JPMorgan Sees Credit Rating Outlook Cut at S&P and 2 More Dow Movers to Watch
JPMorgan Chase & Co. (NYSE:JPM): Current price $53.64
On Tuesday, Standard & Poor’s revised JPMorgan’s credit rating outlook to negative, on the explanation that the likelihood of “extraordinary” government support for the largest American banks is waning. S&P reduced the outlook on the megabank’s long-term rating of A to negative from stable, according to a statement, bringing JPMorgan in line with the seven other “systemically important” banks that include Bank of America Corp. and Goldman Sachs Group , whose outlooks were held at negative. JPMorgan is the largest United States bank, holding $2.4 trillion in assets.
Hewlett-Packard Co. (NYSE: HPQ): Current price $24.25
HP on Tuesday announced new and enhanced HP ProLiant servers that assist small and midsized firms quicken business results by facilitating the deployment, management and maintenance of their information tech infrastructure. Smaller businesses can be challenged by their limited financial and human resources when responding to increasing customer demands and changing business requirements. Smaller enterprises like retail stores, medical practices, and real estate offices need easy, scalable and cost-effective solutions through which to power their businesses. Based on the present buying trends, a minimum of 5.1 million small businesses globally will buy their first server within the next five years, says the global strategy consulting firm AMI Partners.
Exxon Mobil Corporation (NYSE:XOM): Current price $90.42
The acting chief of the state-owned energy company TPAO in Turkey said on Tuesday that Exxon Mobil is in discussions with the former to acquire a stake in a block in the Black Sea, as the country searches for shale gas in its own territory. TPAO’s acting President and Chief Executive Besim Sisman commented to Reuters that “ExxonMobil wants to be in the Black Sea with us, in deep offshore. It’s on the Ukraine and Romania side.” Sisman did not provide further details on the talks between the state owned energy company and Exxon.