DJIA Week in Review: Avengers Director Makes Marvel Deal, McDonald’s New Discount Trend
Exxon Mobil Corporation (NYSE:XOM) The United States government plans to urge such donors as China and the Arab states to help with the $3 billion bill that accrued subsequent to Sudan and South Sudan reaching an accord over the weekend on an agreement that puts them back on the path towards peace, and potentially frees up oil production in the region, mediators and diplomats said to the Financial Times.
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The Walt Disney Company (NYSE:DIS) says that Joss Whedon, who wrote and directed Disney’s blockbuster The Avengers, has made an exclusive deal with Marvel Studios for work in film and television through the end of June 2015, according to The Los Angeles Times.
General Electric Co. (NYSE:GE): The United Kingdom expects to construct a total of eight new nuclear reactors on its territory. Some of them will supplant nuclear generators that are being retired, says The New York Times.
Hewlett-Packard Company (NYSE:HPQ) reports that it has named Mike Nefkens, currently senior vice president and general manager of HP Enterprise Services, to lead the division on an acting basis, while John Visentin, who previously ran HP ES, will be exiting the firm in order to pursue other interests. Additionally, Hewlett-Packard says that Senior Vice President and Chief Financial officer Jean-Jacques Charhon of the Enterprise Services, was named Chief Operations Officer for the unit. Charhon will concentrate on improving customer satisfaction and service delivery efficiency, both of which are expected drive profitable growth, while Nefkens will be responsible for accelerating growth and innovation for HP’s applications, business processing and outsourcing services. In addition, Nefkens will report directly to Chief Executive and President Meg Whitman.
JPMorgan Chase & Co. (NYSE:JPM) A large list of banks was used for the divestiture of a big block of American International Group Inc. (NYSE:AIG) shares by the United States Treasury, which was the same as the list on an earlier sale in May, reports the Wall Street Journal, citing the final prospectus from AIG. This sale is the first time in four offerings that AIG and the Treasury remained with the same underwriters in two successive deals.
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Chevron Corporation (NYSE:CVX): Saudi Arabia pumped 9.8 million barrels of crude oil per day in July, which shrank production by 300,000 barrels per day compared to June, said an industry source to Reuters.
The Walt Disney Company’s (NYSE:DIS) extended period of heavy capital investment in its theme park, resorts, cruise ships and intellectual property is nearing its completion, says Barron’s, and the end of such expenditures will provide sufficient cash that should help the company generate attractive returns. In addition, Disney is equally optimistic concerning its future prospects, as exhibited by its 50 percent annual-cash-dividend rise that was announced in December.
The General Electric Company (NYSE:GE) is cooperating with the United States Consumer Product Safety Commission, as they announced a voluntary recall of approximately 1.3 million GE, GE Adora, GE Eterna, GE Profile and Hotpoint, Dishwashers when it was discovered that electrical failures in the dishwasher’s heating element could present a fire hazard. The company has received some 15 reports of the failures, including seven reports of fires, and three of them caused extensive property damage. Fortunately, no injuries have been reported.
Hewlett-Packard Company (NYSE:HPQ) divulged on Wednesday that it would take an $8 billion charge related to its purchase of Electronic Data Systems, but the company has spent quite large amounts of money on such acquisitions over the last decade with few results to show for them, according to The New York Times.
Intel Corporation (NASDAQ:INTC) is stepping up its solid state drive development using datacenter applications along with the development of High Endurance Technology, say sources from end-side players to DigiTimes, who also remarked that the datacenters could emerge as the new battlefield for SSD players after the ultrabook market.
JPMorgan Chase & Co. (NYSE:JPM) has divulged in its revised 10-Q that on Wednesday, it was informed by the Office of the Comptroller of the Currency and the Federal Reserve Bank of New York that they had decided that the Firm and JPMorgan Chase Bank, N.A. should modify their respective Basel I risk weighted assets at March 31st. The decision is regarding an adjustment to the Firm’s regulatory capital ratios to reflect regulatory guidance concerning a limited number of market risk models that are utilized for certain positions held by the Firm during the first quarter, including the CIO synthetic credit portfolio. However, the Firm says that as a result of portfolio management actions and enhancements, it will be making to certain of its market risk models and these adjustments will be significantly decreased by the end of the current year. Further, because of the banking regulators’ ruling, the Firm’s consolidated Basel I Tier 1 common ratio, Basel I Tier 1 capital ratio, and Basel I total capital ratio have been revised to 9.8 percent, 11.9 percent, and 14.9 percent respectively.
Microsoft Corporation (NASDAQ:MSFT) is cooperating with New York City Mayor Michael R. Bloomberg and Police Commissioner Raymond W. Kelly to develop the Domain Awareness System which is designed to provide the cutting edge of crime prevention and counter-terrorism tech capabilities to worldwide law enforcement, public safety and intelligence agencies and others. The NYPD teamed with Microsoft to develop the system which compiles and analyzes public safety data in real time, allowing NYPD investigators and analysts a comprehensive view of potential threats and criminal activity.
AT&T, Inc. (NYSE:T): Shares of Sprint Nextel Corporation (NYSE:S) move up subsequent to the disclosure in a regulatory filing Wednesday afternoon that the company’s President of Strategic Planning and Initiatives, Keith Cowan, would leave his post effective September 30th. According to The Wall Street Journal, Cowan is Sprint’s lead mergers and acquisitions executiv and Cowan’s exit ignites chatter on the Street that Sprint might expect to merge with or purchase Deutsche Telekom’s (DTEGY) T-Mobile division. Sprint Chief Executive Dan Hesse noted in February that the collapse of the proposed merger between AT&T and T-Mobile allowed T-Mobile’s spectrum to be once again available to his company, and also allowed “many more options for Sprint.”
Verizon Communications Inc. (NYSE:VZ) said Wednesday that customers will now have greater access to its F Long Term Evolution (LTE) network in the Cincinnati area, upon expansion on August 16th.
Wal-Mart Stores Inc. (NYSE:WMT) division Sam’s Club and GE Capital Retail Bank (NYSE:GE) reported that they have reached a multi-year agreement to continue the provision of the Sam’s Club credit card program to their Advantage and Business Members.
Exxon Mobil Corp. (NYSE:XOM): Saudi Arabia pumped 9.8 million barrels of crude oil per day in July, which shrank production by 300,000 barrels per day compared to June, said an industry source to Reuters.
Boeing Co. (NYSE:BA): Additional radar systems along with command, control, and communications systems will have to be brought into in certain parts of the Middle East as the United States and its Arab allies develop a missile defense system for the region that is aimed at protecting various targets from attacks by Iran, according to The New York Times.
Bank of America Corporation (NYSE:BAC) Merchant Services has been used by Starbucks Corporation (NASDAQ:SBUX) to process cards, but the coffee giant will now shift all of those transactions to Square, regardless of whether consumers pay with Square’s mobile application, said a Starbucks spokesperson to Business Insider. JP Morgan Chase & Co. (NYSE:JPM) invests in Square and Square uses the firm’s subsidiary to process debit and credit transactions, according to the report.
Caterpillar Inc. (NYSE:CAT) has begun exporting machinery manufactured in China to the Middle East and Africa as a part of its plan to offset a slump in China’s economic growth, according to Reuters.
Cisco Systems, Inc. (NASDAQ:CSCO) NDS, part of Cisco along with Canal Digital, a top DTH pay-TV provider in the Nordic countries, said Thursday that they are partnering to introduce a next-generation TV platform as a hosted, managed service. This new platform should allow both satellite and Over-the-Top service delivery and will enable Canal Digital subscribers to access content at any time, anywhere and on multiple devices as well whether at home or not.
American Express Company (NYSE:AXP): The Mobile Payments Committee has been formed by trade group Electronic Transactions Association and the former will develop policy and business strategies for the mobile payments industry, according to a Thursday report by VentureBeat. All four of the major domestic telecom carriers, plus eBay’s (NASDAQ:EBAY) PayPal, Isis with its major credit card companies, VeriFone (NYSE:PAY), and Google (NASDAQ:GOOG) are all represented in the group, and a Verizon (NYSE:VZ) executive will be chair.
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Boeing Co. (NYSE:BA): Defense Minister Celso Amorim of Brazil reports that the economic slump has set back his country’s decade-old decision to acquire a new generation of fighter jets, according the Wall Street Journal. The delay impacts the product of three firms: the F/A-18 Super Hornet from Boeing; the Gripen NG made by Saab AB of Sweden; and the Rafale warplane manufactured by Dassault Aviation SA of France.
Bank of America Corporation (NYSE:BAC) is one of the companies that is taking advantage of the new popularity of mobile banking by launching updated mobile banking applications for the Apple‘s (NAS: AAPL) iPad and iPhone, along with Google‘s Android-based tablets and smartphones. More specifically, the update allows users to deposit checks into their accounts by using their device’s camera to photograph the front and back of the check.
Chevron Corp. (NYSE:CVX): Iraq is once again Opec’s second-largest oil producer for the first time since the late 1980s as the impact of sanctions on Iran kick in, reports the Financial Times. Iraq last month pumped more than 3 million barrels per day, while at the same time Iran pumped 2.9 million barrels, says the International Energy Agency.
JPMorgan Chase & Co. (NYSE:JPM): New regulations that will be proposed by the Consumer Financial Protection Bureau for the mortgage-servicing industry might cut back profits that banks obtain form their loan collection businesses, says the Wall Street Journal. If enacted, the rules could transfer such work to more specialized firms.
McDonald’s Corp. (NYSE:MCD): It’s the return of restaurant discounts and special offers, following a recent sales slump, at some of the country’s most popular chains. This new trend could negatively impact industry profits at a time when food commodity costs are ready to rise, according to Reuters.
Microsoft Corporation (NASDAQ:MSFT): Global consumer spending on video games on connected televisions is predicted to grow quickly to $1.6 billion in 2016, which is up from $88 million this year. This trend is pushed by a combination of the soaring adoption of Internet-enabled TV devices, the increasing availability of free-to-access games and the taking apart of market stumbling blocks that involve hardware capability, user interface and middleware fragmentation, according to iSuppli.
Pfizer Inc. (NYSE:PFE) reports that the Phase 3 INTORACT trial, studying the combination of bevacizumab plus Torisel compared with bevacizumab plus interferon-alfa-2a in the first-line treatment of patients suffering from advanced renal cell carcinoma across risk groups, failed to meet its primary endpoint of superiority in extending progression free survival in the study’s population. Further, additional efficacy endpoints and safety data for the combination treatments in both arms are being evaluated and will be presented to an upcoming medical congress.
EI DuPont de Nemours & Co. (NYSE:DD): A United States Department of Agriculture comment in the most recent World Agricultural Supply and Demand Estimates report said that domestic feed grain supplies for 2012/13 are once again forecast notably lower for August, with corn production projected to be down 2.2 billion bushels and sorghum production 92 million bushels lower. The expected domestic corn yield is decreased by 22.6 bushels per acre to 123.4 bushels, as the effects of heat and dryness continued and worsened during July across the Plains and Corn Belt. As anticipated, the 2012/13 corn yield would likely be the lowest since 1995/96. In addition, corn area harvested for grain is also down by 1.5 million acres from the last month’s forecast which was based on the June Acreage report.
The General Electric Company (NYSE:GE) will acquire Naxys, which provides sub-sea leak detection and condition monitoring sensors that are based on passive acoustic tech. The purchase, upon approval, should further ramp up the company’s monitoring and sensing solutions and will become a part of its Measurement & Control division. This acquisition is another step towards a stronger GE footprint in Norway.
Hewlett-Packard Company (NYSE:HPQ) Chief Executive Meg Whitman went to Australia last week to try to mend the company’s relations with a client that suffered a technology disaster, according to inside sources to AllThingsD. An Australian technology blog reported that Commonwealth Bank suffered service disruptions to several branches from to a failure in Hewlett-Packard’s operating system patch.
International Business Machines Corp. (NYSE:IBM) is looking at Research In Motion Limited’s (NASDAQ:RIMM) enterprise services unit, say sources to Bloomberg, and is said to have made an informal approach about possibly buying the unit which operates a network of secure servers that are used to support RIM’s BlackBerry devices.
AT&T, Inc. (NYSE:T): The Mobile Payments Committee has been formed by trade group Electronic Transactions Association, and the former will develop policy and business strategies for the mobile payments industry, according to a Thursday report by VentureBeat. All four of the major domestic telecom carriers, plus eBay’s (NASDAQ:EBAY) PayPal, Isis with its major credit card companies, VeriFone (NYSE:PAY), and Google (NASDAQ:GOOG) are all represented in the group, and a Verizon (NYSE:VZ) executive will be chair.
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Verizon Communications Inc. (NYSE:VZ) Verizon Wireless tops its industry in customer loyalty among American wireless customers having postpaid contracts for the ninth straight quarter. In addition, the company boasted the lowest customer churn rate (0.84 percent) of any of the United States’ major wireless providers in the second quarter of 2012.
Exxon Mobil Corp. (NYSE:XOM): Iraq is once again Opec’s second-largest oil producer, for the first time since the late 1980s, as the impact of sanctions on Iran kick in, reports the Financial Times. Iraq last month pumped more than 3 million barrels per day, while at the same time Iran pumped 2.9 million barrels, says the International Energy Agency.
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