Market Minute: Scrutiny Awaits Heads of JPMorgan, Apple

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The heads of both JPMorgan and Apple are in line to get grilled today.

The Dow industrials (^DJI) fell 19 points yesterday, the S&P 500 (^GSPC) edged one point lower, and the Nasdaq (^IXIC) lost 2.

Apple (AAPL) chief Tim Cook testifies on Capitol Hill today about the huge cash horde it has sitting overseas because of the high taxes it would have to pay to repatriate the funds. He wants to overhaul the tax code, but a Senate panel charges that Apple and other companies use "gimmicks" to avoid paying taxes.

Tim Cook and Jamie Dimon
Getty Images
The day of reckoning has arrived for JPMorgan's (JPM) Jamie Dimon. Shareholders meet today to grill him and to conclude a vote on whether to split the chairman and CEO positions. The vote is expected to be close, but early indications are that he will hold on to both jobs.

A new drug from Merck (MRK) to treat insomnia is effective, but the staff of the Food and Drug Administration has raised questions about its safety when given in high doses. There's concern about patients' ability to operate a car the day after taking the medication, and to suffer severe bouts of daytime sleepiness. The FDA will review the findings tomorrow.

Microsoft (MSFT) today unveils its new Xbox console, its first major overhaul in eight years. But console-based videogames aren't nearly as popular now as they were back then.

Home Depot (HD) is benefitting the recovery in the housing market. Its quarterly net rose 18 percent, topping expectations. The retailer also raised its outlook for the full year.

Shares of Urban Outfitters (URBN) have soared more than 70 percent over the past year, but they could come under pressure today. The retailer posted solid earnings, but sales fell short of expectations.

And the cruise ship company Carnival (CCL) is feeling the effects of a string of accidents and bad publicity. The company says earnings for the full year will be sharply below expectations, as cancellations start to pile up.

-Produced by Drew Trachtenberg


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16 Comments

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setanta54s_back

LIBS LOVE DIVERSION
as one drone accused me of....
and IF THIS BS ain't a DIVERSION
from the white house shenanigans,
post what IS.


what's THEIR PROBLEM ?
they have free run on ariannuH's huffing_ho post BUT must come here.

then they CAN'T take the FACTS as replies.

May 21 2013 at 2:49 PM Report abuse -3 rate up rate down Reply
BarnettUSA

grilled for following their rules ?

May 21 2013 at 11:11 AM Report abuse +1 rate up rate down Reply
rlaitres

It is fascinating to analyze some of these posts, and the many who immediately rush to the defense of large corporations, even when the only thing involved is an investigation, something which is meant or intended to ascertain facts. Is it any wonder that we are quickly becoming an economic polity, one with plutocrats in contol? It shouldn't be, and isn't for those who have seen it previously. In fact it was the "primary" cause of the American revolution, was it not? Yet, "There they go again", with the very same thing happening, and within our own country.

May 21 2013 at 10:57 AM Report abuse +1 rate up rate down Reply
1 reply to rlaitres's comment
setanta54s_back

WHAT DOES IT MATTER !!!!!!!!!!!!!!!!!!!!!!~~~~~~~~~~~~~~~~~~~~

scrUtinize THIS and get a MOVE ON !!!!!!!!!!!!!!!!!!!!!!!!!!

we have benghazi==white hut's coverup
.......the IRS===again who knew and WHEN ?
and
the esteemed JUSTICE DEPT spying on the press
FOR A START.

stop wasting time on this shinOOlaaa.

get on the phone to your elected reps and let THEM KNOW that YOU KNOW all the details that the ONE STREAM MEDIYUUH REFUSED TO COVER
and demand SOMETHING DONE

and we're ADDRESSING madam former co-pres and brain damaged former sec of state and obummer DIRECTLY ON BENGHAZI.
this irs bs and WHEN did THEY know ????little hint--THEY KNEW BACK WHEN

and this garbage can of a justice dept ?
DEMAND ANSWERS from the voter intimidation case in phillie,to their gun running to the drug cartels and gangs,
to THEM SPYING ON THE PRESS.

no more get outta jail free cards for THEM.

WAKE UP.

May 21 2013 at 12:23 PM Report abuse -2 rate up rate down Reply
n6fb

Don't grill Cook. Grill congress for allowing the tax code to become so complicated,with so many built-in breaks for favored constituencies that it now incomprehensible. The idiots in the House and Senate just like to get face time on CSPAN

May 21 2013 at 10:52 AM Report abuse +1 rate up rate down Reply
setanta54s_back

SCRU_tinize this entire ADMINISTRATION.
how many in the muslim brotherhood INSIDE with ob ummer ? search it.
whazzup with shrillary ?


yeah
WHAT DOES IT MATTER !!!!!!!!!!
shrillary concussion klintun

how MUCH obomBanations TODAY ?
have to search it out and find a website WITH THE COUNT like the clinton criminal pages.
think there's something like the obama truth files out here.

anyway
search obama missiles to al qaeda

this bunch has to go.

hope IT'S change.

and definitely work at YOUR OWN LOCAL LEVEL educating all you come in contact with
that this entire CREW HAS TO GET VOTED OUT

EDUCATE THEM ALL as to exactly WHAT CONGRESS DOES
HOW IT WORKS
what YOUR OWN local government does

LOCAL ELECTIONS MATTER..

and yes,even though we don't vote in cali etc THEIR VOTES AFFLICT US !!!!!!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

hey hey ! ho ho
diMs and all have got to GO !
hey hey ho ho....

May 21 2013 at 10:07 AM Report abuse rate up rate down Reply
2 replies to setanta54s_back's comment
n6fb

What on earth are you trying to express??? Is English your native language, or are you off your meds again? And why does the site allow deranged gobledegook appear--thought they had an editing policy.

May 21 2013 at 10:50 AM Report abuse +2 rate up rate down Reply
1 reply to n6fb's comment
setanta54s_back

i'd really love to TELL YOU exactly what YOU CAN DO and MOST LIKELY FOR YERSELF
but
that would result in the bedwetters getting ME banned~~~~~~~~~~~~~~~~~
and do YOU TRULY THINK.......as we ALL KNOW diMs are soooooooooo aptly named diMs and represented as jackasses-
do YOU THINK THIS IS POSTED FOR YOU ?
stay over on huffpooP as you can't even "run" with the klowns on KOS==
you're not even on THEIR LEVEL.

May 21 2013 at 2:37 PM Report abuse -3 rate up rate down
rlaitres

Attempting to change the subject are we, or are you merely attempt to divert our attention from the subject at hand. May I suggest that if you want to try that, and be succesful at it, that you be much more subtle and circumspect about it. However, from the contents of your post, one can readily conclude that such is beyond your capabilities,which explains why you are so sophomoric in your attempt.

May 21 2013 at 11:01 AM Report abuse +2 rate up rate down Reply
1 reply to rlaitres's comment
setanta54s_back

stick IT to huffing_ho as this TOPIC definitely exists there
and
we ALL
know how tolerant huffie remains inre to FACTUAL INFO GETTING OUT
on a RELEVANT THREAD.
YOUR MODS refuse to POST IT.

so once AGAIN little dweebs,these dAIly finance threads REMAIN OPEN
for ALL BANNED BY HUFFINGHO.

P.S and the usual libtard bs--challenging one's level of EDUCASHUN
which OF COURSE to libtardia is THE equivalent if being knowledgeable.
TS.

May 21 2013 at 2:41 PM Report abuse -4 rate up rate down
lacabrera

why grilled this guy from apple ,he just took over the job few months ago why not go after Steve Jobs ?? WE NEED TAX REFORM .

May 21 2013 at 9:59 AM Report abuse +2 rate up rate down Reply
Jenny

what a joke--congress to investigate--have you ever seen anything get done after these so called investigations? They do this so they make people think they are actually working--

May 21 2013 at 9:36 AM Report abuse +1 rate up rate down Reply
nnojr

You live in this country, you're Headquartered in this country, YOU PAY TAXES in this country or get out!!!!

May 21 2013 at 9:19 AM Report abuse +2 rate up rate down Reply
1 reply to nnojr's comment
franco.anastasia

Why is it liberals have no problem spending other people's money??? Where is your outrage at the money the government pisses away daily...Do you know how many millions of dollars it costs the tax payers every time obama decides to take yet another day off to golf?

May 21 2013 at 9:44 AM Report abuse -1 rate up rate down Reply
2 replies to franco.anastasia's comment
nbk4real

I wonder if you were whining about deficits when you were cheering for wars? tax cuts for millionaires and billionaires? not to mention, bush took more vacation days than any president, were you whining then? I think not. Just more false outrage out of a "faker" someone who knows they have no clue what their talking about.

May 21 2013 at 9:59 AM Report abuse +1 rate up rate down
setanta54s_back

cheering for war ?
who fights these wars ?
and where are code pinkO,sin_dee sheeethead etc ?
why are THEY silent ?
obummer's WASTING our PRECIOUS AMERICAN LIVES all while cozying it up with the ENEMY as in al qaeda and the MUSLIM BROTHERHOOD.

as for dabuush and HIS ALLEGED vacation daze ?
where was he ? overseas ? skiing ? caribbean ?
hosting celebutards at the white house with ELABORATE soirees ???


and obummer's at WHAT LEVEL of DEFICIT SPENDING ???
tripled the debt in under 2 years of office---first run and the morons vote him again >
and FOR WHAT ?
oooh yeah,a phone.
obamas gonna pay mah mortgage
put gas in mah car
etc

get ANOTHER SCRIPT for your bs talking points
or stay over on huffing_ho and engage in the usual SELF STIMULATION circle wank of super users and networks.

May 21 2013 at 10:31 AM Report abuse -3 rate up rate down