DJIA Week in Rewind: Cisco Adds This Sweetener, Wal-Mart’s China Headwind
Cisco Systems, Inc. (NASDAQ:CSCO): Fusion-io (NYSE:FIO) rises following the announcement that its Fusion ioMemory product will be built into Cisco’s (NASDAQ:CSCO) Unified Computing System, UCS, server intended for data centers. Cisco’s Chief Technology officer, Data Center Group, explains that this will increase the ability of Cisco UCS Blade servers to provide Cisco customers with scalable application acceleration.
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Bank of America Corporation (NYSE:BAC): Following the early achievement of a similar goal announced in 2007 and completed years before scheduled, Bank of America agreed Monday to another goal to invest $50B in green energy and similar environmental projects during the next 10 years.
Chevron Corp. (NYSE:CVX): Bloomberg reports, seven economies were added to the U.S. list of countries exempted from financial sanctions on Iranian oil imports. These countries include: India, South Korea, Turkey, South Africa, Malaysia, Sri Lanka and Taiwan.
EI DuPont de Nemours & Co. (NYSE:DD): The most recent World Agricultural Supply and Demand Estimates report states that due to higher consumption reducing carrying and decreasing world production, the USDA has removed 7M tons from its forecast of global wheat supplies for 2012/13. The report maintained its current forecast for U.S. feed grain supplies for the year 2012/13 as well as projecting the season average price ranges for corn, sorghum, barley, and oats for 2012/13.
General Electric Co. (NYSE:GE): the company considers removing large pieces of its lending business, relieving investors who are not comfortable that the conglomerate owns one of the U.S.’s largest banks.
Wal-Mart Stores Inc. (NYSE:WMT): National Business daily reported diseased pork was found in a Chinese Wal-Mart warehouse.
Exxon Mobil Corp. (NYSE:XOM): According to Bloomberg, the U.S. has added seven more countries to its list of countries exempted from financial sanctions on Iranian oil imports. These countries include: India, South Korea, Turkey, South Africa, Malaysia, Sri Lanka, and Taiwan.
Walt Disney Co. (NYSE:DIS): The U.S. Department of Justice is pursuing an antitrust inquiry, as to whether cable companies (NASDAQ:CMCSA)(NYSE:TWC) are responding improperly to competition from online video (NASDAQ:NFLX)(NASDAQ:NWSA)(NYSE:DIS), according to sources to the Wall Street Journal.
Hewlett-Packard Company’s (NYSE:HPQ) trial in California, regarding the company’s allegations that Oracle Corp. broke a contract when it decided in 2011 to cease the development of software for some H-P servers, resumes Wednesday following a two-day pause.
Johnson & Johnson (NYSE:JNJ) shares are moving up, following word that one of the firm’s subsidiaries, Janssen Pharmaceutical, would advance its position in J&J shares in the framework of an acquisition. In response, Jefferies boosted the shares from Hold to Buy, JPMorgan from Neutral to Overweight, and Raymond James from Market Perform to Outperform.
JPMorgan Chase & Co. (NYSE:JPM) deputy general counsel Gregory Baer detailed the firm’s “doomsday plan” at Harvard Law School in March, using a hypothetical loss of $50 billion. The presentation was unexpectedly candid, in that Baer admitted that the company could “absorb substantial losses without failing, there are limits to the capital buffers of even the healthiest banks”, according to The Financial Times.
3M Co. (NYSE:MMM) presenters at the Deutsche Bank Global Industrials and Basic Materials Conference, expect the electronic sector to show weakness in the first half of this year, but might improve in the second half, despite slowness in the Asia Pacific region, driven by challenging environment in China.
Merck & Co. Inc. (NYSE:MRK) reports new data from two pivotal Phase III efficacy trials for suvorexant, the investigational drug Merck is developing for the treatment of insomnia. The evaluations show that suvorexant significantly decreased the time it took patients to fall asleep and increased the amount of time that patients stayed asleep, as soon as the first night and at the three-month time point when compared to placebo.
Microsoft Corporation’s (NASDAQ:MSFT) and Apple’s (NASDAQ:AAPL) operating systems which lead the market, are said in the Wall Street Journal‘s technology columnist Walt Mossberg’s review, to remain superior to Chrome OS, which is Google’s (NASDAQ:GOOG) redesigned PC operating system. The analyst, however, does comment that Chrome is ‘improved’.
Intel Corporation (NASDAQ:INTC): The United States Computer Emergency Readiness Team (US-CERT) warned in a security advisory on Wednesday that some 64-bit operating systems and virtualization software programs are vulnerable to local privilege escalation attacks while running on Intel processors (CPUs).
McDonald’s Corp. (NYSE:MCD) is one of two examples in which a Reuters analysis shows the cost of default insurance increasing since JPMorgan’s (NYSE:JPM) big loss, with CSX Corp. (NYSE:CSX) being the other. It’s explained that JPM’s risky behavior might have caused negative consequences in a barometer that measures the financial well being of blue chip domestic companies.
Microsoft Corporation (NASDAQ:MSFT): In its blog, Skype reports the intro of its Conversation Ads, commenting that, “These new display ad units will appear within the calling window of users who do not have Skype Credit or subscriptions when they’re making 1:1 Skype-to-Skype audio calls using Skype for Windows. We’re excited to introduce Conversations Ads as an opportunity for marketers to reach our hundreds of millions of connected users in a place where they can have meaningful conversations about brands in a highly engaging environment. Skype is already at the center of meaningful conversations, where families, friends, and colleagues spend time together.”.
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Verizon Communications’s (NYSE:VZ) deal with cable companies is the topic of a letter from seven House Democrats (including two of the party’s most senior members) to regulators, warning that it might undermine competition. This is according to The Hill.
Boeing Co. (NYSE:BA): In a not-so-veiled threat to Congress (and perhaps others), defense contractors say that they are contemplating sending out ‘hundreds of thousands’ of pink slips to workers, just a few days before the November election, according to Politico late Wednesday. The companies are quoted as explaining that automatic sequestration cuts are scheduled to kick in on January 2, and Federal law mandates that employers give 60 days notice to workers facing layoffs.
Chevron Corp. (NYSE:CVX): OPEC’s global market share for crude and its dominating influence over pricing, might be impacted by newly found supply sources and the emergence of shale oil in the United States, says The Financial Times.
EI DuPont de Nemours & Company’s (NYSE:DD) paramount worries over the next 12 months, are centered around the fact that Germany’s performance level is defined by exports, and Europe itself.
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United Technologies Corporation’s (NYSE:UTX) $16.5 billion acquisition of aircraft parts producer Goodrich Corporation (NYSE:GR), has won conditional approval by China’s Commerce Ministry, but the regulator also remarked that the latter should divest or sell parts of some of its businesses, according to Reuters. The takeover is also being evaluated by the European Commission.
General Electric Company (NYSE:GE): GE India intends to spend $200 million to establish a new manufacturing plant in Pune for the development of products for the energy sector, according to The Economic Times.
Hewlett-Packard Company (NYSE:HPQ): Intel (NASDAQ:INTC), will meet with Taiwan-based firms in the ultrabooks supply chain in July, regarding the minimization of production costs for the next generation of note books, say industry sources to DigiTimes. The firm remains committed to the reduction of untrabook prices during to second half of the year to $699.
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