NEW YORK (TheStreet) -- Shares of JPMorgan Chase (JPM) were active in extended action on Tuesday after the banking giant announced an executive shakeup with Heidi Miller, the president of its international business, opting to retire.
The Dow component said Jes Staley, the CEO of its investment banking business, will take over Miller's responsibilities when Miller leaves the company in early 2012.
The stock was last quoted at $41.65, up a nickel, on volume of around 1 million, according to Nasdaq.com. Based on a regular session close at $41.60, the shares are down about 1.8% so far in 2011, having pulled back 14% since hitting a 52-week high of $48.26 on Feb. 16.
"Heidi has been a valued member of our Operating Committee and a trusted advisor to me over the years, and she has also served as a role model to countless others inside and outside of our firm," said Jamie Dimon, JPMorgan's CEO, in a press release. "We'll miss her greatly and wish her all the best in whatever she chooses to do next."JPMorgan also named Charlie Scharf a partner with One Equity Partners, its private equity arm. Scharf has served as CEO of the company's Retail Financial Services business, and Todd Maclin, the head of JPMorgan's commercial bank unit, will assume those responsibilities. Wall Street is still exceedingly bullish on JPMorgan with 28 of the 32 analysts covering the stock at either strong buy (12) or buy (16) with the 12-month median price target sitting at $54.
Scotts Miracle-GroShares of Scotts Miracle-Gro (SMG) fell in late trades after the company gave a below-consensus outlook for the full year, citing the impact of unfavorable weather and increased promotional activity. The Marysville, Ohio-based lawn and garden care products company said it expects adjusted earnings of $3.10 to $3.20 per share for fiscal 2011 ending in September. That view is below the current average estimate of analysts polled by Thomson Reuters for a profit of $3.65 a share. The stock fell 3% to $50.71 in late trades on volume of around 325,000. Based on a regular session close at $52.34, the shares were up 2.2% so far in 2011, although they hit a 52-week high of $60.62 as recently as May 10.
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