4 Financial Stock Stories To End the Trading Week

JPMorgan Chase & Co. (NYSE:JPM): Current price $47.39

Prosecutors are taking a look into whether J.P.Morgan withheld information in connection with Bernie Madoff, and the bank also faces a criminal inquiry as to whether it lied to investors and regulators concerning its multibillion dollar trading loss, according to The New York Times, which cited unnamed sources. In the meantime, the sources added that at least two J.P.Morgan board members are concerned about the bank’s “mounting problems” as a minimum of eight federal agencies are investigating the Wall Street bank.

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JPM

Goldman Sachs Group (NYSE:GS): Current price $148.19

From Wednesday’s Lightning Round on CNBC, here is Jim Cramer’s take on Goldman shares: “I’m a buyer of Goldman Sachs, said Cramer, if for no other reason than Warren Buffett is bullish.”

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GS

General Electric Company (NYSE:GE): Current price $23.12

GE Capital, Franchise Finance recently supplied $11.3 million to the Burger King franchisee Ghai Management Services. The funding was used to buy six Taco Bell locations in Northern California.

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GE

Citigroup (NYSE:C): Current price $44.22

Citi has won a dismissal of a lawsuit brought by Woori Bank Co. of South Korea, which attempted to recover $95 million in losses from collateralized debt obligations. On Wednesday, United States District Judge Laura Taylor Swain in Manhattan granted Citigroup’s request to dismiss Woori’s claims, because the bank faled to supply the required detail to indicate how Citigroup could have made misleading or false statements that prompted Woori to buy the securities. Subsequently, the judge permitted Woori to try to file an amended complaint. In the failed suit, Woori Bank alleged that Citigroup used misleading credit ratings to cover up the fact that many of the mortgages underlying its CDOs and residential mortgage-backed securities would probably default, according to a complaint filed May 15th of last year.

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C

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