Most Active Equities Jan. 23rd: JP Morgan Opens New Branches, GE Capital Doubles Saleforce, Micron Signs Deal
On Monday, the U.S. financial markets were trading choppy ahead of another monster week of earnings reports for investors and traders to digest. Among the most active stocks, we reveal the most notable news at the following four companies today:
JPMorgan Chase & Co. (NYSE:JPM): Chase announced that it will continue its investment in California by opening more than 80 new branches and adding more than 1,200 jobs to better serve customers in 2012. Chase plans to add approximately 175 branches nationwide in 2012. Nearly half of the new branches in 2012 will be in California. During the past 3 years, Chase has added more than 200 branches in California and more than 6,000 jobs.
General Electric Company (NYSE:GE): GE Capital, Dealer Finance announced that it is doubling its sales force to support growing retail and wholesale demand for construction equipment financing. GE Capital’s lending to the construction industry grew 36% in 2011 and the outlook for 2012 activity is strong, necessitating additional staff. “The new hires will be spread across 10 regions in the U.S. to provide one-on-one assistance to our wholesale and retail customers when necessary,” said Kristi Webb, commercial leader of GE Capital, Dealer Finance.
Micron Technology, Inc. (NASDAQ:MU): Micron Technology and Virtensys announced that the companies have signed an agreement for Micron to acquire the assets of privately held Virtensys, a provider of PCIe-sharing solutions based in Manchester, England and Beaverton, Ore. The transaction is subject to closing conditions and is currently anticipated to close by the end of the month. Specific terms of the proposed agreement are confidential.
Ford Motor Company (NYSE:F): Stefan Jacoby, CEO of Volvo Cars, said the company is looking for a partner to co-develop new compact models based on technology it retains from former owner Ford (NYSE:F), reported Financial Times.
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