JPMorgan Chase: +1.4% in less than 24 hours

JPMorgan Chase & Co. was expected to reveal its fourth-quarter earnings before the market open on Friday, January 13. We had published the question below a few weeks before earnings report was released:

JPMorgan Chase & Co. (JPM) will report its Q4 earnings on January 13 before the market open. Will JPMorgan Chase & Co report earnings per share (EPS) above Wall Street Consensus of 1.42?

Cindicator users thought that the probability of JPM to reveal better-than-expected earnings was 79 percent. Thus, we had bought a few shares of JPM at $86.36 average right before the market close on Thursday, January 12.

JPMorgan Chase announced stronger-than-expected fiscal fourth-quarter results. Wall Street banking giant reported earnings per share of $1.71 versus the analyst’s estimate of $1.42.

We closed half of the position at $87.72 and another half at $87.41.

Overall, gross profit was 1.4% in less than 24 hours.

Happy trading,

Cindicator team

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