LocateStock.com Daily High 5 For Tuesday October 14, 2008

Jersey City, NJ – October 14, 2008

     

The LocateStock.com HIGH 5 for Tuesday, October 14^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.

* JPMorgan Chase shares edged higher Monday despite a negative analyst note from Citi Investment Research that the bank may miss Wall Street's expectations for third-quarter earnings as it socks away more money to cover potentially bad loans. Shares rose 35 cents or .84% to $41.99 Monday.

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 on Monday applied to New York state's banking department to become a "full service state-chartered bank," Gov David Patterson said, saying this helps cement New York's position as a financial capital. Goldman, which would be one of the 10 largest U.S. banks with $150 billion in assets, wants to turn a New York-chartered trust it has had since 1990 into a full service New York bank with trust powers, under the name Goldman Sachs Bank USA. Shares of GS rocketed $22.20 or 25% to $111.00 on the news.

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.

 

* Shares of Bank of America rose Monday after Stifel Nicolaus upgraded the bank to "buy" from "hold." BAC rose $1.92 or 9.20% to $22.79.

 

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.

* A Citigroup analyst late Monday issued a dour outlook for the U.S. economy, writing in a note to clients that tightening financial conditions and weakening economic activity are expected to continue, and suggest "a more severe recession." Shares of Citigroup ended the day up $1.64 or 11.62% to $15.75 on Monday.

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 averted disaster with a $9 billion lifeline from a major Japanese bank, and on Monday declared it will use that money to pick off smaller rivals. Just a few days ago, some on Wall Street openly questioned if the embattled investment bank would be the next to collapse, but now Morgan appears emboldened by the 21% stake taken by Japanese lender Mitsubishi UFJ. Shares of MS shot back up $8.42 or 86.98% to $18.10 after falling more than 60% last week.

 

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