JPMorgan GAINS 3.7% and 3 Dow Movers Making Waves
Hewlett-Packard Company (NYSE:HPQ): Gartner (NYSE:IT) estimates that global expenditures on enterprise application software will amass $120.4 billion in the current year, which represents a 4.5 percent increase over the 2011 spending of $115.2 billion. However, taking into consideration the near term, which promises only limited signs of improvement, the growth trajectory for 2012 has been adjusted down from 5 percent in a previous forecast during the first quarter. Further, analysts at Gartner say that enterprise resource planning is the biggest enterprise application software market, with revenues forecast to reach $24.9 billion this year, followed by office suites at $16.5 billion. Business intelligence revenue is expected to reach $13 billion, and customer relations management is on track to exceed $13 billion this year.
JPMorgan Chase & Co. (NYSE:JPM) CEO James Dimon, testifying again before Congressional panels, maintained that his bank was truthful with investors about the trading loss, for which he apologized, but would not take personal responsibility. Regulators are looking into whether the company hid a dramatic rise in risk-taking.
The Coca-Cola Company (NYSE:KO) and Ford (NYSE:F) have each commented that they found value in Facebook (NASDAQ:FB) advertising, according to a Wall Street Journal report. Additionally, Ford intends to broaden its use of the social network.
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