JPMorgan Chase Plans Bond Offering and 3 Dow Movers Seeing Action Today

Johnson & Johnson (NYSE:JNJ) is scheduled to post its third quarter earnings on October 16th, prior to the opening bell. The most recent Zacks Consensus Estimate for the second quarter is $1.20 per share, which marks a year-over-year decrease of 3 percent. It is anticipated that third quarter revenues will be $16.9 billion, representing year-over-year growth of 5.3 percent, with full year earnings at $5.06 per share, which would be up by 1.2 percent.

JPMorgan Chase & Co. (NYSE:JPM), which is currently the largest U.S. bank, intends to sell three-year debt in a benchmark bond offering as soon as Monday. The company may sell three-year, fixed-rate notes to yield around 80 basis points more than similar-maturity Treasuries and floating-rate securities to yield about 69 basis points in excess of the three-month Libor, says a person familiar with the offering, but who wishes not to be identified, as terms aren’t set. A benchmark offering is usually at a minimum of $500 million.

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McDonald’s Corporation (NYSE:MCD): Peru holds the distinction of being the country having the greatest concentration of fast food restaurants, according to Bloomberg. The statistic represents good news for fast-food entities, which are increasingly looking to Latin America for growth. Still, China has more American fast-food restaurants than in any other emerging market.

3M Company’s (NYSE:MMM) direct wholly owned subsidiary, Cyborg Acquisition Corporation, has initiated its previously announced (September 30th) tender bid for all outstanding shares of common stock of Ceradyne (NASDAQ:CRDN) at $35 per share. The company’s board of directors has unanimously approved the offer and recommends that the shareholders of Ceradyne accept the bid and tender their shares. The offer will expire at 5:00 p.m. Eastern Standard Time, on Tuesday, November 27th, unless extended.

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