Apple Inc. (NASDAQ:AAPL): If you ever want to move units of something, make it free: Apple’s Mavericks operating system, free for existing Mac users, has been downloaded at a record-setting pace. Reports show that user adoption of OS X Mavericks in the U.S. and Canadian markets reached 5.5 percent within the first 24 hours after the software’s release, trouncing the 1.6 percent set by OS X Mountain Lion last year.
JPMorgan Chase & Co. (NYSE:JPM): The Office of the Comptroller of the Currency has informed U.S. Attorney Preet Bharara that probing JPMorgan’s role in overlooking Bernie Madoff’s colossal Ponzi scheme would trigger a review of JPMorgan’s charter. Currently, the bank and prosecutors are in talks about a deferred prosecution agreement in which the prosecution would file charges that would be dismissed after a set period of time if the bank meets certain conditions.
Barclays PLC (NYSE:BCS): Barclays has been found liable of a breach of contract in a lawsuit filed by a unit of Black Diamond Capital, which is seeking more than $300 million in collateral from a derivative agreement. Black Diamond submits that Barclays defaulted on a total return swap when the British bank didn’t repay more than $40 million of collateral that Black Diamond demanded.
Eli Lilly & Co. (NYSE:LLY): The Food and Drug Administration has approved a label addition for Lilly’s Cialis ”to include data from a 26-week study that showed 5 mg for once daily use started in combination with finasteride significantly improved the signs and symptoms of BPH,” as the drug showed promise when it came to treating benign prostatic hyperplasia, and Cialis showed results of improvement in as little as four weeks.
Citigroup Inc. (NYSE:C): Citigroup will be selling its mortgage-servicing rights on $63 billion of loans, or about 21 percent of its total contracts, at midyear in continued efforts to reduce its role in the home lending industry amid more stringent regulatory policies. Banks have been steadily backing out of MSR activities as Basel III laws require the banks to hold more capital against those assets.