This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Stocks to Watch: JPMorgan, Yahoo! (Update 1)

NEW YORK -- Three high-ranking executives are expected to leave JPMorgan Chase (JPM - Get Report) this week, according to a report.

The expected departures come in the wake of the bank's disclosure last week that it lost $2 billion because of trades that went awry.

The Wall Street Journal reported that Ina Drew, the bank's chief investment officer; Achilles Macris, who headed the London desk that placed the trades; and trader Javier Martin-Artajo, a managing director on that desk, will leave the bank.

There are also reports that Bruno Michel Iksil, known as the "London Whale" for big positions he took in credit markets, may leave JPMorgan, which is the biggest bank in the United States by assets.

Shares of JPMorgan fell 29 cents, or 0.78%, to $36.67 in premarket trading Monday.

Jamie Dimon's $2 Billion Hangover


Yahoo! (YHOO - Get Report) CEO Scott Thompson has stepped down and the company has reached a settlement with activist hedge fund manager Daniel Loeb's Third Point LLC.

The Internet company said Sunday it appointed Ross Levinsohn, Yahoo!'s global head of media, to serve as interim CEO.

A press release from Yahoo! didn't mention the reasons for Thompson's departure, but the changes come amid controversy over his biography. The CEO had said he had received a computer science degree from Stonehill College, but activist shareholder Loeb recently attacked that claim as incorrect.

Reports Monday say before he resigned at CEO of Yahoo!, Thompson disclosed to the company's board that he has been diagnosed with thyroid cancer. The decision to step down was in part influenced by Thompson's cancer diagnosis, a person familiar with the matter told The Wall Street Journal.

Yahoo! shares rose 1.38% in premarket trading Monday to $15.41.

Is Apple's Golden Goose About to Be Cooked?


Chesapeake (CHK - Get Report) said Friday it received a $3 billion loan from Goldman Sachs and Jefferies Group, giving the company more time to sell assets and lower its debt. Earlier in the day, Chesapeake said it might have to delay some planned asset sales because of debt agreements it had.

Over the weekend, reports said Chesapeake expects Carl Icahn to disclose he has taken a significant stake in the oil and gas company.

Shares of Chesapeake jumped 7.43% in premarket trading Monday to $15.91.


Groupon (GRPN - Get Report), the daily deal site, is expected to post quarterly results after markets close Monday, and analysts forecast a loss of 5 cents a share on revenue of $530 million.

Green Mountain Margin Call Latest Sign Market Is Stuck in 1929


The board of Avon Products (AVP - Get Report) is considering a buyout offer from Coty that it previously rejected after Coty lifted the terms of the deal, Avon said Sunday.

Coty said last week that it would increase its bid for Avon to $24.75 a share, or almost $10.7 billion, from its previous offer of $23.25, or $10 billion.

Shares of Avon rose 3.37% in premarket trading Monday to $20.87.

-- Written by Joseph Woelfel

>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to: tips@thestreet.com.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
GRPN $4.46 -2.90%
JPM $63.80 -0.51%
YHOO $32.45 -2.10%
AVP $5.12 -0.78%
CHK $7.63 3.20%

Markets

Chart of I:DJI
DOW 16,510.59 -132.42 -0.80%
S&P 500 1,977.77 -11.10 -0.56%
NASDAQ 4,801.7580 -26.5670 -0.55%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs