4 Financial Stock Stories Making Thursday Headlines

Goldman Sachs Group (NYSE:GS): Current price $154.99

The number-one construction firm Empresas ICA SAB, will divest its minority interest in a Mexican tollway operator to its partner Goldman Sachs Group, and utilize the proceeds to fund short-term debt. Empresas said that it expects to obtain $380 million from the sale of its 18.7-percent stake in Red de Carreteras de Occidente, which is majority-owned by Goldman Sachs. The transaction must be okayed by Mexico’s antitrust regulator and also the Ministry of Communications and Transportation, according to a Thursday emailed statement from the buyer.

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Morgan Stanley (NYSE:MS): Current price $25

The firm will trim back its commodities unit by leaving areas like trading of agricultural products, freight, and a few European power and gas entities, after similar steps by peer banks because of a poor outlook for revenue. The action will lead to the exits of roughly 30 traders or just shy one-tenth of the workforce in the bank’s commodities division, which is one of the most powerful in the industry, according to a knowledgeable source. A memo stated that The commodities revenue pool available to firms in our sector has fallen by almost 50 percent from the peak years of 2007-2009. Much of this decrease is due to cyclical factors, and we firmly believe that the cycle will turn again in our favor in the future.”

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Wells Fargo & Co. (NYSE:WFC): Current price $40.02

Wells Fargo is the Small Business Administration’s Large 7a Lender of the  Year, for the second time in three years. The 2013 award will be presented to Wells Fargo, which is the No. 1 SBA 7a lender to the country’s small businesses by dollars, on Friday at the SBA’s National Small Business Week celebration event in  Washington, D.C. The award recognizes Wells Fargo’s leadership and role in driving economic growth in the United States as an SBA lender, and will be presented by Administrator Karen G. Mills of the Small Business Administration.

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WFC

Deutsche Bank (NYSE:DB): Current price $43.28

On Thursday, Deutsche Bank announced its appointment as the successor depositary bank for the sponsored Level I American Depositary Receipt program of Koninklijke KPN N.V., which is based in The Netherlands. KPN is a provider of telecommunications, information and communications tech in that country, offering wired and wireless telephony, broadband, and TV to consumers, and end-to-end telecom and ICT services to business customers. In Germany and Belgium, KPN supplies wireless operations and offers mobile telephony products and services to retail customers via E-Plus and BASE Company, respectively.

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DB

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