J.M. Smucker shares (SJM) slid 5.4% in premarket trade, after the fruit spread and packaged coffee company provided a disappointing fiscal second-quarter outlook, and cut its full-year profit target, citing a sharp dropoff in coffee sales.
By Emily Glazer
J.P. Morgan Chase Co.'s chief financial officer on Wednesday said it is "reasonable" to assume the largest U.S. bank's capital ratio could go up to a total of 11.5%, just a day after U.S. regulators said eight of the largest U.S. banks will need more capital to make the financial system less risky.
-- Participants' cash investment allocations remain largely unchanged from last year, with approximately 50% of short-term investment balances being maintained in bank obligations, and 25% of balances invested in money market funds --
By Saabira Chaudhuri And Emily Glazer
J.P. Morgan Chase & Co.'s fourth-quarter profit fell 6.6% as the bank posted higher-than-expected legal expenses and climbing provisions for loans that could sour.
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