Tuesday's Volume Leaders: Citi, Fannie, & GE

Back to trading on this Tuesday following yesterday's Labor Day holiday and the volume leaders are familiar faces including Citigroup (NYSE:C), Fannie Mae (NYSE:FNM), Bank of America (NYSE:BAC) but a welcome guest also includes General Electric (NYSE:GE) with shares up 4%.

The trading day is half over and as we close in on the noon hour Citi leads the volume with 533 million shares traded but GE is moving as well with 82 million shares traded.  General Electric (NYSE:GE) is getting some love today from JP Morgan after the firm upgraded GE to 'Overweight' and raising their price target to $17 from $12.  JP Morgan notes the the downside here looks attractive versus others that have run, which, combined with an ongoing discount for sentiment, sets up for an interesting relative risk/reward, in their view. Given the recent run in the most disliked stocks, and how quickly sentiment has turned, they would rather be early, especially for one such as this that has underperformed for such an extended period of time, and for which there has been arguably the most controversy. In short, the firm thinks this is one of the last "non-consensus, a little good news can go a long way" stocks in the group.

Citigroup Inc. (NYSE: C) says shareholders have approved the final arrangements that will result in the U.S. government owning 7.69 billion Citi common shares, or 33.6% of the bank’s outstanding shares. The company stated that the number of authorized shares of common stock will climb to 60 billion. Read more on this story at Marketwatch.

Looking for a job? The latest financial institutions said to be hiring include Bank of America Corp. (NYSE:BAC) and hedge fund SAC Capital Advisors LLC.

Volume Leaders:

Symbol	Name	Last Trade	Change	Volume
C	CITIGROUP INC	4.68 12:20PM ET	0.17 (3.51%)	533,693,922
FNM	FANNIE MAE	1.63 12:20PM ET	0.14 (7.91%)	160,576,981
BAC	BK OF AMERICA CP	17.08 12:18PM ET	0.01 (0.05%)	82,940,505
GE	GEN ELECTRIC CO	14.48 12:20PM ET	0.61 (4.40%)	82,645,299

Happy Safe Trading and welcome back.