JP Morgan (JPM) Offering Possible 60.77% Return Over the Next 14 Calendar Days

JP Morgan's most recent trend suggests a bullish bias. One trading opportunity on JP Morgan is a Bull Put Spread using a strike $121.00 short put and a strike $116.00 long put offers a potential 60.77% return on risk over the next 14 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $121.00 by expiration. The full premium credit of $1.89 would be kept by the premium seller. The risk of $3.11 would be incurred if the stock dropped below the $116.00 long put strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for JP Morgan is bearish and the probability of a decline in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for JP Morgan is bullish.

The RSI indicator is at 63.42 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here

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LATEST NEWS for JP Morgan

SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in JPMorgan Chase & Co. of Class Action Lawsuit and Upcoming Deadline – JPM
Thu, 03 Dec 2020 09:55:00 +0000
Pomerantz LLP announces that a class action lawsuit has been filed against JPMorgan Chase & Co. (“JPMorgan” or the “Company”) (NYSE: JPM) and certain of its officers. The class action, filed in United States District Court for the Eastern District of New York, and docketed under 20-cv-05590, is on behalf of a class consisting of all persons other than Defendants who purchased or otherwise acquired JPMorgan securities between February 23, 2016 and September 23, 2020, inclusive (the “Class Period”). Plaintiff seeks to recover compensable damages caused by Defendants' violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act”).

JPMorgan Agrees To Acquire Tax-Smart Fintech Startup 55ip
Thu, 03 Dec 2020 05:38:41 +0000
JPMorgan Chase & Co's (NYSE: JPM) asset management division will acquire fintech company 55ip LLC under a definitive agreement. The terms of the deal haven't been disclosed.What Happened: Post-acquisition, 55ip will continue to function as a unique entity under its brand and offer dedicated services to its existing clientele, the two companies said in a statement.The Boston, Massachusetts-headquartered 55ip's automated technology, ActiveTax, enables financial advisors with a tax-smart investment strategy solution, which can be implemented at scale. Some of the services offered include systematic tax-loss harvesting, tax-smart trading, and client reporting.”Automating sophisticated strategies while also allowing for customization for tax and individual preferences is a differentiator and will be a key driver of success,” JPMorgan Asset Management Solutions' Global Head Jed Laskowitz said, talking about 55ip's potential.Why Does It Matter: According to Crunchbase, 55ip raised $10 million in a Series A financing in April 2017. At the time, the tax-focused fintech firm was estimated to have a post-money valuation between $10 million to $50 million, reports CrunchBase, based on research from PrivCo.55ip noted that the total addressable market for asset manager and third-party strategist models is estimated to be around $3.6 trillion as per Cerulli Associates. The acquisition could result in the increased use of 55ip's fintech by asset managers and wealth managers, a key indicator of growth.Paul Gamble, 55ip CEO, commented that “Joining forces with J.P. Morgan will provide greater resources for our current clients and enterprise partners, accelerate our innovation and broaden access to our solutions.”JPMorgan CEO Jamie Dimon said in February, earlier this year, that the bank was on a hunt for big acquisitions and would be “much more aggressive” going forward, CNBC reported at the time.Price Action: At the end of Wednesday's trading hours, JPM stock was $122.04 per share with a 1.97% uptick.See more from Benzinga * Click here for options trades from Benzinga * JPMorgan Recommends Alternative Investment Strategies In Post-Pandemic Era * Roblox Files For NYSE IPO As Userbase Grows 82% In 2020(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Georgia Republican reportedly flipped shares of anti-malware company dozens of times while serving on Senate’s cybersecurity subcommittee
Wed, 02 Dec 2020 23:42:00 +0000
With control of the United States Senate hanging in the balance ahead of the Jan. 5 runoff elections in Georgia, Republican incumbent David Perdue's penchant for flipping stocks is becoming an increasingly thorny issue.

Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Las Vegas Sands, Innate Pharma, JPMorgan, and First American Financial and Encourages Investors to Contact the Firm
Wed, 02 Dec 2020 23:00:00 +0000
NEW YORK, Dec. 02, 2020 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Las Vegas Sands Corporation (NYSE: LVS), Innate Pharma S.A. (NASDAQ: IPHA), JPMorgan Chase & Co. (NYSE: JPM), and First American Financial Corporation (NYSE: FAF). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided. Las Vegas Sands Corporation (NYSE: LVS) Class Period: February 27, 2016 to September 15, 2020Lead Plaintiff Deadline: December 21, 2020Las Vegas Sands was founded in 1988 and is based in Las Vegas, Nevada. The Company, together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the U.S., which offer various amenities.Las Vegas Sands’ properties include, among others, the Marina Bay Sands resort in Singapore, which operates a casino.On July 19, 2020, Bloomberg News reported that Las Vegas Sands had settled a lawsuit brought by a former patron, Wang Xi (“Xi”), meeting his demand for a S$9.1 million ($6.5 million) payment. Xi reportedly sued the Marina Bay Sands casino in 2019 to recover S$9.1 million of his funds that the casino allegedly transferred to other patrons from his casino deposit accounts in 2015 without his approval, which triggered a probe into the casino by local authorities. Bloomberg News also reported that the U.S. Department of Justice (“DOJ”) “is also scrutinizing whether anti-money laundering procedures had been breached in the way the Singapore casino handles high rollers.”On this news, Las Vegas Sands’ stock price fell $1.41 per share, or 2.9%, to close at $47.28 per share on July 20, 2020.Then, on September 16, 2020, Bloomberg reported that Marina Bay Sands “has hired a law firm to conduct a new investigation into employee transfers of more than $1 billion in gamblers’ money to third parties[.]” The article quoted the Singapore Casino Regulatory Authority (“CRA”) as stating that “there were weaknesses in [Marina Bay Sands’] casino control measures pertaining to fund transfers[.]”On this news, Las Vegas Sands’ stock price fell $2.18 per share, or 4.2%, to close at $49.67 per share on September 16, 2020.The complaint, filed on October 22, 2020, alleges that throughout the Class Period defendants made materially false and misleading statements regarding the Company’s business, operational, and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) weaknesses existed in Marina Bay Sands’ casino control measures pertaining to fund transfers; (ii) the Marina Bay Sands’ casino was consequently prone to illicit fund transfers that implicated, among other issues, the transfer of customer funds to unauthorized persons and potential breaches in the Company’s anti-money laundering procedures; (iii) the foregoing foreseeably increased the risk of litigation against the Company, as well as investigation and increased oversight by regulatory authorities; (iv) Las Vegas Sands had inadequate disclosure controls and procedures; (v) consequently, all the foregoing issues were untimely disclosed; and (vi) as a result, the Company’s public statements were materially false and misleading at all relevant times.For more information on the Las Vegas Sands class action go to: https://bespc.com/cases/LVSInnate Pharma S.A. (NASDAQ: IPHA)Class Period: March 10, 2020 to September 8, 2020Lead Plaintiff Deadline: December 22, 2020On September 8, 2020, the Company submitted to the SEC a Form 6-K containing a press release summarizing the results of the first half of 2020, ended June 30, 2020 (the “1H2020 Results”). In the 1H2020 Results, defendants abruptly announced a change in the long-touted payment scheme with AstraZeneca.On this news, Innate’s American Depositary Share (“ADS”) prices dropped $1.62, or over 26.6%, from closing at $6.07 on September 4, 2020, the previous trading day, to open at $4.82 on September 8, 2020, and declined throughout the trading day to close at $4.45.The complaint, filed on October 23, 2020, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Innate touted the results of their various Phase 2 trials as being within expectations; (2) Innate continued to reassure investors that they were eligible for the $100 million payment upon first dosing of Phase 3 trials; (3) Innate failed to timely disclose their renegotiations with AstraZeneca to split the $100 million payment into two $50 million payments, to be partially contingent on performance during the Phase 3 trials; and (4) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.For more information on the Innate Pharma class action go to: https://bespc.com/cases/IPHAJPMorgan Chase & Co. (NYSE: JPM) Class Period: February 23, 2016 to September 23, 2020Lead Plaintiff Deadline: December 23, 2020On November 6, 2018, the Department of Justice announced in a press release that former JPMorgan precious metals trader John Edmonds pled guilty to commodities fraud and a spoofing conspiracy.On August 20, 2019, the Department of Justice announced that another JPMorgan employee, Christian Trunz, pled guilty to spoofing charges, and had done so with the knowledge and consent of his supervisors.On September 23, 2020, Bloomberg reported that the Company was nearing a settlement to resolve the spoofing charges.On this news, shares of JPMorgan stock fell $2.04 per share, or 2%, to close at $92.74 per share on September 23, 2020.On September 29, 2020, the Commodity Futures Trading Commission (“CFTC”) formally announced that it had ordered JPMorgan to pay $920 million to settle the spoofing and manipulation charges. According to the order, the Company failed to monitor its employees and ignored multiple red flags. The Company also provided the CFTC with misleading information.The complaint, filed on October 24, 2020, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) traders at the Company, with the knowledge and consent of their superiors, manipulated the precious metals market by “spoofing,” or placing fake orders to generate the appearance of market demand; (2) the Company had insufficient controls and compliance protocols to enable it to identify and stop the misconduct; (3) the Company’s earnings in the physical commodity market were, at least in part, ill-gotten; (4) such conduct would result in enhanced regulatory scrutiny; (5) the Company provided misleading information to CFTC investigators at early stages of the investigation into the misconduct; (6) resolution of the governmental investigation into the Company would result in a record-breaking $920 million fine; and (7) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.For more information on the JPMorgan securities class action case go to: https://bespc.com/cases/JPMFirst American Financial Corporation (NYSE: FAF) Class Period: February 17, 2017 to October 22, 2020Lead Plaintiff Deadline: December 24, 2020On May 24, 2019, KrebsOnSecurity.com (“KrebsOnSecurity”), a noted cybersecurity blog, reported a massive data exposure by First American in which approximately 885 million customer files were exposed by First American.On this news, shares of First American fell $3.46, or over 6%, to close at $51.80 per share on May 25, 2019.On October 22, 2020, First American filed a quarterly report on Form 10-Q with the SEC, announcing that the Company had received a Wells Notice regarding its massive security breach.On this news the price of First American shares fell approximately $4.83 per share, or 9%, to close at $46.75 per share on October 22, 2020.The complaint, filed on October 25, 2020, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company failed to implement basic security standards to protect its customers’ sensitive personal information and data; (2) the Company faced a heightened risk of cybersecurity failure due to its automation and efficiency initiatives; and (3) as a result, defendants’ public statements were materially false and misleading at all relevant times.For more information on the First American Financial class action go to: https://bespc.com/cases/FAFAbout Bragar Eagel & Squire, P.C.: Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.Contact Information: Bragar Eagel & Squire, P.C. Brandon Walker, Esq. Melissa Fortunato, Esq. Marion Passmore, Esq. (212) 355-4648 investigations@bespc.com www.bespc.com

Is JPMorgan Chase Eyeing a British Challenger Bank?
Wed, 02 Dec 2020 20:59:00 +0000
JPMorgan Chase (NYSE: JPM) is considering buying a British challenger bank to jump-start the launch of its own digital banking efforts in the U.K., The Times of London recently reported . The bank being considered is called Starling Bank, which is known as a challenger bank because it is a smaller and relatively newer bank that intends to compete with the more established brands, often by focusing on underserved populations. Launched in 2014, Starling has raised hundreds of millions of dollars in private funding, and has acquired 1.8 million customers and roughly 4 billion British pounds in deposits.

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