The bank will pay $100 million to the U.S. Commodity Futures Trading Commission, conceding "reckless" behavior led to the trading debacle that generated about $6 billion in losses.
Former London-based JPMorgan (JPM, Fortune 500) trader Bruno Iksil, whose team is thought to be responsible for the complex derivatives bet, was nicknamed the "London Whale" due to the massive trading position.
The CFTC said in a statement Wednesday that by selling a staggering volume of these swaps in a concentrated period, the bank "recklessly disregarded the fundamental precept on which market participants rely, that prices are established based on legitimate forces of supply and demand."
Best Cheap Companies For 2015: Malvern Federal Bancorp Inc.(MLVF)
Malvern Federal Bancorp, Inc. operates as the bank holding company for Malvern Federal Savings Bank, which is a federally chartered savings bank. It provides banking services in Pennsylvania. The company engages in attracting deposits from the general public and using those funds to invest in loans and investment securities. Its deposit products include interest-bearing and non-interest-bearing checking accounts, as well as money market, savings, and certificate of deposit accounts. The company?s loan products principally include one-to four family residential mortgage loans; and consumer loans comprising home equity loans, home equity lines of credit, automobile loans, unsecured personal loans, and loans secured by deposits. It conducts business from its headquarters and eight full-service branches in Chester and Delaware Counties, Pennsylvania. The company was founded in 1887 and is headquartered in Paoli, Pennsylvania.
Advisors' Opinion:- [By Tim Melvin]
Malvern Federal (MLVF) is a great example of a small financial institution at a cheap price with a sound financial condition. The bank has 8 branches in the Chester and Delaware counties of Pennsylvania. The bank has been around since 1897 and currently has about $600 million in assets. MLVF has a great balance sheet, with an equity-to-assets ratio of 10.9 and nonperforming assets that are just 1.98% of total assets.
Top 5 Healthcare Technology Companies To Own For 2014: Harley-Davidson Inc. (HOG)
Harley-Davidson, Inc. produces and sells heavyweight motorcycles, as well as offers motorcycle parts, accessories, and related services. It operates in two segments, Motorcycles and Related Products, and Financial Services. The Motorcycles and Related Products segment engages in the design, manufacture, and sale of primarily heavyweight cruiser and touring motorcycles primarily in North America, Europe, the Middle East, Africa, the Asia/Pacific, and Latin America. It also provides a line of motorcycle parts and accessories, including replacement parts, and mechanical and cosmetic accessories; general merchandise, such as apparel and riding gear; and related services. This segment manufactures five families of motorcycles, including Touring, Dyna, Softail, Sportster, and VRSC; and offers its products under the Harley-Davidson brand name. The Financial Services segment provides wholesale and retail financing, and insurance and insurance-related programs to the company?s deal ers and retail customers in the United States and Canada. It involves in financing and servicing wholesale inventory receivables and retail consumer loans, principally for the purchase of Harley-Davidson motorcycles. This segment?s wholesale financial services comprise floorplan and open account financing of motorcycles, and motorcycle parts and accessories to Harley-Davidson dealers; and retail financial services include installment lending for the purchase of its new and used motorcycles. This segment also offers motorcycle insurance and property/casualty insurance, as well as sells extended service contracts, gap coverage, and debt protection products to motorcycle owners. Harley-Davidson sells its products through independent dealers and distributors. The company was founded in 1903 and is based in Milwaukee, Wisconsin.
Advisors' Opinion:- [By Shauna O'Brien]
BMO Capital reported on Friday that it has raised its estimates on Harley-Davidson, Inc. (HOG).
The firm has raised estimates on HOG through 2014 as the customer reaction to the 2014 models has been positive. Analysts currently have an “Outperform” rating and $74 price target on HOG. This price target suggests a 13% upside from the stock’s current price of $64.47.
Harley-Davidson shares were mostly flat during pre-market trading Friday. The stock has increased 32% YTD.
- [By Douglas A. McIntyre]
The balance of the top 10 are ones which almost any consumer could identify. In order of four through ten: Johnson & Johnson (NYSE: JNJ), Harley Davidson Inc.�(NYSE: HOG), Walt Disney Co. (NYSE: DIS), PepsiCo Inc. (NYSE: PEP), American Express Co. (NYSE: AXP), Kellogg Co. (NYSE: K) and Apple Inc.�(NASDAQ: AAPL).
- [By Matt Koppenheffer]
22. On Harley-Davidson (NYSE: HOG ) and its customers' loyalty: "Any company that gets its customers to tattoo ads on their chests can't be all bad."
Top 5 Healthcare Technology Companies To Own For 2014: Prumo Logistica SA (LLXL3)
Prumo Logistica SA, formerly LLX Logistica SA (LLX), is a Brazil-based company primarily engaged in the sector of port logistic services. The Company builds and develops the Acu Port, located in Sao Joao da Barra, in the north of the State of Rio de Janeiro. The Industrial Complex Acu Port has two port terminals (T1 and T2) and the capacity to handle various types of cargo, such as petroleum, iron ore, coal, solid and liquid bulk and general cargo. The Company�� subsidiaries include LLX Minas-Rio Logistica Comercial Exportadora SA, LLX Acu Operacoes Portuarias SA and LLX Brasil Operacoes Portuarias SA. In October, 2013, EIG LLX Holdings SARL reached a 52.82% stake in the ordinary share capital of the Company. Advisors' Opinion:- [By Denyse Godoy]
A committee of exchange executives, banks and brokerages developed the changes to the benchmark index. BM&FBovespa said on its website that it hadn�� made changes to the gauge�� methodology since its inception in 1968. LLX Logistica SA (LLXL3), the shipping unit that Batista founded, is the second-lowest priced stock on the Ibovespa after dropping 36 percent this year to 1.53 reais.
Top 5 Healthcare Technology Companies To Own For 2014: Ampco-Pittsburgh Corporation(AP)
Ampco-Pittsburgh Corporation and its subsidiaries manufacture and sell custom-engineered equipment in the United States and internationally. It operates in two segments, Forged and Cast Rolls, and Air and Liquid Processing. The Forged and Cast Rolls segment produces forged hardened steel rolls used in cold rolling for the producers of steel, aluminum, and other metals; and cast iron and steel rolls for hot and cold strip mills, medium/heavy section mills, and plate mills. The Air and Liquid Processing segment manufactures finned tube and plate finned heat exchange coils for the commercial and industrial construction, as well as for process and utility industries; custom air handling systems used in commercial, institutional, and industrial buildings; and a line of centrifugal pumps for the refrigeration, power generation, and marine defense industries. The company was founded in 1929 and is based in Pittsburgh, Pennsylvania.
Advisors' Opinion:- [By Anita Bruzzese]
President Barack Obama embraces an unidentified woman Sept. 22, 2013, at a memorial service for the victims of the Washington Navy Yard shooting.(Photo: AP)
- [By AP 6:27 p.m. EDT October 19] LONG BEACH, Calif. (AP) ��The oil production technique known as fracking is more widespread and frequently used in the offshore platforms and man-made islands near some of California's most populous and famous coastal communities than state officials believed.
- [By Elaine Ganley] PARIS (AP) ��As Romeo said: "My bounty is as boundless as the sea ��the more I give to thee, the more I have." His modern-day counterparts ��the kind with deep pockets ��are going all out to offer extravagant, star-studded weddings to their own Juliets.
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