Market Updates: JPMorgan Chase (NYSE:JPM), Goldman Sachs (NYSE:GS), McDonald’s (NYSE:MCD), General Electric (NYSE:GE), Citigroup (NYSE:C)

JPMorgan Chase (NYSE:JPM) and Goldman Sachs (NYSE:GS) may be forced to sell some private-equity businesses and stop investing in buyouts under a proposal by President Barack Obama to limit bets made by banks with their own capital. Obama asked Congress yesterday to prohibit banks from owning or making investments in private-equity and hedge funds that “are unrelated to serving customers.” -Bloomberg

McDonald’s (NYSE:MCD) stated that its fourth-quarter net income rose to $1.22 billion, or $1.11 per share, from $985.3 million, or 87 cents per share, in the year-earlier period. The fourth-quarter results included a 7-cent benefit from foreign currency translations and an 8-cent benefit tied to resolution of certain liabilities, the company disclosed. Revenue rose to $5.97 billion from $5.57 billion. Analysts, on average, estimated the fast-food giant to earn $1.01 a share with revenue of $5.92 billion. Comparable sales rose 2.3% with all segments reporting positive results, the company said. -MarketWatch

General Electric (NYSE:GE) posted a 19-percent drop in fourth-quarter earnings, hindered by lower profits on products like jet engines and continuing troubles in commercial real estate lending. GE chief executive Jeffery Immelt stated that the company saw signs of improvement at the end of the year and that orders for some of its equipment grew in the fourth quarter. But overall revenue still fell 10 percent to $41 billion in the quarter. The company posted net income of $2.94 billion, or 28 cents per share. That compared with $3.65 billion, or 35 cents, a year earlier. Analysts expected 26 cents per share in earnings. –Daily Finance

The U.K. and European IPO markets largely shut down during the financial crisis and have yet to fully emerge from their slumber. Last year, there were just 11 IPOs listed in London for a combined value of $1.7 billion. That was down 85% from 2008, and the lowest U.K. listed IPO volume on record, according to Dealogic. Global IPO volume so far this year stands at a hefty $5.6 billion, but that’s mostly driven by China, which accounts for nearly 80% of the activity. –The Wall Street Journal

Citigroup (NYSE:C) analyst Timothy Arcuri downgraded a slew of semiconductor equipment stocks, stating that "chip inventory is building ahead of a potentially risky Q2 based on recent seasonal trends." Arcuri also disclosed that capital expenditures in the first half of 2010 will be greater than expected. He expects as much as 30% correction within this group of stocks. He also cut his ratings on KLA Tencor (KLAC), Brooks Automation (BRKS), Entegris (ENTG) and Advanced Energy Industries (AEIS) to sell from hold. Additionally, he downgraded Novellus (NVLS) and Applied Materials (AMAT) to hold from buy. –MarketWatch