J.P. Morgan’s Profit Rises; Results Beat Expectations (WSJ)
The largest U.S. bank by assets reported a profit of $6.29 billion, or $1.54 a share. That compares with a profit of $5.98 billion, or $1.46 a share, in the same period of 2014. Analysts polled by Thomson Reuters had expected earnings of $1.44 a share. Revenue fell 3.2% to $24.53 billion. Analysts had expected $24.49 billion.
Wells Fargo’s Earnings Slip in Second Quarter (Dealbook)
The San Francisco-based bank said its second-quarter profit fell to $5.72 billion from $5.73 billion a year earlier. On an earnings per share basis, the bank’s profits rose to $1.03 up from $1.01 a year ago. That was in line with a consensus of analysts’ estimates of $1.03 a share, according to Thomson Reuters. But Wells’ revenue of $21.3 billion came in 1.8 percent lower than the $21.7 billion that analysts had expected. The middling results from Wells reflect the challenges facing big banks today.
Tsipras Enters Parliament Den to Sell Aid Deal to Greeks (Bloomberg)
With all 18 fellow euro-area governments looking on, Tsipras is set to submit a bill to parliament on Tuesday containing sales-tax increases and pension cuts that go against his own Syriza party’s pledges. The legislation, to be voted on Wednesday, is a precondition for creditors to begin talks on a new loan of as much as 86 billion euros ($94 billion).
Cops: Man Stole Operating Room Surgical Table (TSG)
Investigators allege that Lance Sayre, 52, entered Morton Plant Hospital in Clearwater last Sunday afternoon and went to "the secured area of the Operating Room.” Once inside, Sayre “took custody of a Berchtold Operating Bed valued at $47,945.97” and wheeled it to the hospital’s loading dock, where he loaded the bed into the back of a white van. Cops reported that the defendant was “captured on video.” An arrest affidavit does not indicate whether police recovered the stolen surgical table.
Bond King Gundlach Feuds With Morningstar (WSJ)
Mr. Gundlach, who formed his investing firm DoubleLine Capital LP in 2009 and built it into one of the most successful fixed-income fund companies, is sparring with the research firm over what DoubleLine says have been a series of false and misleading statements about its flagship fund, according to people familiar with the matter.
Twitter confirms purported Bloomberg story is false (Reuters)
A report claiming that Twitter Inc received an offer to be acquired for $31 billion attributed to Bloomberg LP is fake, Twitter and a spokesman for the news and financial data provider said on Tuesday. Twitter shares jumped on the report, which was distributed on the Internet and closely resembled Bloomberg's news website. Its origins could not be immediately established. The report appeared on a site called bloomberg.market, rather than bloomberg.com. Twitter did not immediately offer additional comment.
IAC’s Match Group to Acquire PlentyOfFish for $575 Million (Bloomberg)
IAC/InterActiveCorp subsidiary Match Group, which includes sites like Match, Tinder and OkCupid, agreed to acquire PlentyofFish Media Inc. in a deal valued at $575 million, continuing IAC Chairman Barry Diller’s online-dating expansion.
Sword thief tackled by wench, held by knight (UPI)
A man who allegedly tried to swipe a jouster's sword at the Colorado Renaissance Festival was tackled by two women and held for police by a knight in shining armor. Witnesses said the man jumped into the jousting pen during a demonstration Saturday at the event in Larkspur and ran off with a sword. Steven Chapman, who snapped photos of the incident and posted them to Facebook, said he saw the man being pursued by two women. "A man held a sword and appeared to be playing keep-away with two women. When one of the females shouted for security I realized the moment was serious," Chapman wrote on his blog, TumbleweedTourist.com.