JD.com – JD.com is launching an extensive revamp of its operations, according to The Wall Street Journal. The paper said the Chinese internet company is planning to split its primary unit – JD Mall — into three business departments, citing an internal document.
JPMorgan Chase – JPMorgan will pay $135 million to settle claims that it improperly handled transactions involving foreign company shares. The alleged mishandling of American Depositary Receipts (ADRs) occurred between 2011 and early 2015, according to the Securities and Exchange Commission.
Apple – Apple supplier Foxconn may start making higher end iPhones in a plant in India in 2019, according to a Reuters report. It would be the first time Foxconn has made iPhones in India.
Visa – The payments network operator will pay $250.6 million to buy British payments firm Earthport, which specializes in international transactions for banks and businesses.
CBS – Loop Capital reiterated a “buy” recommendation on CBS shares, saying the company has the most favorable risk/reward profile of the media companies it covers. Loop said uncertainty regarding a new CEO, the network’s NFL contract, and a potential Viacom merger has driven the stock’s price down to an “extraordinarily attractive level.”
Verizon, Walt Disney – Verizon and Disney are headed toward a contract expiration deadline on December 31 which could result in the disappearance of Disney-owned channels for Verizon FiOS customers.
General Dynamics, Huntington Ingalls, and Oceaneering International – The defense contractors were awarded Navy contracts for submarine modernization and maintenance.
Nvidia – RBC Capital lowered its price target on the graphics chip maker’s stock to $200 per share from $230, noting that average selling prices have coming down in secondary markets. RBC still rates the stock “outperform,” however.
Plantronics – Plantronics will pay $36 million to settle foreign bribery allegations involving its Polycom unit. The alleged violations occurred prior to the acquisition of Polycom by the communications products maker earlier this year, and before a transaction that took Polycom private two years ago.
Boston Scientific – The medical device maker exercised its option to purchase the remaining shares of heart surgery device maker Millipede. It had originally made a $90 million investment in Millipede in January, with an option to buy the remaining shares for $325 million.