Prudential (PRU) to sell Wells Fargo Advisors stake for $5B - Brent Archer

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Prudential (PRU) to sell Wells Fargo Advisors stake for $5B
Jun 18, 2009 06:00 PM UTC

Brent Archer

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Symbol	Sentiment	Start	Return	Closed
PRU	n/a
WFC	n/a

Via BloggingStocks:

Filed under: Major movement, Good news, Options, Technical Analysis, Wells Fargo (WFC)

Prudential Financial (NYSE: PRU - option chain) shares are rising today after PRU said last night it plans to sell its 38-percent stake in Wells Fargo Advisors to Wells Fargo & Co. (NYSE: WFC). The stake is estimated to be worth $5 billion. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on PRU.

PRU opened this morning at $36.06. So far today the stock has hit a low of $36.06 and a high of $38.03. As of 11:30, PRU is trading at $37.58 up $1.85 (5.2%). The chart for PRU looks bullish and S&P gives PRU a positive 4 STARS (out of 5) buy ranking.

Continue reading Prudential (PRU) to sell Wells Fargo Advisors stake for $5B

Prudential (PRU) to sell Wells Fargo Advisors stake for $5B originally appeared on BloggingStocks on Thu, 18 Jun 2009 13:00:00 EST. Please see our terms for use of feeds.

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