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Fed approves bank share buybacks; big payments merger falls apart americanbanker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanbanker.com Daily Mail and Mail on Sunday newspapers.
Nike (NKE) – Nike reported quarterly profit of 78 cents per share, 16 cents a share above estimates. Revenue beat estimates as well. The athletic apparel and footwear maker also raised its full-year sales forecast, as the pandemic continues to drive demand for outdoor sportswear. The shares added 5% in premarket trading as of 7:45 a.m. ET. JPMorgan Chase (JPM) – JPMorgan announced a $30 billion stock buyback, shortly after the Federal Reserve said it would allow banks to restart buybacks during the first quarter of 2021. The shares gained 4% in premarket trading as of 7:45 a.m. ET. Walmart (WMT) – The retailer was upgraded to outperform from sector perform at RBC Capital Markets, which feels Walmart is well-positioned to handle a range of different economic scenarios in 2021. ....
IN THE NEWS TODAY As the U.K. government holds a crisis meeting Monday to talk about the fallout from international travel bans, experts said it appears the existing vaccines will be effective in fighting off infection from new strains of the coronavirus. Dr. Vivek Murthy, selected by President-elect Joe Biden to be surgeon general, made similar comments Sunday on NBC s Meet the Press. Lawmakers plan to vote Monday on a combined $900 billion compromise Covid-19 relief package and a $1.4 trillion plan to fund the government through September. The coronavirus aid deal, which saw fits and starts for months in Washington, includes a $300 per week federal boost to state unemployment benefits and, a $600 direct payment to most Americans. (AP) ....