Investors Awed By Jamie Dimon’s Voice – and Other News Told in Charts
JPMorgan Chase (JPM) chief Jamie Dimon paid another visit to Capitol Hill yesterday to discuss why and how the so-called London Whale recently lost billions with over-the-counter derivatives. Dimon faced a grilling from the House Financial Services Committee, tussling with the likes of Representative Barney Frank, who co-authored the Dodd-Frank financial overhaul bill, reports the New York Times. Maybe it was what Dimon said, or maybe it was how he said it, but here's what happened to JPMorgan stock before, during and after his appearance:
Nasdaq Goes Missing At Today’s Hearing About Exchanges
Nasdaq (NDAQ) chief Robert Griefeld won’t be speaking at today’s House Financial Services Committee panel, despite likely talk about market glitches that occurred at Nasdaq during Facebook’s (FB) IPO. The Wall Street Journal says Griefeld declined an invitation to speak. That leaves other people including Credit Suisse’s (CS) equity trading head Dan Mathisson to speak their minds instead, and Mathisson plans to say that exchanges should be held legally responsible for glitches, reports Reuters. Nasdaq has proposed a $40 million compensation plan, while brokers and customers say they lost more than 10 times that amount.
Lockheed Martin Fights Defense Spending Cuts
Lockheed Martin (LMT) says that if the U.S. cuts an additional $500 billion in defense spending, that would cause layoffs, plant closures, and an erosion of product quality, reports Reuters. The cuts Chief Executive Bob Stevens is protesting are part of $1.2 trillion in budget slashing meant to take a stab at the federal deficit.