JPMorgan profits sink, but Dimon confident

NEW YORK (CNNMoney) JPMorgan Chase CEO Jamie Dimon expressed more optimism about the economy, but that's not reflected in his company's earnings.

The nation's largest bank by assets earned $5.3 billion, or $1.28 per share, in the first three months of 2014. That was down sharply from the first quarter of 2013 and was below analysts' forecasts. Revenue fell 8% from the same period last year, to $23.9 billion.

Shares of JPMorgan (JPM, Fortune 500) plunged 4% in early trading.

The news may not be good for the many others in the banking sector -- and investors overall. JPMorgan was the first major financial firm to report its results.

But another big bank fared much better than JPMorgan. Wells Fargo (WFC, Fortune 500) reported a 14% jump in profit from a year ago Friday. Earnings topped estimates, but Wells Fargo's stock was down slightly.

Citigroup (C, Fortune 500), Bank of America (BAC, Fortune 500), Morgan Stanley (MS, Fortune 500) and Goldman Sachs (GS, Fortune 500) will release their results next week and expectations are low for those four banks as well.

Stocks plunged on Thursday and there were some hopes that good news from banks might help to stabilize the market. But stocks were down again Friday morning.

Still, Dimon said in a press release that the bank has "growing confidence in the economy." He added that "consumers, corporations and middle market companies are in increasingly good financial shape and housing has turned the corner in most markets." -- and we are doing our part to support the recovery."

But the bank's profits were hurt in the quarter by a slowdown in mortgages and bond trading. But it does look like the average consumer is both saving and spending more. Deposits rose and so did credit card volume.

Another bright spot was a 29% jump in fees from underwriting initial public offerings and other stock sales.

The bank has also had its fair share of legal headaches in the past year.

Early in the first quarter, JPMorgan agreed to pay $2.6 billion to settle lawsuits stemming from its relationship with disgraced financier Bernard Madoff. It also announced a record $13 billion settlement with the Justice Department in November to resolve allegations linked to the sale of risky mortgage securities during the housing bubble.

  Why big banks are too big to jail

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But investors seem to have confidence that the bank's legal woes are mostly behind it. Although the stock is down so far in 2014, shares have gained more than 16% in the past 12 months.

And the market still seems to have faith in Dimon. But there are some concerns about who might eventually succeed him. There has been a bit of a brain drain at the bank lately.

Michael Cavanagh, who many viewed as the most likely JPMorgan executive to one day take over for Dimon, left last month to take a job at private equity titan Caryle Group (CG).

Not that Dimon is going anywhere just yet. He has made it clear that he wants to stick around for some time.

5 Energy Services Stocks to Buy Now

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The grades of five energy services stocks are better this week, according to the Portfolio Grader database. Every one of these stocks has an “A” (“strong buy”) or “B” overall (“buy”) rating.

Exterran Partners, L.P. () is making progress this week as its rating of C (“hold”) from last week increases to a B (“buy”) rating this week. Exterran Partners offers natural gas compression services. In Portfolio Grader’s specific subcategory of Margin Growth, EXLP also gets an A. At present, the stock has a dividend yield of 2.1%. .

Synthesis Energy Systems, Inc. () is seeing ratings go up from a C last week to a B this week. Synthesis Energy Systems designs, invests in, builds, owns, and operates utility plants for industrial customers. .

The rating of Parker Drilling Company () moves up this week, rising from a C to a B. Parker Drilling provides contract drilling and related services. .

CARBO Ceramics () boosts its rating from a C to a B this week. CARBO Ceramics manufactures and supplies resin-coated ceramic and resin-coated sand proppants primarily used in the hydraulic fracturing of natural gas and oil wells in the United States and internationally. Shares of CRR have increased 14.2% over the past month, better than the 1.7% decrease the S&P 500 has seen over the same period of time. .

Helmerich & Payne, Inc.’s () ratings are looking better this week, moving up to a B from last week’s C. Helmerich & Payne provides contract drilling of oil and gas wells in the Gulf of Mexico and South America. Despite the upgrade, the stock has remained flat from a week ago. The stock has a dividend yield of 2.5%. .

Louis Navellier’s proprietary Portfolio Grader stock ranking system assesses roughly 5,000 companies every week based on a number of fundamental and quantitative measures. Stocks are given a letter grade based on their results — with A being “strong buy,” and F being “strong sell.” Explore the tool here.

Adviser reviews coming soon to a website near you

Financial advisers should keep an eye open for a new form of client feedback that's on its way — public reviews.

The guidelines issued last week by the Securities and Exchange Commission for how financial advisers can use testimonials in social media is expected to spur the creation of more online venues for the public to review and rate their financial advisers.

The SEC said advisers can now link to sites such as Yelp!, as long as the reviews are independent from the adviser and aren't organized to display only chosen testimonials, such as exclusively positive feedback. Regulators also said advisers may advertise on these third-party sites.

“I don't think that online searches for financial advisers is going to turn the world upside down in 2014, but long-term, the writing is on the wall,” said Grant Easterbrook, a senior research associate at consulting firm Corporate Insight.

(Take the quiz: Are your client review tactics compliant?)

Just as many Americans have learned to use online recommendations to pick restaurants, hotels and even doctors, the process of choosing a financial adviser is likely to incorporate a check of his or her online reviews.

(See Michael Kitces' take on the new guidelines.)

In fact, a Corporate Insight survey of American investors in December 2013 found that 67% of Generation Y/Millennials said they would definitely or probably use an online search tool to find an adviser. About 28% of baby boomers said they would use one, Mr. Easterbrook said. These online searches often include third-party sites that give a rating and testimonials to companies offering a given service.

Several general online research tools like Yelp!, AngiesList and FindtheBest already incorporate adviser reviews, but the number of reviews that have been posted are small. Personal-finance focused WalletHub also allows for adviser reviews.

Pinnacle Advisory Group's Michael Kitces on how review sites could impact the advisory business.

Financial information website Brightscope Inc. plans to add reviews in light of the new guidance, said Sonia Ahuja, the firm's executive vice president of strategy and business development. U.S. News and World Report also might considering adding reviews in the future for its new Advisor Finder directory, said Kirk Shinkle, senior editor for money and business.

The SEC's action is too late for the entrepreneurs who started TippyBob as a site for financial adviser ratings and reviews in 2012. They shut down the site last year because they couldn't “get enough traction,” said co-owner Annie Campbell.

“There was just too much regulation regarding testimonials at! that time,” she said.

WalletHub chief executive Odysseas Papadimitriou said he believes more advisers will advertise on WalletHub now that the SEC has given them the green light. That would help his firm generate revenue.

Wallethub created profiles for about 250,000 financial advisers based on public information before it launched in August 2013. Advisers can claim their profile and customize it for free. Mr. Papadimitriou said the firm doesn't know how many people have written adviser reviews.

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The SEC's move last week “is validation to the importance of reviews in this space,” he said.

“The thing I get nervous about with third-party review sites is, there's always a bad apple who figures out how to game the site,” said Amy McIlwain, president of consulting firm Financial Social Media. “We don't want that to happen in the financial space.”

With some review sites, people can essentially buy a collection of positive reviews, she said, and that's not what the SEC has in mind. Adviser review sites also will have to have a strict policy about authenticating the people who are reviewing or rating advisers to make sure they aren't ex-employees or competitors posing as clients.

Advisers will have to be aware of where their names are popping up on third-party sites and interact with those profiles “to paint a clear picture of what they do from a business perspective,” Ms. McIlwain said.

“You don't want people going to a blank profile,” she said. “Advisers need to continually monitor their brand and online reputation.”

Advisers also have to accept that there likely will be negative reviews, as consumers often are more inspired to write about bad service than to compliment a positive experience, said Joanna Belbey, a social media and compliance ! specialis! t with Actiance Inc.

"Advisers will have to think about how they'll deal with bad reviews," she said.

Alan Moore, an adviser who mostly handles clients from Generations X and Y, said his clientele has been asking where they could offer online reviews of his service.

He's eager to see review sites become more robust.

“We're the only profession where you can't comparison shop online,” said Mr. Moore, founder of Serenity Financial Consulting. "Those of us in the good-apple bunch are going to benefit from this."

Top 10 Oil Service Stocks To Own For 2014

Top 10 Oil Service Stocks To Own For 2014: LDK Solar Co. Ltd.(LDK)

LDK Solar Co., Ltd., together with its subsidiaries, engages in the design, development, manufacture, and marketing of photovoltaic (PV) products; and development of power plant projects. It offers solar-grade and semiconductor-grade polysilicon; and multicrystalline and monocrystalline solar wafers to the manufacturers of solar cells and solar modules. The company also provides wafer processing services to monocrystalline and multicrystalline solar cell and module manufacturers; and sells silicon materials, such as ingots and polysilicon scraps. In addition, it engages in the production and sale of solar cells and modules to developers, distributors, and system integrators; and design and development of solar power projects in Europe, the United States, and China, as well as provides engineering, procurement, and construction services. LDK Solar Co., Ltd. operates in Europe, the Asia Pacific, and North America. The company was founded in 2005 and is based in Xinyu City, t he People?s Republic of China.

Advisors' Opinion:

• [By Jonathan Yates]

  For investors looking to profit from shorting stocks in the sector, JA Solar Holdings (NASDAQ: JASO) and LDK Solar (NYSE: LDK) are both vulnerable. For those looking to go long, Exxon Mobil (NYSE: XOM) is very strong in natural gas, which is expected to increase its market share, according to a recent report from the Department of Energy.

• [By Paul Ausick]

  Big Earnings Movers: Tiffany & Co. (NYSE: TIF) is up 8.7% at $88.05 following positive results and a raised outlook. Barnes & Noble Inc. (NYSE: BKS) is down 6% at $15.45 as the bookseller watches its revenue slide. JA Solar Holdings Co. Ltd. (NASDAQ: JASO) is down 10.3% at $XX on a mixed earnings report and LDK Solar Co. Ltd. (NYSE: LDK) is flat at $1.60.

• [By Aa! ron Levitt]

  For many solar stocks — like LDK Solar (LDK) — Europe has been the traditional hot-spot for module sales. However, as austerity has gripped the region, PV subsidies have fallen by the wayside. That's caused many solar stocks to hurt pretty hard since the financial crisis. For CSIQ, the focus has moved from Europe to new demand drivers in Japan and China.

source from Top Stocks Blog:http://www.topstocksblog.com/top-10-oil-service-stocks-to-own-for-2014.html

Chili's cancels autism fundraiser over vaccine…

Chili's Grill and Bar canceled a national fundraising drive to support the National Autism Association, a not-for-profit group that links vaccinations to autism in some cases.

The Chili's fundraiser would have donated 10% of a table's check Monday to NAA, upon the guest's request, at more than 1,200 participating restaurants.

In an e-mailed statement, Chili's said it would find another way to support families affected by autism.

"While we remain committed to supporting the children and families affected by autism, we are canceling Monday's Give Back Event based on the feedback we heard from our guests," according to a Chili's Facebook page.

While we remain dedicated to giving back, we are canceling the 4/7 Give Back Event based on feedback from our guests. http://t.co/TpBQO8Hr04

— Chili's Grill %26 Bar (@Chilis) April 6, 2014

On its website, the National Autism Association states, "Vaccinations can trigger or exacerbate autism in some, if not many, children, especially those who are genetically predisposed to immune, autoimmune or inflammatory conditions."

However, NAA is not an anti-vaccination organization, said Wendy Fournier, president of the association, in an interview with USA TODAY Network.

MORE: Anti-vaccine movement giving diseases second life

"We're not saying vaccines are the cause of autism," Fournier said. "All we're saying on the vaccine issue is, like any other medical decision you make for your family, it should be made with all the information available."

The Centers for Disease Control and Prevention rejects the claim that vaccinations cause autism.

Chili's says it does not take a position on vaccinations.

"The intent of this fundraiser was not to express a view on this matter, but rather to support the families affected by autism," according to Chili's statement.

On Chili's Facebook page and on Twitter, commenters decried Chili's for choosing NAA for the fundraiser.

"Your giving money to an organiza! tion that encourages people not to vaccinate based on pseudo science is wrong & can lead to children's needless suffering and possibly even dying," one person wrote on Chili's Facebook page.

"Autism foundations need help, but find a responsible one that is committed to REAL science and really helping people. I won't be there on the 7th," another wrote.

Vaccines are an imperative. Don't eat at @Chilis this Monday. http://t.co/xuru1PWZQZ

— GeekDad Ken (@KenDenmead) April 6, 2014

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Would you like some preventable infections with your salsa? @Chilis funds anti-vax fringe group. 

CC @IDDocHymeshttp://t.co/5FiP7r0Z23

— Tim Lahey (@TimLaheyMD) April 6, 2014

Fournier said she was "really disappointed" about the decision to cancel the fundraiser based on feedback from "a small group of people." She said families would not be getting direct, immediate assistance to help deal with loved ones with autism.

"It scares the hell out of me something like this could happen and could prevent families from getting help they need," Fournier said.

In response to the news of Chili's cancellation of the fundraiser, NAA wrote on its Facebook page, in part: "Though NAA has changed our mission and efforts in recent years to focus on autism safety ... controversial views about vaccines remained on our website. ... We respect their decision and ask everyone to please speak words of love and kindness."

Follow @JolieLeeDC on Twitter.

The Party's Over for Cyclical Stocks

Top Consumer Stocks For 2014

Regardless of how or when the crisis in Washington ends, MoneyShow's Howard R. Gold believes it's become the right time to ease-up on stocks in the sensitive sectors.

No matter how the government shutdown and debt-ceiling debate are resolved—and they will be—the US economy is likely to plod along.

The 2008-2009 recession ended nearly four and a half years ago, but job growth remains anemic, while personal income has stagnated.

The Federal Reserve's expansive monetary policy—buying $85 billion worth of bonds each month—hasn't helped much. So, even if Fed chair-designate Janet Yellen is confirmed, it's unlikely more of the same easy money policy will produce better results.

Read Howard's analysis of why QE3 was a sign of failure on MoneyShow.com.

Those harsh realities, along with comments by a leading CEO at a conference I attended last week, have led me to conclude that it's time to lighten up on cyclical stocks, the economically sensitive sectors that have been such stalwart performers in a bull market now well into its fifth year.

The CEO was Terry Lundgren of Macy's (M), the nation's second largest department store chain, with 850 outlets throughout the US and 90% of the company's revenues coming from those Macy's stores, which serve middle-class Americans. (High-end retailer Bloomingdale's accounts for 10% of sales.)

"What's turned against us is what's turned against retail," he told journalists attending a conference of the Society of American Business Editors & Writers (SABEW) in New York.

"The consumer wasn't spending in the second quarter. The higher income consumer has bounced back. That mid-tier consumer is under stress."

"There's just not enough job creation going on," he concluded.

Lundgren's sober assessment is reflected in Macy's stock performance: It's off 15% from its all-time high above $50, which it hit in July. That followed an astonishing bull market rally of 865% from the lows, just above $5, in the depths of the financial crisis.

Macy's isn't alone. Apparel retailers Urban Outfitters (URBN) and The Gap (GPS) both have had sharp corrections after, respectively, tripling and more than quadrupling from their lows. Teen retailers Abercrombie & Fitch (ANF), Aeropostale (ARO) and American Eagle Outfitters (AEO) have had their clocks cleaned as even teenagers—the canaries in the coal mine of discretionary spending—have tightened their purse strings.

"I see a weak consumer," said analyst Rick Snyder of Maxim Group, who downgraded Macy's stock in August to Hold from Buy. He sees softness in every metric the retail industry tracks—mall traffic, comparable store sales, what have you. "That data has all been weak," he told me.

Asked if he was anticipating a second wind for retailers, he replied, "I don't think so. I think this is going to be a fairly poor holiday season." And he added, "I don't see anything coming next year that's going to turn that around."

The only retail stocks he likes now are high-end emporia like Saks (SKS), which has agreed to a buyout from Hudson's Bay, and off-price retailer Ross Stores (ROST), whose stock has risen 700% from its lows.

NEXT: Big runs for homebuilders

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