Wednesday, October 15, 2008
LocateStock.com Daily High 5 For Wednesday October 15, 2008

Jersey City, NJOctober 15, 2008

     

The LocateStock.com HIGH 5 for Wednesday, October 15th are:

           

5 – Merrill Lynch – NYSE:MER

4 – JP Morgan – NYSE:JPM

3 – Banc of America – NYSE:BAC

2 – Citigroup – NYSE:C

1 – Morgan Stanley – NYSE:MS

 

Merrill Lynch & Co., Inc., (NYSE:MER) together with its subsidiaries, provides investment, financing, insurance, and related services to individuals and institutions worldwide. It's Global Markets and Investment Banking segment offers various global market services, which facilitate client transactions and markets in securities, derivatives, currencies, commodities, and other financial instruments for clients; provides financing, securities clearing, settlement, and custody services; and engages in principal and private equity investing and proprietary trading activities.

* On Tuesday the federal government said it will spend $250 billion to buy equity stakes in several major financial institutions as part of its $700 billion bailout of the U.S. banking system. Bank of America, which is acquiring Merrill in a $50 billion deal, will receive $25 billion - $10 billion to Merrill while Bank of America gets the other $15 billion. Shares of MER rose $3.73 or 21.17% to $21.35 on the news.

JP Morgan 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.

* The Treasury agreed to invest more than $100 billion in nine of the largest U.S. banks, including J.P. Morgan on Tuesday. Shares of JP Morgan fell $1.28 or 3.05% to $40.71 on news that the Treasury is investing $25 billion in senior preferred shares of the company.

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.

 

* The Treasury agreed to invest more than $100 billion in nine of the largest U.S. banks, including Bank of America on Tuesday. Treasury is investing $15 billion in BofA, while Merrill will receive $10 billion. BAC rocketed $3.74 or 16.41% to $26.53 and is up 27% so far this week.

 

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.

* Treasury agreed to invest more than $100 billion in nine of the largest U.S. banks, including Citigroup on Tuesday. Treasury is investing $25 billion in senior preferred shares of Citigroup. Citi shares shot up $2.87 or 18.22% to $18.62 on the news. The stock is up 32% so far this week.

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.

 

* Treasury agreed to invest more than $100 billion in nine of the largest U.S. banks, including Morgan Stanley on Tuesday. Morgan agreed to government investments of $10 billion. Shares of MS rocketed $3.84 or 21.22% to $21.94 after surging 87% the day before. Irreparable

 

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

 

 

 

 

 


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