JPMorgan Chase kicks off earnings season for financials tomorrow as the bank prepares to release its Q3 results before the opening bell.
Wall Street analysts expect the bank to post $1.199 adjusted EPS on revenue of $24.526 billion, according to data compiled by Bloomberg.
Here are some key things we’ll be listening for during the conference call:
- An update on the “London Whale” trading loss. In the first two quarters of 2012, JPMorgan disclosed that it lost $5.8 billion from the so-called “London Whale” trade in the bank’s CIO office in London related to derivatives.
- Any comments on the civil lawsuit filed against JPMorgan last week by New York Attorney General Eric Schneiderman alleging the Bear Stearns unit the bank acquired in 2008 defrauded mortgage bond investors. Yesterday, at the Council on Foreign Relations Dimon said JPMorgan did the U.S. government a “favour” by taking over Bear Stearns.
- CFO Doug Braunstein is said to step down from his post and move to a different part of the bank in the next couple of quarters, the Wall Street Journal first reported. We’ll be listening in on the conference call with Braunstein to see if any successor plans are going to be disclosed yet.
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