TOP 5 STOCKS TO WATCHOUT: –
1. BAYER: – A federal judge on Tuesday questioned a $2 billion proposal by Bayer AG (DE:BAYGN) that would create a framework for resolving future claims that its Roundup weedkiller causes cancer, casting doubt on the plan a day before a key hearing.
Bayer (OTC:BAYRY) and class action attorneys hope U.S. District Judge Vince Chhabria in San Francisco will give preliminary approval on Wednesday to create a class of people exposed to Roundup who could get sick in the future.
The agreement would provide free medical exams and up to $200,000 in compensation if a class member is diagnosed with non-Hodgkin lymphoma, a cancer.
2. JP MORGAN: – JPMorgan Chase & Co told employees on Tuesday that fully vaccinated staff do not have to wear masks at its U.S.-based offices, according to an internal memo seen by Reuters.
Employees are asked to enter their vaccination status into an online database organized by the bank. Employees who have not been vaccinated must continue to wear a face covering in all public and common spaces, private offices and meeting rooms, according to the memo.
The change in policy comes one day after the bank began requiring employees to return to work in offices, and it follows similar moves by Walmart (NYSE:WMT) Inc, Target (NYSE:TGT) and others that lifted mask-wearing mandates in accordance with the U.S. government’s new guidance.
3. Deutsche Bank: – Deutsche Bank (DE:DBKGn) has appointed Joe Salama, its U.S. general counsel, as global head of anti-financial crime (AFC) and group anti money laundering officer, the bank said in a memo to employees on Tuesday.
Germany’s largest lender has been the subject of numerous regulatory and legal investigations over the past decade. Its anti-money laundering and financial crime procedures continue to be the subject of scrutiny from regulators.
Last month, the German financial regulator BaFin ordered Deutsche Bank to enact further safeguards to prevent money laundering, a blow to the bank’s efforts to repair its reputation.
4. WALMART: – Walmart Inc on Tuesday raised its full-year earnings forecast after shoppers armed with government stimulus checks ventured back into stores, driving demand that is expected to continue through the year as Covid-19 restrictions ease.
Shares in the world’s biggest retailer were up about 3% after it reported a strong quarterly sales beat and said it expects fiscal 2022 earnings to increase by high single digits. It had previously forecast a slight decline in profit for the year.
Walmart (NYSE:WMT) has had a bumper year bolstered by a big push into e-commerce and delivery. While this trend towards shopping online is expected to continue, people are also making their way back to brick-and-mortar stores as vaccinations become more widely available.
5. BANK OF AMERICA: – Bank of America plans to raise its minimum wage for U.S. workers to $25 an hour by 2025, the latest among major firms promising to pay employees more after a year of pandemic risks and government subsidies that fueled conversations on whether companies pay their workers enough.
Bank of America (NYSE:BAC)’s announcement on Tuesday went further than other companies with large U.S. workforces in the retail space. The figure was higher than at competitors, and the second-largest U.S. bank is also requiring its vendors to set a minimum wage of $15 an hour.
That could help spread the influence of higher wages to smaller companies that have lucrative contracts to provide services like marketing, technology services and maintenance. Bank of America deals with more than 2,000 U.S. vendors and 43,000 vendor employees.