On Wednesday, Shares of JPMorgan Chase & Co. (NYSE:JPM), lost -0.79% to $66.48.
JPMorgan Chase & Co., declared settlements with the U.S. Department of Justice (DOJ) and the Federal Reserve (Fed) relating to the Firm’s foreign exchange (FX) trading business. Under the DOJ resolution, JPMorgan Chase & Co. will plead guilty to a single antitrust violation and pay a fine of $550 million. Under the resolution with the Fed, the Firm will pay a fine of $342 million and has agreed to the entry of a Consent Order. The Firm has formerly reserved for these settlements.
These settlements are in addition to agreements declared in November 2014 with the U.K. Financial Conduct Authority, the U.S. Commodity Futures Trading Commission and the U.S. Office of the Comptroller of the Currency regarding the FX trading business. Today’s resolutions, along with similar government settlements with other major banks declared recently, call for certain remedial actions that are consistent with those required under the Firm’s preceding settlements regarding FX. The Firm has already commenced noteworthy efforts in this regard to assist ensure it is operating according to the high standards that the company and its regulators demand. With today’s agreements and the remediation and other efforts it is making, the company is able to continue to serve its clients and does not anticipate future material constraints on its business activities. The DOJ agreement will be presented to the court for its consideration. The Fed Agreement is effective right away.
JPMorgan Chase & Co., a financial holding company, provides various financial services worldwide. The company operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset Administration.
Shares of Xerox Corporation (NYSE:XRX), inclined 1.24% to $11.46, during its last trading session.
Xerox Corporation, board of directors declared a quarterly cash dividend of 7 cents per share on Xerox common stock. The dividend is payable on July 31, 2015 to shareholders of record on June 30, 2015.
The board also declared a quarterly cash dividend of $20 per share on Xerox Series A Convertible Perpetual Preferred Stock. The dividend is payable on July 1, 2015 to shareholders of record on June 15, 2015.
Xerox Corporation provides business process and document administration solutions worldwide. The company’s Services segment offers various business process outsourcing services, such as customer care, transaction processing, human resources, communication and marketing, and consulting and analytics services, in addition to finance, accounting, and procurement services.
At the end of Wednesday’s trade, Shares of Cheetah Mobile Inc. (NYSE:CMCM), gained 1.01% to $35.08, hitting its highest level, after Oppenheimer upped its price target to $42 from $30 and maintained its “outperform” rating.
The company’s strong first quarter results, released yesterday morning, exceeded Oppenheimer analysts estimates, on stronger mobile monetization and less-than-predictable spending, analysts said.
The Beijing-based company stated revenue of $108.48 million, or 9 cents per share, contrast to revenue of $50.79 million, or 3 cents per share from a year ago period.
In the first quarter, the Chinese mobile-security service company was predictable to report revenue of $106.2 million, or 5 cents per share, according to analysts polled by Thompson Reuters.
Cheetah Mobile Inc. operates a platform that offer mobile and PC applications for users and global content distribution channels for business partners in China. The company’s suite of applications optimizes mobile and PC Internet system performance and provides real time protection against known and unknown security threats.
Finally, ConAgra Foods, Inc. (NYSE:CAG), ended its last trade with 0.96% gain, and closed at $38.90, hitting its highest level.
ConAgra Foods, declared a negotiated resolution by a partner, ConAgra Grocery Products Company LLC, with the Office of the United States Attorney for the Middle District of Georgia and the Consumer Protection Branch of the Department of Justice. The resolution relates to the formerly declared investigation into a peanut butter recall that occurred in February 2007, more than eight years ago. Peter Pan peanut butter is safe for consumers to continue to eat.
ConAgra Foods right away and voluntarily recalled its Peter Pan peanut butter in February 2007 once the presence of salmonella was suspected. Peter Pan peanut butter was reintroduced into the marketplace in August 2007 after ConAgra Foods took noteworthysteps to improve the Sylvester, GA., facility where Peter Pan was made, using new knowledge about the potential for salmonella in peanut butter.
“We did not, and never will, knowingly ship a product that is not safe for consumers. We’ve invested heavily in leading-edge food safety technology and practices over the past eight years, and we are thankful for all of the people who recognize that and are loyal Peter Pan fans,” said Dr. Al Bolles, chief technical and operations officer for ConAgra Foods. “ConAgra Foods took full responsibility in 2007, taking immediate steps to determine the potential causes of and solutions for the problem and acting quickly and definitively to inform and protect consumers. This incident brought to light formerly unknown aspects of making safe peanut butter, and we have been passionate about sharing what we learned to assist others join us in creating an even safer food supply. We will remain vigilant to maintain the trust we’ve worked so hard to earn from our consumers.”
ConAgra Foods, Inc. operates as a food company primarily in North America. The company operates through three segments: Consumer Foods, Commercial Foods, and Private Brands. The Consumer Foods segment provides branded food products in various categories, such as meals, entrees, condiments, sides, snacks, and desserts to various retail channels, such as grocery and convenience stores across frozen, refrigerated, and shelf-stable temperature classes.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
