expected this week by Mexico’s Supreme Court. A group of senators has objected that Citigroup’s Mexican subsidiary is in breach of national law since the US government bail-out of the company. National law of Mexico bans foreign governments from owning a stake in domestic banks. Banamex, or Banco Nacional de Mexico, is one of Citigroup's brightest jewels, and accounts for over $20 billion, or 15% of its global profits. A number of other foreign-dominated banks operating in Mexico also remain exposed to the same risk, as many foreign governments own stake in them following the global financial crisis. These banks include American International Group, Inc. (AIG), Bank of America Corporation (BAC) and Bank of New York Mellon Corporation (BK), as well as ...

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Monday October 19, 2009

DrStockPick.com Stock Report!

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Prudential Annuities has won two top awards in the Boomer Market Advisor Readers’ Choice Awards. This is the fifth consecutive year one of Prudential Annuities’ living benefits has been recognized as “best in class.” Prudential Financial Inc.’s (NYSE:PRU) domestic annuity business also earned a first-time award for its service and support to advisors.

Lockheed Martin Corp. (NYSE: LMT) received an $827.4 million contract from the Air Force for advanced funding for 11 variants of the C-130J, a military

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