JPMorgan Chase & Co. (NYSE:JPM): A weekend piece on the bank’s hiring practices in China seems to be weighing on shares, which are down over 2 percent. The Securities and Exchange Commission is reportedly investigating the possibility that JPMorgan is hiring the children of influential Chinese officials to allegedly drum up business. The bank’s hiring is yet another factor that it’s under investigation for, as the SEC and U.S. Department of Justice continue to delve into its role in the financial collapse several years ago.
J.C. Penney Co. Inc. (NYSE:JCP): Bill Ackman’s Pershing Square Capital is allotted up to four large sales of at least 5 million shares of company stock, but only after receiving permission from the retailer to do so. J.C. Penney is not obligated to allow more than two sales during any 12 month period, though once Pershing’s stake drops below 5 percent — it’s at 17.7 percent now — it will no longer be bound by these terms.
Opko Health Inc. (AMEX:OPK): Opko intends to register its stock on the Tel Aviv Stock Exchange as part of its $540 million acquisition of Israeli drugmaker Prolor Biotech. Putting its name on the new exchange in addition to the New York Stock Exchange will allow the company to pay for the purchase with locally listed shares, which are due to begin trading on Wednesday.
Eli Lilly & Co. (NYSE:LLY): Eli Lilly is spending this week working to protect its patent on Alimta, the company’s lung cancer treatment that accounted for around 11 percent of total revenue in 2012. Lilly is claiming that the addition of folic acid and vitamin B12, taken with Alimta, is an innovation that may have saved the drug after a “string of drug-related deaths” put its regulatory future in jeopardy. However, others don’t believe that the addition of vitamins is all that innovative, and doesn’t deserve patent protection.
Alaska Air Group Inc. (NYSE:ALK): Avi Salzman at Barron’s says that although Alaska’s stock slipped last week in the wake of a federal lawsuit that threatens to block the AMR-U.S. Airways merger, the company “appears to have little exposure to the lawsuit, has been one of the steadiest performers in the group, is expected to grow earnings by 22 percent next year, and has introduced new routes that could pay off in the coming quarters.” However, Salzman’s blessings seem lost on investors, as the shares are trading around flat.