This Day On The Street
Continue to site right-arrow
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Business Highlights

___

Ex-KPMG partner pleads guilty in trading case

LOS ANGELES (AP) â¿¿ A former partner at the giant accounting firm KPMG LLC pleaded guilty Monday to a securities fraud charge that authorities said involved providing insider information to a friend who plied him with cash, a Rolex watch and other luxury items.

Scott London entered the plea in U.S. District Court in Los Angeles to the felony count that carries a maximum 20-year prison term. He's scheduled to be sentenced on Oct. 21. His attorney could argue for a lesser sentence.

Prosecutors said London gave privileged information to friend and jewelry store owner Bryan Shaw over several years.

Shaw then used the information to trade in advance of announcements from KPMG clients such as Herbalife Ltd. and Skechers USA Inc., authorities said. He is estimated to have reaped more than $1 million in profits.

___

Disney board extends Iger's CEO and chairman post

BURBANK, Calif. (AP) â¿¿ The Walt Disney Co.'s board wants Chairman and CEO Robert A. Iger to stick around a bit longer.

The media conglomerate said Monday that the board extended Iger's tenure through June 30, 2016, when his contract is due to expire.

Disney noted that the terms of Iger's contract were not changed.

Prior arrangements had Iger, 62, remaining CEO until April 1, 2015, and then as executive chairman for another 15 months to help in the transition to Disney's next CEO.

The extension suggests Disney's board has yet to make a decision on Iger's successor.

___

By The Associated Press=

The Dow Jones industrial average gained 65.36 points, or 0.4 percent, to 14,974.96. The S&P 500 index rose 8.68 points, or 0.54 percent, to 1,614.96. The Nasdaq composite rose 31.24 points, or 0.9 percent, to 3,434.49.

Benchmark crude for August delivery rose $1.43 to close at $97.99 a barrel on the New York Mercantile Exchange. In London, Brent crude gained 84 cents to end at $103 a barrel on the ICE Futures exchange.

4 of 5

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,203.37 -85.26 -0.47%
S&P 500 2,107.78 -9.61 -0.45%
NASDAQ 4,979.9010 -28.1950 -0.56%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs