Gainers:
JPMorgan Chase & Co. (JPM) is up over 2% to $40.57 as it reported that its second quarter net income grew 13% from the previous year. Both earnings per share and net revenue were above estimates. The company said its quarterly results reflected continued improvement in credit trends across our consumer and wholesale portfolios.
ConocoPhillips (COP) is gaining 9% to $81.18 based on the news about its plans for the separation of its Refining & Marketing and Exploration & Production businesses into two stand-alone, publicly traded corporations via a tax-free spin of the refining and marketing business. The separation of the companies is expected to be completed in the first half of 2012.
Frequency Electronics Inc. (FEIM) is up 16% to $11.15 as its net income and revenues for fourth quarter of fiscal 2011 improved sharply from the previous year. The company said it expects strong revenue growth and increasing profitability for fiscal 2012.
Southern Union Co. (SUG) is gaining more than 4% to $43.45 as Williams Companies, Inc. (WMB) submitted an enhanced proposal to acquire the company for $44.00 per share in cash, for a total enterprise value of $9.4 billion. Williams said its enhanced proposal represents a premium of 10% over the nominal purchase price in Southern Union's recently revised agreement with Energy Transfer Equity, L.P. (ETE) announced on July 5, 2011.
Mining equipment maker Joy Global, Inc. (JOYG) is up 1% to $95.95 amid reports that it is close to acquiring Chinese coal-mining equipment maker International Mining Machinery Ltd. (ICMHF.PK).
Rio Tinto plc (RIO) is up 0.24% to $70.88 based on the news that its global iron ore production for the second quarter increased 12% from the prior year, as operations during the period largely recovered from severe weather impacts earlier this year.
Amazon.com Inc. (AMZN) is up 0.16% to $213.84 amid reports that the company plans to release a tablet computer by October, intensifying its rivalry with Apple Inc.' (AAPL) iPad. Apple is up nearly 1% to $361.15.
Randgold Resources Ltd. (GOLD) is gaining 2% to $89.04. Sina Corp. (SINA) is up 1% to $115.90.
Decliners:
News Corp. (NWS) is down 0.67% to $16.25 amid news that the U.K. Commons Culture, Media and Sport Committee has decided to call Rupert Murdoch, James Murdoch, and Chief Executive of News International Rebekah Brooks to give evidence on developments in phone hacking.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.