JPMorgan Chase (JPM) CEO Jamie Dimon plans to invest further as a result of corporate tax reform.

“The enactment of tax reform in the fourth quarter is a significant positive outcome for the country,” Dimon said in a statement for the bank’s fourth-quarter earnings release.

“U.S. companies will be more competitive globally, which will ultimately benefit all Americans,” Dimon continued. “The cumulative effect of retained and reinvested capital in the U.S. will help grow the economy, ultimately growing jobs and wages. We have always invested, even in difficult times, in our employees, customers and communities, and as a result of the tax plan we will be increasing and accelerating some of these investments.”

Beyond the statement, there were no further details about what those investments might look like.

During the fourth quarter, JPMorgan said it had incurred a one-time write-down of $2.4 billion, or 69 cents per share, because of tax reform. The bank had been seen taking a $2 billion charge. Tax reform is expected to be a positive for the banks going forward.

JPMorgan expects to see an effective tax rate of about 19% in 2018.

Kicking off earnings season for the big banks, JPMorgan, the largest U.S. bank by assets, reported adjusted earnings per share of $1.76 versus analysts’ estimates of $1.69 per share. Revenue for the fourth quarter came in at $25.45 billion slightly below analysts’ estimates of $25.5 billion.

Breaking it down further, revenue from FICC trading came in at $2.22 billion, down 34% compared to the same period a year ago.

Revenue from equity sales and trading came in at $1.15 billion, which was flat compared to a year ago. The bank noted that it incurred a mark-to-market loss of $143 million on a margin loan to a single client. On the conference call, the bank confirmed that client was Steinhoff International Holdings, the South African-based retailer that’s embroiled in an accounting scandal.

The bank posted $1.64 billion in revenues from investment banking, missing estimates of $1.66 billion.

The bank said that tax reform should be a “positive for M&A and ECM, negative for DCM – overall net positive.”

Shares of JPMorgan were last trading slightly higher in the pre-market.

Posted by cccp1014 on 1/11/2018 7:55:00 PM (view original):
LOL in July? Why it will be nice here then? I was there in April and it was brutal. All Inclusive just make friends with the bar tenders and you ll get top shelf stuff.

I actually prefer to travel in America. Just a personal pref.

It's a huge group of us going for our 50th birthdays...kinda got trapped into it. I can imagine it's going to be brutal. So far the worst heat/humidity combo I've dealt with is Panama, curious to see how it compares to that. Place we are staying is already nothing but top shelf so I don't have to worry about that. I'm a fat tipper, even when it's not expected so I always get great service.

Really bumming me out when I saw the football schedule come out and it has the Raiders playing the Seahawks in London. Going to be hard to shoe horn that in. Would have rather done that.


I've pretty much been everywhere in America. Still haven't been to Austin, Texas or New Orleans, but I've seen every other major city/monument/national park/tourist destination there is in the US for the most part and New Orleans is on the schedule for 2019. Love seeing other cultures in their native lands.

50!!?!?!?! you are old!! LOL

That sun is brutal. Similar to Mexico. I generally don't burn but the DR sun fried me. Do you have NFL Mobile? You can watch the game that way as they will have WiFi. Yes, I see you as that type. World Traveler. My parents are the same way and they dragged me everywhere when I was young. So now I don't want to go anywhere!!! LOL

Enjoy your trip and drink a lot of water!!!

It's as if you married a donkey and think you can fool everybody into thinking she's a lithesome beauty whom the rest of us just wish we had. You keep saying......."Ain't she got the purtiest eyes", or
"Look at her sweet backside",
or "She's got the sweetest temperament, steady and stoic", and "listen to that voice, pure harmony"

The rest of us are all going "Hey Dude............. She's a freaking Donkey, get your head out!"
All but a few other nut-job donkey lovers.

If we was best friends I'd try and find a way to tell you.......... "Hey Boris, Your bride is ugly, has an annoying voice that sounds more like braying, her *** is sloppy and disgusting, and besides that she's an untrustworthy liar who'd get into bed with anyone for a dime"

But I really don't know you that well.
Plus I know nothing of Jewish customs. Not many around abouts where I grew up (and live).........
Perhaps blind faith in stupid charlatans is a culture thing............

:-)

Bottled water! The game is in October. Not sure I can swing another trip in there at that time. Got a huge Vegas junket in December also.(also a 50th celebration...yes I'm old)

Well. I will say this. You only live once. I would do all I can to go to these events. My wife and I travel less now because we have kids, bills, etc. But I may travel more once they are more independent and such. Vegas is generally affordable.

Yeah, having no kids and two pretty nice incomes affords us a luxury a lot of my friends don't have. No varsity jackets. No class rings. No school lunch. The list goes on and on and on.

• No gymnastics monthly payments, meets, uniforms.
• No basketball travel and aau payments, uniforms, sneakers
• No Lacrosse payments, sticks, uniforms
• Feeding them and clothing them
• Driving them everywhere
• Furnishings

Kids are PRICEY!!!! Which is where tang and I disagree. He says people should have them even if they cannot afford them. My wife wanted four kids, we settled for two because kids are PRICEY!!!

Consider yourself fortunate to not have to put up the $$. Of course kids provide immense joy but they also provide immense worries! LOL

yeah, I have nieces and nephews to borrow if I feel the need. My Disney Vacation club timeshare has made me the favorite uncle. lol

Posted by The Taint on 1/12/2018 11:13:00 AM (view original):
yeah, I have nieces and nephews to borrow if I feel the need. My Disney Vacation club timeshare has made me the favorite uncle. lol

We got timeshares when the kids were little, and now that they're out on their own, wifey and I spend a LOT of time traveling. And we've even thrown the kids some hotel stays for their vacations...

For us, it was a great investment.

Posted by The Taint on 1/12/2018 10:10:00 AM (view original):

Posted by cccp1014 on 1/11/2018 7:55:00 PM (view original):
LOL in July? Why it will be nice here then? I was there in April and it was brutal. All Inclusive just make friends with the bar tenders and you ll get top shelf stuff.

I actually prefer to travel in America. Just a personal pref.

It's a huge group of us going for our 50th birthdays...kinda got trapped into it. I can imagine it's going to be brutal. So far the worst heat/humidity combo I've dealt with is Panama, curious to see how it compares to that. Place we are staying is already nothing but top shelf so I don't have to worry about that. I'm a fat tipper, even when it's not expected so I always get great service.

Really bumming me out when I saw the football schedule come out and it has the Raiders playing the Seahawks in London. Going to be hard to shoe horn that in. Would have rather done that.


I've pretty much been everywhere in America. Still haven't been to Austin, Texas or New Orleans, but I've seen every other major city/monument/national park/tourist destination there is in the US for the most part and New Orleans is on the schedule for 2019. Love seeing other cultures in their native lands.

Not missing much with New Orleans in my opinion. The history was interesting, but it isn't worth it.

New Orleans is a great city!
Kids are expensive. My wife and I originally planned on 2, but the second one turned out to be twins.

Yeah, something about it just didn't do it for me.

I've been to 40 States, not going anywhere abroad until I've been to all 57!

I’m a huge foodie and it seems to possibly be one of the best.

Gonna hit it up for Jazz Fest.