On Monday, Shares of JPMorgan Chase & Co. (NYSE:JPM), gained 0.46% to $66.08.
The risk of Greece missing a debt payment is driving away even some of the most faithful advocates of its debt, according to Bloomberg.
JPMorgan Chase & Co. was for most of this year a champion of Greece’s long-dated government bonds, even as a flare-up in the country’s debt crisis once again raised the prospect of default and euro exit.
On Friday, the U.S. bank recommended investors take 10 basis points of profit on a long position in the 3 percent Greek bond maturing in February 2042, as increasing pressure on the liquidity position of the government and banking sector meant some kind of resolution may be approaching. JPMorgan first recommended buying the bond on Jan. 28.
The recommendation comes as Greece and its creditors trade accusations over a lack of progress in the talks. Greece must make four payments totaling almost 1.6 billion euros ($1.78 billion) to the International Monetary Fund in June and its bailout package backed by the euro region expires at the end the month. The standoff over the terms attached to the international aid has triggered a liquidity squeeze and record deposit outflows, tipping the economy back into recession. Bloomberg Reports.
JPMorgan Chase & Co. provides various financial services worldwide. The company operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset Administration.
Shares of Staples, Inc. (NASDAQ:SPLS), declined -0.43% to $16.40, during its last trading session.
Staples, declared that its Board of Directors has declared a quarterly cash dividend on Staples, Inc. common stock of $0.12 per share. The dividend is payable on July 16, 2015, to shareholders of record on June 26, 2015.
Staples, Inc., together with its auxiliaries, operates office products superstores. It operates through three segments: North American Stores & Online, North American Commercial, and International Operations.
At the end of Monday’s trade, Shares of Pandora Media, Inc. (NYSE:P), lost -1.34% to $18.42.
Pandora Media, has partnered with Mumford & Sons and Glassnote Records to live stream the band’s sold out Merri-weather Post Pavilion show on Wednesday, June 10 at 9 PM EST.
Pandora Media, Inc. provides Internet radio services in the United States. The company allows listeners to create up to 100 personalized stations to access free music and comedy catalogs, in addition to offers Pandora One, a paid subscription service to listeners.
Finally, Baxter International Inc. (NYSE:BAX), ended its last trade with -0.39% loss, and closed at $66.35.
Baxter Ventures, the venture arm of Baxter International, declared the formation of Vitesse Biologics, LLC,Vitesse is a unique partnership model initiated by Baxter Ventures to focus on the development of antibody and protein-based therapeutics in the areas of immunology, hematology, and oncology. Following the spin-off of Baxter BioScience as Baxalta Incorporated, anticipated to take place by mid-2015, the Vitesse relationship will be managed by the planned venture arm, Baxalta Ventures, for the new company.
The partnership model, which represents a new method of drug development, was designed to incent each partner to advance promising therapies quickly through the development process. Each partner will provide its recognized expertise to enhance the target selection, target optimization, expression and product development process. Baxter BioScience will provide global commercialization, antibody and protein development and manufacturing capabilities; Mayo Clinic researchers will execute the Phase I clinical trials; VPD will be responsible for target identification, selection of early stage drug candidates and will lead the design and execution of pre-clinical and clinical protocols.
Baxter International Inc., develops, manufactures, and markets products for people with hemophilia, immune disorders, infectious diseases, kidney disease, trauma, and other chronic and acute medical conditions. The company’s BioScience segment processes recombinant and plasma-based proteins to treat hemophilia and other bleeding disorders.
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