JPMorgan Chase & Co. (JPM), Bank of America Corp (BAC): Shares Rise Despite More Problems for Two Major Banks

Shares of Intel Corporation (NASDAQ:INTC) jumped 1.09% today after the stock gained 1.2% yesterday on the back of an upgrade. Today’s move higher could be the result of both the upgrade and the announcement that Intel plans to ship out its new LTE multimode chips this month. The market is dominated by Qualcomm, which controls 97% of the broadband market for LTE. While that is a massive amount and surely Qualcomm isn’t just going to give away the business, that does mean that Intel Corporation (NASDAQ:INTC) will only have to present a better product than Qualcomm and not a slew of other competitors. Also, it might indicate that the market may be ready for another player, and that would help control prices.

 The article Shares Rise Despite More Problems for Two Major Banks originally appeared on Fool.com and is written by Matt Thalman.

Fool contributor Matt Thalman owns shares of Bank of America Corp (NYSE:BAC) and JPMorgan Chase & Co. (NYSE:JPM). Check back Monday through Friday as Matt explains what caused the Dow’s winners and losers of the day and every Saturday for a weekly recap. Follow Matt on Twitter @mthalman5513. The Motley Fool recommends and owns shares of Bank of America and Intel. It also owns shares of JPMorgan Chase.

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