4 Financial Stock Stories To End the Trading Week

Wells Fargo & Company (NYSE:WFC): Current price $37.70

Wells Fargo will have to pay $105 million to resolve a lawsuit filed against it by Medical Capital Holdings, which claims that the bank, while acting as a trustee for debt issued by Medical Capital Holdings, did not protect the investors against fraud. The settlement agreement was filed in the United States District Court in Santa Ana, California, and followed a judge’s dismissal of Wells Fargo’s attempt to seek relief from the charges in April. Actually, Medical Capital raised $1.7 billion from over 20,000 investors from 2003 to Jul 2009, when the U.S. Securities and Exchange Commission brought a lawsuit against the company and its higher management for fraud, after which it soon collapsed and investors lost between $839 million and $1.08 billion.

Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.

WFC

Regions Financial Corporation (NYSE:RF): Current price $8.57

Regions will redeem its issued and outstanding 6.625 percent Trust Preferred Securities which are worth $498 million. These TruPS were issued by Regions Financing Trust II, with the redemption scheduled for May 31. Regions has set the price of redemption at $1,000 per share. The company will pay this redemption price alongside the accrued and unpaid distributions due on the securities, until the date of redemption to its shareholders.

Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.

RF

Morgan Stanley (NYSE:MS): Current price $22.81

Twitter has recruited the managing director at Morgan Stanley Cynthia Gaylor, to be its chief of corporate development, according to Alexander Macgillivray, Twitter’s chief attorney, in a tweet on Thursday. Thus far during her career, Gaylor has worked on tech deals that include the sale of Zappos to Amazon.com, says her profile on LinkedIn. More recently, she has been an advisor on financing transactions such as initial public offerings.

Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.

MS

JPMorgan Chase & Co. (NYSE:JPM): Current price $47.25

United States government investigators have discovered that JPMorgan had manipulated trading in the California and Michigan electricity markets, according to The New York Times, which said that it had reviewed a confidential, 70-page government document  sent to JPMorgan in March, and which also scrutinized the bank’s current chief of global commodities and former chief financial officer Blythe Masters. The newspaper, citing the document, reported that  investigators from the Federal Energy Regulatory Commission had found that JPMorgan devised “manipulative schemes” that transformed “money-losing power plants into powerful profit centers.”

Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.

JPM

Don’t Miss: Warren Buffett: Here’s What America’s Economy Needs.

More from The Cheat Sheet