4 Financial Stock Stories Getting Traction on Tuesday

Goldman Sachs Group Inc. (NYSE:GS): Current price $166.22

Goldman Sachs has issued its first public rebuttal regarding mounting criticism of its metals warehousing division, denying that Metro International Trade Services has purposely caused aluminum shortages and inflated prices. In a Tuesday statement, the bank said that Metro denied that its metals warehousing arm has moved aluminum from warehouse to warehouse, so as to earn more rent.

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GS

Toronto-Dominion Bank (NYSE:TD): Current price $85.31

On Tuesday, TD Bank Group said that it anticipates TD Ameritrade’s third quarter earnings will translate into a contribution of around CDN$69 million to fiscal 2013 third quarter net income for its Wealth and Insurance arm, which will be posted under International Financial Reporting Standards. TD Bank Group will report its third quarter financial results, and webcast its quarterly earnings conference call, live on August 29. Details of the conference call and webcast will be announced nearer to that date.

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TD

Brookfield Asset Management Inc. (NYSE:BAM): Current price $37.88

This week, Brookfield concluded its fundraising for a $4.4 billion worldwide real-estate fund, representing one of the heftiest property funds raised since the economic crisis. The fund’s amount came out well beyond the firm’s official target of $3.5 billion, and even surpassed Brookfield’s internal goal of $4 billion, according to fund officials. Blackstone Group and Starwood Capital Group are among the names that recently completed raising their biggest property funds.

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BAM

Morgan Stanley (NYSE:MS): Current price $27.84

Trading sources reported on Tuesday that two big name oil traders have exited Morgan Stanley’s European desk, while Wall Street banks struggle to keep talent during heightened regulator scrutiny and a slump in revenue. A source close to the bank said that Morgan Stanley, which plans to get out of trading in certain commodities markets, is committed to oil trading, and had no intention of shrinking its oil trading operations. The sources said that North Sea oil derivatives traders Pasi Siitonen and Simon Hutchinson, who have worked at Morgan Stanley for a number of years, left the bank in the past few days.

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MS

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