Morgan Stanley, JPMorgan: Hot Trends
(Hot trends article updated with briefs on Morgan Stanley, Apples Macbook Pro, JP Morgan, Toyota's Lexus GX 460 and hedge funds.
NEW YORK (
) -
The chatter on Main Street (a.k.a. Google) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on Google, and highlights the news that could make stocks move.
Morgan Stanley
(MS) - Get Report
was a trending search term Wednesday after
The Wall Street Journal
reported this morning that the firm may lose $5.4 billion in its real estate fund from bum property investments.
The losses stem from investments in properties such as the European Central Bank's Frankfurt headquarters, a big development project in Tokyo and InterContinental hotels across Europe, among others, the newspaper reports.
Apple's
(AAPL) - Get Report
Macbook Pro continued to make buzz Wednesday after an upgrade to the device was announced on Tuesday.
The new Macbook Pro will include Intel's new Core processors ranging from 2.4GHz to 2.66GHz and a variety of screen options, the blog revealed. Ram will now start at 4GB, while standard storage is 250GB SSD.
JPMorgan
(JPM) - Get Report
was also a hot topic Wednesday after the bank reported first-quarter profit that topped Wall Street's expectations, sending shares higher in morning trading Wednesday.
JPMorgan saw its profit more than double
to $3.3 billion, or 74 cents a share, as revenue from its investment banking unit offset losses on consumer loans.
Also garnering a lot of searches Wednesday was
Toyota
(TM) - Get Report
, which
suspended sales of its Lexus GX 460
after
Consumer Reports
deemed the vehicle unsafe.
The Lexus GX 460 was reported to be a roll-over risk, prompting the magazine to give it a "Don't Buy" rating.
Toyota has asked dealers to halt sales until it conducts its own tests.
"Hedge funds" was also a popular search phrase on Google Wednesday morning. That came after
Citigroup
(C) - Get Report
said it will sell a $4.2 billion hedge fund unit, including its fund-of-funds business, to
SkyBridge Capital
.
Reuters
also reported on Tuesday that the U.S. Senate is looking to change tax laws for hedge funds, with any change likely to increase the tax liability of hedge funds and private equity firms.
In February, investors added $16.6 billion to hedge funds, a report revealed earlier this week.
--Reported by Jeanine Poggi in New York.
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