The financial giant will be reporting before the market open, and the current forecast is for reported EPS of $2.5, which would surpass the results marginally for Q2 2018 when the reported earnings per share were at $2.29.
JPMorgan has had some misfires in the recent past, such as with earnings report from the 15th of January of this year, when the reported EPS did not meet the initial expectations, and the overall market surprise amounted to 10% difference between the two.
Regardless, the company is facing new challenges with surrounding controversy and most notably, the cargo ship that was seized in June by US officials in Philadelphia containing nearly 20 tons of cocaine on board. The ship was later discovered to be owned by a fund that is run by JPMorgan. [source]
Thus, the earnings report is turning of pivotal importance for the company, as the shares are currently headed towards testing the major resistance level at 117.00, but a possible release of disappointing data might be enough to send the share price tumbling down, being additionally strained by investor pressure from the poor press.
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