P&G Launches “Tide Simply Clean” and 2 Other Dow Movers to Watch
Procter & Gamble Co. (NYSE:PG): Current price $77.46
On Wednesday, P&G Chief Executive A.G. Lafley said during a Barclays conference (also a webcast) that his company is launching a lower-priced “Tide Simply Clean” liquid detergent for consumers in the United States, but that it is “not very interesting” to present Tide users.
Lafley observed that the consumer products company does not expect the new, lower-priced version to draw current Tide users away from the premium-priced detergent. The number-one household products firm faces competition in the lower-priced laundry category from rivals Church & Dwight Co Inc.’s Arm & Hammer and Xtra.
JPMorgan Chase & Co. (NYSE:JPM): Current price $51.84
Authorities in the United States are conducting a criminal inquiry into whether some employees of JPMorgan Chase & Co attempted to block a regulatory probe into claimed manipulation of power markets, according to several inside sources. The investigation is in its early phase and is being run by the Federal Bureau of Investigation, along with prosecutors in the Manhattan United States Attorney Preet Bharara’s office.
The new probe comes after a JPMorgan subsidiary agreed on July 30 to pay a $410-million penalty to resolve a manipulation case brought by the Federal Energy Regulatory Commission. The sources indicated that investigators intend to determine whether individuals at JPMorgan gave regulators all the information required to investigate JPMorgan’s power market deals in California and in the Midwest.
International Business Machines Corp. (NYSE: IBM): Current price $183.27
IBM and Monitise on Wednesday announced an accord that strengthens Visa Europe’s capacity to supply its member banks with new mobile banking, payment, and commerce services in the cloud for its customers. IBM will aid Monitise in extending and scaling the adoption of these services with Visa Europe and develop additional services to bring to the mobile marketplace.