U.S. stocks surged, reversing most of yesterday’s plunge, and Treasuries sank as an unexpected drop in jobless claims and higher-than-estimated earnings tempered concern the economy is slowing as Europe’s debt crisis widens. The Swiss franc slid on plans to temporarily peg it to the euro.
As JPMorgan Chase & Co.’s Jamie Dimon prepares for a vote tomorrow on whether he should keep his chairman and chief executive officer titles, he may take comfort knowing most of his biggest shareholders are led by men with the same dual role.
Dell Inc. investor T. Rowe Price Group Inc. said it won’t support the proposed buyout of the personal-computer maker by founder Michael Dell and Silver Lake Management LLC, reiterating its opposition ahead of this week’s deadline to vote on the deal.
Dell Inc., the computer maker that agreed to a $24.4 billion buyout this month, is coming under increased pressure to make the deal more attractive to shareholders who say the transaction undervalues the company.