Wells Fargo Will Issue Cards on American Express Network and 2 Other Dow Movers to Watch
American Express Co. (NYSE:AXP): Current price $75.00
Wells Fargo & Co. will partner with the No. 1 credit card issuer by purchases on the planet to offer cards accepted on American Express’s network of merchants. Wells Fargo, the No. 1 domestic home lender, will commence a pilot program in certain American markets in the third quarter before offering to all customers a full program beginning in the first half of next year, according to a joint statement released by the companies. Financials of the deal were not reported.
JPMorgan Chase & Co. (NYSE:JPM): Current price $55.42
JPMorgan and Glencore Xstrata will face a lawsuit claiming that the two artificially inflated aluminum prices, marking the second legal challenge linked to metal warehousing within a week. The suit was filed in a district court in Florida and also names Goldman Sachs, the London Metal Exchange, and subsidiaries of both JPMorgan and Goldman, accusing the firms of antitrust practices and racketeering.
Hewlett-Packard Co. (NYSE: HPQ): Current price $26.64
Hewlett-Packard announced Wednesday that the New Zealand government agency Northland Regional Council has chosen HP Converged Infrastructure to enhance employee output by increasing the performance, scalability, and efficiency of its virtualized information tech environment, according to a press release. NRC supplies environmental and emergency management, public transport planning and funding, and coastal navigation and safety services to 159,000 residents of northern New Zealand.