Why Traders Are Talking About Chipotle, JPMorgan, and 3 Other Stocks Today

Traders are talking about JPMorgan Chase & Co. (NYSE:JPM) today after analysts at Macquarie downgraded the stock to ‘Neutral’ from ‘Outperform’. The analysts don’t think JPMorgan’s valuation offers as much upside anymore given the stock’s strong rally since February. The analysts also think the interest rate environment for JPMorgan will remain challenging in the near-term. 99 funds that we track owned shares of JPMorgan Chase & Co. (NYSE:JPM) at the end of June, up by two funds quarter-over-quarter. Despite the downgrade, shares of JPMorgan are roughly flat on the day.

Deutsche Bank AG (USA) (NYSE:DB) shares have spiked by 3.75% after the German monthly magazine, Manager Magazin, wrote that the bank is expected to settle with U.S. regulators for over $2.4 billion over cases concerning the previous misselling of mortgage-backed securities. The settlement will remove some uncertainty around the bank stock and help Deutsche Bank control its litigation costs. Analysts were originally anticipating the bank to settle the case for $3.4 billion. 15 funds in our system had a long position in Deutsche Bank AG (USA) (NYSE:DB) at the end of the second quarter.

According to Reuters, Chipotle Mexican Grill, Inc. (NYSE:CMG) has agreed to settle with over 100 customers who were stricken with food poisoning after eating at the burrito chain last year. Although the terms of the settlements are confidential, many investors believe the move to settle is the right thing to do, as it will allow Chipotle to move on from the food safety events and help its management focus on increasing same-store sales again. 39 funds had a long position in Chipotle Mexican Grill, Inc. (NYSE:CMG) as of the most recent 13F reporting period, and Bill Ackman took a $1.2 billion position in the company earlier this month.

Disclosure: None