4 Financial Stock Stories Ready for a Midweek Analysis
Barclays (NYSE:BCS): Current price $18.06
On Wednesday, Barclays announced that subsequent to close on Friday, there will be no changes to the constituents in the Atlantic Trust Select MLP Index. Barclays ETN+ Select MLP Exchange Traded Note is connected with the performance of the volume-weighted average price of the index. The ETN was listed on the New York Stock Exchange Arca stock exchange in March under the ticker symbol ATMP.
American International Group Inc. (NYSE:AIG): current price $45.72
AIG said on Wednesday that it signed a five-year reinsurance transaction with Tradewynd Re Ltd., which in return will supply $125 million of indemnity reinsurance protection against United States, Caribbean, and Gulf of Mexico named storms, as well as U.S. and Canadian earthquakes. Beyond that, a diversified portfolio of risks is reinsured under the accord. Included in commercial lines coverages are energy and engineered risks, commercial property, marine and aviation. Consumer lines coverages will be high net worth residential, auto, yacht, and fine art. In order to fund its potential obligations to AIG, Tradewynd Re Ltd. issued a five-year, $125 million single tranche catastrophe bond. The transaction closed Tuesday.
Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.
UBS (NYSE:UBS): Current price $17.25
UBS recruited from Barclays its new managing director in equity-capital markets that cover natural resources. Paul Bjorneby will become the chief of natural resources for ECM Americas, effective in October. He will be based in New York and report to James Palmer, who leads all ECM in the Americas, according to a memo reviewed by MoneyBeat.
Wells Fargo (NYSE:WFC): Current price $42.07
Analysts are waxing optimistic over Wells Fargo as it prepares to post its second-quarter results on Friday. They are anticipating the firm to report a profit of 92 cents per share, up from 82 cents year-over-year from 2012. The consensus has come up from three months ago, when it stood at 90 cents, but has not changed during the past month. For the fiscal year, analysts are forecasting earnings of $3.71 per share.