Jamie Dimon Says JPMorgan Bracing for More Regulatory Scrutiny and 2 Other Dow Movers to Watch

JPMorgan Chase & Co. (NYSE:JPM): Current price $53.11

Through a memo to employees on Tuesday, CEO Jamie Dimon said JPMorgan is bracing itself for added legal and regulatory scrutiny in the coming weeks and months, and described a series of steps the firm has taken to improve its operations. The big bank is already facing a broad range of investigations from a number of regulators and the Justice Department; it is allocating “unprecedented” resources to repair its risk, legal and compliance operations. In the memo, obtained by Reuters, Dimon said he has also started meeting personally with regulators to improve relationships.

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3M Co. (NYSE:MMM): Current price $120.12

The Defense Department awarded 25 new contracts Monday worth just more than $903 million combined, out of which 3M’s subsidiary Ceradyne won the second largest. The latter was bought by 3M in late 2012 for $670 million, and the buyer could get back almost 25 percent of its purchase price from one single contract, which is worth $151.2 million to 3M. The deal is an option exercise on a contract to provide Enhanced Small Arms Protective Inserts to the military.

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General Electric Co. (NYSE:GE): Current price $24.42

GE Oil & Gas on Tuesday said it will work jointly with Endurance Industry — which manufactures oil and gas, and environmental and auto equipment — for the purchase of 260 CNG In A Box systems during the next three years. The news is in conjunction with the grand opening of GE’s high-speed reciprocating compressor manufacturing facility in Shenyang, China. GE’s CNG In A Box system supplies Endurance and its customers with a small-scale, plug-and-play compressed natural gas fueling solution, helping to grow the local natural gas fueling infrastructure throughout China.

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