NYSE/NASDAQ SNAPSHOT: Barclays, Chesapeake Energy, GM, JPMorgan, Microsoft and othersReported by Proactive Investors on Tuesday, 3 July 2012 (on July 3, 2012)
In the latest update,* Barclays (NYSE:BCS) (LON:BARC) *Tuesday announced that its recently appointed chief operating officer, Jerry del Missier, has followed chief executive Bob Diamond and resigned from the bank in the wake of the London Interbank Lending Rate (Libor) scandal.
Barclays said Canadian del Missier, who worked with Diamond for years and was appointed COO last month, will leave with immediate effect.
Barclay’s chairman Marcus Agius said the bank’s chief operating officer resigned because he was the one that instructed traders to put in artificially low submissions to the panel that sets the London Interbank Offered Rate.
Research and advisory company *Corporate Executive Board Co. (NYSE:EXBD)* said Tuesday that it plans to buy U.K.-based SHL for $660 million to boost its talent management business.
SHL helps companies with recruitment, employee development and succession planning. It counts Barclays (NYSE:BCS), Coca Cola Co. (NYSE:KO) and Dell (NASDAQ:DELL) as its clients.
*Chesapeake Energy (NYSE:CHK) a*nd *Encana Corp (TSE:ECA) (NYSE:ECA)* are reportedly under investigation by the US Justice Department for possible collusion in Michigan land deals two years ago.
According to media reports citing a person familiar with the probe, the investigation started after a Reuters report showed that top executives from the two rival companies plotted to avoid bidding against each other in Michigan land deals in 2010.
*BlackRock (NYSE:BLK),* the world's biggest fund manager, Tuesday acquired Swiss Re's European private equity arm. This marks the second deal for a private equity fund manager in as many days as sellers contend with a new regulatory landscape and tough trading.
*The Boeing Co. (NYSE:BA) *Tuesday released its 2012 Current Market Outlook (CMO) that projects a $4.5 trillion market for 34,000 new commercial airplanes over the next 20 years.
Boeing said that commercial airline traffic is forecast to grow at a five per cent annual rate over the next two decades, with cargo traffic projected to grow at an annual rate of 5.2 per cent.
The Big Three U.S. auto manufacturers - *General Motors Co. (NYSE:GM), Ford Motor Co. (NYSE:F)* and Chrysler Group - exceeded estimates for June motor vehicle sales.
GM said June sales climbed 16 per cent, beating the 7.6 per cent increase that was the average of analyst estimates.
*Enbridge (TSE:ENB)(NYSE:ENB)* reported late Monday it received a notice of probable violation from U.S. safety regulators dating back to a oil spill near Marshall, Michigan in 2010.
The Pipeline and Hazardous Materials Safety Administration (PHMSA) has proposed a $3.7 million civil penalty against Enbridge, and gave the company 30 days to reply.
*Verso Paper (NYSE:VRS)* saw its shares soar more than 70 per cent Tuesday, after proposing a potential merger with rival NewPage Corp., which filed for bankruptcy in September.
The maker of coated paper reported that it held discussions with certain holders of 11.375 percent first-lien secured notes of NewPage, regarding a potential merger as part of a plan of reorganization in NewPage’s chapter 11 bankruptcy proceedings.
*Research In Motion (NASDAQ:RIMM)(TSE:RIM)* saw its shares continue their downward trend Tuesday as CEO Thorsten Heins challenged the notion that the company might not survive in a CBC radio interview.
*Microsoft (NASDAQ:MSFT)* is absorbing a $6.2 billion charge to reflect a huge corporate deal that went sour. The non-cash charge announced late Monday could result in a loss for the fiscal fourth-quarter ended in June. Analysts had predicted Microsoft would earn about $5.3 billion for the period. Results are due July 19.
Korean electronics giant *Samsung* has failed in an attempt to get a ban lifted on sales of its Galaxy Tablet 10.1 in the US.
The ban was imposed last week by US district Judge Lucy Koh in the latest round of an ongoing worldwide patent battle between the heavyweight Korean firm and *Apple (NASDAQ:AAPL) *that is scheduled to reach the US courts on July 30.
Golf and tennis equipment retailer *Golfsmith International Holdings (NASDAQ:GOLF) *said Tuesday preliminary second quarter sales rose nearly 12 per cent.
For the thirteen-week period that ended June 30, net revenue totalled $146.0 million compared to last year’s total of $130.2 million.
*Chelsea Therapeutics (NASDAQ:CHTP)* shares sunk more than 40 per cent Tuesday after it said the US FDA suggested a new trial may be needed to study the efficacy of its hypotension capsule Northera, calling current data inadequate.
The drug, known generically as droxidopa, is designed for symptomatic neurogenic orthostatic hypotension - a chronic and often debilitating drop in blood pressure upon standing up, most often associated with nervous system disorders.
*Silgan Holdings Inc. (NASDAQ:SLGN), *a consumer goods packaging company, reported Tuesday Morning it has struck a deal to buy Rexam’s plastic food business.
The transaction, which is slated to close by the third quarter, is pegged at $250 million. Silgan plans to fund the deal with cash on hand.
*MModal (NASDAQ:MODL), *a provider of medical transcription services, Tuesday agreed to be purchased by JP Morgan Chase & Co. (NYSE:JPM) in a $1.1 billion cash deal.
One Equity Partners, the private investment arm of JP Morgan, will pay $14 per share in cash for MModal. The deal is slated to close by the third quarter.
Online games company *Activision Blizzard (NASDAQ:ATVI)* said Tuesday it has struck a multi-year deal with Tencent Holdings to bring Call of Duty Online to game players in China.
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