Stocks to Watch: JPMorgan, Yahoo! (Update 1)
NEW YORK -- Three high-ranking executives are expected to leave JPMorgan Chase(JPM) this week, according to a report.
The expected departures come in the wake of the bank's disclosure last week that it lost $2 billion because of trades that went awry.
The Wall Street Journal reported that Ina Drew, the bank's chief investment officer; Achilles Macris, who headed the London desk that placed the trades; and trader Javier Martin-Artajo, a managing director on that desk, will leave the bank.
There are also reports that Bruno Michel Iksil, known as the "London Whale" for big positions he took in credit markets, may leave JPMorgan, which is the biggest bank in the United States by assets.
Shares of JPMorgan fell 29 cents, or 0.78%, to $36.67 in premarket trading Monday.
Yahoo!(YHOO) CEO Scott Thompson has stepped down and the company has reached a settlement with activist hedge fund manager Daniel Loeb's Third Point LLC.
The Internet company said Sunday it appointed Ross Levinsohn, Yahoo!'s global head of media, to serve as interim CEO.
A press release from Yahoo! didn't mention the reasons for Thompson's departure, but the changes come amid controversy over his biography. The CEO had said he had received a computer science degree from Stonehill College, but activist shareholder Loeb recently attacked that claim as incorrect.
Reports Monday say before he resigned at CEO of Yahoo!, Thompson disclosed to the company's board that he has been diagnosed with thyroid cancer. The decision to step down was in part influenced by Thompson's cancer diagnosis, a person familiar with the matter told The Wall Street Journal.
Yahoo! shares rose 1.38% in premarket trading Monday to $15.41.