Unstructured Finance

Deals wrap: JPMorgan surprises

January 14, 2011

A sign is seen outside the JPMorgan office in Los Angeles, California, October 12, 2010. REUTERS/Lucy NicholsonJPMorgan reports higher-than-expected quarterly earnings, helped by narrowing losses on bad loans that allowed it to release $2 billion in reserves.

JPMorgan CEO Jamie Dimon reckons the bank will generate up to $50 billion in excess capital over the next three years. The veteran dealmaker should resist the temptation to go on a spending spree, writes Breakingviews columnist Antony Currie.

Sanofi-Aventis hopes to reach a takeover deal that would value Genzyme at around $76 per share, or some $20 billion, the French newspaper Le Figaro said.

A wave of split-offs could bolster what many already expect to be a big comeback in deal activity – fueled by cheap debt and record cash piles — this year.

“Hedge funds are crowding into more of the same trades these days, amplifying market swings during crises and unnerving investors,” the WSJ reports.

There’s a cupcake bubble in the works, reports Wealth Daily.

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