JPMorgan Can’t Shake the London Whale Fiasco and 2 Other Dow Movers to Watch
JPMorgan Chase & Co. (NYSE:JPM): Current price $51.77
The Commodity Futures Trading Commission, which was not included in Thursday’s $920-million settlement with JPMorgan, is still going after the big bank’s London Whale loss, even though United Kingdom regulators have settled over the same matter. The Commission did not join last week’s resolution the because it is still probing whether the bank manipulated derivatives markets early last year with the large positions of trader Bruno Iksil. JPMorgan revealed Thursday it was advised that the CFTC “staff intends to recommend enforcement action” against it and that it had received a so-called “Wells” notice.
Wal-Mart Stores Inc. (NYSE:WMT): Current price $76.29
The meg-retailer says that it is raising 35,000 part-time workers to full-time status, and another 35,000 to part-time from temporary, following its difficulties keeping shelves stocked with too few employees during the past year. Beyond that, some 55,000 seasonal workers will be hired for the upcoming shopping season, up from 50,000 in 2012, according to a statement released Monday. Wal-Mart spokesman Kory Lundberg said that the 70,000 workers whose employment statuses are being elevated will keep their new positions after the holiday season ends.
The Home Depot Inc. (NYSE:HD): Current price $76.20
On Monday, the home improvement retailer announced the appointment of Helena B. Foulkes to its board of directors. Foulkes, who is executive vice president and chief health care strategy and marketing officer for CVS Caremark Corporation, will be a member of the Finance and Leadership Development & Compensation Committees as well. Her appointment gives Home Depot 11 directors, 10 of whom are independent.