SOURCE: Five Star Equities

Five Star Equities

May 17, 2012 08:20 ET

Bank of America and JPMorgan Shares Dip as Political Problems in Greece Mount

Five Star Equities Provides Stock Research on Bank of America Corp. and JPMorgan Chase & Co.

NEW YORK, NY--(Marketwire - May 17, 2012) - Year-to-date, banking stocks have been some of the strongest performers on Wall Street. The SPDR S&P Regional Banking ETF (KRE) has risen over 11.5 percent in 2012. But shares of the big banks have fallen recently amid growing concerns over Europe's debt crisis. Five Star Equities examines the outlook for companies in the Banking Industry and provides equity research on Bank of America Corp. (NYSE: BAC) and JPMorgan Chase & Co. (NYSE: JPM).

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Concerns over Europe's debt crisis have been growing as a result of recent political problems in Greece. Political parties in Greece have debated over a power-sharing arrangement that would create a new government. As talks drag on, there is growing uncertainty and concerns of Greece missing their next debt payment and possibly dropping out of the euro currency. If European officials fail to halt the financial crisis major U.S. banks could be exposed to losses as credit markets freeze and supply of critical funds are cut off.

Five Star Equities releases regular market updates on the Banking Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous stock reports and industry newsletters.

Bank of America Merrill Lynch has the No. 1 ranked equity Sales team in Asia according to the inaugural Institutional Investor magazine 2012 All-Asia Sales team survey. It also ranked No. 2 in the inaugural 2012 All-Asia Trading team survey. "The Asia investor community has always placed a premium on ideas, access and execution and our strategy has been to drive excellence in all three disciplines and deliver them in a coordinated package to our most important clients," said Richard Boseley, head of Asia Pacific Equity Sales and Global Markets Financing and Futures. "These results are particularly satisfying as they reflect direct client appreciation across our entire equity advisory and execution business."

JPMorgan last week announced they lost $2 billion on a "bad trading strategy." On Monday chief investment officer Ina Drew, responsible for the trading strategy, would retire and be replaced by Matt Zames. "We maintain our fortress balance sheet and capital strength to withstand setbacks like this, and we will learn from our mistakes and remain diligently focused on our clients, who count on us every day," CEO Jamie Dimon said.

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