Banks--- Betting on the recovery Message Board

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Non-Tech : Banks--- Betting on the recovery

WFC 93.77

-0.6%

11:44 AM EST

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To: tejek who wrote (89)	2/23/2009 5:28:00 PM
From: RockyBalboa	Read Replies (2) of 1428

BRIEF-JPMorgan Chase comments on Q1 outlook -Web Site Feb 23 (Reuters) - JPMorgan Chase & Co : * Says extraordinary times call for extraordinary measures * Says in Q1 investment bank sees strong qtd trading results * Says in Q1 investment bank sees solid fee income * Says in Q1 investment bank sees credit costs/marks of approximately $2b+/- possible * Says in Q1 retail finance services business sees modest deterioration in home lending * Says in Q1 retail finance services business sees need for additional reserves, as expected * Says in Q1 retail finance services business sees wamu earnings expectations still on track * Says in Q1 credit card services business sees credit deterioration as expected, but risk of higher unemployment rate likely during year * Says in Q1 credit card services business sees additional reserves likely * Says in Q1 commercial banking and treasury & securities services business sees revenue slightly down on market conditions * Sees Q1 asset management revenue in line with prior outlook * Says in Q1 corporate/pvt equity sees net interest income benefiting from more sizable investment portfolio * Says in Q1 corporate/pvt equity sees private equity related write-downs of about $400 million plus * Says must be prepared to handle a highly stressed environment (although it is not predicting this) * Says a highly stressed environment would be: a 2-year recession, 10% + unemployment and hpi decline of 40% peak-to-trough * Says legislative / government actions could also pose additional risk ((New York Equities Desk; tel: +1 646 223 6000)) ((For more news about JPMorgan Chase & Co click here: [JPM.N]))

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