Dow Jones News: JPMorgan Chase Reports Strong Results; Amazon Wants to Stop Microsoft From Working on JEDI
The stock market was mixed Tuesday morning, but the Dow Jones Industrial Average (DJINDICES: ^DJI) had managed a 0.2% gain by 11:05 a.m. EST. An impressive fourth-quarter report from JPMorgan Chase (NYSE: JPM) helped drive the Dow higher.
Microsoft (NASDAQ: MSFT) stock failed to ride the Dow higher, possibly due to news that cloud computing rival Amazon.com (NASDAQ: AMZN) planned to file a motion to block it from working on the massive Joint Enterprise Defense Infrastructure (JEDI) government cloud contract.
Shares of JPMorgan were up 2.1% Tuesday morning after the megabank easily beat analyst expectations with its fourth-quarter results. Total revenue was $28.3 billion, up 8.4% year over year and $610 million higher than the average analyst estimate.
Source Fool.com
