JPMorgan Chase Board Considers Dimon Report and 3 Dow Movers to Follow

Hewlett-Packard Company (NYSE:HPQ): Current price $16.77

After reaching a 10-year low of $11.35 in November, the firm’s shares have bounced back by more than 42 percent. However, it appears that options traders are set for a pullback, implied by the growing affinity for puts on the major exchanges. During Friday’s session, speculators set up new positions at the February 16th put at which open interest jumped in excess of 3,300 contracts over the weekend, constituting the most of any strike. Further, the majority of the puts were at the ask price, hinting at buyer-driven volume.

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International Business Machines Corporation (NYSE:IBM): Current price $192.91

Analyst Mark Moskowitz at JPMorgan has lowered his ratings on both IBM and EMC Corporation to Neutral from Overweight, noting that, “Within tech, we think that prospects of a potential bottoming in consensus estimates are improving. In such a case, relative safe haven stocks could be used as a source of funds. The relative safe havens that could see increased selling pressure include EMC and IBM, which is why today we are downgrading both stocks to Neutral from Overweight.”

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JPMorgan Chase & Co. (NYSE:JPM): Current price $45.86

The firm’s board will decide regarding the release an internal report this week that blames Chief Executive Jamie Dimon’s oversight of a division that lost more than $6.2 billion on botched trades, sources tell Bloomberg.

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Plains All American Pipeline (NYSE:PAA): Current price $49.64

The company is leading a group of oil and gas pipeline operators that has announced plans in the past three months to spend roughly $1 billion on rail depot projects to help transport more crude from inland fields to refineries on each of the coasts. The largest United States railroad, Warren Buffett’s Burlington Northern Santa Fe, spent $400 million on terminals in 2012, says Bloomberg.

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