4 Financial Stock Stories for Midweek Perusal

Citigroup (NYSE:C): Current price $52.40

Allstate Corporation (NYSE:ALL) has dropped a lawsuit in which it alleged that Citigroup fraudulently sold hundreds of millions of dollars worth of mortgage-backed securities. Allstate brought a suit against Citigroup in New York State Supreme Court in Manhattan back in 2011, alongside banks including Deutsche Bank, Bank of America Corporation, and Morgan Stanley. Allstate, which claimed in the suit that it bought in excess of $200 million of securities from Citigroup that were backed by residential mortgages, voluntarily discontinued the case, said a court filing dated Tuesday.

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C

CME Group (NASDAQ:CME): Current price $67.25

The derivatives marketplace, working jointly with its strategic world real estate advisor Holly Duran Real Estate Partners, has retained Newmark Grubb Knight Frank to look at the sale of the NYMEX Building, which is headquarters to the New York Mercantile Exchange. The 16-story building is at One North End Avenue, overlooking the Hudson River immediately west of Brookfield Place and Goldman Sachs Tower. CME Group will continue to operate its NYMEX trading floor in New York, no matter whether the NYMEX Building is sold.

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CME

The Carlyle Group (NYSE:CG): Current price $29.65

On Wednesday, Carlyle Group said that it will purchase a 49-percent interest in two Chinese shopping malls, banking on increasing consumer demand and expansion of the retail sector in China. Through a vehicle counseled by its Asia real estate group, Carlyle acquired the stake from the shopping mall developer SZITIC Commercial Property Co., as part of a strategic partnership formed between the two companies, according to an emailed statement.

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CG

Morgan Stanley (NYSE:MS): Current price $24.96

In order to restart its flagship real-estate program subsequent to large losses during the financial crisis, Morgan Stanley’s real-estate division, Morgan Stanley Real Estate Funds is getting prepared to raise a global property fund of between $1 billion to $3 billion, according to inside sources, who also said that fund executives and other prospective investors hope that China Investment Corp., a government-run fund that owns a 6.4-percent stake in Morgan Stanley, will become an anchor investor.

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