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News For JPM;CS;DELL;PENN;SHF;FLO;DVAX;SHLD From The Last 14 Days Check below for free stories on JPM;CS;DELL;PENN;SHF;FLO;DVAX;SHLD the last two weeks. |
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| May 17, 2013 |
| 14:03 EDT |  | DELL | Market set to finish week with gains after Cisco results, comments
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| 08:29 EDT |  | DELL | JPMorgan's business and information services analyst holds a conference call
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| 08:02 EDT |  | DELL | Dell results could increase votes for Silver Lake offer, says Wells Fargo
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| 07:10 EDT |  | JPM | JPMorgan asks shareholders to reject chairman, CEO split, WSJ reports
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| 06:06 EDT | | JPM | On the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: A so-so Q1 earnings season hasn't dented investors' enthusiasm for stocks as prices have been rising, with the DJIA up 16% for the year and 4.2% since earnings season began April 8, the Wall Street Journal reports...JPMorgan Chase (JPM), in a last-ditch effort to beat back activist investors, sent a letter to shareholders who have yet to vote on the nonbinding proposal ahead of the May 21 annual meeting, urging them to reject a proposal to split the chairman and CEO roles held by James Dimon, the Wall Street Journal reports...REUTERS: Amazon.com (AMZN) will be called back to the British parliament to clarify how its activities in the U.K. justify its low corporate income tax bill, Reuters reports...J.C. Penney (JCP) CEO Ullman says that the department store chain is emerging from what he called an abyss but warned he needs time to fix the issues of the retailer, Reuters reports...BLOOMBERG: Apple (AAPL), which holds $102B in cash and investments outside the U.S., will suggest changes to corporate-tax laws to encourage companies to bring more cash into the country, Bloomberg reports...Fiat’s (FIATY) deliberations over moving its headquarters to the U.S. after a merger with Chrysler Group LLC. raised concern among Italian unions and politicians about the plans of the country’s biggest manufacturer. CEO Marchionne is considering the move because Fiat’s main sources of revenue and profit are shifting to North America, Bloomberg reports. |
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| May 16, 2013 |
| 18:01 EDT |  | DELL | Dell continues to expect 'relatively weak' demand in end-user PC business
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| 16:05 EDT |  | DELL | Dell reports Q1 enterprise solutions, services, software revenue up 12% to $5.5B
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| 16:02 EDT | | DELL | Dell not providing guidance for Q2
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| 16:01 EDT | | DELL | Dell reports Q1 adjusted EPS 21c, consensus 35c
Reports Q1 revenue $14.1B, consensus $13.52B. |
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| 15:14 EDT | | DELL | Notable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Dell (DELL), consensus 35c; Applied Materials (AMAT), consensus 13c; Nordstrom (JWN), consensus 76c; Autodesk (ADSK), consensus 45c; J. C. Penney (JCP), consensus (86c); SINA (SINA), consensus (3c); ViaSat (VSAT), consensus 2c; Brocade Communications (BRCD), consensus 15c; Aruba Networks (ARUN), consensus 15c. |
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| 13:58 EDT | | DELL | Earnings Preview: Dell facing uncertainty about going private ahead of Q1 report
Dell (DELL) is set to report Q1 earnings after the market close on Thursday, May 16, with a conference call scheduled for 4:45 pm ET. Dell is a global IT company that operates enterprise, business, and consumer segments. EXPECTATIONS: Analysts are looking for EPS of 35c on revenue of $13.52B, according to First Call. The consensus range for EPS is 28c-42c on revenue of $12.6B-$14.22B. A report by Dow Jones earlier this week said Dell will report non-GAAP EPS of 20c on revenue of about $14B. LAST QUARTER: Dell reported Q4 adjusted EPS of 40c against consensus for 39c on revenue of $14.3B against estimates for $14.12B. On its Q4 earnings conference call, the company said it expects continued margin pressure and market competitiveness in 2013. GO-PRIVATE NEWS: On February 5, Dell officially announced that it had agreed to be taken private for $13.65 per share by a consortium lead by Silver Lake. On March 25, Dell announced it had received two alternative proposals during its go-shop process, which began following its February 5 announcement. These proposals included a $14.25 per share offer from Blackstone (BX), and a $15 per share offer from Carl Icahn and affiliated funds, including Icahn Enterprises (IEP). On April 19, Dell announced that Blackstone decided not to submit a bid for the company. Last Friday, Icahn and Southeastern Asset Management, which collectively hold about a 13% stake in Dell, submitted an alternative proposal to Dell's board. The Icahn and Southeastern proposal would allow Dell shareholders to receive a $12 per share cash distribution or $12 of additional shares valued at $1.65 per share. On Monday, the special committee of Dell's board asked Icahn and Southeastern for more information related to proposal, while Icahn and Southeastern proposed a slate of directors to the company's board that same day. COMPANY NEWS: In addition to news surrounding the company's go-private proposal, data regarding global PC demand has also weighed on Dell. On April 10, data from IDC said worldwide PC shipments totaled 76.3M in Q1, a 13.9% decline from the prior year period, which was worse than the expected decline of 7.7%. IDC also added that this year-over-year decline was the worst since the firm began its quarterly tracking of the PC market in 1994. On March 28, data released by Gartner said worldwide IT spending is projected to increase 4.1% in 2013 to $3.8T. PRICE ACTION: Shares of Dell have slid more than 2.5% since the first day of trading following its Q4 report. Following the March announcement that Dell received alternative proposals from Blackstone and Icahn, shares closed as high as $14.51 per share. Through April, however, shares of Dell slipped, including a sharp decline after disclosing Blackstone withdrew its offer, with shares closing as low as $13.09 per share. In afternoon trading ahead of its Q1 report, shares of Dell are down 0.2%, to about $13.42. |
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| 13:57 EDT |  | DELL | Dell May 13 straddle priced for 1.7% move into Q1
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| 12:32 EDT | | CS | EU bank stress test delayed until 2014 by regulator
The EBA agreed on recommendations to supervisors to conduct asset quality reviews on major EU banks. While banks’ capital positions were significantly strengthened under the EBA’s recapitalisation exercise, the objective of the asset quality exercises will be to review banks’ classifications and valuations of their assets so to help dispel concerns over the deterioration of asset quality due to macroeconomic conditions in Europe. Since appropriately reviewed balance sheets are a key input to an effective stress test, the EBA has also adjusted the timeline of the next EU-wide stress test so to conduct the exercise in 2014 once the asset quality reviews are completed. However, to ensure transparency and comparability over the years, the EBA will provide, in 2H, appropriate disclosure on the actual exposures of the EU banking sector. Reference Link |
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| 12:01 EDT | | JPM | Bill Daley assisting JPMorgan over vote, CNBC's Tausche reports
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| 09:56 EDT | | FLO | Flowers Foods sees regulatory process for Hostess purchase complete in 2H
Flowers Foods said its proposed acquisition of Hostess assets is currently undergoing regulatory review and the company expects that process will be completed in the second half of the year. Flowers sees completing its roll-out of new Sara Lee business in California in early June and notes, when done, more than 77% of the U.S. population will have access to Flowers fresh baked products. Repeats unable to give full year guidance as of now due to Hostess transaction still being under regulatory review, but CEO George Deese said, "I can tell you that I believe it will be a record year and that it will meet or exceed our long-term objectives." Says forecast for FY13 input costs is still to be up approximately 3%-5% on a volume neutral basis year-over-year. Comments from Q1 earnings conference call. |
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| 09:19 EDT | | FLO | On The Fly: Pre-market Movers
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| 08:51 EDT | | JPM | JPMorgan management to meet with UBS
Meeting to be held in New York on May 16 hosted by UBS. |
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| 07:35 EDT | | JPM | J.C. Penney May volatility elevated at 106 into Q1
J.C. Penney May call option implied volatility is at 106, June is at 57, July is at 50; compared to its 26-week average of 62 according to Track Data, suggesting larger near term price movement in the expected release of Q1 results after the market close today. |
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| 06:41 EDT | | JPM | Big banks to benefit from U.S. concession on derivatives, NY Times says
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| 06:34 EDT | | FLO | Flowers Foods sees operating earnings 'strong' in Q2, delays FY13 view
R. Steve Kinsey, executive vice president and CFO, said, "We continue to be very optimistic about the outlook for FY13 and, in Q2, we are continuing to see very good sales growth. Q2 operating earnings also are expected to be strong, although we are experiencing start-up costs related to the integration of the Sara Lee business in California. Given that the Hostess transaction is currently under regulatory review, we are delaying FY13 guidance until the review is completed." |
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| 06:32 EDT | | FLO | Flowers Foods reports Q1 EPS ex-items 46c, consensus 42c
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| 06:12 EDT | | JPM | JPMorgan's Dimon has long helped select new board members, Reuters reports
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| May 15, 2013 |
| 17:03 EDT | | JPM | Soros gives quarterly update on stakes
NEW STAKES: MeadWestvaco (MWV), Brocade (BRCD), Red Hat (RHT), Liberty Global (LBTYK), and VMware (VMW). INCREASED STAKES: Google (GOOG), Liberty Global (LBTYA), EQT Corp (EQT), Charter (CHTR), and US Airways (LCC). DECREASED STAKES: Citigroup (C), AIG (AIG), Apple (AAPL), Invesco (IVZ), and Motorola Solutions (MSI). LIQUIDATED STAKES: JPMorgan (JPM), General Electric (GE), CF Industries (CF), Morgan Stanley (MS), and Capital One (COF). |
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| 16:48 EDT | | DELL | Icahn gives quarterly update on stakes
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| 15:11 EDT | | FLO | Notable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Wal-Mart (WMT), consensus $1.15; Kohl's (KSS), consensus 58c; Flowers Foods (FLO), consensus 42c; Brady Corp. (BRC), consensus 60c; Prestige Brands (PBH), consensus 35c. |
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| 12:30 EDT | | JPM | JPMorgan, Portugal in talks to resolve derivative contracts issue, Reuters says
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| 08:08 EDT | | DELL | PC sales decline in Western Europe, Economic Times reports
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| 06:53 EDT | | JPM | JPMorgan holders look unlikely to strip Dimon of chairmanship, FT says
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| 06:34 EDT | | JPM | JPMorgan CEO has obtained advice from Goldman counterpart, NY Times says
JPMorgan (JPM) CEO Jamie Dimon has spoken with his counterpart at Goldman Sachs (GS), Lloyd Blankfein, a number of times in recent months about the challenges that Dimon is facing, according to The New York Times, which cited unnamed sources. Reference Link J |
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| 06:15 EDT | | JPM | JPMorgan reports April net credit losses 3.49% vs. 3.48% last month
Reports April delinquency rate 1.70% vs. 1.80% last month. |
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| May 14, 2013 |
| 18:02 EDT | | JPM | JPMorgan vote to split CEO and Chairman role just above 40%, WSJ reports
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| 16:23 EDT | | DELL | On The Fly: Closing Wrap
Stocks on Wall Street were higher on a Tuesday again, keeping the strange "Tuesday in 2013" streak alive. Some positive domestic economic data and bullish commentary from Appaloosa Management's David Tepper set the tone early and the averages traded with an upward bias for almost the entire trading day. Today's advance means that every Tuesday this year has seen the market log gains, and investors will have to wait another week to see if the pattern continues. ECONOMIC EVENTS: The NFIB small business optimism index for April rose to 92.1, versus expectations for it to climb to 90.3 from its prior 89.5 reading. Import prices were reported to have declined 0.5% in April, which was in-line with expectations. Export prices declined 0.7%, versus a forecast for a 0.1% drop in the month. COMPANY NEWS: Dell (DELL) shares lost 6c, or 0.44%, to $13.46 after Dow Jones said the company will report first quarter non-GAAP earnings of 20c per share, 15c below current consensus estimates. That followed an earlier report from CNBC's David Faber, who also said the company will report earnings that miss expectations and accurately called that Dell has moved its report to Thursday, which is earlier than had been expected... Sony (SNE) shares added $1.87, or 9.9%, but closed off their best levels at $20.76 after the New York Times reported that Dan Loeb of Third Point has built a 6.5% stake and proposes that the company take its entertainment unit public. MAJOR MOVERS: Among notable gainers was InterOil (IOC), up $7.46, or 9.57%, to $85.39 after reporting its earnings and saying its talks with "major oil companies and a national oil company" about a potential LNG partnership are in the final stages. Also higher was SodaStream (SODA), up $6.79, or 11.85%, to $64.08 after at least two analyst firms raised their price target on shares following yesterday's analyst day presentations. Among noteworthy losers was Solar City (SCTY), down $4.44, or 12.37%, to $31.44 after the company's first quarter earnings missed expectations and the stock was downgraded by at least two firms. Also lower was Velti (VELT), down 29c, or 14.5%, to $1.71 after its revenue outlook fell below estimates. INDICES: The Dow was up 123.57, or 0.82%, to 15,215.25; the Nasdaq was up 23.82, or 0.69%, to 3,462.61; and the S&P 500 was up 16.57, or 1.01%, to 1,650.34. |
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| 14:01 EDT | | SHLD | Sears Holdings June volatility elevated
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| 13:18 EDT | | DELL | Dell to report Q1 non-GAAP EPS 20c, Dow Jones says
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| 12:35 EDT | | DELL | Dell holder Pzena prefers Icahn, Southeastern proposal, CNBC reports
Cites statement from Rich Pzena, who called the Icahn and Southeastern proposal "superior" to the "go-private" deal supported by founder Michael Dell. |
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| 11:18 EDT | | DELL | Dell earnings to miss consensus expectations, CNBC reports
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| 11:17 EDT | | DELL | Dell May volatility increases into Q1 and revenue outlook
Dell May call option implied volatility is at 33, June and July is at 14; compared to its 14-week average of 16 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on May 16. |
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| 11:13 EDT | | DELL | Dell moving up earnings announcement to Thursday, CNBC reports
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| 11:12 EDT | | DELL | Dell earnings expected to be below consensus, CNBC reports
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| 10:49 EDT | | DELL | Dell accuses optical disk drive makers of price-fixing, Bloomberg says
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| 08:33 EDT | | JPM | CFTC investigates swap contracts, FT reports
The Commodity Futures Trading Commission issued a “special call” asking Wall Street banks and other traders to provide documents that would prove recent derivatives transactions known as “exchanges of futures for swaps” were legal. Lawyers at the CFTC enforcement division are also scrutinizing the trades for possible violations. The probe is into the legitimacy of more than 1M energy and metals transactions by the biggest traders in commodities markets over the past two years.Reference Link |
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| 08:24 EDT | | JPM | David Tepper says has 'small position' in JPMorgan
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| 08:19 EDT | | DELL | David Tepper says Dell in tough business, no position in company
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| 07:28 EDT | | JPM | UBS to host a conference
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| 05:58 EDT | | JPM | JP Morgan volatility at low end of six-year range
JP Morgan May call option implied volatility is at 22, June is at 20, August and September at 19; compared to its 26-week average of 22 according to Track Data, suggesting non-directional price movement. |
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| 05:44 EDT | | DELL, JPM | Banks work deals from both sides of the field, WSJ reports
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| May 13, 2013 |
| 16:49 EDT | | DELL | Icahn, Southeastern to nominate several parties to Dell board
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| 16:25 EDT | | DELL | On The Fly: Closing Wrap
Stocks on Wall Street were little changed from their opening levels as investors weighed the potential end of the Fed's quantitative easing program against a better than expected report on retail sales. The Wall Street Journal's Jon Hilsenrath suggested in a report over the weekend that the Federal Reserve has mapped a QE exit strategy. The report paired with the retail sales data left the market lacking conviction in either direction today, as the averages spent the majority of the session range-bound near the flatline. ECONOMIC EVENTS: In the U.S., retail sales rose 0.1% in April, which beat expectations for a 0.3% decline. Retail sales excluding autos, gas, and building materials rose 0.6%, which was also better than expected. Business inventories were flat in March, versus expectations for a 0.3% gain. In Asia, Chinese factory output grew 9.3% annually in April, which was up from 8.9% in March but still missed expectations for a 9.5% growth rate. COMPANY NEWS: The Supreme Court ruled unanimously that Monsanto's (MON) patented genetically altered soybeans are protected and that farmers cannot use them to create new seeds without paying the company... Dell's (DELL) special committee publicly asked for more information from Carl Icahn and Southeastern Asset Management about their proposed leveraged recapitalization. This request follows television interviews by Icahn last Friday in which he discussed his Dell proposal, as well as a weekend report in Barron's saying the Icahn and Southeastern plan could be a better deal for shareholders. MAJOR MOVERS: Among the notable gainers was Theravance (THRX), up $6.26, or 17.92%, to $41.20 after Elan Corporation (ELN) bought a stake in the potential future royalty payments from four respiratory programs partnered with GlaxoSmithKline (GSK) in exchange for $1B in cash. Also higher was Tesla (TSLA), which rose $11.04, or 14.38%, to $87.80 in its third straight double-digit percentage gain following a better-than-expected earnings report last week. Among the noteworthy losers was Barnes & Noble (BKS), down $2.21, or 9.48%, to $21.10 after the blog InsiderMonkey disputed a previous report about Microsoft's (MSFT) interest in the bookseller's NOOK assets. Also lower was JoS. A. Bank (JOSB), down $3.31, or 7.16%, to $42.90 after the company's first quarter earnings view came in below expectations. INDICES: The Dow was down 26.81, or 0.18%, to 15,091.68; the Nasdaq was up 2.21, or 0.06%, to 3,438.79; and the S&P 500 was nearly unchanged at 1,633.77. |
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| 15:04 EDT | | JPM | Fed says large banks must submit midyear stress tests on July 5
Eighteen large U.S. bank holding companies are required to submit the results of their company-run, midyear stress tests to the Federal Reserve on July 5, the Federal Reserve said. The Dodd-Frank Wall Street Reform and Consumer Protection Act required that large bank holding companies and non-bank financial institutions that are designated for Federal Reserve supervision by the Financial Stability Oversight Council conduct two stress tests each year. In the midyear test, which is being conducted for the first time in 2013, each firm develops its own baseline, adverse, and severely adverse scenarios to best reflect its individual operations and risks. Each firm in the midyear test is required to release the results produced under its severely adverse scenario, helping promote market discipline and understanding of the financial conditions and risks of individual firms, between September 15 and September 30, the Fed added. |
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| 12:20 EDT | | DELL | On The Fly: Midday Wrap
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| 07:41 EDT | | JPM | Dimon role may be decided by board director Raymond's view, NY Times reports
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| 07:22 EDT | | DELL | Dell special committee asks for more info from Icahn, Southeastern Asset
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| 07:17 EDT | | DELL | Dell special committee asks for more info from Icahn, Southeastern Asset
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| 07:07 EDT | | JPM | JPMorgan shares offer good value, says Bernstein
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| 06:49 EDT | | CS | ECB member says negative deposit rates would help economy, Reuters says
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| 06:22 EDT | | JPM | JPMorgan's Dimon has considered leaving the bank, WSJ reports
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| May 12, 2013 |
| 18:35 EDT | | DELL | Carl Icahn's newest offer could be better deal for Dell holders, Barron's says
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| May 10, 2013 |
| 16:29 EDT | | DELL | On The Fly: Closing Wrap
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| 14:21 EDT | | PENN | Penn National submits proposal for $700M casino at Rosecroft Raceway
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| 14:21 EDT | | JPM | JPMorgan directors recommend against splitting Chairman, CEO roles
Two of JPMorgan's directors, Lee Raymond and William Weldon, sent a letter to shareholders of the bank urging for re-election of all its existing directors and supporting Jamie Dimon continuing as both Chairman and CEO. The directors, who identified themselves as the Presiding Director and the Chairman of the Corporate Governance & Nominating Committee, stated: "We believe that a vote against our current Directors or a vote to permanently separate the Chairman and CEO positions could be disruptive to the Company and is not in shareholders’ best interests," according to a copy of the letter posted online by Financial Times. Reference Link |
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| 14:04 EDT | | PENN | New Jersey reports Atlantic City casino win $228.5M in April
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| 13:07 EDT | | DELL | Dell committee says 'carefully reviewing' Icahn, Southeastern proposal
Dell's Special Committee issued a statement regarding a proposal it has received from Carl Icahn and Southeastern Asset Management. The statement read: "Mr. Icahn and Southeastern have outlined a potential leveraged recapitalization transaction that they want the Dell Board either to recommend at this time or to consider if the existing going-private transaction is rejected by Dell shareholders. They have also proposed replacing the Board with a slate of new directors who they say would approve such a transaction. Consistent with the Special Committee’s goal of achieving the best possible outcome for all shareholders, we and our advisors are carefully reviewing the potential transaction to assess the potential risks and rewards to the public shareholders." |
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| 13:05 EDT | | DELL | Dell committee says 'carefully reviewing' Icahn transaction
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| 12:51 EDT | | DELL | Carl Icahn: 'I've made fortunes going against Jim Chanos'
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| 12:47 EDT | | DELL | Icahn says if board is elected, Michael Dell won't run Dell
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| 12:46 EDT | | DELL | Icahn says would personally put up over $2B for Dell bridge loan if needed
Carl Icahn is speaking on CNBC. |
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| 12:42 EDT | | DELL | Icahn says 'not looking to make a dollar' on Dell shares
Carl Icahn is speaking on CNBC. |
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| 12:39 EDT | | DELL | Icahn says proposing full slate of 12 Dell board members on Monday
Carl Icahn is speaking on CNBC. |
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| 12:37 EDT | | DELL | Icahn says Dell needs change in culture
Carl Icahn is speaking on CNBC. |
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| 12:31 EDT | | DELL | On The Fly: Midday Wrap
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| 09:33 EDT | | PENN | Nevada reports March Las Vegas Strip gaming win up 13% to $507.6M
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| 09:32 EDT | | PENN | Nevada reports March statewide gaming win up 7% to $914.78M
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| 07:14 EDT | | SHLD | Sears Holdings volatility at low end of two-year range
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| 06:15 EDT | | DELL | Icahn reports 4.52% stake in Dell, sends buyout proposal to board
Carl Icahn disclosed a 4.52% stake in Dell as well a letter sent to the company's board offering an alternative buyout proposal. The letter stated in part, "We are a group of Dell Inc. shareholders that own in the aggregate approximately 13% of the outstanding shares of Dell Inc. From the announcement of the Agreement and Plan of Merger, dated as of February 5, 2013 we have stated repeatedly that we believe that the Going Private Transaction is not in the best interests of Dell shareholders and substantially undervalues the company. As a result, we will vote against the Going Private Transaction." The group's proposal gives shareholders the right to continue as owners and keep their existing equity position in Dell. The shareholders would also be given the opportunity to elect to receive a distribution of $12 per share in cash or $12 in additional shares valued at $1.65 per share. Icahn and Southeastern said they would both elect to receive additional shares rather than cash. Both investors said financing for their proposal would be obtained from Dell's existing cash and $5.2B in new debt. Icahn and Southeastern believe their proposal is superior to Dell's going private transaction. |
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| 06:08 EDT | | DELL | Carl Icahn discloses 4.52% stake in Dell, proposal letter to board
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| 06:03 EDT | | DELL | Icahn, Southeastern propose alternative buyout for Dell, WSJ reports
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| May 9, 2013 |
| 18:08 EDT | | SHLD | Sears to launch lease-to-own program, AP reports
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| 17:12 EDT | | JPM | JPMorgan sued by California for "fraudulent, unlawful debt-collection practices"
Attorney General Kamala D. Harris filed an enforcement action against JPMorgan Chase alleging that the bank engaged in fraudulent and unlawful debt-collection practices against tens of thousands of Californians. The suit alleges that Chase engaged in widespread, illegal robo-signing, among other unlawful practices, to commit debt-collection abuses against approximately 100,000 California credit card borrowers over at least a three-year period. Chase used California’s judicial system as a mill to obtain default judgments, the suit alleges, using illegal tactics to flood the state’s court system in order to secure default judgments and garnish wages from Californians. Reference Link |
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| 15:20 EDT | | SHLD | Rent-A-Center down over 1% after report of Sears starting lease-to-own program
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| 15:18 EDT | | SHLD | Sears starting lease-to-own program beginning this month, DJ reports
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| 11:01 EDT | | SHLD | Sears Holdings names Jeff Balagna Chief Information Officer
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| 08:09 EDT | | JPM | JPMorgan, Bank of America had perfect trading records in Q1, Bloomberg reports
JPMorgan Chase (JPM) and Bank of America (BAC) had perfect trading records in the first quarter, making money every day of the period as Morgan Stanley (MS) posted losses in eight sessions and Goldman Sachs (GS) in two, reports Bloomberg. One daily gain at JPMorgan was over $200M as the bank recovered from last year’s London Whale derivatives loss, the company said in a regulatory filing. Reference Link |
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| 07:35 EDT | | JPM | Platts to host a conference
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| 06:40 EDT | | JPM | Calpers to support separation of chairman, CEO roles at JPMorgan, NY Times says
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| 05:54 EDT | | DELL | Stocks with implied volatility movement; DELL BAX
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| 05:43 EDT | | JPM | Big banks take the offense against Washington, WSJ reports
The biggest U.S. banks are going on the offensive to fight off growing efforts in Washington to rein them in, reports the Wall Street Journal. They've hired longtime, influential Washington insiders to deflect regulatory and political pressure to strengthen their finances and to sell assets. Reference Link |
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| 05:39 EDT | | JPM | JPMorgan looks for more board directors for its risk committee, WSJ reports
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| May 8, 2013 |
| 19:52 EDT | | JPM | JPMorgan discloses receipt of Wells-type notice from FERC
In a regulatory filing, JPMorgan disclosed that the Federal Energy Regulatory Commission is investigating the firm’s bidding practices in certain organized power markets. In March, the firm received a Wells-type notice that the FERC staff intends to recommend that the Commission bring a possible enforcement action against J.P. Morgan Ventures Energy, JPMorgan Chase, and certain firm personnel relating to alleged violations of FERC rules and the rules of certain independent system operators. Additionally, in November 2012, the FERC issued an order suspending JPMVEC’s market-based rate authority for six months commencing on April 1, based on its finding that statements concerning discovery obligations made in submissions related to the FERC investigation violated FERC rules regarding misleading information. |
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| 16:18 EDT | | JPM | FERC delivers 'wells-type' notice to JPMorgan on energy probe, Bloomberg reports
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| 10:57 EDT | | JPM | ICU Medical jumps after report says company considering sale
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| 10:20 EDT | | JPM | JPMorgan chooses Bisso to run North America investment office, Bloomberg says
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| 09:45 EDT | | JPM | JPMorgan named Erik Bisso as CIO for North America, Bloomberg reports
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| May 7, 2013 |
| 10:56 EDT | | JPM | Second firm recommends JPMorgan split CEO, Chairman roles, FT reports
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| 10:28 EDT | | JPM | JPMorgan may cut commodity trader jobs in London, Dubai, Bloomberg says
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| 07:10 EDT | | JPM | Three major JPMorgan shareholders undecided on Dimon's roles, WSJ reports
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| 06:07 EDT | | JPM | On the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: Some of the world's biggest handset makers and telecom carriers are embracing alternative mobile operating systems this year in an attempt to become credible challengers to smartphones run by Apple (AAPL) and Google (GOOG), the Wall Street Journal reports...JPMorgan Chase (JPM) has yet to persuade three of its largest shareholders--BlackRock (BLK), Vanguard Group and Fidelity Investments--to back the company in a coming vote over whether James Dimon should retain his dual role of chairman and CEO, the Wall Street Journal reports...REUTERS: SoftBank (SFTBF) President Masayoshi Son said he will go to the U.S. today to meet Sprint Nextel’s (S) major shareholders about the Japanese company's takeover bid, after rival bidder Dish Network (DISH) said a U.S. company would make a better suitor., Reuters reports...Microsoft (MSFT) has sold 100M Windows 8 licenses in the six months since launch, but wants to combat sputtering interest in its flagship software with a substantial update to make it easier to use, and compatible with smaller tablets, Reuters reports...BLOOMBERG: Rio Tinto (RIO) will likely pursue a $5B expansion of its iron ore output in Australia, CEO Sam Walsh said, according to two people present at a meeting with investors and analysts, Bloomberg reports...Saudi Arabia, home to the biggest Arab bourse, seeks to boost institutional investments in its $390B stock market as the top OPEC producer weighs plans to allow foreigners to buy shares directly, Bloomberg reports. |
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| 06:01 EDT | | JPM | Antero Resources, controlled by Warburg Pincus, plans IPO, Reuters reports
Denver-based Oil and gas company Antero Resources, controlled by Warburg Pincus LLC, is preparing for an IPO that could value it at as much as $10B, sources say, reports Reuters. Antero hired Barclays (BCS), JP Morgan Chase (JPM) and Citigroup (C) to lead the deal, sources added. Reference Link |
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| 05:50 EDT | | JPM | Mortgage lenders ease standards for 'prime' borrowers, WSJ reports
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| May 6, 2013 |
| 16:02 EDT | | DVAX | Dynavax reports Q1 EPS (11c), consensus (9c)
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| 10:04 EDT | | DELL | Dell acquires enterprise cloud-management company Enstratius
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| 07:43 EDT | | DELL | Icahn looks for Dell board fight, NY Post reports
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| 07:34 EDT | | DVAX | Conference Forum to host a summit
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| 06:12 EDT | | CS | Credit Suisse alleges Goldman Sachs hire stole secrets, Bloomberg reports
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| 06:07 EDT | | JPM | Warren Buffett says JPMorgan has the 'right CEO'
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| May 5, 2013 |
| 19:20 EDT | | JPM | N.Y AG plans homeowner enforcement versus financial firms, Bloomberg reports
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| 13:21 EDT | | JPM | ISS suggests JPMorgan holders reject three directors, Reuters says
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| May 4, 2013 |
| 10:28 EDT | | DELL | Valuations could continue to drive tech stocks higher, Barron's says
Despite lackluster earnings reports, the technology sector continues to rally on attractive valuations and bullish investors, Barron's contends in its Technology Trader column. Reference Link |
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