Stocks to Watch: Best Buy, Apple, Lockheed

NEW YORK -- Best Buy (BBY) will hire Sharon McCollam, the former Williams-Sonoma (WSM) chief financial officer, as its next finance chief.

McCollam plans to join Best Buy, the electronics retailer that is undergoing a broad restructuring, at the end of the year, according to The Wall Street Journal, which cited an anonymous source close to the company.

McCollam will step out of a retirement that began in March, the report said.

Last month, Best Buy said CFO Jim Muehlbauer would leave at the end of the fiscal year.

Best Buy to Hire Sharon McCollam as CFO: Report

Apple (AAPL) and Taiwanese gadget manufacturer HTC have settled their patent dispute.

The global settlement, terms of which are confidential, dismisses all existing lawsuits and includes a 10-year license agreement.

The license agreement applies to current and future patents held by Apple and HTC, which makes smartphones and tablet computers that use the Google (GOOG) Android and Microsoft (MSFT) Windows Phone operating systems.

Apple, HTC Settle Patent Dispute

Lockheed Martin (LMT) has ousted its president and chief operating officer, Christopher Kubasik, after an investigation found he had a relationship with a subordinate.

Kubasik was scheduled to become CEO of the defense company in January.

The company named Marillyn Hewson to assume the CEO role, effective Jan. 31. Hewson, most recently executive vice president of Electronic Systems at the company, took on the president and operating chief positions immediately as well.

Lockheed Martin, Myrexis: After-Hours Trading

The Securities and Exchange Commission won't charge any individuals in its planned enforcement action against JPMorgan Chase (JPM) for the allegedly fraudulent sale of mortgage bonds, the Journal reported, citing people close to the investigation.

The bank will pay a significant financial penalty under the proposed deal, people close to the probe told the newspaper.