Joy Global RUMORS CANNED and 4 Stocks SWIRLING Tuesday
Komatsu, the world’s second largest dump truck maker, has no intentions to acquire U.S. mining equipment manufacturer Joy Global (NASDAQ:JOY), as studies reveal there are no meaningful synergies. “While we often consider mergers and acquisitions, it wouldn’t be beneficial for us to do so without synergies,” said Chief Executive Officer Kunio Noji.
Chipmakers Samsung (SSNLF.PK) and Taiwanese company TSMC may invest up to 10 percent in lithography tool and chip-equipment maker ASML Holding NV if negotiations succeeed; these investments could follow on Intel’s (NASDAQ:INTC) 15 percent investment – putting paid to the latter’s intentions, if any, to leverage the investment to maintain its lead over Samsung.
Duke Energy (NYSE:DUK) CEO Jim Rogers may have a lot of answering to do in a testimony under oath before the North Carolina Utilities Commission about former Progress CEO Bill Johnson’s sudden resignation within hours after Duke’s acquisition of Progress Energy became effective. A separate investigation has been opened by Roy Cooper, attorney general in North Carolina regarding the “significant management change, according to Reuters.
Barclays (NYSE:BCS) Chairman Marcus Agius confirmed in testimony before U.K. Parliament that former executive Bob Diamond will voluntarily give up deferred bonuses, estimated at a maximum of $31 million. Apparently, the Barclays board “welcomed” the move.
Sony’s (NYSE:SNE) Music Unlimited digital music download service, which became a subscription service earlier this month boasting a library of 10 million songs, now faces competition from a number of smaller players.