JPMorgan Settles With US & UK Regulators At $750 Million and 2 More Heavily Traded Stocks to Follow

JPMorgan Chase & Co. (NYSE:JPM): Closing price $53.14

The Wall Street big bank will shell out a minimum of $750 million to settle United States and United Kingdom regulatory inquiries of its 2012 trading loss, according to knowledgeable sources, who added that JPMorgan wants to settle as many inquiries as is possible prior to the end of the third quarter. Last week, Chief Financial Officer Marianne Lake told investors that the quarter’s addition to legal reserves would “more than offset” roughly $1.5 billion worth of consumer reserve releases.

One source said that some settlements could be announced as soon as this week, and the aggregate penalties might yet change. Bruno Iksil agreed in June to testify against his colleagues after United States prosecutors gave him immunity against prosecution.

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Sprint Nextel Corp. (NYSE:S): Closing price $6.64

Sprint’s lenders have agreed to waive a quarterly leverage test until December 31, after carrier’s debt sale in September that could have led to a loan default. The company has also obtained similar agreements for its revolving credit facility and a Canadian loan, and has now received all “necessary waivers” from lenders, according to a statement on Monday. A September 4 regulatory filing said that its $6.5 billion bond sale would have breached the terms of its loans “by a significant level” at the end of the month.

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Broadcom Corp. (NASDAQ:BRCM): Current price $26.91

Broadcom has announced its acceptance as a full Member of the Electronic Industry Citizenship Coalition, which is an alliance of the world’s top electronics firms cooperating to improve efficiency and social, ethical, and environmental responsibility in the world supply chain. Upon becoming a full EICC member, Broadcom will adopt the organization’s code of conduct to ensure environmental responsibility, worker safety and fairness, and business efficiency.

For its part, Broadcom commits to conform to the EICC code of conduct in its own operations, progressively implementing the EICC approach and tools in the spirit of the industry’s common aspirations.

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