Financial Sector Review: Goldman Partner Retires, JPMorgan Chase Invests in GoPago

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ICG Group Inc. (NASDAQ:ICGE): Reports Q4 revenue $36.1M, consensus $34.8M. Consensus for EPS may not compare.

The shares closed at $9.36, down $0.78, or 7.69%, on the day. Its market capitalization is $350.52 million.

Radian Group Inc. (NYSE:RDN): Radian Guaranty’s risk-to-capital ratio was 21.5:1 as of December 31, 2011, compared to 21.4:1 at September 30, 2011. The company said that in the event Radian Guaranty is no longer in compliance with the risk-based capital requirements of certain states, it is preparing to continue writing new business in those states through state-specific waivers or similar relief, or by using Radian Mortgage Assurance, a wholly owned subsidiary of Radian Guaranty.

The shares closed at $3.76, down $0.14, or 3.53%, on the day. Its market capitalization is $500.83 million.

JPMorgan Chase & Co. (NYSE:JPM): JPMorgan Chase has invested in GoPago, Inc., a provider of emerging mobile payments technology. GoPago has developed a free smartphone application that allows consumers to browse, order, and pay for local goods and services. The investment, in the form of GoPago’s Series A preferred stock, will support the company’s expansion into mobile payment services by helping brick and mortar businesses modernize to better compete with online businesses.

The shares closed at $38.49, up $0.42, or 1.1%, on the day. Its market capitalization is $145.21 billion.

Bank of America Corp (NYSE:BAC), Wells Fargo & Company (NYSE:WFC): The SEC wants to curb high frequency traders’ huge influence on stock trading and may charge fees for the many buy and sell orders that are later canceled, among other options, reports the Wall Street Journal.

BAC shares closed at $8.02, up $0.07, or 0.88%, on the day. Its market capitalization is $84.50 billion. WFC shares closed at $30.65, up $0.06, or 0.2%, on the day. Its market capitalization is $161.30 billion.

Citigroup Inc. (NYSE:C): According to three sources with direct knowledge of the deal, Citigroup (NYSE:C) is planning to sell its entire stake in India’s Housing Development Finance Corp for up to $2.1B, Reuters reports.

The shares closed at $32.71, up $0.35, or 1.08%, on the day. Its market capitalization is $95.64 billion.

Goldman Sachs Group, Inc. (NYSE:GS): Goldman Sachs (NYSE:GS) partner Luca Ferrari, who is currently responsible for its northern European mergers and acquisitions business, will retire, reported Reuters, citing an internal memo.

The shares closed at $115.80, up $1.44, or 1.26%, on the day. Its market capitalization is $57.01 billion.

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To contact the reporter on this story: Stella Mariz at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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