NEW YORK -- General Electric's (GE) credit rating was downgraded a notch by Moody's because the agency said it sees risks associated with the funding model of GE's lending unit, General Electric Capital Corp.
GE was cut to Aa3 from Aa2. GE Capital's rating was cut by two notches to A1 from Aa2.
Moody's said because GE Capital is so big, it must rely on funding from financial markets, which aren't reliable and where risks remain.
Regulators are set to penalize JPMorgan Chase (JPM) for actions tied to the demise of Lehman Brothers in 2008, The New York Times reported, citing people briefed on the matter. The Commodity Futures Trading Commission is expected this week to file a civil case against JPMorgan. The bank is expected to settle the matter and pay a fine of about $20 million, the newspaper said. The action by the CFTC will be the first federal enforcement case to stem from Lehman's downfall, according to the Times. The CFTC is expected to accuse JPMorgan of overextending credit to Lehman for two years leading up to its bankruptcy in 2008, the people briefed on the matter said.
Monsanto (MON), the agriculture giant, s expected by analysts Wednesday to post fiscal second-quarter earnings of $2.11 a share on revenue of $4.53 billion. 3 Bank Stocks With Bigger Price Targets From KBWs
SanDisk (SNDK), the flash memory company, lowered revenue and gross margin expectations for its fiscal first quarter, citing "weaker than expected pricing and demand." SanDisk said it now sees revenue of roughly $1.2 billion vs. a prior projection for a range of $1.3 billion to $1.35 billion. Analysts are forecasting revenue of $1.34 billion in the quarter, which ends this month. 2 ETFs to Buy if You Agree With Jamie Dimon
Walgreen (WAG) , the drugstore operator, reports same-store sales for March. 6 Leadership Tips From Ford CEO Alan Mulally
-- Written by Joseph Woelfel
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