JPMorgan Chase Sees Federal Criminal Case Developing and 4 Hot Stocks Not to Miss
Sprint Nextel Corp. (NYSE:S): Softbank Corp, which is a Japanese mobile phone carrier, is rumored to be in talks about purchasing more than two-thirds of Sprint Nextel, according to Reuters, citing Japanese public broadcaster NHK.
Safeway Inc. (NYSE:SWY) reiterates its FY12 operating profit margin change, excluding fuel, of negative 5 bps to positive 5 bps.
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Fastenal Co. (NASDAQ:FAST) reports that its Q3 revenue reached $802.58 million, consensus $804.8 million.
JPMorgan Chase & Co. (NYSE:JPM): Federal authorities have begun to develop criminal cases concerning the multibillion-dollar trading loss at JPMorgan Chase, and it could result in arrests during the next several months, according to DealBook’s Ben Protess and Azam Ahmed. Now, investigators are examining thousands of recorded phone calls; in some, employees talked about “how to value the troubled bets in a favorable way.”
The Goldman Sachs Group, Inc. (NYSE:GS): The Federal Reserve has struggled to end its quantitative easing program, said Gary D. Cohn, Goldman Sachs Group Inc.’s president and chief operating officer. On Bloomberg Television today in Tokyo, he stated, “I understand what they’re trying to do and I will tell you this, this is going to be difficult to stop or to exit…At the end of this — there will be an end to quantitative easing — we will have to go through the pains of stopping quantitative easing.”
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