Wednesday Hot Stock Watch: This Morning’s Market Movers

These stocks are moving quickly in high volume trading this morning, will they continue to bump the markets early rally?

Ford (NYSE:F) is up .9% in trades this morning in spite of news that the automaker footed a small lobbying bill in the first quarter of 2011. Reportedly Ford spent $1.67 million lobbying in Q1 this year on agendas related to “electric cars tax break, as well as incentives for research expenses.” The company’s expense in that department is up by 20% since last quarter. Ford also “supported a bill that would boost the number of plug-in electric vehicles eligible for a federal tax credit to 500,000 from 200,000. It also lobbied on loans for auto parts suppliers and incentives for battery companies.”

JP Morgan (NYSE:JPM) stock is up 1.57% this morning with the wider financial sector also outperforming, up 1.15%. The firm remains involved in a number of highly contentious lawsuits, though one was settled this morning between Morgan and the SEC, with a federal judge ordering the bank to pay $154 million to settle claims of mortgage fraud emerging from pre-financial crisis transactions. The judge said of his ruling, “another important step for the financial industry and the SEC in righting the wrongs of the recent financial crisis.”

Bank of America (NYSE:BAC) shares way up this morning (3.33%) on news that that the bank “reached an agreement to resolve nearly all of the legacy Countrywide-issued first-lien residential mortgage-backed securitization (NASDAQ:RMBS) repurchase exposure, representing 530 trusts with original principal balance of $424 billion.” Also making headlines this morning was news that the company plans to settle an outstanding claim from private investors (for $8.5 billion) who lost money on mortgage backed securities.

BJ’s Wholesale (NYSE:BJ) also way up today (4.66%), related to news that the company will be bought out by private equity firms. Leonard Green & Partners and CVC Capital Partners will pay straight cash to buy out the wholesaler, valued at $2.8 billion. Shareholders of BJ will receive $51 per share in the agreement, which was unanimously supported by the company’s board of directors. The buyout is expected to finalize in the fourth quarter of this year.

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