This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

JPMorgan Sued for Defrauding Investors: Hot Trends

Stocks in this article: JPM KFT

NEW YORK ( TheStreet) -- Popular searches on the Internet include JPMorgan Chase (JPM) on news that the New York attorney general is suing the bank for defrauding investors who lost money on mortgage-backed securities packaged by Bear Stearns.

JPMorgan bought Bear Stearns in March 2008. The lawsuit by Attorney General Eric Schneiderman is the first action on behalf of a group put together by President Obama to pursue those whose wrongdoing contributed to the financial crisis. The suit alleges Bear Stearns did not ensure the quality of loans underlying residential mortgage-backed securities -- contributing to investors' losses of more than $22.5 billion.

The lawsuit pertains to securities Bear Stearns made in 2006 and 2007 -- before JPMorgan took the company over. JPMorgan said it will contest the allegations.






Chrysler is trending as the auto company reported a 12% sales increase in September -- reaching its highest number of sales for the month since 2007.

Chrysler said it sold 142,041 vehicles in September. The company said all of its brands saw sales increases -- especially its new Dodge Dart, which posted a 72% jump in sales from August. Chrysler also said its Fiat brand saw its highest monthly sales number in the U.S., with 4,176 vehicles sold.

September was the 30th consecutive month of year-over-year sales gains for Chrysler.






Mondelez is another popular search. Mondelez International and Kraft Foods (KFT)are set to begin trading Tuesday as two separate public companies.

Mondelez is the global snack business which Kraft spun off in March. The company, which operates product brands like Oreo and Nabisco, will trade under the ticker MDLZ.

Kraft's lineup consists of Velveeta and Oscar Mayer brands.






The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move.

-- Written by Brittany Umar.

Brittany joined TheStreet.com TV in November 2006 after completing a degree in Journalism and Media Studies at Rutgers College. Previously, Brittany interned at the local ABC affiliate in New York City WABC-TV 7 where she helped research and produce On Your Side, a popular consumer advocacy segment.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,639.59 +282.72 1.63%
S&P 500 2,047.38 +34.49 1.71%
NASDAQ 4,723.8130 +79.5010 1.71%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs