JPMorgan Chase’s (NYSE:JPM) now infamous multibillion-dollar trading loss brought an industry practice to light: Banks keep investors uninformed regarding how they calculate trading risks, says a Bloomberg report. Regulators will likely take a dim view towards this revelation.
Investing Insights: JPMorgan Chase Quarterly Earnings Sneak Peek.
The Coca-Cola Company’s (NYSE:KO) shareholders on Tuesday okayed a two-for-one stock split along with an increase from 5.6 billion to 11.2 billion in the number of authorized shares of the Company’s common stock. The record date for the split will be July 27, 2012, with new shares projected to be distributed on or about Aug. 10, 2012. Every share owner of record on the close of business on August 10th will receive one additional share of common stock for each share held.
Microsoft Corporation (NASDAQ:MSFT) holds $50 billion in cash overseas, says a report from Richard Lane at Moody’s, which reveals that Apple (NASDAQ:AAPL) tops a list of U.S. tech firms holding overseas cash with $74 billion, which is up from $64 billion in December, according to Barron’s. Lane calculates that the amount of cash that is held overseas by the companies reached $227.5 billion at the end of the first quarter, and that Cisco (NASDAQ:CSCO) holds $42.3 billion, Oracle (NASDAQ:ORCL) $25.1 billion, and Qualcomm (NASDAQ:QCOM) has $16.5 billion.
United Technologies Corporation’s (NYSE:UTX) Pratt & Whitney has awarded Broens Industries a follow on purchase order, valued at around $300,000, to produce complex support equipment for the F135 propulsion system which powers the F-35 Lightning II. This new order is for units which will be used in the initial operational and training bases in the United States, and initiates the production phase of the project, which has a potential value estimated at more than $7 million.
Verizon Communications Inc. (NYSE:VZ): Verizon Wireless (NYSE:VZ) and Research In Motion (NASDAQ:RIMM) introduce the BlackBerry Curve 9310 smartphone, which is a stylish new smartphone for socially-connected customers. The phone will be available online starting July 12th and will be in Verizon Wireless Communications Stores in the coming weeks at $49.99, subsequent to a $50 mail-in rebate with a new two-year customer contract.
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