Goldman shares rise as rivals line up to take stakes in bank's 'Simon' investing app

J.P. Morgan Chase, Barclays, HSBC Holdings, Credit Suisse, Wells Fargo and Prudential Financial were in advanced talks to take stakes in the business, valuing Simon at about $100 million, a source familiar with the matter said. Morgan Stanley and Bank of America announced their backing of a rival structured notes sales platform called Luma in July. Goldman Sachs GS shares jumped 2 percent after word it has lined up rival banks to take stakes in its three-year-old app devoted to selling complex investment products.