On Thursday, Shares of JPMorgan Chase & Co. (NYSE:JPM), gained 0.68% to $61.38.
JPMorgan Chase & Co. is set to pay almost a third of a $1.86 billion settlement to resolve claims that a dozen big banks conspired to limit competition in the credit-default swaps market, Bloomberg stated.
JPMorgan is paying $595 million, Bloomberg said, citing people who asked not to be identified because the firms haven’t revealed how they’re splitting costs.
Morgan Stanley, Barclays Plc and Goldman Sachs Group Inc are paying about $230 million, $175 million and $164 million, respectively, the report said.
Morgan Stanley, JPMorgan and Barclays were not right away available to comment on the report. Goldman declined to comment.
Credit default swaps are contracts that let investors buy protection to hedge against the risk that corporate or sovereign debt issuers will not meet their payment obligations. Reuters Reports
JPMorgan Chase & Co. is a financial holding company. The Company is engaged in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset administration. JPMorgan Chase’s activities are organized into four business segments. The Company’s Consumer & Community Banking segment serves consumers and businesses through personal service at bank branches and through ATMs, online, mobile and telephone banking.
Shares of Schlumberger Limited. (NYSE:SLB), declined -1.94% to $67.63, during its last trading session, as falling crude prices put negative pressure on the energy sector.
Industry standard Brent crude for November delivery fell into negative territory after starting the day in the green, while West Texas crude is also down.
Oil prices were hurt by altered forecasts for Hurricane Joaquin, which has strengthened into a Category 3 storm that will hit land about 100 miles east of New York City in the coming days, according to CNBC.
The hurricane was formerly predictable to hit New Jersey and the New York Harbor where several oil refineries and pipelines are located.
Brent crude futures were down 0.76% to $48 per barrel while West Texas crude is down 0.18% to $45.01 per barrel after starting the day up over 1%.
Schlumberger N.V. is a supplier of technology, integrated project administration and information solutions to the international oil and gas exploration and production industry. The Company operates in the oilfield service markets through three Groups, which comprise Reservoir Characterization Group, which comprises of the principal technologies involved in finding and defining hydrocarbon resources; Drilling Group, which comprises of the principal technologies involved in the drilling and positioning of oil and gas wells, and Production Group, which comprises of the principal technologies involved in the lifetime production of oil and gas reservoirs and comprises Well Services, Completions, Artificial Lift, Well Intervention, Water Services and the Schlumberger Production Administration field production projects.
Shares of Corning Incorporated (NYSE:GLW), declined -1.69% to $16.83, during its last trading session.
Corning Incorporated, was downgraded by Zacks from a “hold” rating to a “sell” rating in a report issued on Tuesday, ARN reports.
According to Zacks, “Corning is primarily a developer of advanced glass substrates for multiple markets. Its second quarter earnings were ahead of the Zacks Consensus Estimate, despite the fact that revenues fell short. Currency is predictable to have a negative impact on results going forward, though most of it has been hedged. Net cash remains positive and interest payments small with respect to earnings. Going forward, Corning’s new and pipeline products will assist it to grow, particularly since the sapphire threat has become smaller with GTAT going out of business and the introduction of Project Phire.”
Corning Incorporated (Corning) is engaged in the manufacture of specialty glass and ceramics. The Company creates and makes keystone components that enable systems for consumer electronics, mobile emissions control, optical communications and life sciences. Corning operates in five segments: Display Technologies, which manufactures glass substrates; Optical Communications, which is engaged in providing optical solutions; Environmental Technologies, which manufactures ceramic substrates and filter products; Specialty Materials, which manufactures products that provide more than 150 material formulations for glass, glass ceramics and fluoride crystals, and Life Sciences segment, which is a developer, manufacturer and supplier of scientific laboratory products.
Finally, ArcelorMittal SA (ADR) (NYSE:MT), ended its last trade with -2.14% loss, and closed at $5.04.
ArcelorMittal, has received a “BB+” credit rating from analysts at Morningstar. The investment research firm’s “BB+” rating indicates that the company is an above-average default risk. They also gave their stock a zero star rating.
ArcelorMittal SA (ArcelorMittal) is a holding company. The Company is a steel and mining company, which operates through five segments: NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining. The Company produces a range of finished and semi-finished steel products. Specifically, it produces flat steel products, counting sheet and plate, and long steel products, counting bars, rods and structural shapes. In addition, the Company produces pipes and tubes for various applications.
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