American Express Company’s (NYSE:AXP) Chief Executive Kenneth Chenault is said to have been approached by officials from the White House as to his possibly joining President Obama’s administration in the second term, say inside sources, who think that Obama has not yet settled on a replacement for Timothy Geithner at the Treasury. Chenault is a longtime supporter of the President and could also be headed for the Commerce Depertment, according to the sources.
On Wednesday in Italy, four major banks, including Deutsche Bank (NYSE:DB) and UBS (NYSE:UBS), were found guilty of fraud in the sale of derivatives contracts to the city of Milano. The landmark decision might pose a precedent for a number of cases which involve other local governments in the country.
Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.
Main Street Capital Corporation (NYSE:MAIN) will pay a special cash dividend of 35 cents per share in January which is in addition to the firm’s regular monthly dividends of 15 cents per share to be paid in January, February and March. A press release describing the payouts was issued Wednesday as a reminder with respect to the January special cash dividend and relevant dates so as to avert potential confusion. This special dividend will be payable to stockholders who buy shares prior to and hold such shares on the January 2nd ex-dividend date.
Oaktree Capital Group (NYSE:OAK) sees its Buy reiterated at Goldman Sachs with its price target elevated from $55.00 to $58.00 in a Wednesday report. Goldman comments that, “OAK announced a $1.26 billion distribution to investors in Opportunities Fund VIIb. Following this distribution, investors would have received their capital and preferred return, implying OAK can now recognize incentive income with incremental distributions in the fund beginning in the first quarter of 2013. As per OAK’s European-style waterfall following the $1.26 billion distribution, OAK is entitled to 80 percent of each incremental distribution until the firm has ‘caught up’ or recognized its portion of incentive income or 20 percent of the total gain since inception.”