CHICAGO, Aug. 17, 2012 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include JPMorgan Chase & Co. (NYSE:JPM), Deutsche Bank AG (NYSE:DB), Barclays Plc. (NYSE:BCS), Bank of America Corp. (NYSE:BAC) and Citigroup Inc. (NYSE:C).
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513
Here are highlights from Thursday's Analyst Blog:
JPMorgan Under LIBOR Scrutiny
JPMorgan Chase & Co. (NYSE:JPM) is facing probe from the Attorneys General and has received subpoena for its possible involvement in the manipulation of the London Interbank Offered Rate (LIBOR), according to a Reuters report.
Joint investigations by New York Attorney General Eric Schneiderman and Connecticut Attorney General George Jepsen are currently underway and in that course, subpoenas are being sent to the Wall Street giants.
The subpoenas are sent while investigations are underway, to probe any fraudulent and deceiving behavior on the company's behalf, which might have played a role in the rigging of the LIBOR. In addition to JPMorgan, Deutsche Bank AG (NYSE:DB) and Barclays Plc. (NYSE:BCS) have also been subpoenaed in this New York-Connecticut joint probe.
As a matter of fact, in addition to JPMorgan, several of the big banks including Bank of America Corp. (NYSE:BAC) and Citigroup Inc. (NYSE:C) are under the strict scrutiny of the regulators around the world in connection to the LIBOR manipulation scam.
Based on estimates of rates at which banks find it appropriate to borrow from each other, the LIBOR is determined. Since it is used as a benchmark for several lending transactions around the world, any manipulation would impact billions of users around the globe.
Hence, the regulatory authorities are investigating the matter thoroughly and plan to put forward an exemplary judgment so as to put an end to such shrewd practices in the future, bring justice to the sufferers and punish the wrongdoers.
Currently, we remain skeptical for JPMorgan and wait to see what the future beholds. If it is found guilty in this LIBOR scam, it is liable to be fined by authorities. Notably, in June, Barclays already faced a fine of $450 million by certain U.S. and U.K. authorities for rigging the rate.
JPMorgan, otherwise, boasts of a robust business diversification and sturdy capital levels. Yet, pressure on net interest margin and regulatory issues might mar the company s results in the upcoming quarters.
The shares of JPMorgan retain a Zacks #3 Rank, which translates into a short-term Hold rating. Considering the fundamentals, we have a Neutral recommendation on the stock.
Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: http://at.zacks.com/?id=5515.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leon Zacks. As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.
Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
SOURCE Zacks Investment Research, Inc.