JPMorgan’s Global Settlement, Facebook Rides Canaccord Initiation, and 3 More Hot Stocks

JPMorgan Chase & Co. (NYSE:JPM): Under a global settlement to put to rest the myriad investigations into its practices, JPMorgan may see itself shelling out anywhere from $3 billion to $7 billion in order to avoid round after round of costly litigations. The settlement, sources told The New York Times, might also require JPMorgan to provide some financial relief for struggling homeowners, as much of the settlement would be directly correlated with state and federal agencies over the bank’s sale of troubled mortgage securities to investors in the early stages of the financial crisis.

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Facebook (NASDAQ:FB): An initiation of coverage at Buy from Canaccord is helping Facebook shares trade even higher, as more sell-side firms continue to convert their opinions following Facebook’s fourth-quarter report. The firm notes that Facebook’s global penetration is only about 20 percent, and sees upside from Instagram magnetization and the upcoming launch of the video ad product. The price target is set for $60.

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AutoZone Inc. (NYSE:AZO): Shares of AutoZone are trading up in the wake of a favorable quarterly report that saw earnings per share of $10.42 beat estimates by 9 cents, and revenue of $3.1 billion fall in line. Domestic same-store sales rose 1 percent during the period as AutoZone saw lower acquisition costs help widen margins more than expected. Inventory rose 8.9 percent due to new store openings and strategic hard parts stocking.

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Unilever PLC (NYSE:UL): Unilever is intending to purchase oils derived from algae from Solazyme (NASDAQ:SZYM) to use in its personal care products. Unilever will use the oils in its Dove and Brylcreem product lines; under the agreement, Unilever plans to buy roughly 3 million gallons of the algae-produced oil over 12 to 18 months starting early next year. This is part of Unilever’s aim to double the size of its business while reducing its overall environmental footprint, The New York Times reports.

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Starbucks Corp. (NASDAQ:SBUX): Starbucks has reportedly filed a trademark for a soda drink called Fizzio, which is set to give SodaStream (NASDAQ:SODA) a run for its money. The filing reveals that Starbucks has associated the Fizzio name with numerous types of beverages, and although its in early development, this shows the scope of the coffee chain’s beverage ambitions.

 

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