Apple’s E-Book Oversight, Johnson & Johnson’s New Appointment, and 3 More Hot Stocks
Apple Inc. (NASDAQ:AAPL): U.S. District Judge Denise Cote is planning to narrow the scope of the proposed oversight regarding Apple’s e-book price-fixing case, the Wall Street Journal is reporting. The oversight would cover just e-books and not other projucts such as movies, music and TV shows, as per the Department of Justice’s initial request. Cote also plans to order Apple to appoint an external monitor on a limited basis to supervise the company’s antitrust compliance.
Johnson & Johnson (NYSE:JNJ): The healthcare titan has appointed Jesse Wu, currently the worldwide chairman of its consumer segment, to be the chairman of Johnson & Johnson China. The new position is apart of the company’s efforts to bolster sales growth and centralize corporate oversight. Lynn Pendergrass, formerly of Hewlett-Packard, will be filling in Wu’s role.
JPMorgan Chase & Co. (NYSE:JPM): JPMorgan is expected to shell out as much as $500 million-$600 million in a “global” settlement to resolve probes by various U.S. and U.K. authorities, which are looking into the bank’s London Whale debacle. Whatever the settlement falls at, the charges will likely include a failure of oversight on JPMorgan’s part while SEC officials have insisted that JPMorgan admit misconduct as part of any civil settlement with the agency.
Bank of America (NYSE:BAC): Bank of America has agreed to pay $160 million to settle a discrimination lawsuit brought by black financial advisers who charged the bank of not giving them the same opportunities as white staff in investment teams and account distribution. The suit was first launched by one individual in 2005, but quickly ballooned to include hundreds of other people.
KKR & Co. (NYSE:KKR): KKR is apparently among the interested parties asked to submit bids for the Neiman Marcus department store chain by Wednesday of next week, as its owners TPG and Warburg Pincus and private-equity firms consider alternatives to an IPO. The brand is valued at around $6 billion were an IPO to take place.
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