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State Street Offering $1.5B in New Stock

State Street Corp offering $1.5B in new common stock and will also be selling non FDIC guaranteed notes to repay the Federal governments tarp funds even after they passed last week’s stress test.  Charttrader Investment advisors Miami.  This is not one of the firms that the gov. said did not need to raise additional capital but State Street Corp (SST) wants to get out of the restrictions that may be imposed by accepting tarp funds.  They see 2009 profit of $4.25 to

$4.50 better than analysts were expecting. Analysts also boosted shares of Bank of America(BAC) when Goldman Sacs added BAC to its conviction buy list saying it had a "Solid Quarter" for its mortgage and capital markets business.  Goldman Sacs, (GS) higher in pre market trading after Citigroup(C) raised its price target and 2nd Quarter and 2009 profit estimates and upgraded to a hold at JMP securities.  Morgan Stanley also higher after Citigroup raised its price target as well as its earnings estimates for 2nd Quarter and 2009.

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