J. P. Morgan

JPMorganChase Declares Preferred Stock Dividends

Retrieved on: 
Friday, September 13, 2024
Banking, Professional Services, Finance, JPMorgan Chase, J. P. Morgan, Chase, JPM, Government

JPMorgan Chase & Co. (NYSE: JPM) (“JPMorganChase” or the “Firm”) has declared dividends on the outstanding shares of the Firm’s Series CC preferred stock.

Key Points: 
  • JPMorgan Chase & Co. (NYSE: JPM) (“JPMorganChase” or the “Firm”) has declared dividends on the outstanding shares of the Firm’s Series CC preferred stock.
  • Information can be found on the Firm’s Investor Relations website at https://www.jpmorganchase.com/ir/news .
  • JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide.
  • JPMorganChase had $4.1 trillion in assets and $341 billion in stockholders’ equity as of June 30, 2024.

BGC Group's FMX Futures Exchange to launch on September 23, 2024

Retrieved on: 
Friday, September 13, 2024
Citadel, Foreign exchange market, Morgan Stanley, LCH, Wells Fargo, BGC, Bank of America, Citigroup, FMX, J. P. Morgan, Partnership, Goldman Sachs, Bank, Citadel Securities, Barclays, Security (finance)

NEW YORK, Sept. 13, 2024 /PRNewswire/ -- BGC Group, Inc. (Nasdaq: BGC) and 10 of the world's leading investment banks and market-making firms today announced they will launch the highly anticipated FMX Futures Exchange ("FMX"), an exchange for U.S. interest rate futures, the most widely traded futures contracts in the world, on Monday, September 23, 2024 at 9:00 p.m.

Key Points: 
  • NEW YORK, Sept. 13, 2024 /PRNewswire/ -- BGC Group, Inc. (Nasdaq: BGC) and 10 of the world's leading investment banks and market-making firms today announced they will launch the highly anticipated FMX Futures Exchange ("FMX"), an exchange for U.S. interest rate futures, the most widely traded futures contracts in the world, on Monday, September 23, 2024 at 9:00 p.m.
  • ET., which represents the beginning of the trade date Tuesday, September 24, 2024.
  • FMX will initially launch with SOFR futures and will add U.S. treasury futures in the first quarter of 2025.
  • LCH has $225 billion of interest rate swap collateral securing its interest rate swaps, against which LCH members expect to cross margin eligible U.S. interest rate futures traded on FMX Futures Exchange.1
    FMX Futures Exchange is a part of FMX Holdings LLC, which includes the world's fastest growing cash U.S. Treasuries marketplace and rapidly growing spot Foreign Exchange platform.

Cleveland-Cliffs Successfully Amends Asset-Based Lending Facility

Retrieved on: 
Friday, September 13, 2024
Machine Tools, Metalworking & Metallurgy, Mining, Minerals, Automotive Manufacturing, Manufacturing, Natural Resources, Steel, Wells Fargo, Capital One, BMO, ING, Growth, Fifth Third Bank, Acquisition, Bank of America, Region, J. P. Morgan, ABL, Bank, PNC, RBC, MUFG, Stelco, UBS, Barclays

Cleveland-Cliffs Inc. (NYSE: CLF) (“Cliffs”) today announced that it successfully amended its $4.75 billion Asset-Based Lending (ABL) facility as part of the financing for the pending acquisition of Stelco Holdings Inc. (“Stelco”).

Key Points: 
  • Cleveland-Cliffs Inc. (NYSE: CLF) (“Cliffs”) today announced that it successfully amended its $4.75 billion Asset-Based Lending (ABL) facility as part of the financing for the pending acquisition of Stelco Holdings Inc. (“Stelco”).
  • Cliffs has completely replaced Goldman Sachs’ participation with increased commitments from Bank of America, Wells Fargo, J.P. Morgan, Fifth Third, Truist, Capital One, BMO, Huntington, and U.S. Bank.
  • Additionally, PNC, Flagstar, UBS, MUFG, Regions, Barclays, ING, RBC, and First Citizens have also maintained their existing commitments to the ABL.
  • We thank our entire bank group for their participation as we focus on partners who share our strategic priorities.

DexCom (DXCM) Sales Force Changes Drove Poor Execution, Disappointing Outlook, & 40% Stock Drop, Class Action Pending - Hagens Berman

Retrieved on: 
Thursday, September 12, 2024
Knowledge, DXCM, J. P. Morgan, Overweight, SAN, Patient, Person, Dexcom, Hagens Berman, Life insurance

The firm also encourages persons with knowledge who may be able to assist in the investigation to contact its attorneys.

Key Points: 
  • The firm also encourages persons with knowledge who may be able to assist in the investigation to contact its attorneys.
  • DexCom, a prominent provider of continuous glucose monitoring systems, is under intense scrutiny from investors and analysts following a dismal earnings report.
  • DexCom’s management attributed these challenges to a disruptive sales force expansion, raising questions about the company’s transparency regarding its strategic challenges.
  • Prominent shareholder rights firm Hagens Berman has initiated an investigation into potential violations of U.S. securities laws by DexCom.

eClinical Solutions Announces Growth Investment by GI Partners to Further Its Mission of Helping Bring Treatments to Patients Faster

Retrieved on: 
Thursday, September 12, 2024
Technology, Clinical Trials, Professional Services, Software, Biometrics, Biotechnology, Data Analytics, Pharmaceutical, Health, Artificial Intelligence, Guggenheim Partners, Research, Patient, GI Partners, Growth, Summit Partners, Organization, J. P. Morgan, Ropes & Gray, GI, SVB Securities, Software as a service

eClinical Solutions LLC , a global provider of digital clinical software and services, today announced that GI Partners, a private investment firm, has made a majority investment in the company.

Key Points: 
  • eClinical Solutions LLC , a global provider of digital clinical software and services, today announced that GI Partners, a private investment firm, has made a majority investment in the company.
  • Additionally, GI Partners’ investment in eClinical reflects its longstanding commitment to backing industry leaders providing critical services to growing sectors.
  • Summit Partners, an investor in eClinical since 2020, will continue to hold a minority position in the company.
  • Leerink Partners and J.P. Morgan served as financial advisors and Ropes & Gray LLP served as legal advisors to GI Partners.

J.P. Morgan Asset Management Launches Groundbreaking Guide to ETFs

Retrieved on: 
Thursday, September 12, 2024
ETF, Education, COVID-19, Retirement, J. P. Morgan, Guide, JPMorgan Chase, Shock, Ecosystem, Financial adviser

NEW YORK, Sept. 12, 2024 /PRNewswire/ -- J.P. Morgan Asset Management has launched the inaugural edition of its quarterly "Guide to ETFs," a new resource designed to provide clarity and insight into the fast-moving ETF landscape. The Guide to ETFs is the cornerstone of the firm's broader ETF Insights program, a new global initiative providing actionable thought leadership and resources to financial professionals and investors.

Key Points: 
  • NEW YORK, Sept. 12, 2024 /PRNewswire/ -- J.P. Morgan Asset Management has launched the inaugural edition of its quarterly "Guide to ETFs," a new resource designed to provide clarity and insight into the fast-moving ETF landscape.
  • Led by Chief ETF Strategist Jon Maier and his team, the Guide will help educate advisers and their clients on opportunities in the sector.
  • "ETFs have become an indispensable investment structure for both individual investors and financial professionals, and the Guide to ETFs underscores our unwavering commitment to leading the conversation and driving innovation in the ETF industry," said Jed Laskowitz, Chief Investment Officer and Global Head of Asset Management Solutions at J.P. Morgan Asset Management.
  • As a leader in the active ETF industry, J.P. Morgan's Guide to ETFs explores dynamic trends that are shaping the space.

Switch Secures $5 Billion in New Debt Financing

Retrieved on: 
Thursday, September 12, 2024
DigitalBridge, TD Securities, Growth, AI, History, RCF, Acquisition, ABS, J. P. Morgan, Line of credit, BBF, LAS, Bank

LAS VEGAS, Sept. 12, 2024 /PRNewswire/ -- Switch, a premier provider of AI, cloud and enterprise data centers, today announced that it has closed on its $4.25 billion sustainability-linked Borrowing Base Facility (the "BBF") and upsized its Revolving Credit Facility (the "RCF") to $770 million.

Key Points: 
  • The recently completed transactions will support Switch's bookings momentum across its base of leading enterprise, hyperscale, and AI customers.
  • Switch has a proven history of responsible growth and has embedded sustainability into its financing strategy by tying financial outcomes to measurable sustainability progress.
  • TD Securities served as Left Lead Arranger on the RCF transaction and is the Administrative Agent for both the BBF and RCF.
  • Milbank was legal advisor to Switch, and Paul Hastings was lenders' counsel on the BBF and RCF transactions.

Viking Announces Pricing of its Secondary Offering

Retrieved on: 
Thursday, September 12, 2024
Vacation, Cruise, Transportation, Destinations, Travel, Rothschild & Co, Morgan Stanley, UBS, Broadridge Financial Solutions, Security (finance), Attention, Prospectus, Wells Fargo, HSBC, BofA Securities, VIK, J. P. Morgan, J.P. Morgan & Co., Sale, Form, Telephone

Viking Holdings Ltd (NYSE: VIK) (“Viking”) today announced the pricing of its secondary public offering of an aggregate of 30,000,000 ordinary shares at a public offering price of $31.00 per share.

Key Points: 
  • Viking Holdings Ltd (NYSE: VIK) (“Viking”) today announced the pricing of its secondary public offering of an aggregate of 30,000,000 ordinary shares at a public offering price of $31.00 per share.
  • The offering is expected to close on September 13, 2024, subject to customary closing conditions.
  • Viking is not offering any ordinary shares and will not receive any proceeds from the offering.
  • BofA Securities and J.P. Morgan (listed in alphabetical order) are acting as lead underwriters and representatives for the proposed offering.

Nth Degree Partners with Shamrock Capital to Position for Next Stage of Growth

Retrieved on: 
Wednesday, September 11, 2024
Sport, Piper, LLP, Shamrock Holdings, Willkie Farr & Gallagher, Alex Brewer, Health, The Nth Degree, J. P. Morgan, Partnership, Marketing, Executive Committee, DLA Piper

ATLANTA, Sept. 11, 2024 /PRNewswire/ -- Nth Degree (the "Company"), a leading event management and experiential marketing company, today announced a strategic investment from Shamrock Capital ("Shamrock"), the Los Angeles-based investment firm specializing in media, entertainment, communications, and related sectors. The partnership, which is expected to strengthen the Company's presence in the rapidly growing live event sector, will seek to establish an unparalleled platform for the development of new business opportunities across the broader industry.

Key Points: 
  • Over its 45-year history, Nth Degree has built a business that today spans labor and project management for trade show exhibits, experiential installations, and retail environments.
  • "We believe Nth Degree's comprehensive suite of solutions position us for substantial growth in the multi-billion dollar market for in-person events," said John Hense, CEO of Nth Degree.
  • Willkie Farr & Gallagher LLP served as legal advisor and Stephens Inc. served as financial advisor to Shamrock Capital on the transaction.
  • DLA Piper served as legal advisor and J.P. Morgan served as exclusive financial advisor to Nth Degree on the transaction.

J.P. Morgan Payments Expands Oracle Partnership to Streamline Payments Across Treasury, Trade and Commerce

Retrieved on: 
Wednesday, September 11, 2024
Professional Services, Payments, Technology, Finance, Asset Management, Fintech, Banking, Cloud, ERP, Investment, POS, Working capital, Supply chain finance, Digital, Food, Oracle Cloud, Avis Budget Group, J. P. Morgan, Treasury, Partnership, Retail, Commerce, Sale, Application, Ecosystem, Cryptocurrency

J.P. Morgan Payments today announced new and enhanced product integrations connecting to the Oracle ecosystem, making it easier for clients to streamline their payments across treasury, trade and commerce.

Key Points: 
  • J.P. Morgan Payments today announced new and enhanced product integrations connecting to the Oracle ecosystem, making it easier for clients to streamline their payments across treasury, trade and commerce.
  • Since 2021, J.P. Morgan Payments and Oracle have been partnering to provide mutual corporate clients enhanced functionality and easier connectivity.
  • Commerce Suite: Streamline in-store merchant payments by connecting J.P. Morgan Payments’ in-store payment application with the Oracle Payment Interface to accept point-of-sale (POS) payments consistently across J.P. Morgan Payments’ terminals.
  • J.P. Morgan Payments is showcasing the new and enhanced product integrations at Oracle CloudWorld 2024 taking place Sept. 9-12 in Las Vegas.