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JPM

J P Morgan Typically Reverses or Narrows Earnings-Driven Pre-Market Moves in Following Regular Session

JPMorgan Chase ( JPM ) is due with its Q4 report in the pre-market Tuesday, Jan. 15, and analysts polled by Capital IQ expect the firm to report a profit of $2.19 per share on revenue of $26.69 billion.

JPM consistently reacts to the upside in extended-hours trade when the company reports its quarterly results, gaining ground ahead of the bell in 33 of the last 48 quarters we've tracked over the last 12 years. However, longs should be wary of expecting those early gains to extend throughout the day. In 21 of those 33 quarters, or 64% of the time, JPM has seen its earnings-driven pre-market gains narrow or reverse in the following regular session.

JPM hasn't seen much downside reaction to its quarterly reports in the extended-hours, declining in 15 of the 48 quarters tracked and posting follow-on regular session results favoring the long side: adding to its declines six times and narrowing or reversing its negative trade nine times in the regular session.

Here's the historical performance data:

On Oct. 12, 2018, JPM gained 2.2% in pre-bell action after topping Q3 earnings estimates but missing on revenue. The stock reversed direction in that day's regular session, ending down 1%.

On July 13, 2018, JPM edged up 0.4% in pre-market trade after beating Q2 expectations. The shares reversed direction in the follow-on regular session, ending down 0.4%.

On April 13, 2018, JPM gained 1.3% in pre-bell trade after topping the Street's Q1 projections. The stock reversed direction in that day's regular session, closing down 2.7%.

On Jan. 12, 2018, JPM added 0.8% in pre-market trade after posting a year-over-year decline in Q4 earnings while revenue exceeded expectations. The stock added modestly to its upside in that day's regular session, closing up 1.6%.

On Oct. 12, 2017, JPM edged up 0.4% in pre-bell trade after topping Q3 consensus estimates. The stock reversed direction in the follow-on regular session, closing down 0.8%.

On July 14, 2017, JPM declined 2.2% in pre-market action despite beating the Street's Q2 consensus forecasts. The stock cut its downside in that day's regular session, closing down 1%.

On April 13, 2017, JPM edged up 0.3% in pre-bell trade after topping Q1 profit and revenue projections. The stock reversed direction in that day's regular session, ending down 1.1%.

On Jan. 13, 2017, JPM gained 1% in pre-market trade after posting Q4 revenue in line with expectations and beating earnings estimates. The stock narrowed its gains in the follow-on regular session, closing up 0.5%.

On Oct. 14, 2016, JPM advanced 1.5% in pre-bell trade after beating Q3 Street estimates. The stock reversed direction in that day's regular session, closing down 0.3%.

On July 14, 2016, JPM edged up 0.3% in pre-market action after beating Q2 consensus estimates. The shares narrowed slightly in that day's regular session, ending up 0.09%.

On April 13, 2016 JPM advanced 2% in pre-bell trade after topping Q1 Street estimates. The stock added to its gains in the regular session, closing up 4.2%.

On Jan. 14, 2016, JPM gained 1.3% in pre-market trade after topping Q4 expectations. The stock edged higher in that day's regular session, closing up 1.5%.

On Oct. 13, 2015, JPM dipped 1.2% in after-hours trade after missing Q3 earnings expectations and just beating on revenue. The stock moved lower in the following day's regular session, ending down 2.5% on Oct. 14.

On July 14, 2015, JPM dipped 0.2% in pre-market trade after beating Q2 Street estimates. The stock reversed direction in the regular session, closing up 1.4%.

On April 14, 2015, JPM gained 1.4% in pre-bell action after topping Q1 expectations. The stock saw a modest lift higher in that day's regular session, ending up 1.6%.

On Jan. 14, 2015, JPM declined 3.4% in pre-market trade after missing Q4 expectations. The stock added slightly to its downside in that day's regular session, ending off 3.5%.

On Oct. 14, 2014, JPM declined 2.3% in pre-bell trade after posting a Q3 profit shy of expectations and revenue above the Street view. The stock narrowed its downside in the follow-on regular session, ending down 0.3%.

On July 15, 2014, JPM advanced 3% in pre-market trade after beating Q2 Street forecasts. The stock firmed higher in the regular session, ending up 3.5%.

On April 11, 2014, JPM declined 3.8% in pre-bell trade after missing Q1 expectations. The stock cut its downside slightly in the regular session, ending the day down 3.6%.

On Jan. 14, 2014, JPM gained 0.9% in pre-bell trade after topping Q4 expectations. The stock cut its upside in the regular session, closing with a 0.07% advance.

On Oct. 11, 1013, JPM advanced 1% in pre-market trade after beating Q3 expectations. The stock reversed direction in that day's regular session, ending down 0.02%.

On July 12, 2013, JPM edged up 0.6% in pre-market trade after beating Q2 estimates. The stock reversed direction in that day's regular session, ending off 0.3%.

On April 11, 2013, JPM dipped 0.8% in pre-bell trade after beating on earnings, posting in-line revenue, approving a buyback and boosting its dividend. The stock narrowed its declines slightly in that day's regular session, ending off 0.6%.

On Jan. 16, 2013, JPM dipped 0.9% in pre-bell trade despite topping Q4 estimates. The stock reversed direction in that day's regular session, advancing 1% by the closing bell.

On Oct. 12, 2012, JPM dropped 2% in pre-market trade after beating Q3 estimates. The stock narrowed its downside in that day's regular session, ending down 1.1%.

On July 13, 2012, JPM advanced 2.7% in pre-bell action after beating Q2 revenue expectations. The stock jumped higher between the bells, ending the regular session up 5.9%.

On April 13, 2012, JPM edged up 0.4% in pre-market trade after posting better-than-expected Q1 results. The stock lost its gains in that day's regular session, ending down 3.6%.

On Jan. 13, 2012, JPM shed 4.4% in pre-bell action after posting Q4 results in line with estimates. The stock cut its downside in that day's regular session, ending down 2.5%.

On Oct. 13, 2011, JPM declined 2% in pre-market trade after coming in with Q3 revenue ahead of expectations. The stock added to its negative trade in that day's regular session, closing down 4.8%.

On July 14, 2011, JPM advanced 3.7% in pre-bell action after beating Q2 expectations. The stock cut its upside in the follow-on regular session, ending up 1.8%.

On April 13, 2011, JPM gained 1.3% in pre-market trade after beating with Q1 results, hiking its dividend, and setting a new stock buyback plan. The gain evaporated in that day's regular session, with the stock ending down 0.8%.

On Jan. 14, 2011, JPM edged up 0.1% in pre-bell action after beating Q4 expectations. The stock firmed higher in the following regular session, closing with a 1% advance.

On Oct. 13, 2010, JPM gained 0.8% in pre-market trade after topping Q3 earnings estimates. The stock reversed direction in the regular session, ending down 1.4%.

On July 15, 2010, JPM gained 0.9% in pre-bell action after posting Q2 earnings up over year ago levels on lower revenue. The stock narrowed its upside in that day's regular session, ending up a thin 0.2%.

On April 15, 2010, the stock gained 3.4% in pre-market trading after a Q1 earnings beat. Shares were up a slightly stronger 4% during regular trading that day.

On Jan. 15, 2010, the stock fell 1% during early trading after an earnings and revenue miss. Shares fell 2.2% during regular trading.

On Oct. 14, 2009, JPM advanced 3.4% in pre-bell trade on the back of better-than-expected Q3 results. The stock narrowed its gains slightly in the following regular session, ending up about 3.3%.

On July 16, 2009, JPM declined 2.1% in pre-market trade despite reporting better-than-expected earnings results and revenue in line with expectations. The stock cut its downside in the follow-on regular session, ending July 16 bell-to-bell action off 0.3%.

On April 16, 2009, the stock gained 3.7% in pre-market trading after a profit beat. It closed the regular session up 2%.

In the pre-market of Jan. 15, 2009, the stock was up 2.7% after reporting a sharp drop in profit that beat the Street view. Shares reversed and fell 6% later that day.

On Oct. 15, 2008, JPM declined 2.3% in pre-market trade after reporting revenue shy of expectations. The stock headed deeper south in the following regular session, closing the day down 5.4%.

On July 17, 2008, the stock rose 5.7% during pre-market trading after JPM beat with its latest results. The stock closed regular trading up 13.5%.

On April 16, 2008, JPM gained 3.4% in pre-market trade after topping Q1 earnings expectations and just missing on revenue. The stock firmed higher in that day's regular session, rising 6.7% by the closing bell.

On Jan. 16, 2008, JPM advanced 3.1% in pre-market trade after topping Q4 revenue expectations and setting cautious guidance going forward. The stock added to its upside in the following regular session, closing the day up 5.7%.

In the Oct. 17, 2007 pre-market session, JPM rose 3.9% after topping Q3 expectations. Shares, however, eased back slightly in the regular session, ending up 2.8%.

On July 18, 2007, JPM lost 2.2% in the pre-market session despite beating Q2 estimates. It narrowed that loss slightly by ending the regular session down 2%.

On April 18, 2007, JPM edged up 2.6% on better-than-expected Q1 results and a $10 billion stock buyback program. Shares rose further during the regular session and closed up 3.7%.

On January 17, 2007, JPM firmed 0.4% after beating Q4 estimates. Shares inched slightly higher to end the regular session up 0.08%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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