Goldman Sachs improves; Southern California Edison preferreds rise; MetLife declines

By James McCandless

San Antonio, Feb. 12 – Tuesday saw the preferred market carrying over the positive momentum that started Monday.

At the top of trading, Goldman Sachs Group, Inc.’s series D floating-rate non-cumulative preferred stock improved.

The preferreds (NYSE: GSPrD) rose 36 cents to close at $18.82 on volume of about 456,000 shares.

Elsewhere in finance, JPMorgan Chase & Co.’s 6% series EE non-cumulative preferred stock and its 5.75% series DD non-cumulative preferred stock were climbing.

The series EE preferreds (NYSE: JPMPrC) were up 15 cents to close at $25.83 with about 400,000 shares trading.

The series DD preferreds (NYSE: JPMPrD) added 8 cents to close at $25.26 with about 299,000 shares trading.

Meanwhile, Southern California Edison, a subsidiary of Edison International, saw its 5% cumulative trust preferred securities and its 5.75% fixed-to-floating rate trust preferred securities rise.

The 5% securities (NYSE: SCEPrL) picked up 23 cents to close at $23.00 with about 415,000 shares trading.

The 5.75% securities (NYSE: SCEPrH) gained 14 cents to close at $22.44 with about 342,000 shares trading.

Insurer MetLife, Inc.’s 5.625% series E non-cumulative preferred stock declined.

The preferreds (NYSE: METPrE) lost 10 cents to close at $25.01 on volume of about 239,000 shares.

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