JPMorgan Sees 19% Decline in First Quarter and Rite Aid Soars to New Yearly High
JPMorgan Chase & Co. (NYSE: JPM) has revealed net income of $5.3 billion in the first quarter of 2014. This is a 19% decline compared to the $6.5 billion reported in the first quarter of last year. In addition its earnings per share also fell 19%, from $1.59 in the first quarter of 2013 to $1.28 in the most recent quarter. CEO Jamie Dimon said, "there were industrywide headwinds in Markets and Mortgage," and suggested the bank "had a good start to the year."
JPMorgan Chase & Co., a financial holding company, provides various financial services worldwide. The company operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; and residential mortgages and home equity loans, as well as provides credit cards, payment services, payment processing services, and auto and student loans.
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Rite Aid Corporation (NYSE: RAD) hit a new 52-week high after the company posted better-than-expected fourth-quarter fiscal 2014 results. The drug store also provided an impressive guidance for fiscal 2015. The company’s adjusted earnings of 10 cents per share for the quarter registered year-over-year growth of 42.9%. This easily beat the Zacks Consensus Estimate of 4 cents.
Rite Aid Corporation, through its subsidiaries, operates a chain of retail drugstores in the United States. The company sells prescription drugs and a range of other merchandise, including over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other every day and convenience products. It also offers various photo processing services in its stores. The company offers its products to customers covered by third party payers, such as insurance companies, prescription benefit management companies, government agencies, private employers, and other managed care providers.
Get more information on Rite Aid Corporation free access to the in depth equity report at: www.TrendingWallStreet.com/stockquote/RAD
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