JPMorgan Chase (NYSE:JPM): Second-quarter earnings per share of $1.60 was enough to beat estimates by 16 cents, as was revenue of $25.2 billion by $0.36 billion. The bank’s income was boosted by 24 cents per share by reduced loan loss reserves in real estate and credit card portfolios, and cut a further 9 cents per share by increased litigation reserves. JPMorgan has a Basel III Tier 1 common ratio of 9.3 percent and book value per share of $52.54.
GlaxoSmithKline (NYSE:GSK): The company’s future in the Chinese pharmaceutical market could be in jeopardy. An ongoing investigation into the pharmaceutical giant was ordered by none other than Meng Jianzhu, who is in charge of all law enforcement and the country’s court system. Chinese authorities have placed at least 30 Glaxo employees under house arrest, including the company’s legal counsel in China and four or five other executives.
Disney (NYSE:DIS): Tom Staggs, the executive in charge of Disney’s theme parks, says that the electronic wristband pilot program has yielded positive results, as the company has seen a surge in guest spending with the program in effect. The system combines park admission tickets, hotel keys, and credit cards, and can be used with the wave of a hand. The wristband helps reduce the time visitors spend in lines by allowing them to book rides and restaurant seats in advance.
Royal Dutch Shell (NYSE:RDSA): The Nigerian unit of Shell has shut down a trunk line of the Trans Niger Pipeline following a leak not hardly a week after reopening it. The 24-inch trunk line helps a larger network of pipelines move 150,000 barrels per day of oil through the Niger Delta to the Bonny terminal. Inspection, repair, and cleanup teams have been dispatched to the area, though few details were offered about the leak itself.
Wells Fargo (NYSE:WFC): Wells Fargo surpassed its second-quarter expectations with earnings per share of 98 cents and revenues of $21.38 billion. The bank purchased 26.7 million shares in the second quarter, plus an additional 13 million shares through a transaction expected to settle in the third quarter. Its Tier 1 Basel III common equity ratio is 8.54 percent, with a book value per share of $28.26.