WASHINGTON, Nov 1- A U.S. trade panel on Friday cleared the way for the Commerce Department to continue an investigation that could lead to duties on steel rebar imports from Mexico and Turkey. The ITC and the Commerce Department launched investigations after a petition was filed last month by Nucor Corp, Commercial Metals Co and other manufacturers.
JPMorgan shareholders should vote against the re-election of three board members, an influential proxy advisory firm said.
U.S. mortgage finance company Freddie Mac is suing more than a dozen banks for losses from the alleged manipulation of the benchmark interest rate known as Libor.
Payment processor Total System Services said it will buy prepaid debit card provider NetSpend Holdings for about $1.4 billion in cash.
U.S. stock index futures pointed to a lower open Monday, after the S&P 500 finished at a five-year high in the previous session.
Stocks kicked off the new year with a bang! But the party may be over once earnings season kicks into full gear.
Some of the names on the move ahead of the open.
President Obama on Friday signed a bill that brings U.S. trade relations with Russia into the 21st century but also ushers in a testy era in which the United States could publicly "name and shame" Russian human rights violators.
IRVING, Texas-- Commercial Metals returned to a profit in its fiscal fourth quarter, helped by lower costs. Revenue fell 16 percent to $1.88 billion from $2.24 billion, which missed Wall Street's estimate of $2.02 billion. For the full year, Commercial Metals Co. earned $207.5 million, or $1.78 per share.
Oct 12- JP Morgan Chase. reported record net income of $5.7 billion on the back of strong business performance across the company's major business lines. Adjusting for these items, Fitch Ratings estimates JPM had pretax income of $7.7 billion vs. reported pretax income of $7.9 billion.
Oct 12- Standard& Poor's Ratings Services today said that its ratings on JPMorgan Chase& Co. are not affected by the company's third-quarter results, which were above our expectations, given current operating conditions. Standard& Poor's adjusted pretax earnings were roughly $7.3 billion, up from roughly $3.9 billion in the prior-year period.
*Pay falls at JPMorgan's investment bank in 3rd qtr. Oct 12- JPMorgan Chase& Co's investment bank set aside less revenue to pay employees last quarter, another sign that Wall Street bonuses are on the decline this year.
By Rick Rothacker and Jed Horowitz. Oct 12- Wells Fargo& Co's. The No. 4 U.S. bank by assets has expanded in mortgage lending while others such as Bank of America Corp.
*Wells Fargo weighs on financials. The Thomson Reuters/ University of Michigan's preliminary October reading on consumer sentiment rose to 83.1, well above the 78 forecast for the index as optimism about the economy improved. Wells Fargo, the biggest U.S. home lender, dropped 2.5 percent to $34.40.
Oct 12- Wells Fargo& Co reported record quarterly profit on Friday on a surge in mortgage lending, but revenue and a key banking measure fell short of analysts' estimates, sending shares down 3.3 percent. Wells Fargo posted third-quarter earnings of 88 cents per share, topping the analysts' consensus estimate of 87 cents, according to Thomson Reuters I/B/E/S.
Oct 12- JPMorgan Chase& Co:. *JPMorgan executives speaking on analyst conference call. *JPMorgan CEO Jamie Dimon: will not price loans' a lot lower' to create demand.
Shares of JPMorgan Chase and Wells Fargo& Co. both fell after their results, even though JPMorgan posted record profits. Wells Fargo dropped 4 percent to $33.77 while JPMorgan was off 1.8 percent at $41.33.
NEW YORK, Oct 12- U.S. stocks were poised for modest gains at the open on Friday, in the wake of sterling results from JP Morgan and data showing inflation pressure remained in check. Investors remained concerned over the prospects for corporate profit growth, in light of the tepid economies in the U.S. and Europe.
Oct 12- Wells Fargo& Co reported a 22 percent increase in its third-quarter profit on Friday on a surge in mortgage lending, but fell short of analysts' revenue estimates. Wells Fargo posted earnings per share of 88 cents, topping the analysts' consensus estimate of 87 cents, according to Thomson Reuters I/B/E/S.
NEW YORK, Oct 12- JPMorgan Chase& Co:.