The stock price of JP Morgan Chase & Co. [linkme to=”JPM”] has gone up by over 0.54% today till the late morning trading session. Since the open on last Friday, the stock has risen by over 2.02%. The stock closed at $68.79 on Tuesday.
The New York based is a multinational banking and financial services holding company. It is the largest bank in the United States, the world’s sixth largest bank by total assets, with total assets of US$2.35 trillion, and the world’s most valuable bank by market capitalization. It is a major provider of financial services, and according to Forbes magazine is the world’s sixth largest public company based upon a composite ranking. The hedge fund unit of JPMorgan Chase is the second largest hedge fund in the United States. The company was formed in 2000, when Chase Manhattan Corporation merged with J.P. Morgan & Co.
With $2.5 trillion worth of assets on its balance sheet, JP Morgan Chase is the biggest bank in America. This gives it the resources needed to stay on the cutting edge of the financial services industry, which is under assault right now from financial technology companies.
JP Morgan Chase’s heft also offers economies of scale – the bigger a company is, the easier it is to operate efficiently. In the third quarter of this year, JP Morgan Chase’s operating expenses consumed 59% of its net revenue. Most other banks tend to spend well over 60% of their revenue operating their businesses.
Sources have reported that the staff at US investment bank JP Morgan can no longer access the online version of the Financial Times on work computers, the bank confirmed on Wednesday, citing the desire to “avoid a potential copyright concern.” Bankers have been blocked from accessing the site since last week.
Staff can still use their own personal devices to access FT articles, but can only do so if “they respect intellectual property rights outlined in our Code of Conduct,” the statement added. It is unclear exactly what the “potential copyright concern” regards, although Paul Murphy, the founding editor of the FT’s Alphaville blog wrote: “Well, no – it’s not a copyright row – it’s because they were sharing FT content around the JPM buildings, but not paying for a license.” “Journalism costs money,” he added.[adv_smv1 link=”2″]
The Financial Times declined to comment on the matter. The story was first reported on Twitter. The FT has a heavily pay walled online product, with group online subscriptions costing £336 ($410.57) per person, according to its website. On an individual basis, a premium digital subscription costs £7.75 ($9.47) per week, equivalent to £403 ($492.44) annually. Without a subscription, readers can only access a tiny proportion of the FT’s content.
Our analysts have given a “HOLD” rating to JP Morgan Chase & Co. ‘s stock. Today’s rise indicates a positive response from the market which has been slowly building up for the past few days. However, dude to the weekly fluctuation, buying it at this moment might be risky.