LocateStock.com Daily High 5 For Monday October 13, 2008

Jersey City, NJ – October 13, 2008

     

The LocateStock.com HIGH 5 for Monday, October 13^th are:

           

5 – JP Morgan – NYSE:JPM

4 – Goldman Sachs – NYSE:GS

3 – Banc of America – NYSE:BAC

2 – Citigroup – NYSE:C

1 – Morgan Stanley – NYSE:MS

 

JPMorgan Chase & Co., (NYSE:JPM) a financial holding company, provides a range of financial services worldwide. The company operates through six segments: Investment Bank, Retail Financial Services, Card Services, Commercial Banking, Treasury and Securities Services, and Asset Management.

* Shares of JP Morgan fell last Thursday, the first day back to short selling after a three-week ban. The following day though, the bank's stock rose $4.96 or 13.52% to $41.64.

The Goldman Sachs Group, Inc. (NYSE:GS) provides a range of investment banking, securities, and investment management services to corporations, financial institutions, governments, and high-net-worth individuals worldwide. It operates in three segments: Investment Banking, Trading and Principal Investments, and Asset Management and Securities Services.

 

* Goldman's credit outlook was revised to negative on Friday by ratings agency Moody's, which expects a downturn in capital markets activity to continue. Shares of GS plummeted $12.55 or 12.38% to $88.80 on news of the downgrade.

 

Bank of America Corporation, (NYSE:BAC) a financial holding company, provides a range of banking and nonbanking financial services and products in the United States and internationally. The company's Global Consumer and Small Business Banking segment offers savings accounts, money market savings accounts, certificate of deposits, individual retirement accounts, regular and interest-checking accounts, and debit cards; U.S. Consumer and Business Card, unsecured lending, and international card; consumer real estate products, including mortgage products for home purchase and refinancing, reverse mortgage products, and home equity products; and insurance services.

 

* Bank of America also rose on Friday, in stark contrast with former investment banks Goldman Sachs Group and Morgan Stanley. BAC rose $1.24 or 6.32% to $20.87 after falling more than 11% the day before.

 

Citigroup, Inc., (NYSE:C) together with its subsidiaries, provides a range of financial products and services to consumer and corporate customers in the United States and internationally. The company's Global Consumer Group segment offers various banking, lending, insurance, and investment products and services through its branches, automated teller machines (ATMs), and automated lending machines (ALMs), the Internet, telephone, and mail.

* Citigroup disclosed on Friday that it now holds a 3.1% stake in General Motors, a decline from a prior stake of 5.5%. GM shares have plunged to a nearly 60-year low amid the decline in U.S. auto sales and the credit crisis. Shares of Citigroup ended the day up $1.18 or 9.13% to $14.11 on Friday.

Morgan Stanley, (NYSE:MS) through its subsidiaries and affiliates, provides various financial products and services to corporations, governments, financial institutions, and individuals worldwide. The company operates in three segments: Institutional Securities, Global Wealth Management Group, and Asset Management.

 

* Morgan Stanley was one of the biggest losers Friday, falling 22.25% as worries grew about the fate of Morgan's $9 billion infusion from Japan's Mitsubishi UFJ Financial Group. As of Sunday night, the New York Times said Morgan and Mitsubishi UFJ were renegotiating the terms of the deal. The bank plunged more than 42% in the two days since short selling has returned.

 

The daily HIGH 5 stocks are determined by the company's proprietary, internal algorithmic calculators. The result is five securities that are the most sought after to borrow, and have proven to be the hottest stocks to short that day.

 

LocateStock.com is the premier electronic securities lending company providing revolutionary, real-time, hard-to-borrow stock locates and market data to hedge funds and professional traders seeking an efficient and private way to borrow stock associated with short sales. The HIGH 5 is a daily financial news show that highlights stock inventory that is available for short sellers to legally borrow and stay in compliance with Regulation SHO. 

 

For an in-depth market analysis on each individual, hard to borrow stock, tune in daily to LocateStock TV, on http://www.locatestock.com/pressrelease.html

 

CONTACT:     pressrelease@locatestock.com / 201-332-6800

SOURCE:        Locate Stock, LLC