The New York-based JPMorgan Chase & Co’s (NYSE:JPM) $2 billion trading loss in its chief investment office was a key factor in Moody’s Investors Service’s verdict to lower the lender’s standalone credit mark by 3 levels.
The ratings company reported in a statement that JPMorgan was among 15 worldwide banks faced rating cut on Thursday and one of the three strongest evaluated by Moody’s Corporation (NYSE:MCO). Moody’s reported that the financial company standalone assessment moved down to a3 from aa3 and would have been even lesser without implicit support from the federal government.
Moody’s stated that it shows the challenges of monitoring and managing risk in a complex worldwide organization and underlines the opacity of such risks.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Citigroup Inc (NYSE:C) plunged -3.57% to settle at $27.83, Goldman Sachs Group, Inc. (NYSE:GS) moved down -2.74% to end at $93.90 while KeyCorp (NYSE:KEY) decreased -2.23% to finish on Thursday at $7.47.
JPMorgan Chase & Co (NYSE:JPM) on June 21, 2012 it decreased -2.58% to the closing price of $35.51. The overall volume in the last trading session was 49.93 million shares. Its fifty two week range was $27.85-$46.49. The total market capitalization remained $135.17 billion.
JPM is ahead its 52 week low with +29.26% and lagging behind from its 52 week high price with -23.12%. JPM last month stock price volatility remained 3.10%. In its share capital JPM has 3.81 billion outstanding shares among them 3.79 billion shares have been floated in market exchange. JPM stock institutional ownership remained 74.69% while insider ownership included 0.17%.
The stock price of JPM is moving forward from its 20 days moving average with +5.53% and remote negatively from 50 days moving average with -6.33%. JPM current year earnings per share experienced an addition with +13.05% while its current quarter performance remained -19.95%. Company’s beta coefficient included 1.33. Beta factors measures the amount of market risk associated with market trade.
DO NOT TRADE ANY STOCK WITHOUT LEVEL 2 STOCK QUOTES! QuoteDaddy.com delivers it's user with the most in-depth Level 2 Quotation System available on the Planet! NO Downloads, NO Widgets, NO Plugins required! Stay on TOP of your trades with QuoteDaddy.com! CLICK HERE TO START YOUR FREE 30-DAY TRIAL