JPMorgan Reports Solid Second-Quarter Results Despite Cautionary Economic and Competitive Signs
Narrow-moat JPMorgan Chase reported solid second-quarter results with net income on a reported basis increasing 18% to $8.3 billion, or $2.29 per diluted share, compared with $7 billion a year ago. Despite increasing concerns about global trade policies and a flattish U.S. interest rate yield curve, the underlying economy is still healthy and the company generated a return on equity of 14% and return on tangible common equity of 17% during the quarter. Coinciding with the release of 2018 Compreh...JPMorgan Chase is a financial holding company. Through its subsidiaries, the company's segments include: Consumer and Community Banking, which provides services through bank branches, ATMs, digital (including mobile and online) and telephone banking; Corporate and Investment Bank, which consists of Banking and Markets and Securities Services, provides a suite of investment banking, market-making, prime brokerage, and treasury and securities products and services; Commercial Banking, which provides financial solutions, including lending, treasury services, investment banking and asset management products; and Asset and Wealth Management, which is engaged in investment and wealth management.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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