Authorities want to permanently ban two former JPMorgan Chase executives from the banking industry for allegedly trying to win business in China by giving plum jobs to the unqualified children of government officials.
It’s the latest shoe to drop in JPMorgan’s “Sons and Daughters” hiring scheme in China that regulators have condemned as a “systemic bribery scheme.”
The Federal Reserve on Friday said it’s seeking a fine of $1 million and a lifetime ban on Fang Fang, the former head of JPMorgan’s China investment bank, for violating anti-bribery laws.
Timothy Fletcher, who ran the JPMorgan hiring program and led the firm’s junior resources management group in Asia, is facing a $500,000 fine from the Fed in addition to a permanent ban.
Following a three-year investigation, regulators fined JPMorgan (JPM) $264 million in fines in November and alleged the bank “corruptly influenced government officials” with its hiring and internship tactics in China.
Top 10 Bank Stocks To Invest In Right Now: Virtus Investment Partners Inc.(VRTS)
Advisors’ Opinion:
- [By Lisa Levin]
Shares of Virtus Investment Partners Inc (NASDAQ: VRTS) got a boost, shooting up 19 percent to $111.05 following Q3 results. Virtus Investment posted Q3 earnings of $1.64 per share on revenue of $82.3 million.
Top 10 Bank Stocks To Invest In Right Now: Emerald Health Therapeutics, Inc. (TBQBF)
Advisors’ Opinion:
- [By Javier Hasse]
Emerald Health Therapeutics Inc (OTC: TBQBF) raised C$13.8 million ($10.5 million) under a bought deal financing.
“The money will be primarily used for facility expansion."
The Green Solution received a $7.5 million loan facility from iAnthus Capital Holdings Inc (OTC: ITHUF).
Top 10 Bank Stocks To Invest In Right Now: FormFactor, Inc.(FORM)
Advisors’ Opinion:
- [By Jim Robertson]
On Tuesday, our Elite Opportunity Pronewsletter suggested small cap semiconductor equipment & testing stock FormFactor, Inc (NASDAQ: FORM) as a short term long trade thats a pure small cap play with excellent valuation metrics, in addition to some very attractive chart implications right now:
Top 10 Bank Stocks To Invest In Right Now: (MALRF)
Advisors’ Opinion:
- [By SEEKINGALPHA.COM]
The other producing lithium miners, and soon to be producers. I have discussed these previously in detail here, here and here. Needless to say, the top 3 producers are non-pure plays (SQM (NYSE:SQM), Albemarle (NYSE:ALB), and FMC Corp. (NYSE:FMC)). The top pure play currently producing miners are Orocobre (ASX:ORE) (OTCPK:OROCF), Tianqi Lithium (SHE:002466), Jiangxi Ganfeng Lithium, Galaxy Resources, Mineral Resources [ASX:MIN] (OTC:MALRF), and Neometals [ASX:NMT] (OTC:RRSSF). The near-term producers include Altura Mining [ASX:AJM] (OTCPK:ALTAF), Pilbara Minerals (ASX:PLS) (OTC:PILBF), Kidman Resources (ASX:KDR), Critical Elements, Nemaska Lithium (OTCQX:NMKEF) [TSX:NMX], Lithium Americas (OTCQX:LACDF) [TSX:LAC], Lithium X (OTCQX:LIXXF) (TSXV:LIX), Neo Lithium, and Bacanora Minerals (OTC:BCRMF) [TSXV:BCN], Advantage Lithium (OTCQB:AVLIF) [AAL], European Metals (OTCPK:MNTCF, ASX:EMH, AIM:EMH) and Pure Energy (OTCQB:PEMIF) [PE].
Top 10 Bank Stocks To Invest In Right Now: Haier Electronics Group Co., Ltd. (HRELF)
Advisors’ Opinion:
- [By SEEKINGALPHA.COM]
2. Appliance Sale – This is another operating segment that the company did not consider core to its business, so management sold the segment to Haier (OTCPK:HRELF) for over $5b. The benefit: Additional capital can be allocated to the core operational areas.
- [By SEEKINGALPHA.COM]
The main business units of the Hong Leong Asia are the Diesel Engines Unit – China Yuchai , the Consumer Products Unit – Henan Xinfei (now marketed as “Frestec”), and the Building Materials Unit – BMU. The other business units in the company are the Industrial Packaging Unit – Rex and the Air-conditioning Systems Unit – Airwell. As the majority of the business units namely Yuchai, Xinfei and Airwell, operate in China (more than 80% of total revenue), the continual slowdown of the economic growth in China coupled with increasing competition has adversely affected both the revenue and the profitability. Particularly for the consumer products unit, its small scale has severely impacted its competitiveness given aggressive larger players like Haier (OTCPK:HRELF), Midea, Feilong Electric, and Hefei Meiling.
Top 10 Bank Stocks To Invest In Right Now: Fiat Chrysler Automobiles N.V.(FCAU)
Advisors’ Opinion:
- [By Trey Thoelcke]
At the Geneva Motor Show this week, Fiat Chrysler Automobiles N.V. (NYSE: FCAU) CEO Sergio Marchionne reportedly said that he remains open to a potential merger. “I may shamelessly try knocking on the GM door again, or any door, if I thought it was a good thing to do for the business, without even blinking, I could,” he said. “[I]t will happen, whether it happens on my watch or it happens after my watch, sensible people will come to the conclusion that there is a better way to run this business.” Marchionne aims to step down as CEO in 2019.
- [By John Rosevear]
For months, Trump has used tweetsto harangue U.S. manufacturers building factories outside of the country and pressure them to invest in U.S. plants instead. Earlier this month, Ford Motor Company (NYSE:F) and Fiat Chrysler Automobiles (NYSE:FCAU) both announced significant investments in U.S. factories. Ford also announced the cancellation of a plan to build a new factory in Mexico, which was well received among Trump supporters.
- [By Paul Ausick]
Source: courtesy of Fiat Chrysler AutomobilesFiat Chrysler Automobiles NV (NYSE: FCAU) reports monthly U.S. sales figures on six brands. In August five of those posted year-over-year sales declines
- [By Paul Ausick]
Among the Detroit Three the outlook is decidedly mixed. According to researchers at Kelley Blue Book (KBB), General Motors Co. (NYSE: GM) is forecast to sell 249,000 units, up 8.6% compared with November of 2015. GM’s U.S. market share is expected to reach 18.2%, up 0.7 percentage point year over year. Ford Motor Co. (NYSE: F) is touted to post a sales gain of just 0.1% with 189,000 units for a market share of 13.6%, down 0.6 point year over year. Fiat Chrysler Automobiles NV (NYSE: FCAU) is forecast to see unit sales drop 4.5% year over year to 168,000 and a market share of 12.3%, down 1.1 percentage points.
- [By Paul Ausick]
Of the Detroit Three, Fiat Chrysler Automobiles N.V. (NYSE: FCAU) increased its market share in the EU from 7.5% to 7.8% year over year, led by a 15.4% increase in sales of the company’s Fiat brand and a 44.5% jump in Alfa Romeo. Jeep brand sales dipped 7.2% year over year. FCA sold 107,950 units in May, up 11.5% compared with May 2016.
Top 10 Bank Stocks To Invest In Right Now: Gentex Corporation(GNTX)
Advisors’ Opinion:
- [By Lisa Levin] Related TRST Earnings Scheduled For October 21, 2016 Major Accounting Changes Are Coming To The Financial Industry
Related MORN One Of The World's Most Powerful Women, Fidelity Personal Investing President Kathleen Murphy, To Tell Her Story At The Benzinga Global Fintech Awards The 2017 Benzinga Global Fintech Awards Will Include An 'Unprecedented Group' Of Judges Morningstar Packs Conference Lineup For Financial Advisors (Investor’s Business Daily) Companies Reporting Before The Bell
Rockwell Collins, Inc. (NYSE: COL) is estimated to report quarterly earnings at $1.31 per share on revenue of $1.33 billion.
General Electric Company (NYSE: GE) is expected to report quarterly earnings at $0.17 per share on revenue of $26.46 billion.
Honeywell International Inc. (NYSE: HON) is estimated to report quarterly earnings at $1.60 per share on revenue of $9.32 billion.
Interpublic Group of Companies Inc (NYSE: IPG) is expected to report quarterly earnings at $0.03 per share on revenue of $1.76 billion.
Schlumberger Limited. (NYSE: SLB) is estimated to report quarterly earnings at $0.26 per share on revenue of $7.02 billion.
SunTrust Banks, Inc. (NYSE: STI) is expected to report quarterly earnings at $0.83 per share on revenue of $2.21 billion.
ManpowerGroup Inc. (NYSE: MAN) is projected to report quarterly earnings at $1.11 per share on revenue of $4.68 billion.
Kansas City Southern (NYSE: KSU) is estimated to report quarterly earnings at $1.15 per share on revenue of $593.82 million.
Stanley Black & Decker, Inc. (NYSE: SWK) is projected to report quarterly earnings at $1.19 per share on revenue of $2.74 billion.
WABCO Holdings Inc. (NYSE: WBC) is estimated to report quarterly earnings at $1.44 per share on revenue of $721.89 million.
Top 10 Bank Stocks To Invest In Right Now: Capella Education Company(CPLA)
Advisors’ Opinion:
- [By Lisa Levin]
Shares of Capella Education Company (NASDAQ: CPLA) got a boost, shooting up 32 percent to $86.60. Strayer Education Inc (NASDAQ: STRA) and Capella Education agreed to an all-stock merger. Capella Education also posted upbeat quarterly earnings.
Top 10 Bank Stocks To Invest In Right Now: LCA-Vision Inc.(LCAV)
Advisors’ Opinion:
- [By Lisa Levin]
Medical Practitioners: This industry jumped 2.82% by 10:15 am. The top performer in this industry was LCA-Vision (NASDAQ: LCAV), which rose 2.9%. LCA-Vision’s trailing-twelve-month revenue is $91.12 million.
Top 10 Bank Stocks To Invest In Right Now: The Charles Schwab Corporation(SCHW)
Advisors’ Opinion:
- [By Todd Shriber, ETF Professor]
Vanguard's latest fee cuts answer two such moves this year, including one this month, by rival BlackRock, Inc. (NYSE: BLK) and one fee reduction announcement by Charles Schwab Corp (NYSE: SCHW).
- [By Dan Caplinger]
Back in 2009, Charles Schwab (NYSE:SCHW) fired the first shot in the battle of the brokerage companies when it introduced commission-free ETFs to investors. The move ignited a movement among brokers to come up with ETF partnerships, some offering their own funds, while others made deals with existing ETF providers to offer their funds at no commission.
- [By Lee Jackson]
Charles Schwab Corp. (NYSE: SCHW) also had a famous investor selling stock this past week. The chairman of the company, Charles Schwab, continues to sell stock at an orderly pace. This week the iconic discount brokerage executive and the CEO of the company combined to sell a block of 400,000 shares at prices between $35.43 and $35.46. The total for the trades came to a whopping $14 million.As we have noted in the past, Mr. Schwab is past 80 years old, and clearly much of his selling over the years has been for estate planning purposes. The shares endedFriday at $37.48 so a fair amount left on the table.
