Afternoon BUZZERS: Apple Breaks This iPhone RECORD, JPMorgan Faces Money Laundering PROBE
Shares of Apple (NASDAQ:AAPL) are up around 1 percent today. The tech giant is off to a strong start with its latest iPhone. AT&T (NYSE:T) announced it set a sales record with the iPhone 5, due to consumers ordering more of the new unit than any previous iPhone on the first day of pre-orders. Overall, Apple said it sold more than 2 million units over the first 24 hours of pre-orders.
Netflix (NASDAQ:NFLX) shares are down over 5 percent this afternoon. The online streaming company may lose some A&E content if the two do not reach a deal by the end of the week. Storage Wars, Pawn Stars and Hoarders are some of the shows that may no longer be available via Netflix.
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JPMorgan Chase (NYSE:JPM) shares are down 0.5 perent this afternoon. The nation’s largest bank by assets is facing a money laundering probe. Reuters reports, “The probe appears to be focused on the systems and personnel that JPMorgan uses to safeguard against illicit money flows, the sources said, declining to be identified because they were not authorized to speak to the media. One specific angle of the probe is how the bank’s systems were set up to review a high volume of suspect transactions.”
Shares of General Motors (NYSE:GM) are down 1.33 percent today. The U.S. Treasury Department is supposedly unwilling to sell its stake in the automaker, because a sale would result in large investment losses. Earlier this year, GM reportedly floated a plan with Treasury officials to repurchase 200 million of the approximate 500 million shares held by the U.S. government of the company, with the Treasury selling the remaining shares via a public offering; the government is disinterested in GM’s offer at the current price.
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