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U.S. Morning Call: JC Penney board blasts Ackman

Monday, August 12, 2013 - 03:35

Aug 12 - JC Penney board members weighing taking action against director Bill Ackman for publicly disclosing private boardroom deliberations.

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Know you've crossed the line as the company's board director clues in your Monday morning call. The public letter calling on the board to replace the company CEO. Now. The board at JC Penney not happy with bill Blackman after that move with one board -- calling it quote broke director. Now looking at ways to print it according to the Wall Street her. -- it's impossible for boards to remove a director. Even that serious disagreement or outright hostility. Because it's hard to legally -- act and violated anything when he publicly voiced displeasure with Mike and poor performance. A look at the board to. Not much for that act and striking back and suing. After all things just doing its jobs and drastic action was needed. Either way investors are not too happy shares of JC Penney slightly lower in the premarket after falling 10% last week. Some stocks to watch this morning including apple it's finally coming all the fan boys and girls aren't waiting for a new iPhone. Tech blog all things dean saying apple on ballots next Smart and especially on September. Just in time for the crucial holiday season. Have a bigger screen or less expensive. As investors it shares of apple jogging in the premarket. Some not so good news for Dell data from IDC along with resellers noticing a backlash from all the fighting overtaking outcry it. Company to -- folks IDC estimates that Dell Dell's PC shipments. It four point 2% in the second quarter. Shares slipping in the premarket. Exclusive report that the US commodities markets regulator subpoenaed a metal warehouse company. In an ongoing probe of price gouging. A source would not name the firm but it was to provide documents emails letters and voice messages to the Commodity Futures Trading Commission. It's investigating warehouse and firms have made it more expensive for companies like Coca-Cola. To buy -- by restricting the flow of metal out of warehouses. This is business had shifted away from traditional warehouse companies and is now dominated by banks such as Goldman Sachs and JPMorgan. The DOJ started a separate preliminary probe into metals warehouse industry last month. Dow S&P and NASDAQ futures all pointing to a lower open today. And don't think your financial stocks are closed. To re claiming the top spot as the S&P 500 biggest sector. Just one percentage point less than the technology sector. Financials have added nearly 25%. This year lagging only health care and consumer discretionary shares. The yield on the ten year note inching closer to two point 6% since last week. Bill Gross is Pimco total return fund increase its exposure to US government debt in July by percent to 39%. The fund also decrease its mortgage holdings to 35%. From 36. That's your Monday morning call remembered Wallace on Twitter at Reuters Insider and get Margaret Atwood dot com slash TD. And the super hard it is.

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U.S. Morning Call: JC Penney board blasts Ackman

Monday, August 12, 2013 - 03:35