Wednesday, October 13, 2010

A Dull Diamond (NYSE: JPM)

New York - J.P. Morgan the U.S. Banking giant is currently down over 0.35% in early morning trade. The banking company reported net income of $4.4 billion or 1.01 a share which was 11 cent higher than analyst estimates. Allan Edwards the CEO of The Markets Are Open said "well we didn't see that all important loan growth, you would have felt with a rebounding U.S. economy J.P would have made a few more loans to LP." LP is Wall Street lingo for little people referring to average America. Edwards continued "you need LP and JP to be cohesive and only then do you get $."

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