JPMorgan Considers Ban on Trader Chat Rooms and 2 Other Hot Stocks to Watch

JPMorgan Chase & Co. (NYSE:JPM): Current price $54.03

Knowledgeable sources say that the big bank is considering whether to ban traders from using electronic chat rooms to talk with their peers at other firms, since the forums attract attention from international regulators. It is expected that JPMorgan’s deliberations should be finalized by early next year, and will be centered upon multi-dealer chat rooms for currencies and other asset classes, according to the persons.

The United Kingdom’s number-one state-owned lender, Royal Bank of Scotland Group Plc, is said to also be reviewing its use of chat rooms while its overhaul of trading practices around market benchmarks moves forward. Meanwhile, JPMorgan might encourage traders to use the telephone and e-mails instead of chat rooms to help clients in large currency transactions.

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Transocean Ltd. (NYSE:RIG): Current price $55.43

It was announced Monday morning that Carl Icahn has won two board seats on the Transocean board of in an agreement that might also lead to more restructuring of the company. Transocean said that it will back the re-election of Samuel Merksamer and election of Vincent Intrieri to its board at its 2014 annual general meeting. Both directors are employees of Icahn Enterprises. At the same time, Transocean will reduce its board members total from 14 to 11. Icahn Enterprises holds almost a 6 percent stake in Transocean worth $1.15 billion as of Friday’s close, and will vote in favor of the firm’s list of director nominees and proposals it will recommend at the meeting.

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ARIAD Pharmaceuticals Inc. (NASDAQ:ARIA): Current price $2.54

Glancy Binkow & Goldberg LLP has announced that all buyers of ARIAD securities between December 12, 2011 and October 8, 2013 inclusive have until December 9 to file a motion to be appointed as lead plaintiff in the shareholder lawsuit filed in the United States District Court for the District of Massachusetts. On October 9, ARIAD announced that the FDA placed a partial clinical hold on all new patient enrollment in clinical trials of Iclusig, after reports of non-serious and serious adverse events in Iclusig-treated patients.

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