Goldman Sachs: Financial Winners & Losers

Goldman Sachs rose on a report the bank would settle fraud charges with the Securities and Exchange Commission.
By Robert Holmes ,

NEW YORK (

TheStreet

) --

Goldman Sachs

(GS) - Get Report

was once again among the winners of the financial sector, this time following a report that the bank may settle with U.S. regulators over alleged fraud.

Goldman Sachs

may soon settle its fraud case with the

Securities and Exchange Commission

, according to a

New York Post

report. "It's almost a certainty that there will be a settlement," a source told the newspaper.

Another person told the

Post

that Goldman Sachs would rather settle the fraud charges than have regulators release emails, records and other documents.

Goldman Sachs shares were rising by 1.7% to $159.73, bringing its three-day win total to 5%.

Other major U.S. bank stocks were on the rise as well.

Wells Fargo

(WFC) - Get Report

was higher by 2.6% to $33.30,

Morgan Stanley

(MS) - Get Report

rose 2.5% to $31.09,

Bank of America

(BAC) - Get Report

gained 2.4% to $18.20,

Citigroup

(C) - Get Report

was up 2.3% to $4.55, and

JPMorgan Chase

(JPM) - Get Report

climbed 1.6% to $44.15.

Elsewhere,

E*Trade Financial

(ETFC) - Get Report

traded lower after the company said that two affiliates of Citadel Investments, its largest shareholder, are selling a total of 172 million shares of the company's common stock at $1.75 per share. The sale includes an over-allotment option for underwriters to purchase up to an additional 25.8 million shares of common stock.

E*Trade Financial

will not receive any proceeds from the proposed offering. Lately, E*Trade shares were down 5.7% to $1.74.

Synovus

(SNV) - Get Report

shares were also under pressure after the company priced an offering of 255 million common shares at $2.75 per share, which will reap net proceeds of approximately $668.4 million. Synovus also priced 12 million tangible equity units at $25 each, generating net proceeds of approximately $290.1 million.

Following the capital raise announcement, FBR Capital Markets analyst Paul Miller upgraded Synovus to market perform from underperform and upped his price target to $3 from $2.50. Miller said that the capital raise is a "clear positive" for Synovus shares and it places the company "solidly in the survivor category."

Lately, Synovus was up 0.3% to $3.19, having traded as low as $2.95 earlier in the day.

-- Written by Robert Holmes in Boston

.

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