Why Chevron, JPMorgan, and Three Other Stocks Are in Spotlight Today

JPMorgan Could Potentially Move Thousands of Workers Due to Brexit

JPMorgan Chase & Co. (NYSE:JPM) is in the spotlight after CEO Jamie Dimon told Italian newspaper Il Sole 24 Ore that the company could be forced to relocate thousands of its workers out of Britain due to the country’s decision to leave the EU. Once Britain officially leaves the EU, it might lose the right to sell financial services to the single market, making it difficult for JP Morgan to serve its clients from that location. The relocation of thousands of highly paid bankers out of JP Morgan’s total 16,000 British workforce would be a blow to the British economy. The number of funds from our database with holdings in JPMorgan Chase & Co. (NYSE:JPM) fell by three quarter-over-quarter to 97 at the end of March.

Costco Turns in Strong Comps

Although the dollar might be strong, Costco Wholesale Corporation (NASDAQ:COST) is doing well. The bulk retailer’s net sales rose by 3% year-over-year in June to $11.33 billion. Same store sales were flat on a real basis and were up by 3% year-over-year on a fuel and foreign exchange adjusted basis. A total of 43 investors tracked by us had a bullish position in Costco Wholesale Corporation (NASDAQ:COST) at the end of March, up by one from the previous quarter.

Greenbrier Reports Earnings

Greenbrier Companies Inc (NYSE:GBX) is on watch after reporting earnings yesterday. Although the company’s fiscal third quarter EPS of $1.12 and revenue of $612.87 million beat analysts estimates by $0.03 and $13.34 million, respectively, Greenbrier’s full-year EPS guidance is a little softer than previously indicated. The company expects diluted EPS of $5.70 to $5.90 for the year, versus the previous $5.70-$6.1 range. Demand for rail cars has slowed due to the decline in crude and coal prices. At the end of March, 18 funds from our database were long Greenbrier Companies Inc (NYSE:GBX).

Disclosure: none