Dimon Defends 2012 London Whale Disclosures and 2 More Heavily Traded Stocks to Follow
JPMorgan Chase & Co. (NYSE:JPM): Current price $
On Tuesday, Chief Executive Jamie Dimon has defended the disclosures the bank made in 2012 in regards to its London Whale derivatives loss, remarking that ”We did everything that we thought was the right thing to do,” in response to a question concerning the matter at an investor conference in New York. He repeated his prior apologies for the loss that he had mistakenly referred to as a “tempest in a teapot” just one month before the firm disclosed in May of 2012 that it had lost over $2 billion on the trades.
Facebook (NASDAQ:FB): Closing price $
Chief Executive Mark Zuckerberg on Tuesday has reaffirmed Facebook’s position that it does not work directly with the National Security Agency or any other government agency that requests user information. At the shareholder meeting, Zuckerberg also commented that, “No agency has direct access to our servers. We basically give the minimum amount of information we need to comply with the law. We push back” to protect the data of Facebook users.
Regions Financial Corporation (NYSE:RF): Current price $
Wednesday is the ex-dividend date for Regions Financial, with owners of shares as of the market close Tuesday eligible for a dividend of 3 cents per share. The average volume for the bank has been 14.6 million shares per day during the past 30 days. Regions has a market cap of $13.02 billion and forms part of the financial sector and banking industry. Shares are up by 31.3 percent in 2013, as of the close of trading on Monday.