Stocks

Enhance investor confidence

Washington, D.C., July 1, 2009 — The Securities and Exchange Commission today voted on three measures that are intended to better inform and empower investors to improve corporate governance and help restore investor confidence.

The Commission proposed requiring public companies receiving money from the Troubled Asset Relief Program (TARP) to provide a shareholder vote on executive pay in their proxy solicitations The Commission also voted to propose better disclosure of executive compensation at public companies in their proxy statements, and approved a New York Stock Exchange rule change to prohibit brokers from voting proxies in corporate elections without instructions from their customers.    » read more »

New system offers more speed, flexibility and scalability

NEW YORK, July 1, 2009 -- The New York Stock Exchange (NYSE), a subsidiary of NYSE Euronext (NYX), has reduced the time it takes to execute an order to five milliseconds from 105 milliseconds, with the implementation of the new NYSE Super Display Book system (SDBK) for processing orders. As a result, NYSE customers are experiencing trade executions and reports within five milliseconds, as well as order and cancellation acknowledgments in just two milliseconds.    » read more »

June 23, 2009 -- CHARLOTTE, N.C. -- Duke Energy has declared a quarterly cash dividend on its common stock of $0.24 per share, an increase of $0.01 over the previous level. The dividend is payable on Sept. 16, 2009, to shareholders of record on the close of business Aug. 14, 2009.

"Despite challenging economic conditions, Duke Energy continues to successfully implement its business strategy. We are pleased to share this success with our investors," said James E. Rogers, chairman, president and CEO.

This is the 83rd consecutive year that Duke Energy has paid a quarterly cash dividend on its common stock.

Source: Duke Energy (NYSE:DUK)

CHARLOTTE, N.C., June 23 -- Bank of America Corporation today announced the common stock average price of $12.7048 for its offers to exchange up to 200 million shares of common stock for outstanding depositary shares for each series of preferred stock listed below. The exchange offer consists of separate offers for depositary shares representing each series of the preferred stock listed below.    » read more »

June 22, 2009 -- Five individuals pleaded guilty today in federal court in Detroit for their roles in a wide-ranging international stock fraud scheme involving the illegal use of bulk commercial e-mails, or "spamming."    » read more »

June 22 2009 -- Riyadh -- Morgan Stanley (NYSE:MS) today announced that Morgan Stanley Saudi Arabia (MSSA) has launched equity trading on the KSA stock exchange, Tadawul. This new capability enables the Firm and its clients to trade cash equities and delivers the Firm's global market expertise to Saudi as well as GCC investors. The launch also enables MSSA to service international clients via swap contracts.

The new equity trading capability follows on the Firm's recent initiation of economic and equity strategy research coverage for Saudi Arabia.    » read more »

The State Of Qatar Launches “Qatar Exchange” As It Signs Today Formal Terms Of Strategic Partnership With NYSE Euronext

Doha / New York / Paris, 19 June 2009 – Qatar Holding (“QH”), the strategic and direct investment arm of Qatar Investment Authority (“QIA”), and NYSE Euronext (NYX) today announced the signing of binding agreements to form a major strategic partnership which will establish Qatar Exchange (successor to the current Doha Securities Market (“DSM”)) as a world-class international exchange, and provide NYSE Euronext with a valuable presence in the Middle East.

The successful closing of negotiations follows a preliminary announcement on 24 June 2008 that Qatar had selected NYSE Euronext as a partner.    » read more »

Program Trading Averaged 30.7 Percent of NYSE Volume during June 8-12

NEW YORK, June 18, 2009 -- The New York Stock Exchange, a subsidiary of NYSE Euronext (NYX), today released its weekly program-trading data submitted by its member firms. The report includes trading in all markets as reported to the NYSE for June 8-12.

The data indicated that during June 8-12, program trading amounted to 30.7 percent of NYSE average daily volume of 2,233.0 million shares1, or 686.0 million program shares traded per day.

Program trading encompasses a wide range of portfolio-trading strategies involving the purchase or sale of a basket of at least 15 stocks.    » read more »

CHARLOTTE, N.C., June 19 -- Bank of America Corporation today announced the Board of Directors authorized a regular quarterly dividend of $18.1250 per share on the 7.25 percent Non-Cumulative Perpetual Convertible Preferred Stock, Series L.

The dividend is payable on July 30, 2009 to shareholders of record as of July 1, 2009.

Source: Bank of America

Will unite margining of cash positions with natural hedges for the first time

NEW YORK, NY – June 18, 2009 – NYSE Euronext (NYSE: NYX) and The Depository Trust & Clearing Corporation (DTCC) today agreed to create a joint venture for clearing U.S. fixed income derivatives.

The new clearing house, New York Portfolio Clearing , “NYPC”, will combine the industry-leading capabilities of NYSE Euronext’s U.S. futures exchange (NYSE Liffe U.S.) and DTCC’s Fixed Income Clearing Corporation (FICC) to offer innovative risk management, clearing and settlement efficiencies for U.S. fixed income securities and derivatives.    » read more »

Duncan Niederauer Statement on Obama Administration's Proposal to Overhaul the U.S. Financial Regulatory Structure

NEW YORK, 17 June 2009 -- "We applaud the Obama Administration's proposal to overhaul the financial regulatory structure as a critical step toward restoring trust in capital markets.

"Regulatory reform must protect investors, close regulatory gaps and enhance market transparency, while at the same time continuing to encourage the spirit of innovation that has fueled decades of economic growth, produced new products and services and created jobs.

"Our regulatory system is vastly outdated, and we are encouraged by the Administration's enthusiasm for reform and welcome the opportunity to contribute to this truly important initiative."    » read more »

June 16 2009 -- New York -- Morgan Stanley (NYSE: MS) today declared a regular quarterly dividend on the outstanding shares of each of the following preferred stock issues:

* Floating Rate Non-Cumulative Preferred Stock, Series A - $252.78 per share (equivalent to $0.25278 per Depositary Share)
* 10 percent Non-Cumulative Non-Voting Perpetual Convertible Preferred Stock, Series B - $25.00 per share
* 10 percent Non-Cumulative Non-Voting Perpetual Preferred Stock, Series C - $25.00 per share

The dividends for the Preferred Stock Series A, B and C are payable on July 15, 2009 to stockholders of record at the close of business on June 30, 2009.

Source: Morgan Stanley (NYSE: MS)

New York, June 16, 2009 - The Board of Directors of JPMorgan Chase & Co. (NYSE:JPM) declared a quarterly dividend on the outstanding shares of each of the following preferred stock issues:

* 6.15% Cumulative Preferred Stock, Series E - $3.075 per share (equivalent to $0.76875 per Depositary Share)
* 5.72% Cumulative Preferred Stock, Series F - $2.86 per share (equivalent to $0.715 per Depositary Share)
* 5.49% Cumulative Preferred Stock, Series G - $2.745 per share (equivalent to $0.68625 per Depositary Share)

The dividends for the Preferred Stock Series E, F and G are payable on July 15, 2009, to stockholders of record at the close of business on June 30, 2009.

Source: JPMorgan Chase & Co. (NYSE: JPM)

NEW YORK -- Jun. 10, 2009 -- American International Group, Inc. (AIG) announced today that it has closed the previously announced public offering of 29.9 million shares of Transatlantic Holdings, Inc. (NYSE: TRH) common stock owned by AIG and its indirect subsidiary, American Home Assurance Company (AHAC) for aggregate gross proceeds of $1.136 billion. TRH will not receive any of the proceeds from the secondary offering.

This transaction enabled AHAC, a subsidiary of AIU Holdings, Inc. (together with AIU Holdings LLC, “AIU Holdings”), to monetize part of its investment in TRH to improve the quality of its capital and help position AIU Holdings for continued success.    » read more »

GM Statement re: recent changes in GM stock price and volume

009-06-10 -- GM management has noticed a recent elevation in the volume and price of its common stock.

While GM does not control the market or its stock price, GM management strongly believes that any recovery for the common stockholders in the chapter 11 bankruptcy process is highly unlikely, even under the most optimistic of scenarios.

Stockholders of a company in chapter 11 generally receive value only if all claims of the secured and unsecured creditors are fully satisfied.

Source: GM