JPMorgan Raises Expense Forecast by $1 Billion, Shares Slide 2.5%
JPM sits 16% above its 52-week low of $260.31 on light trading volume (0.4× avg).
Summary
JPMorgan Chase CEO Jamie Dimon announced an increase in the full-year 2026 expense forecast by $1 billion, raising it to $106 billion from $105 billion. This update, attributed to stronger business performance, led to a 2.5% decline in the company's shares. While the article also reiterates positive Q2 guidance for investment banking and markets business, the market reacted negatively to the higher expense outlook. Dimon also indicated the bank is looking for potential acquisitions of $10-20 billion in the coming years.
At the time of this announcement, JPM was trading at $302.23 on NYSE in the Finance sector, with a market capitalization of approximately $809.8B. The 52-week trading range was $260.31 to $337.25. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.