DJIA Week in Review: GE Partnering With Ford, Wal-Mart Protests Protesters

Here’s your Cheat Sheet to the week in Dow 30 business news:

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Johnson & Johnson’s (NYSE:JNJ) Janssen-Cilag International reports that the oral once-daily medication Zytiga has been granted a positive opinion recommending approval by the Committee for Medical Products for Human Use of the European Medicines Agency for its use combined with prednisone or prednisolone for treating metastatic castration-resistant prostate cancer in adult men who are asymptomatic or mildly symptomatic subsequent to failure of androgen deprivation therapy and in whom chemotherapy is not yet clinically indicated. Upon endorsement by the European Commission, the recommendation would broaden the indication for Zytiga, which is currently approved for use in combination with prednisone/prednisolone to treat men with mCRPC, whose disease has progressed on or after a docetaxel-based chemotherapy regimen.

JPMorgan Chase & Co. (NYSE:JPM): Since China’s domestic stock market remains weak, that country lowered its capital-reserve requirement for securities firms and also broadened the range of financial products in which they may invest, says the Wall Street Journal. Under the new numbers, brokerages which engage in asset management now must set aside 1 to 2 percent of the amount under management as reserves, which is down from the previous 2 to 4 percent, reports the China Securities Regulatory Commission.

Pfizer (NYSE:PFE) reports that top-line results of a double-blind Phase 3 study evaluating pregabalin controlled-release formulation in patients with fibromyalgia show that pregabalin CR had a statistically significant positive effect when compared with placebo in the primary endpoint time to loss of therapeutic response. This evaluation is the second of three Phase 3 studies of the pregabalin CR formulation to release top-line findings, through which to ascertain the potential use of pregabalin as a once-a-day therapy, with the results of the first study in adults with partial onset seizures with epilepsy having failed to meet its primary endpoint. The final study in post-herpetic neuralgia is currently proceeding and the firm will examine further results of all three studies as soon as the data are available.

Cisco Systems (NASDAQ:CSCO) purchases the cloud managed networking solutions creator Meraki for around $1.2 billion while shares of network access solutions developer Aruba Networks (NASDAQ:ARUN) fall back. The buyer said that the acquisition would help it facilitate network management, enable the mobile workforces of its customers, and bring new revenue opportunities for partners.

Chevron Corporation (NYSE:CVX): Total (NYSE:TOT) will divest its 20 percent contractor interest in OML 138 block to a wholly owned subsidiary of Sinopec (NYSE:SNP) for a price of about $2.5 billion in cash, with the transaction subject to approval by authorities in Nigeria. The block contains the Usan field, which began output in February. The Nigerian National Petroleum Corporation is the block concession holder with Chevron Petroleum Nigeria, Nexen Petroleum Nigeria (NYSE:NXY), and Esso E&P Nigeria.

AT&T’s (NYSE:T) $39 billion T-Mobile deal was killed and then Deutsche Telekom (DTEGY) waited only two days to contact Credit Suisse (NYSE:CS), MetroPCS’s bankers, says a federal filing by the latter, as reported by the Wall Street Journal.

The Walt Disney Company (NYSE:DIS) will shut down its Web movie service, Disney Movies Online, as of December 31st, according to the Associated Press. The company says that the site was not keeping up with user demands, but it has not commented as to when Disney Movies Anywhere, the expected replacement service, will be introduced.

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General Electric Company (NYSE:GE) is partnering with Ford Motor Company (NYSE:F) through which the former will buy 2,000 Ford C-MAX Energi plug-in hybrids for its fleet, marking Ford’s largest-ever plug-in electrified vehicle fleet sale. Additionally, Ford will jointly market GE’s alternative fuel infrastructure solutions. The purchase of the Ford vehicles raises the number of alternative fuel vehicles in GE’s fleet to in excess of 5,000 in its target of 25,000 vehicles. C-MAX Energi holds a 108 MPG city EPA rating and a 620-mile single-tank range which should benefit GE’s sales and service professionals. Ford will promote GE’s WattStation charging station and CNG in a Box natural gas fueling station to its commercial buyers and will also provide new alternative fuel vehicles for use by GE’s Vehicle Innovation Center.

.The Coca-Cola Company’s (NYSE:KO) charitable arm, known as The Coca-Cola Foundation, donated $8.6 million in grants in the third quarter to 52 community organizations, among which included $740,000 to seven organizations in Atlanta.

Microsoft Corporation’s (NASDAQ:MSFT) intro of Windows 8 did not explode hardware sales as was expected, but “slow but steady” improvements have been noticed, according to ReadWrit, which added that it is not foreseen that Windows 8 software sales will accelerate until around the second quarter of 2013.

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Wal-Mart Stores (NYSE:WMT) filed a complaint last week to prevent the ‘OUR Wal-Mart’ worker protests from occurring on Black Friday and now federal labor officials say that their top priority is to make a decision as to whether to seek an injunction on behalf of the retailer, according to the Wall Street Journal.

Exxon Mobil Corporation (NYSE:XOM) and Royal Dutch Shell (NYSE:RDSA), along with their partners in Kazakhstan’s Kashagan oil field, see a postponement of a minimum of two years on a plan to push output by 20 percent, which shrinks the time they have to recuperate costs in the $46 billion project that’s already eight years behind, say sources to Bloomberg.

Caterpillar (NYSE:CAT) reports retail sales in North America of machines for the 3-month rolling period that ended in October rose by 13 percent, compared to 16 percent for the same period ending in September. Retail sales in the Asia/Pacific region of machines for the period ending in October were up 6 percent, compared to14 percent for the period that ended in September. Europe, Africa and Middle East retail sales of machines for the October period increased by 4 percent, compared to falling by 3 percent for the period ending in September. Retail sales in Latin America of machines for the period ending in October rose by 9 percent, with the September period sales down 4 percent. Finally, rest-of-world retail sales of machines for the 3-months that ended in October jumped by 6%, compared to an increase of 2 percent for September.

Cisco Systems (NASDAQ:CSCO) reported on Monday that it will purchase the San Francisco-based Meraki for an estimated $1.2 billion in cash, thus reinforcing its portfolio of cloud-based networking offerings. The privately-held Meraki was begun by three Ph.D. candidates at MIT back in 2006, and currently concentrates upon mid-market firms which require cloud networking and mobile device and security services. Meraki Chief Executive Sanjit Biswas wrote on his company’s website that the estimated 330 Meraki employees will become Cisco employees, but should continue to work out of Meraki’s headquarters.

Chevron Corporation (NYSE:CVX) has filed a complaint before the New York State Joint Commission on Public Ethics on Tuesday, requesting an inquiry of New York State Comptroller Thomas DiNapoli along with current and past members of his staff for multiple violations of New York Public Officers Law. The oil giant said its complaint is linked to current litigation in Ecuador and shows how Comptroller DiNapoli manages the New York State Common Retirement Fund. Securities and Exchange Commission filings show that the Fund owns more than $800 million worth of Chevron stock, apparently breaching his ethical and fiduciary duties.

The Walt Disney Company (NYSE:DIS) closes its Disney Movies Online platform and visitors to the video streaming site are being advised that the hub is closing at the end of 2012. A message reads: “As part of this change, purchases, upgrades, and Magic Code entries can no longer be made on the Disney Movies Online website. You can continue to stream your existing movies until December 31st.”

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Hewlett-Packard Company’s (NYSE:HPQ) allegations of accounting improprieties at its Autonomy Corp. division are being investigated by the FBI in response to a Securities and Exchange Commission inquiry, say sources to Bloomberg.

JPMorgan Chase & Co. (NYSE:JPM) and Goldman Sachs (NYSE:GS) were chosen by the networking company Cyan Inc to lead a potential initial public offering in 2013, say sources to the Wall Street Journal, which add that the date of the IPO might be changed because of business and market conditions.

Microsoft Corporation’s (NASDAQ:MSFT) board sees the Netflix (NASDAQ:NFLX) Chief Executive Reed Hastings ready to step down. Hastings has said that the crucial struggle facing Microsoft centers around Windows 8 along with the way in which they use the new operating system to compete with “a better set of competitors than they’ve ever had, in Google (NASDAQ:GOOG) and Apple (NASDAQ:AAPL),” says AllThingsD.

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Pfizer (NYSE:PFE) and Bristol-Myers Squibb’s (NYSE:BMY) new blood thinner Eliquis has been okayed by European regulators to prevent stroke in patients suffering from atrial fibrillation, exposing the drug to a much bigger market. The new approval marks the drug’s first global clearance for that use and its first big step toward stardom. Millions of European patients have atrial fibrillation and studies have shown its prevalence is on the rise. Even though Eliquis only brought in $1 million for Bristol-Myers Squibb during the third quarter, its approval for clot prevention in certain surgery patients might significantly prompt the drug to fly in the AF market.

Verizon Communications (NYSE:VZ) has not officially released information, but its Verizon Galaxy S3 Android 4.1 launch might be a bit sooner than expected.

General Electric Company (NYSE:GE) is in discussions to purchase the Italian defense firm Avio SpA from Cinven, which turned down a previous offer from two private-equity funds, say sources to Bloomberg.

Hewlett-Packard Company’s (NYSE:HPQ) accounting accusations are not clear to the former chief of Autonomy, a firm which the former acquired last year. Mike Lynch says he does not understand how the matter became a $5 billion write down on the software business he sold them, according to Reuters. Lynch explained that there were three areas in which accounting rules gave room for differences of interpretation while he said that the allegations are “utterly wrong.”

International Business Machines Corporation’s (NYSE:IBM) proposed purchase of Kenexa Corporation (NASDAQ:KNXA) is connected to the entering into of a Memorandum of Understanding to settle a derivative action and purported class action complaint which was filed in the Court of Common Pleas of Chester County, Pennsylvania. The resolution of the lawsuit is contingent upon definitive documentation and court approval. In regards to the Memorandum of Understanding, Kenexa’s board of directors aproved a resolution that allows all Kenexa shareholders dissenters rights in connection with the acquisition and Kenexa, IBM and Sub entered into an amendment to the merger agreement affirming such dissenters rights. Thus, Kenexa shareholders have dissenters rights as provided by Pennsylvania law in regards to the merger. So that Kenexa’s shareholders have time to consider the amendment and to evaluate and provide timely notofication of their intention to exercise their dissenters rights in connection to the merger, Kenexa will postpone its previously scheduled special shareholder meeting concerning the merger. The special shareholder meeting for Kenexa, previously set for November 29th, will be held on December 3rd starting at 10:00 a.m.

Intel Corporation (NASDAQ:INTC) steps up the development of its new low power mobile chip, say anonymous PC industry sources to DigiTimes. The processor is anticipated around the middle of next year and should consume less power and be less expensive to make than its current mobile chip. The website added that the new processor is viewed as a milestone for Intel.

JPMorgan Chase & Co.’s (NYSE:JPM) chief investment office became a proprietary trading unit that led to more than $6.2 billion in losses of pension funds and are facing a lawsuit, according to a Thursday night report in The New York Post, which added that the firm has said that the division’s primary role was in the management of risk.

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Microsoft Corporation (NASDAQ:MSFT) has published its patent application for computerized glasses that will contain “augmented reality” displays, said unwiredview on Thursday. The product is designed to supply text and audio to complement other activities like watching sports events or concerts.

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