Market News for JPMorgan, Intel and Toyota (NYSE:JPM),(NASDAQ:INTC),(NYSE:TM)


JPMorgan Chase & Co. (NYSE:JPM)  reported a $3.3 billion profit for the first quarter Wednesday, even as its results were tempered by ongoing losses in consumer loan portfolios.  Profits were up 55% from a year ago. On a per share basis, the New York City-based bank said it earned 74 cents a share during the quarter, easily topping Wall Street's consensus estimate of 64 cents a share. – CNNMoney

Intel Corporation’s (NASDAQ:INTC) sales and margin forecasts trounced Wall Street expectations, reinforcing hopes for an acceleration in the tech sector's recovery and boosting the chip maker's stock 4 percent.  The stellar showing from the world's top chip maker, an industry bellwether and among the first tech stocks to report first-quarter earnings, lifted Asian tech shares and should give Wall Street a boost.  Intel, bolstering expectations that businesses and consumers will speed up spending after 2009's belt-tightening, foresees a gross margin of 64 percent -- plus or minus 2 percentage points -- for both the current quarter and all of 2010. Wall Street had expected about 60 percent.  That put the company, which said on Wednesday it was seeing increased spending by corporations, on track to potentially surpass the record 64.7 percent margin chalked up in its fourth quarter. – Reuters

The 2010 Lexus GX 460 has been suspended from sale by Toyota Motor Corporation (ADR) (NYSE:TM) after Consumer Reports deemed the car unsafe.  The Lexus GX 460 was reported to be a roll-over risk and Consumer Reports gave the Lexus GX 460 a "Don't Buy" rating. "When pushed to its limits on our track's handling course, the rear of the GX we bought slid out until the vehicle was almost sideways before the electronic stability control system was able to regain control," and in "real-world" driving, this could lead to a fatal rollover accident, Consumer Reports said in a report Tuesday. Toyota said it asked dealers to temporarily suspend sales of the SUV while it conducts its own tests on the Lexus GX 460. – TheStreet


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