4 Financial Stock Stories for Savvy Midweek Reading

Visa Inc. (NYSE:V): Current price $179.11

Shares of the payment network giant are down almost 5 percent in afternoon trading Wednesday, following a judge’s decision that the Federal Reserve had made an error by inflating the debit card fees that banks are allowed to charge retailers. Swipe, or interchange, fees are set by Visa and MasterCard Inc., which collect the money and remit it to member banks that issue cards. United States District Court Judge Richard Leon in Washington ruled Wednesday that the Fed used prohibited data when it set a 21-cent cap on debit card fees under the Dodd-Frank Act of 2010. The decision represented a victory to retailers who challenged the fees as being excessive.

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JPMorgan Chase & Co. (NYSE:JPM): Current price $56.21

On Wednesday, two Democratic Senators requested that American energy regulators provide additional details concerning terms of a resolution, which were reached on alleged power market manipulation in California and the Midwest by a division of JPMorgan Chase & Co. In a letter to the chief of the Federal Energy Regulatory Commission, Elizabeth Warren (D-MA) and Edward Markey (D-MA) questioned whether the settlement announced on Tuesday included “adequate refunds to defrauded ratepayers.”

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Goldman Sachs Group Inc. (NYSE:GS): Current price $165.61

Goldman Sachs Chief Operating Officer Gary Cohn told CNBC on Wednesday that his company will remain in the commodities business, observing that  ”Commodity risk is a major component of risk for many of our clients, and we need to provide risk management for our clients.” The firm refuted criticism ignited by an article in The New York Times that it has purposefully delayed aluminum deliveries from its warehouses and hiked prices for companies that use the product. Goldman owns warehouses that house aluminum as part of its commodities business.

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Genworth Financial Inc. (NYSE:GNW): Current price $13.41

The top-performing insurer in the Standard & Poor’s 500 Index in 2013 said that its earnings grew by 86 percent, as its business that backs domestic home loans posted a second consecutive profit. Second quarter net income soared to $141 million, or 28 cents a share, from $76 million, or 16 cents, year-over-year, according to a Wednesday statement. Operating profit excluding some investment results stood at 27 cents a share, missing the 29-cent consensus of 10 analysts surveyed by Bloomberg. Shares have seen a 78-percent share rally from January 1.

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Investing Insights: Is JPMorgan Chase a Buy at These Prices?

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