Facebook Skyrockets After Citigroup Update and 2 Other Hot Stocks to Watch
Facebook Inc. (NASDAQ:FB): Current price $49.38
Facebook shares are getting very close to $50 in heavy late-morning trading following Citigroup’s upgrade from Neutral to Buy earlier on Tuesday. Analyst Mark May wrote in an investor note that the catalysts that enabled Facebook to post strong second-quarter results should continue. Subsequent to chats with several Facebook advertisers, May reported that a number of them are hiking their spending on the social network by some 15 percent this quarter, and that ad prices continue to rise and desktop ads remain effective.
JPMorgan Chase & Co. (NYSE:JPM): Current price $50.95
A number of separate news reports indicate that JPMorgan could face a lawsuit brought by the Department of Justice concerning mortgage-backed securities it sold before the financial crisis. Last month, JPMorgan disclosed it “is responding to parallel investigations being conducted by the Civil and Criminal Divisions of the United States Attorney’s Office for the Eastern District of California relating to MBS offerings securitized and sold by the Firm and its subsidiaries. In May 2013, the Firm received a notice from Civil Division stating that it has preliminarily concluded that the Firm violated certain federal securities laws in connection with its subprime and Alt-A residential MBS offerings during 2005 to 2007.”
Ford Motor Co. (NYSE:F): Current price $17.32
The program Ford Warriors in Pink, which raises awareness and funds in the struggle against breast cancer, has united with the actor Gilles Marini to create a limited-edition T-shirt to add to the 2013 Warriors in Pink collection. The entirety of the net proceeds from the T-shirt go to the Dr. Susan Love Research Foundation, which is dedicated to finding the cause of breast cancer so as to eliminate the disease. The T-shirt retails for $20 and can be purchased at www.fordcares.com.
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