Top Morning News: Resolute Energy Corporation (NYSE:REN), JPMorgan Chase (NYSE:JPM), Johnson & Johnson (NYSE:JNJ), Plum Creek Timber (NYSE:PCL), International Business Machines (NYSE:IBM)


Resolute Energy Corp (NYSE:REN) was downgraded by equities researchers at Wells Fargo & Co. from an “outperform” rating to a “market perform” rating in a research report issued on Thursday. Resolute Energy Corporation (NYSE:REN) in last trading activity advanced 7.38% to close at $1.31. Company weekly performance is 19.09% while its quarterly performance stands at -80.03%. Resolute Energy Corporation (NYSE:REN) is -86.42% away from its 52 week high.

Caesars Entertainment Corp (NASDAQ:CZR) plans to evade an interest payment worth $225 million to the junior creditors of its biggest business unit. The company also continues to focus on wrapping up the debt restructuring talks with senior bondholders. Yesterday, the company was supposed to make interest payments worth $41.3 million to owners of 10% notes due in 2015, and an additional $184 million as interest to a larger chunk of the notes due in 2018. JPMorgan Chase & Co. (NYSE:JPM) reiterated its early prediction in a research note last week that the coupon payments that were due yesterday would not be paid. On last trading day JPMorgan Chase & Co. (NYSE:JPM) advanced 0.73% to close at $61.93. Its volatility for the week is 2.46% while volatility for the month is 1.75%. JPM’s sales growth for past 5 years was -6.20% and its EPS growth for past 5 years was 40.00%. JPMorgan Chase & Co. (NYSE:JPM) monthly performance is 2.19%.

US health care giant Johnson & Johnson’s (NYSE: JNJ) Europe-based subsidiary Janssen has returned the rights to Belgian pharma company Galapagos’ (Euronext: GLPG) GLPG1205. Johnson & Johnson (NYSE:JNJ) in last trading activity decreased -1.18% to close at $105.55. Company weekly performance is 1.07% while its quarterly performance stands at -1.52%. Johnson & Johnson (NYSE:JNJ) is -3.16% away from its 52 week high.

Rick Holley, CEO of Plum Creek Timber Co. Inc. (NYSE:PCL), made headlines this week for revealing in a regulatory filing that he returned 44,445 restricted stock options to the company he runs because he didn’t think he deserved them. Plum Creek Timber Co. Inc. (NYSE:PCL) has 0.10% insider ownership while its institutional ownership stands at 71.60%. In last trading activity company’s stock closed at $42.23.

International Business Machines Corporation (NYSE:IBM) said it is introducing a personal computer based on Intel’s Corp.’s powerful i486 microprocessor. The new machine is called the IBM PS/2 Model 70 486. Its price starts at $12,395. International Business Machines Corporation (NYSE:IBM) in last trading activity increased 0.53% to close at $158.51. Company weekly performance is 2.01% while its quarterly performance stands at -17.36%. International Business Machines Corporation (NYSE:IBM) is -18.94% away from its 52 week high.


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