Chevron Partners With YPF and 2 Other Dow Movers o Watch
Chevron Corporation (NYSE:CVX): Current price $123.49
YPF says that Chevron will become the first top oil company to partner with it to develop shale oil, with a final agreement expected for July. Chief Executive Miguel Galuccio of YPF, and Chevron’s chief of Latin America, Middle East, and Africa Ali Moshiri visited the Patagonia shale formation Tuesday and met with Neuquen’s governor Jorge Sapag, according to an e-mailed statement from YPF.
JPMorgan Chase & Co. (NYSE:JPM): Current price $51.24
Late Tuesday, The Wall Street Journal reported that over 40 percent of JPMorgan’s voting shares are in support of splitting the roles of chairman and chief executive officer. Jamie Dimon, who holds these positions, has hinted that he might exit if the measure passes. The article said that not all votes have thus far been cast prior to the bank’s May 21 annual shareholder meeting, and late votes will likely determine what finally happens.
Bank of America Corporation (NYSE:BAC): Current price $13.48
The BofA Merrill Lynch Fund Manager Survey for May suggests that investors are positioning themselves for slower growth in China, along with prolonged low inflation. One fourth of the respondents to the survey believe that a hard landing in China and a commodity collapse is their number one “tail risk,” marking an increase from 18 percent in April.
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