JPMorgan's Recent AI Hosting Deal, Hear From Crypto Experts Silbert, Peirce, and Brooks

The National Association of Broadcasters Leadership Foundation (NABLF) today announced JPMorgan Chase as the recipient of the 2023 Corporate Leadership Award. The award will be given during the 2023 Celebration of Service to America Awards, presented by Bonneville International and Hearst Television and held in Washington, D.C., on June 6 at The Anthem.

A large amount of wind, much discussion about the U.S healthcare, and the public getting soaked again – if you were thinking about Washington, DC and the new Congress, you’re 3,000 miles away from the action. This is the week of the annual JP Morgan Healthcare conference in San Francisco, with many thousands of healthcare...… Continue Reading

Day 3 of the JPMorgan healthcare conference was one of striking contrasts between the old and the new. (And, by the way, the rain finally stopped for a day, but it will be back tomorrow to finish off the last day of the conference). The Old:  Sitting in the Community Health Systems (CHS) presentation and...… Continue Reading

Some interesting presentations on the last day of the JPMorgan Healthcare Conference that concentrated on common themes – the increasing importance of ancillary business line to bolster core business revenue and of filling in holes to achieve scale and full-service offerings. Genesis Healthcare – The largest U.S. skilled nursing facility (SNF) provider, which also is...… Continue Reading

Restructuring adviser Miller Buckfire & Co. is growing its bankruptcy and restructuring practice once again after prominent bankers departed about two years ago.

(Bloomberg) -- Wall Street’s biggest firms are divided on where markets are heading to next.While most risk assets are well off their mid-March lows, when uncertainty about the global impact of the coronavirus outbreak was at its peak, there is little consensus on what is to follow. At the core of the debate is the long-term effectiveness of the massive stimulus from central banks and governments.When $8 Trillion in Global Fiscal Stimulus Still Isn’t EnoughCitigroup Inc., for one, doesn’t get the “puzzling” rise in stocks.“Extensive policy response, led by ample liquidity provided by central banks, likely contributed to the move in the markets,” economists including Igor Cesarec and Catherine Mann wrote in a note Thursday. “However, since it is not clear that markets can be propped up indefinitely, caution is warranted. Risk assets could be fragile once the cold, hard economic reality hits again.”On the other hand, JPMorgan Chase & Co. sees the stock market advance as justified -- and one which can continue.“While the collapse in economic activity is historic, so too is the global policy response to cushion the impact and support a recovery,” strategists led by Marko Kolanovic wrote in a note Thursday. “We expect risky assets to continue to recover as economies reopen and given the unprecedented policy support, though we expect a moderation in the pace of gains.”Read about JPMorgan’s call in late March that markets were probably past the worst.The MSCI AC World Index has climbed about 25% since March 23 as investor sentiment warmed toward a slew of worldwide policy measures to offset the economic impact of the pandemic. The global gauge had fallen as much as 34% from its February high, when concerns about the virus reached a peak.Looking ForwardGoldman Sachs Group Inc. and Morgan Stanley largely see gains remaining intact, with caveats.Goldman attributes the market rise to a stabilization in virus infection rates and an improvement in measures of funding and liquidity stress. The firm has already said that equities price in macroeconomic performance over a two-year time horizon and investors may look past huge economic damage.“Markets will continue to look through bad news about the depth of the economic downturn if they can continue to hold on to their view that a sizable chunk of the recent damage will be reversed by the end of next year,” strategists including Zach Pandl wrote in a note Tuesday.And Morgan Stanley is also comfortable with the disparity between asset price performance and fundamentals, noting that markets tend to lead the economy and care more about rate of changes than absolute levels.“Divergences between the market and economy are common at economic extremes,” wrote strategists including Andrew Sheets in a note Thursday. “Rate of change is key – a ‘U’ shaped recovery is fine, a ‘W’ is not.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

Investors are still uncertain just where the stock market is headed. Essentially, there are two competing opinions right now. One says that we’re just in a bear market rally, and that the worst is yet to come. The other thesis states that the current rally is real, and will mature into a new bull cycle as the economy restarts in the second half.Writing from JPMorgan, Marko Kolanovic, the investment bank's quant analyst, holds fast to that optimistic view. Kolanovic believes that epidemiological data suggests we are past the worst of the coronavirus spread, justifying the lifting of social and business restrictions. And that will open up economic activity, which will then find stimulus from low Fed interest rates and increased government ‘pump priming’ spending.Kolanovic sees the stimulus policies as more important than Q1’s weak earnings, writing, “The combined suppression of the risk free rate and credit spreads by the Fed likely has a bigger positive impact on equity valuation, compared with the negative impact of the temporary earnings loss.”Kolanovic is not the only JPM analyst who sees potential in the stock markets. The firm’s equity analysts have been working overtime to find the stocks best positioned to lead a potential bull rally. We’ve used the TipRanks database to pull up three of their stock picks, to find out why the JPM experts are tapping them for over 30% growth.KAR Auction Services (KAR)The first stock on our list belongs to a company in the second-hand vehicle market. KAR Auction Services operates a marketplace – both online and in the physical world – for used vehicles. The company sells to both individual and business buyers, people looking for a car to drive and garages looking to source parts for the shop floor. KAR sold over 3.7 million vehicles in 2019, bringing in $2.8 billion in auction revenue.KAR shares have been hit hard by the coronavirus epidemic. The combination of economic shutdowns and social lockdowns have not just put a hold on car sales – they have simply reduced the need for vehicles.Q1 earnings showed a 6% reduction in revenue, to $645.5 million, and a collapse in net income to $2.8 million from $15.3 million in the year-ago quarter. As noted, these steep reductions are attributable to the effects of the pandemic response. KAR shares are still down 38% year-to-date, badly underperforming the broader markets.However, JPM’s analyst Ryan Brinkman believes the current downturn is the time to buy in to KAR shares. The low price offers an attractive point of entry, and the stock has a clear path forward when economic activity resumes. Brinkman writes, “We believe that once stay-at-home orders are lifted and the situation moves from being one of a unique public health crisis to that of a more familiar economic downturn, aftermarket end-markets, including auctions, will earn their reputation for resiliency. People will drive again substantially similar to before, and volumes will return to salvage auctions.”Along with that optimistic assessment, Brinkman upgrades KAR from Neutral to Buy. His $19 price target suggests a strong 46% upside potential in the next 12 months. (To watch Brinkman’s track record, click here)Overall, KAR shares hold a Moderate Buy rating from the analyst consensus, which breaks down into 4 Buy reviews and 3 Holds. While the analyst corps is somewhat divided, their average price target is in line with Brinkman’s. (See KAR stock analysis at TipRanks)J2 Global Communications (JCOM)Next up is an internet communications company. J2 Global owns a diverse portfolio of 40+ online content brands, including IGN, Mashable, PCMag, BabyCenter, Everyday Health among others. In addition, J2 also runs a Cloud Service business, offering eFax and eVoice among other online services. The company boasts nearly $1.5 billion in annual revenue, and saw Q4 earnings rise to $2.19 per share.The Q4 earnings were the highest in two years, and capped a full year of rising earnings. Q4 is typically J2’s strongest quarter, while Q1 is typically the weakest, so the $1.35 estimate for Q1 earnings is less indicative of poor performance than one may think at first. On an important note, that Q1 estimate represents a modest increase of 1.5% year-over-year.JCOM shares’ price performance has roughly mirrored the broader market’s during the past three months. JCOM lost 35% in the initial slide, and has risen 21% from its trough.Initiating coverage of the stock for JPM, Cory Carpenter set a Buy rating, with a $105 price target that indicates room for 32% upside growth. (To watch Carpenter’s track record, click here)Supporting his stance, Carpenter notes the company’s strong Cloud position, writing, “We believe Cloud Services is well positioned to capitalize on growing security & privacy needs, with bundling & cross-sell potential, and we like that Digital Media monetizes through multiple rents—ads, subs, & affiliate commerce.”Key drivers for Carpenter's bull thesis include: "1) Total growth strategy drives sustainable growth, with $1B+ capital to deploy [...] 2) Diversified portfolio of leading Cloud Services & Digital Media brands. [...] 3) Strong FCF generator with M&A flywheel. JCOM prioritizes FCF, not growth at all costs, which it largely redeploys into M&A. JCOM’s 40% EBITDA margin is driven by Cloud Services’ ~50% margin and Digital Media’s ~35% margin."Carpenter is broadly in line with the rest of Wall Street, which has assigned JCOM more "buy" ratings than "holds" over the past three month -- and sees the stock growing about 26% over the next 12 months, to a target price of $101.30. (See J2 Global stock analysis on TipRanks)Montage Resources Corporation (MR)Last on our list is a small-cap hydrocarbon exploration and production company. Montage is based in the Appalachian region of Pennsylvania, Ohio, and West Virginia, where it operates natural gas and crude oil drilling wells. Montage holds over 195,000 undeveloped core acres, and operates 325 actively producing horizontal wells. The value of the company’s holdings is clear from its stock performance; in the last three months, while the markets have generally slid into a bear cycle, MR shares have gained 55%.Even with the COVID-19 epidemic and the collapse of oil markets, MR was able to increase its net daily production during Q1, reaching 6610.7 MMcfe. This was above both company guidance and analyst estimates. Quarterly income of $62.7 million also beat the expectations. The company has curtailed some production in low-margin crude oil, to compensate for the soft oil market prices.Analyst Arun Jayaram, reviewing MR for JPM, upgraded his stance on the shares from Neutral to Buy. His $8 price target implies a 43% upside growth potential for the coming year. (To watch Jayaram’s track record, click here)Jayaram is clear on his reasons for upgrading this stock. He says of MR, “We expect the market to largely look through negative estimate revision risk to 2020 forecasts to the emerging bullish natural gas narrative in 2021… Meanwhile, the company’s FCF yield of 23% leads the peer group and is well above the peer group average of 10%...”The Strong Buy analyst consensus on MR shares is based on 5 recent reviews, including 4 Buys and a single Hold. The company’s strong natural gas production is tangible asset, and its enviable free cash flow is attractive for investors. Shares are selling for $5.59, while the average price target of $6.22 suggests a modest upside of 1.6%. (See MR stock analysis at TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

(United States Second Circuit) - Held that a torture victim who had obtained a court judgment against a terrorist organization was not entitled to attach funds from the organization's blocked electronic fund transfers. The torture victim wanted several banks to turn over $36 million to him in order to satisfy a court judgment he had obtained against the terrorist organization in a U.S. court. In a 2-1 decision affirming the district court, the Second Circuit held that the punitively sanctioned organization's blocked assets were not subject to attachment.

(NY Supreme Court) - 2017–04429 2018–04808 Index No. 4054/13

(United States Fifth Circuit) - Held that the district court "appears to have erred" in ordering that thousands of current and former employees be notified of a pending Fair Labor Standards Act collective action, because most of them had signed binding arbitration agreements and would be unable to join the action. However, the district court's apparent error in directing the notice did not justify granting the employer's petition for mandamus relief -- but the district court was advised to reconsider its ruling.

A year ago this month the U.S. Department of Justice announced that the banking giant JPMorgan Chase would avoid criminal charges by agreeing to pay $13 billion to settle claims that it had routinely overstated the quality of mortgages it … Continue reading →

A reversal of fortunes within the financial industry is illustrated in few places more vividly than JPMorgan Chase.

JPMorgan Chase &s role in anticompetitive activity in the municipal bond investments market and has agreed to pay a total of $228 million in restitution, penalties and disgorgement to federal and state agencies.

U.S. Attorney General Eric Holder, U.S. Attorney for the Southern District of New York Preet Bharara and Assistant Director-in-Charge of the FBI’s New York Field Office George Venizelos announced the unsealing of criminal complaints against Javier Martin-Artajo and Julien Grout for their alleged participation in a conspiracy to hide the true extent of losses in a credit derivatives trading portfolio maintained by the Chief Investment Office (CIO) of JPMorgan Chase & Company (JPMorgan). Martin-Artajo served as a Managing Director and Head of Credit and Equity Trading for the CIO, and Grout was a Vice President and derivatives trader in the CIO.

The Justice Department, along with federal and state partners, today announced a $13 billion settlement with JPMorgan - the largest settlement with a single entity in American history - to resolve federal and state civil claims arising out of the packaging, marketing, sale and issuance of residential mortgage-backed securities (RMBS) by JPMorgan, Bear Stearns and Washington Mutual prior to Jan. 1, 2009. As part of the settlement, JPMorgan acknowledged it made serious misrepresentations to the public - including the investing public - about numerous RMBS transactions. The resolution also requires JPMorgan to provide much needed relief to underwater homeowners and potential homebuyers, including those in distressed areas of the country. The settlement does not absolve JPMorgan or its employees from facing any possible criminal charges.

The Department of Justice today announced that JPMorgan Chase (JPMC) will pay $614 million for violating the False Claims Act by knowingly originating and underwriting non-compliant mortgage loans submitted for insurance coverage and guarantees by the Department of Housing and Urban Development’s (HUD) Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA).

A large amount of wind, much discussion about the U.S healthcare, and the public getting soaked again – if you were thinking about Washington, DC and the new Congress, you’re 3,000 miles away from the action. This is the week of the annual JP Morgan Healthcare conference in San Francisco, with many thousands of healthcare...… Continue Reading

Day 3 of the JPMorgan healthcare conference was one of striking contrasts between the old and the new. (And, by the way, the rain finally stopped for a day, but it will be back tomorrow to finish off the last day of the conference). The Old:  Sitting in the Community Health Systems (CHS) presentation and...… Continue Reading

Some interesting presentations on the last day of the JPMorgan Healthcare Conference that concentrated on common themes – the increasing importance of ancillary business line to bolster core business revenue and of filling in holes to achieve scale and full-service offerings. Genesis Healthcare – The largest U.S. skilled nursing facility (SNF) provider, which also is...… Continue Reading

With the world already reeling from the economic impact of the coronavirus pandemic, a reignition in U.S.-China trade tensions would be the "the last thing" anyone needs, according to JPMorgan Asset Management's Alexander Treves.

Investors should be prepared for a potential stock market relapse and that they are not solely invested in the United States, says David Kelly, chief global strategist for JPMorgan Asset Management. He suggests exploring countries in East Asia, which will likely exit the coronavirus crisis faster than Europe or the U.S.

"Mad Money" host Jim Cramer rings the lightning round bell, which means he's giving his answers to callers' stock questions at rapid speed.

Jim Cramer gets a preview of J.P. Morgan's upcoming health-care conference with the firm's top health-care analyst, Lisa Gill.

The Fast Money traders offer up their final trades of the week.

Crown Equity Holdings Inc....