4 Financial Stock Stories Investors Can Take to the Bank Today

Goldman Sachs Group Inc. (NYSE:GS): Current price $163.85

Knowledgeable sources say that Goldman Sachs and Deutsche Bank are funding the purchase of the 650 Madison building in New York with an $800-million loan. The lenders intend to package the debt on the Manhattan tower into bonds to sell to investors, according to the sources, one of which indicated that a $150-million portion might be separated into riskier mezzanine loans that pay higher yields. Neither the spokesman for Goldman Sachs Michael DuVally, nor Amanda Williams of Deutsche Bank in New York, made a comment.

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Bank of America Corp. (NYSE:BAC): Current price $14.60

Bank of America are set to become the number-one seller of United States structured notes for the second consecutive year, issuing its highest proportion at any time of securities tied to stocks. The Charlotte-based bank leads with $3.28 billion of issuance, of which 93 percent or $3.04 billion is linked with equities. Morgan Stanley comes in second with $2.93 billion of total sales. Bank of America has been aided by declining credit risk and jumping stock markets with the Standard & Poor’s 500 Index climbing by 19 percent in 2013.

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Citigroup Inc. (NYSE:C): Current price $51.84

In the second quarter, the Polish lender Bank Handlowy, which is a division of Citigroup, lowered the value of its reserve for bad loans for the first time in five and one-half years, helping it beat consensus with a 30-percent net profit increase. Handlowy, along with a number of other Polish lenders posted better-than-anticipated results, further boosted by sizable gains on its bond portfolio due to record low yields on Polish government debt. Beyond that, the bank reduced its bad loan provisions by $9.2 million, mainly thanks to an improvement in the quality of retail loans.

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American Express Co. (NYSE:AXP): Current price $76.21

On Thursday, American Express and Isis announced that they will introduce American Express Serve to the Isis Mobile Wallet. The new co-branded account will be available in every Isis Mobile Wallet, forming part of a nationwide debut later in 2013 that will permit millions of Americans to access and pay using their American Express Serve account. By adding American Express Serve to the Wallet, customers will be enabled to pay bills online and transmit money to friends and family.

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