J.P. Morgan will report its quarterly results ahead of its time

J.P. Morgan Chase & Co. announced the plans on issuing report on quarterly results almost a week ahead of the schedule.  

Although the official reasons were not announced, the decision might have been driven by a scheduling issue. The bank usually unveils results on the third Wednesday of the month. But this month the third Wednesday falls particularly late in the month. 

Investors are expected to be especially interested in the report as the company had managed to avoid some of the major problems successfully against its rivals who failed in doing so. 

The last three months of 2008 involved a lot of problems due to falling equity prices and collapsing credit markets. Consequently, J.P. Morgan along with other banks had to struggle getting their loan payments from consumers who lost their jobs. Gerard Cassidy and other banking analysts at RBC Capital Markets wrote in a note to investors last week that the credit cycle was in the 2nd or 3rd inning and its effects on the industry would be felt throughout next two years. 

The stocks of J.P. Morgan have been falling by large in 2009. However, Cassidy and his colleagues state due to the current situation of credit market, the stocks could decline another 20-30%. J.P. Morgan shares are expected to fall by 53 cents a share to reach 18 cents a share. 

Source: Market Wire