Dow Jones Index Stock Review: New Chromebook by Acer, Disney Channel “On Fire”
Here’s your Cheat Sheet to the week in Dow 30 business news:
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Hewlett-Packard Company (NYSE:HPQ) reports that it has amicably settled its patent litigation with Rio Branco Ltda., which distributes the Brazilian brand Maxprint, linked to H-P’s integrated printhead inkjet cartridges. Through the terms, Maxprint acknowledges that the latter’s patents are valid and enforceable, and has also agreed to cease the sales of the cartridges in question not only in Brazil but in other countries where the cartridges are sold. The parties agree that Maxprint may sell any remaining inventory until Dec. 1, 2012, after which date all infringing product sales by Maxprint must stop. In addition, as part of a wider patent enforcement program in Brazil, Hewlett-Packard has reached resolutions with other companies regarding the sale of the same print cartridges in that country.
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Johnson & Johnson (NYSE:JNJ) is establishing four centers worldwide to search out early-stage acquisitions, partnerships and investment opportunities, according to Bloomberg.
JPMorgan Chase & Co. (NYSE:JPM) has appointed Rob Sivitilli as the company’s chief of mergers and acquisitions for Asia excluding Japan, says the Wall Street Journal. Prior to this, Sivitilli was head of M&A along with corporate finance for Southeast Asia, a role which he will retain.
3M Company (NYSE:MMM) Chief Executive Inge Thulin said that the company is planning for a “tough situation” in Europe, in remarks at Citi Global Industrials Conference.
Microsoft Corporation (NASDAQ:MSFT): A new second generation Chromebook will be developed by Acer, says Digitimes. Chromebook is the brand of laptop that contains Google’s (NASDAQ:GOOG) Chrome operating system, and Acer forecasts that monthly shipments of the device could reach as high as 200,000 units.
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AT&T Inc. (NYSE:T) is among the companies that will have available the Galaxy Note II, once it is introduced by Samsung (SSNLF) by the middle of November. The product is a smartphone and tablet hybrid, and will be available in the Unites States at four other top carriers in addition to AT&T, including Sprint Nextel Corporation (NYSE:S), Deutsche Telekom’s (DTEGY) T-Mobile, Verizon Wireless (NYSE:VZ)(NASDAQ:VOD) and United States Cellular Corporation (NYSE:USM) each of which will announce the exact pricing and retail availability.
Wal-Mart Stores, Inc. (NYSE:WMT) and the healthcare insurer Humana Inc. (NYSE:HUM) are collaborating in an effort to reduce the cost of healthy foods for some customers, according to Reuters. Through the new arrangement, more than 1 million members of Humana’s healthy rewards program will receive a 5 percent credit on some 1,300 healthy food items at domestic Walmart stores, commencing October 15th. Additionally, the credit may be used for future Walmart purchases.
JPMorgan Chase & Co. (NYSE:JPM): According to a survey released Thursday by ORC International, almost two-thirds of American residential real estate investors expect to purchase as many as or more homes in the next 12 months than they did in the past year, even while prices increase, says Bloomberg. On the other hand, about 30 percent of investors intend to decrease their purchases, according to the same study.
Microsoft Corporation’s (NASDAQ:MSFT) Windows 8 will work with Hewlett-Packard Company’s (NYSE:HPQ) new lineup of consumer PCs and accessories, which are designed for the linkup, and should prove ideal for savvy, tech-conscious users who demand great performance and beautiful design at an excellent value. This consumer PC lineup is powered by the most recent generation of Intel Corporation (NASDAQ:INTC) Core processors, which provide performance and stunning visuals for everyday life. In addition, H-P has added four new business desktop and notebook PCs that are run by the latest AMD processors to its industry-leading commercial portfolio.
Pfizer Inc. (NYSE:PFE): Bristol’s President of U.S. Pharmaceuticals at the UBS Health Care Conference commented that the Eliquis opportunity assumes approval, which has not been granted thus far.
The Boeing Company’s (NYSE:BA) chief of defense operations, Dennis Muilenburg, says that a merger between BAE Systems (BAESY.PK) and European Aeronautics (EADSY.PK) should be closely examined by regulators since it would heighten national security and industrial issues, according to Reuters.
Bank of America Corporation’s (NYSE:BAC) settlement with Gibbs & Bruns law firm over allegedly defective mortgage bonds has prompted the latter to comment that Wells Fargo & Co. (NYSE:WFC) and Morgan Stanley (NYSE:MS) failed to perform their duties while servicing $73 billion in securities, says Reuters.
Cisco Systems, Inc. (NASDAQ:CSCO): California’s largest health district, Palomar Health, has named multiple Cisco collaboration, network and data center solutions as the foundation for establishing one of the most technologically-advanced hospitals in the nation. The Palomar Health Medical Center in western Escondido opened for patient care on Aug. 9th, and is an 11-story structure with 288 beds.
Chevron Corporation (NYSE:CVX): The United Kingdom’s Environmental Audit Committee requests that international governments seek a moratorium on all oil and gas offshore drilling in the Arctic, until a point at which new safeguards are in place, reports the Associated Press.
The Walt Disney Company (NYSE:DIS), in comments at the Goldman Sachs Communacopia Conference, says that the Disney Channel is “on fire” around the world.
General Electric Company (NYSE:GE) will collaborate with Electric Transmission Texas on the largest series compensation project in the country. The latter, which is a joint venture between the subsidiaries of American Electric Power Company Inc. (NYSE:AEP) and MidAmerican Energy Holdings, is a regulated transmission-only utility which constructs, owns and operates transmission assets as a regulated utility in the state of Texas. Under the terms of the multi-million dollar agreement, GE will install eight series compensation banks at four different facilities that are owned by ETT in West and Central Texas. Hundreds of American workers will be employed by this project in manufacturing, engineering, project management and construction.
Intel Corporation (NASDAQ:INTC) shook up its industry in 2011 by committing to a new style of transistors, which forms the building block for all computer chips. On Thursday, Globalfoundries announces an unusual plan to catch up, expecting to increase the speed and battery life of mobile devices in the process. The firm plans to make chips by combining two future generations of production tech, which is an approach that could bring more manufacturing work to the United States, should customers adopt it. However, questions remain concerning the strategy and its timing, in part because Globalfoundries is not widely thought of as an industry pace-setter.
Wal-Mart Stores, Inc. (NYSE:WMT) and Direct Sourcing Group Pte, a division of Li & Fung, have reached a new sourcing arrangement, that supplants previous buying agreements made in January 2010, according to Reuters. In addition, Wal-Mart’s option to buy all of the shares of Direct Sourcing has ceased and Direct Sourcing will remain the primary direct resource for the Wal-Mart’s Sam’s Club, from a filing to the Hong Kong bourse.
Exxon Mobil Corporation (NYSE:XOM) and its wholly owned subsidiary XTO Energy will acquire Bakken assets in North Dakota and Montana from Denbury Resources Inc. (NYSE:DNR). Through the terms, the seller will receive $1.6 billion in cash, subject to the customary closing adjustments, and also ExxonMobil’s operating interests in Webster Field in Texas and Hartzog Draw Field in Wyoming. Both these assets are ideal candidates for carbon dioxide flooding and are near Denbury’s existing or planned CO2 pipelines. Further, Denbury will either purchase an interest in the CO2 reserves in ExxonMobil’s LaBarge Field in southwestern Wyoming, or incremental CO2 from that field, on terms and conditions that will be mutually agreed upon by both parties. The transactions should close late in the fourth quarter with a July 1, 2012 effective date. Denbury plans to resume its stock buyback program begun in October 2011 under which $195 million of the $500 million of authorized repurchases have been made.
JPMorgan Chase & Co.’s (NYSE:JPM) division has been taken on by the United States Federal Energy Regulatory Commission to show that it did not violate federal regulations in its submission of misleading information and omitting facts in regards to dealings with the regulator and California’s electricity grid operator, says Reuters. However, the regulator claimed that the company could have violated regulations under the Federal Power Act when it didn’t comply with a data request in a timely manner, along with other allegations.
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Kraft Foods Inc. (NYSE:KFT) has lost its former Chief Technology Officer and Vice President, Global Information Services Michael Cunningham to Green Mountain Coffee Roasters, Inc. (NASDAQ:GMCR), where he will become the latter firm’s chief information officer. Cunningham had joined Green Mountain in July. In another appointment, Michael Jacobs has been named chief logistics officer and an executive officer at the same company; he held the prior position of VP, enterprise logistics and distribution.
Microsoft Corporation (NASDAQ:MSFT) and Hewlett-Packard Co.(NYSE:HPQ) are accused by a United States Senate subcommittee that is looking into how multinational companies exploit the intricate U.S. corporate-tax code of employing accounting strategies to keep their U.S. tax bills down while moving profits in and out of the country, according to the Wall Street Journal. Although most of that appears to comply with the letter of current tax regulations and both firms maintain that their methods are legitimate, Senate investigators say that some of the practices used by H-P are indeed potentially abusive and subject to challenge.
Pfizer Inc. (NYSE:PFE): Mylan Inc. (NASDAQ:MYL) reports that its subsidiary Mylan Pharmaceuticals Inc. has received a final okay from the FDA for its Abbreviated New Drug Application for Meclizine Hydrochloride Tablets USP, 12.5 mg, 25 mg and 50 mg. This drug is the generic version of Pfizer’s Antivert, which is indicated for the management of nausea and vomiting, and dizziness that is associated with motion sickness. Antivert Tablets, which come in 12.5 mg, 25 mg and 50 mg, saw domestic sales of around $53.5 million for the 12 months ending on June 30th, reports IMS Health.
The Boeing Company (NYSE:BA): The Federal Aviation Administration has announced relatively stringent requirements for inspections to be conducted every 90 days, subsequent to recommendations from the National Transportation Safety Board, according to The Wall Street Journal.
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Bank of America Corporation (NYSE:BAC): President Obama’s Residential Mortgage-Backed Securities Working Group, which was created to look into misconduct that helped to worsen the financial crisis, will soon take legal action, says a co-chair of the task force, New York Attorney General Eric Schneiderman, according to Reuters.
Caterpillar Inc. (NYSE:CAT) has posted August 3-month rolling world retail sales of machines up by 13 percent, in comparison to the July figure of 14 percent, and June’s 11 percent. In addition, the August numbers were up 27 percent in the Asia-Pacific region, unchanged for Europe, Africa and the Middle East, down 5 percent for Latin America, up 24 percent for North America and up 7 percent for rest of the world.
Chevron Corporation (NYSE:CVX): The United States’ part of the Gulf of Mexico is poised for a boom in energy production, subsequent to the notable slump in output following the Deepwater Horizon disaster. Estimates by the consulting firm Bentek Energy have Gulf oil flows jumping by around 28 percent by 2022 to 1.8 million barrels per day, says The Wall Street Journal.
AT&T Inc. (NYSE:T) is one of the companies that has spent big bucks launching new networks with the promise of extremely fast Web browsing speeds on mobile phones as they anticipate the arrival of the iPhone 5 (NASDAQ:AAPL). Other companies include Verizon Wireless (NYSE:VZ)(NASDAQ:VOD) and Sprint Nextel Corporation (NYSE:S). Their tech might be heavily marketed, but several networks are far from completion.
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Wal-Mart Stores, Inc. (NYSE:WMT) expects to launch its first retail stores in India within two years of the government clearing the way for international supermarket chains to come into the country via joint ventures, according to the Wall Street Journal.
Exxon Mobil Corporation (NYSE:XOM): The United States’ part of the Gulf of Mexico is poised for a boom in energy production, subsequent to the notable slump in output following the Deepwater Horizon disaster. Estimates by the consulting firm Bentek Energy have Gulf oil flows jumping by around 28 percent by 2022 to 1.8 million barrels per day, says the Wall Street Journal.
General Electric Company’s (NYSE:GE) new GEnx engine may face enhanced inspections, according to recommendations by the National Transportation Safety Board, which have prompted the Federal Aviation Administration to announce relatively stringent requirements for inspections to be conducted every 90 days, according to The Wall Street Journal. The article adds that the engines have been installed on all Boeing Company (NYSE:BA) 787s, along with the newest 747 models.
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Home Depot, Inc. (NYSE:HD) reports that it has appointed Mark Vadon to its board of directors and as a member of the Audit and Finance Committees. Upon assuming his new positions, Home Depot will have 11 directors, 10 of whom are independent. Previously, Vadon co-founded Blue Nile, Inc. (NASDAQ:NILE) and has been the chairman of its board of directors since its inception.
Hewlett-Packard Co.(NYSE:HPQ) and Microsoft Corporation (NASDAQ:MSFT) are accused by a United States Senate subcommittee that is looking into how multinational companies exploit the intricate U.S. corporate-tax code, according to the Wall Street Journal. Although most of that appears to comply with the letter of current tax regulations, and both firms maintain that their methods are legitimate, Senate investigators say that some of the practices used by H-P are indeed potentially abusive and subject to challenge.
Intel Corporation (NASDAQ:INTC) is in discussions with Sharp Corp. Ltd. (SHCAY.PK) through which to provide small and mid-sized LCD panels to Intel, say sources to Reuters, adding that Sharp intends to divest its domestic solar division Recurrent Energy.
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