Retailers are moving ahead with a proposed $7.2 billion settlement with Visa
JPMorgan is picking up the tab for $1.2 billion of the card settlement, with Bank of America and Citigroup picking up smaller amounts (we're talking only hundreds of millions.) The bank is facing other legal problems as well; it's been hit with a zillion subpoenas over the LIBOR interest rate rigging scandal, 11 agencies are investigating its "London Whale" derivatives trade that torched $6 billion, which caused the bank to formally restate its first-quarter earnings today.
Disney's stock took a breather after jumping on yesterday's good earnings announcement due to The Avengers and ESPN. My colleague Tim Beyers, an expert on Disney's Marvel Studios, explains why he thinks Disney just became a screaming buy.
American Express, Disney, and JPMorgan all lost to the market today, but as investors, it's important for us to remember to keep our eyes on long-term performance. If you're looking for some ideas, the Motley Fool recently highlighted "The 3 Dow Stocks Dividend Investors Need." You can get the full scoop on these three promising Dow dividend dynamos by clicking here.
Ilan Moscovitz owns shares of Disney. The Motley Fool owns shares of Walt Disney, Bank of America, Mastercard, Citigroup, and JPMorgan Chase. The Fool has created a bear call spread position in American Express. Motley Fool newsletter services have recommended buying shares of Walt Disney and Visa. Motley Fool newsletter services have recommended creating a write covered strangle position in American Express. Motley Fool newsletter services formerly recommended JPMorgan Chase. The Motley Fool has a disclosure policy.