July 13, 2018 / 11:36 AM / 2 months ago

BUZZ-JPMorgan: Slightly adds to gains after Q2 EPS beat

** JPMorgan shares up 0.51 pct at $107.40 premarket, slightly adding to their gains of 0.39 pct ahead of Q2 results

** JPM’s Q2 EPS tops estimates, driven by much higher-than-expected trading revenue and increased loan demand

** JPM EPS of $2.29 beats consensus of $2.22 after a miss in Q1, which was its first in two years

** JPM kicks off earnings season for big U.S. banks; Wells Fargo, Citigroup due to report at 8 a.m. ET

** WFC up 0.48 pct premarket, Citi up 0.64 pct

** JPM options activity implies a 2.2 pct swing in either direction for shares by Fri. close. In last 8 qtrs, shares moved 1.2 pct on avg on earnings days - Trade Alert data

** JPM dips 0.08 pct YTD, while the others in the big six US banks are down between 11 pct (Goldman) and 2.5 pct (Bank of America); S&P 500 banks down ~3 pct YTD

** JPM’s NTM price-to-book ratio is 1.47, highest among big banks; WFC is next at 1.42x and Citi is lowest at 0.88x (Reporting by Savio D’Souza)

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