Another headache for $JPM.

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$JPM took a profit on some assets to help smooth out the losses announced two weeks ago in a derivatives position gone wrong. The $25 billion seems like overkill compared to the losses, but perhaps they are trying to get ahead of volatile markets.

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“Stock buybacks are falling to a three-year low just as U.S. chief executive officers boost spending on plants and equipment to a record.

Companies announced $1.1 billion of repurchases a day on average during the earnings season in April and May, the lowest level since mid-2009, according to data compiled by Bloomberg and TrimTabs Investment Research Inc. Capital spending in the U.S. has risen since 2010 and reached $63.6 billion in March. Devon Energy Corp. (DVN) eliminated buybacks and boosted exploration and production spending 18 percent. United Parcel Service Inc. (UPS) cut repurchases in order to buy TNT Express NV.”

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Just is case the IPO skyrocketed the assumption is they could continue collecting commission on the most profitable accounts. But it backfired and they, the best clients,  got hosed.

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SSDD in the capital of cronyism….

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“Apple Inc Chief Executive Tim Cook will not be earning dividend income on the more than 1 million shares to which he is entitled, which will cost him about $75 million.

Apple said in a filing with the U.S. Securities and Exchange Commission on Thursday that Cook had asked to be excluded from a recently instituted company program through which employees can accumulate dividends on their restricted stock units that are still vesting.”

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Spain’s Bankia was halted today as the bailout earlier this week went from $11.3 Billion to $18.8 billion. Not good to say the least.

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$FB was just the last episode of misrepresentation. Apparently $MS has engaged in selective disclosure on Russian IPOs according to Canadian investors who have complained to the Ontario Securities Commission.

Perhaps $MS mistook the phrase when in Rome for when in Russia….

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[youtube:http://www.youtube.com/watch?v=kltaSirUsVQ&feature=g-all-u 603 500]

WASHINGTON (MarketWatch) — Bank profits rose in the first quarter of 2012, reaching their highest quarterly levels since the second quarter of 2007, according to the Federal Deposit Insurance Corp.’s quarterly banking report, released Thursday. However, total loan and lease balances on the books of banks declined by $56 billion in the quarter, a situation that FDIC Chairman Martin Gruenberg said was “disappointing” after the industry saw three quarters of growth last year. Bank net income for the first quarter of 2012 was $35.3 billion, up by $6.6 billion from the first quarter of 2011. Meanwhile, revenues — driven partly by gains on loan sales — increased for only the second time in the past five quarters. Net operating revenue increased by $5 billion from the year-earlier querter. The FDIC said that once again lower provisions for loan losses contributed to earnings improvement. The number of banks on the FDIC’s “problem list” fell to 772 from 813 during the first quarter of 2012, and the assets of problem institutions declined to $292 billion from $319 billion.

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$DOW will pick up some coin for winning an arbitration of wrongly cancelled contracts.

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It has been FDA approved and ready for market.

http://www.youtube.com/watch?v=67H1eZBHiDQ&feature=player_embedded

The gentlemen who assessed $AAPL correctly says $FB is fairly valued @ $29 sticks….

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Good news for $GOOG…

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This IPO has been such a boon for confidence….

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“Nasdaq OMX Group Inc. has been sued by an investor who claimed the exchange operator was negligent in handling orders for Facebook Inc. shares after its initial public offering, causing losses for investors.”

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$CAT to offer $1.5 billion in 3,5,& 10 year notes….

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The stock is down 22%, dragging the coal sector with it.