Early Movers: Medical Marijuana Inc, Royale Energy, Wells Fargo & Co, Citigroup Inc

NEW YORK, April 11, 2013 – cheapstocks.us, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on Medical Marijuana Inc, Royale Energy, Wells Fargo & Co, Citigroup Inc.

Medical Marijuana Inc (PINK:MJNA) stock climbed 17.39% to $0.270. The company, on April 11, pre-announce its fourth quarter earnings. The company earned net income of approximately $5.52 million on gross revenues of $8.45 million for the quarter ended March 31, 2013. This represents a gross revenue increase of over $3.35 million when compared to the prior quarter ended December 31, 2012. When compared to the same quarter ended March 31, 2012 this represents revenue increase of $6.68 million.

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Royale Energy, Inc. (NASDAQ:ROYL) shares fell 7.45% to $3.09. The company, on April 10, announced that it has signed a letter of intent to receive $100 per acre in cash, plus other consideration including stock options and exploration cost sharing for a total of over $1,200 per acre for up to 50,875 acres of its 96,000 acre Alaska North Slope holdings. An undisclosed company has agreed in principal to fund all exploration costs for seismic data acquisition and the drilling of two horizontal wells for a total of $38 million.

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Wells Fargo & Co(NYSE:WFC) shares decreased 0.16% to $37.51. The company on April 9 sold servicing rights to $12.2 billion of reverse mortgages to Walter Investment Management Corp. (WAC). The loans are
owned by Fannie Mae, and Wells Fargo will continue to service other reverse-mortgage loans in its portfolio, Vickee Adams, a spokeswoman for the San Francisco- based bank, said in an e-mail. Terms weren’t disclosed in a statement from Tampa, Florida-based Walter.

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Additionally, Wells Fargo Commercial Banking, a part of Wells Fargo & Company, on April 4, has hired Keith Plummer as vice president and relationship manager. He will focus on building and serving middle market commercial customers in Chicago with annual revenues of at least $20 million.

Citigroup Inc. (NYSE:C) stock gained 0.73% to $45.38. The company, on April 11, said it will sell its consumer banking unit in Turkey to OAO Sberbank (SBER), Russia’s largest lender, as it withdraws or scales back
operations in some emerging markets. The transaction, subject to regulatory approval, is expected to be completed in the third quarter, Denizbank, the Turkish unit of Sberbank, said in a filing to the Istanbul stock exchange
today. The price will be announced later, it said. The unit may be valued at about $270 million, a person who asked not to be identified because the sale talks were private, told Bloomberg last month.

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Additionally, Citibank Bahrain on Mar. 22 announced the launch of “Biggest Ever Cash Back” campaign for their credit card members. This is a unique and innovative balance transfer promotion which assists customers to pay off their other card balances and book them with a Citibank Credit Card at a much lower interest rate.

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Source: Accesswire IA (April 11, 2013 – 12:12 PM EDT)

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