JPMorgan Exits China Everbright Bank Share Sale and 2 Other Dow Movers to Watch
JPMorgan Chase & Co. (NYSE:JPM): Current price $56.41
The U.S. inquiry into JPMorgan’s hiring practices in China has apparently put an end to the bank’s plans to manage China Everbright Bank Co.’s Hong Kong share sale, two people with knowledge of the situation told Bloomberg. U.S. authorities are looking at whether JPMorgan violated antibribery laws by allegedly hiring the children and other relatives of well-connected politicians and clients in that country. The bank advised Everbright it would back off, as the probe has delayed an internal approval process necessary for handling the offering, according to the sources.
Merck & Co. (NYSE:MRK): Current price $47.86
Merck on Tuesday announced that Merck for Mothers has commenced programs targeted at lowering the number of women across the United States who die from or suffer severe complications connected with pregnancy and childbirth. Chairman and CEO Kenneth C. Frazier said: “The rate of maternal mortality is increasing here in the United States. The tragedy is that many of these deaths are actually preventable. Merck is working with partners around the globe to help improve the situation everywhere, including in the United States, to create a world where no woman dies while giving life.”
E.I. DuPont de Nemours & Co. (NYSE:DD): Current price $61.50
Dupont’s business division, DuPont Packaging & Industrial Polymers, says that it has raised prices of specialty ethylene copolymer resins in North America. The rise is for all grades of DuPont Appeel, Surlyn, Elvaloy, Fusabond, Bexloy, Entira, Conpol, and Nucrel. The price hike is in the range of 10 cents to 15 cents per pound and will be effective from December 1, or as contracts allow.
Don’t Miss: JPMorgan Spends More Money to Close Old Wounds.