Chevron Corp. (NYSE:CVX) will report its first quarter earnings results pre-market on Friday, and a conference call is set for later that morning at 11:00. First Call says that an earnings per share of $3.26 on revenue of $72.42 billion is expected, against a consensus ranging between $2.92 to $3.51, and $56.32 billion to $95.1 billion, respectively.
JPMorgan Chase & Co. (NYSE:JPM) has been retained by Carlyle Group to sell its 23.76 percent investment in Taiwan’s Ta Chong Bank, which sources estimate to be worth approximately $330 million. Reuters says that such a sale could bring consolidation to Taiwan’s low profit bank industry, but another source opined that ‘through options and other vehicles, Carlyle’s investment totals about 40 percent’.
Pfizer Inc. (NYSE:PFE) and Mylan (NASDAQ:MYL) report that Pfizer subsidiary Meridian Medical Technologies has reached a settlement with Teva (NASDAQ:TEVA), resolving pending patent litigation related to its abbreviated new drug application for a generic epinephrine auto-injector. Under the settlement’s terms, the latter is allowed to introduce a generic epinephrine auto-injector covered by its ANDA on or before June 22, 2015 under certain circumstances, and subject to FDA approval (which it does not currently have).
AT&T, Inc. (NYSE:T): The FCC okays T-Mobile USA to receive approximately $1 billion in wireless airwaves, which it is owed as a portion of the breakup settlement from AT&T’s failed $39 billion takeover attempt, according to a Wall Street Journal report.
Wal-Mart Stores Inc. (NYSE:WMT) announced the introduction of its “Pay with Cash” service for online orders at Walmart.com within the United States, becoming the first prominent retailer to offer online purchases that do not require banking services or a credit, debit or prepaid card. With “Pay with Cash”, shoppers can purchase a broader selection of products online, way beyond that of it its stores, at Walmart.com and pay for them with cash in all domestic Wal-Mart stores, and also in Neighborhood Markets.
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