On Thursday, Shares of JPMorgan Chase & Co. (NYSE:JPM), gained 0.53% to $69.56, hitting its highest level.
JPMorgan Chase & Co., declared Second-Quarter 2015 Results.
Net income was $6.3 billion, up 5%.
Net revenue was $24.5 billion, down 3%, driven by lower Mortgage Banking revenue and lower CIB Markets revenue related to business simplification, partially offset by growth in Asset Administration.
Noninterest expense was $14.5 billion, down 6%, driven by business simplification, lower legal expense and lower Mortgage Banking expense.
The provision for credit losses was $935 million, up 35%, despite lower net charge-offs, due to lower reserve releases contrast with the preceding year. In the current quarter, consumer reserve releases of $324 million were largely offset by an enhance in reserves across the wholesale businesses of $252 million driven by select downgrades, counting Oil & Gas.
JPMorgan Chase & Co. provides various financial services worldwide. The company operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset Administration.
Shares of Starbucks Corporation (NASDAQ:SBUX), inclined 0.72% to $55.74, during its last trading session, hitting its highest level.
On the heels of the launch of the private-sector led “100,000 Opportunities Initiative” to enhance hiring of America’s opportunity youth, Starbucks Corporation, declared two key planned initiatives to support economic development and social change in diverse, urban communities by assisting young people connect with meaningful employment and pathways to success.
Starbucks declared it will open stores in 15 diverse, low to medium income urban communities across the United States, with at least five stores predictable to open in 2016. These stores will be a key strategy in achieving the company’s formerly stated aim of hiring 10,000 Opportunity Youth – young people between the ages of 16-24 who face systemic barriers to meaningful jobs and education – and the 100,000 Opportunities Initiative’s collective aim of hiring 100,000 opportunity youth by 2018.
Starbucks will open the first of these stores in the Englewood neighborhood of Chicago’s south side; the West Florissant neighborhood in Ferguson, Missouri; the Jamaica neighborhood in Queens, New York; and Milwaukee, and will remodel its store at 7th & Camelback in Phoenix. Each of these locations will have an onsite training space where young people can learn valuable customer service and retail skills, based on the same world-class training Starbucks partners (employees) receive. Starbucks will also partner with local youth services organizations and government to leverage existing programs that assist connect youth with internships, apprenticeships and jobs in the community and foster the type of dialogue and engagement needed for continued social change.
Starbucks Corporation operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; Europe, Middle East, and Africa; China/Asia Pacific; and Channel Development.
Finally, Corning Inc. (NYSE:GLW), ended its last trade with 2.52% gain, and closed at $19.54.
Corning Incorporated, declared that its Board of Directors has authorized a new $2 billion share repurchase program of the company`s common stock. The program will expire on December 31, 2016. The board also declared a quarterly dividend on the company`s common stock of $0.12 per share, payable on September 30, 2015, to holders of record on August 31, 2015.
“We remain confident that Corning`s long-term business prospects remain strong. And this allows us to continue enhancing value to our shareholders with another stock repurchase plan,” Wendell P. Weeks, chairman, chief executive officer and president, said.
“Our repurchases demonstrate not only our ongoing commitment to return cash to shareholders, but also our belief that Corning`s valuation is greater than the current share price,” said James B. Flaws, vice chairman and chief financial officer.
Corning Incorporated manufactures and sells specialty glasses, ceramics, and related materials worldwide. The company operates through five segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences.
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