Goldman Sachs and Morgan Stanley Lead Financial Stocks Lower

Through most of the trading day on Friday, September 2, 2011, these stocks are bringing down the Financial (NYSE:XLF) sector. Over a dozen major U.S. banks (NYSE:KBE) are expected to be named in a Federal Housing Finance Agency lawsuit arguing that they misrepresented the quality of mortgage securities they packaged and sold leading up to the housing market collapse. Long time Wall St. Cheat Sheet readers know to watch stock prices because Technicals on the Stock Chart are Strong’ is one of the ‘T’s in our CHEAT SHEET investing framework.

Goldman Sachs Group Inc. (NYSE:GS) is among the price losers in the sector as its stock price is $106.38, down $6.05 (-5.2%) from the previous close of $112.16. Goldman Sachs Group, Inc. is a global investment banking and securities firm that specializes in investment banking, trading and principal investments, asset management and securities services.

Stock Price Performance: From July 7, 2011, to September 1, 2011, the stock price had fallen $22.44 (-16.7%) from $134.60 to $112.16. It saw one of its worst periods between April 11, 2011 and April 19, 2011 when shares fell for seven straight trading days, falling 6% (-$9.56). The stock price saw one of its best stretches over the last year between December 29, 2010 and January 5, 2011 when shares rose for six straight trading days, rising 3.8% (+$6.32).

Morgan Stanley (NYSE:MS) is among the price losers in the sector. Its shares are trading at $16.08, which is 86 cents (-5%) below the previous close of $16.93. Morgan Stanley provides its financial products and services to a group of clients and customers, including corporations, governments, financial institutions and individuals.

Stock Price Performance: From July 7, 2011, to September 1, 2011, the stock price had fallen $6.02 (-26.2%) from $22.95 to $16.93. The stock price saw one of its best stretches over the last year between December 16, 2010 and December 28, 2010 when shares rose for eight straight trading days, rising 6.3% (+$1.64). It saw one of its worst periods between October 18, 2010 and October 26, 2010 when shares fell for seven straight trading days, falling 4.8% (-$1.20).

Suntrust Banks Inc. (NYSE:STI) is one of the sector losers in price. Its shares are trading at $18.35, down $1.01 (-5.1%) from the previous close of $19.34. SunTrust Banks, Inc. is a financial services holding company whose businesses provide a range of financial services to consumer and corporate clients.

Stock Price Performance: From July 7, 2011, to September 1, 2011, the stock price had fallen $6.85 (-26.2%) from $26.19 to $19.34. The stock price saw one of its best stretches over the last year between April 26, 2011 and May 3, 2011 when shares rose for six straight trading days, rising 3.9% (+$1.08). It saw one of its worst periods between July 22, 2011 and August 2, 2011 when shares fell for eight straight trading days, falling 11% (-$2.84).

Invesco Ltd. (NYSE:IVZ) is among the price losers in the sector as its stock price is $17.20, down 93 cents (-4.9%) from the previous close of $18.09. Invesco Ltd. is a global investment management company providing retail, institutional and high-net-worth clients around the world with innovative solutions.

Stock Price Performance: From July 7, 2011, to September 1, 2011, the stock price had fallen $5.65 (-23.8%) from $23.74 to $18.09. The stock price saw one of its best stretches over the last year between February 9, 2011 and February 18, 2011 when shares rose for eight straight trading days, rising 9.4% (+$2.32). It saw one of its worst periods between August 15, 2011 and August 22, 2011 when shares fell for six straight trading days, falling 12% (-$2.19).

Eaton Vance Corporation (NYSE:EV) is one of the sector losers in price. Its shares are trading at $22.30, down $1.70 (-6.9%) from the previous close of $23.95. Eaton Vance Corporation manages investment funds and provides investment management and counseling services to high-net-worth individuals and institutions.

Stock Price Performance: From July 7, 2011, to September 1, 2011, the stock price had fallen $6.66 (-21.8%) from $30.61 to $23.95. It saw one of its worst periods between May 12, 2011 and May 25, 2011 when shares fell for 10 straight trading days, falling 6.5% (-$2.12). The stock price saw one of its best stretches over the last year between January 7, 2011 and January 14, 2011 when shares rose for six straight trading days, rising 6.7% (+$1.94).

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