The major market averages trade on session lows as the Nasdaq paces the decline with a loss of 1.2%. The S&P 500 and Dow are seeing relative outperformance, but trade down 0.9% and 0.7% respectively.
Investment banking giant JP Morgan Chase (JPM 44.00, -0.84) is trading down 1.9% despite posted better than expected first quarter results. The company topped analyst expectations by $0.16 after announcing earnings per share of $1.31. Revenues were also better than expected, rising 5.9% year over year to $24.60 bln. Net income was $5.4 billion, down by $172 million, or 3%, from the prior year. The decrease in earnings was driven by higher noninterest expense, largely offset by higher net revenue. Noninterest revenue was $15.6 bln, up by $1.8 bln, or 13%, from the prior year.
CAGR - Trade Alert
Up 133.33% in morning trading to $.0021 with 45M shares traded
California Grapes International, Inc. (PINK: CAGR) a leading provider of full service export, marketing, promotions, distribution and sales for the CA Wine Industry internationally, confirms it has now received a $10,000,000 in Financing from AGS Capital Group, LLC a US based specialist investor group to fund operational expansion in China.
To Read Full Story go to: http://www.pennytrader.com/
RFMI – News Alert
Up 76.65% in morning trading to $1.74 with 850K shares traded
RF Monolithics, Inc., headquartered in Dallas, Texas, is a provider of solutions-driven, technology-enabled wireless connectivity for a broad range of wireless applications—from individual standard and custom components to modules for comprehensive industrial wireless sensor networks and machine-to-machine (M2M) technology. RF Monolithics, Inc. (NASDAQ: RFMI) announced that it has entered into a definitive agreement to be acquired by Murata Electronics North America, Inc. for $1.78 per share to holders of RFM common shares, representing an 80% premium over the Nasdaq closing price as of April 12, 2012.
To Read Full Story go to: http://finance.yahoo.com/q?s=rfmi&ql=1
PRMW – News Alert
Up 18.76% in morning trading to $1.90 with 3M shares traded
Primo Water Corporation is a leading provider of water dispensers, environmentally responsible bulk bottled water and premier sparkling beverage appliances sold through major retailers throughout the United States and Canada. Primo Water Corporation (Nasdaq:PRMW – News) today announced it has received a commitment from a senior lender to enter into a new long-term $20 million senior revolving credit facility. Also, the Company expects to close a term loan for up to an additional $15 million with a separate lender, secured by certain fixed assets of the Company.
To Read Full Story go to: http://finance.yahoo.com/q?s=prmw&ql=1
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