Streetinvesting.com: Progress Review for JP Morgan Chase & Company

Jan 16, 2008 (M2 PRESSWIRE via COMTEX) -- JPM | news | PowerRating | PR Charts -- Tuesday's markets opened with Citigroup Inc. announcing losses of almost $10 billion in the last three months of the year, which places the loss as the largest quarterly deficit in the banks 196-year history. As a result, it slashed its dividend and has lined up $12.5 billion in new investments from sovereign wealth funds and existing shareholders to help bolster its capital. Merrill Lynch further announced Tuesday that it is receiving a cash infusion of $6.6 billion from three foreign investment funds. Merrill Lynch has been raising capital after losing billions of dollars in the mortgage market.

JP Morgan Chase & Company (NYSE:JPM) traded up $1.33 Wednesday early in the day, with below-average volume.

Our research resources have been aimed towards the US Large Caps and the various prospective companies therein. JP Morgan Chase & Company was among those that we have been closely examining due to their recent news and trading patterns.

Dec 16th 2008, Chase, the consumer division of JPMorgan Chase & Co., commences today a celebration of their 10-year anniversary and long-time commitment to the city of Springfield, Missouri. Springfield is home to Chase's largest customer-service call center in the U.S. which also positions Chase as the third-largest private employer in the city. Chase will kick-off a year-long anniversary celebration with a cake-cutting ceremony, Wednesday, Jan. 16, from 2:30-3:30 p.m. in the Chase building at 303 E. Republic Rd.

JPMorgan Chase & Co. is a leading global financial services firm with assets of $1.5 trillion and operations in more than 50 countries. The company has more than 154 million credit cards issued. Under the Chase and JPMorgan brands, the firm serves millions of consumers and businesses in the United States and many of the world's most prominent corporate, institutional and government clients. Information about the firm is available at www.jpmorganchase.com

Finally, a new round of economic data released Tuesday, showed that holiday sales were even worse than many of the experts had expected just adding fuel to the fire increasing fears that 2008 could be an even more challenging year for retailers. With only a 3 percent increase, this proved to be the slowest pace of growth since 2002.

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