Citigroup Giving It Up Further (C)
Citigroup Inc. (NYSE: C) is getting blasted in after-hours trading. Citi closed down over 3% at $ $3.45 on the day in regular trading, and (update at 6:02 PM EST) shares are down 5.2% at $3.26 PRIOR was shares are down 2.9% at $3.35 on 84,880,018 shares traded since the closing bell alone. Citi was [...]
Citi Punished on TARP Repayment (C)
Citigroup Inc. (NYSE: C) is trading lower now that will repay the $20 billion in TARP funds with new capital raised from private investors. Citi will also facilitate the sale of the government’s $25 billion stock investment, and will begin to remove itself from other forms of government assistance. At 7:31 AM EST we have [...]
Citi Surging on Paulson Stake (C)
Citigroup, Inc. (NYSE: C) is trading up on the filing showing that John Paulson, the notorious short seller, now holds a stake of 300 million shares of Citi. At 8:28 AM EST we have seen almost 15 million shares trade hands and the gain is 4.4% to $4.23 in pre-market trading. This is double the [...]
Financial Titans Fall on Earnings (GS, C, SCHW)
The major financial firms reporting earnings this morning are all lower, despite the notion that there were no misses on earnings. Goldman Sachs Group Inc. (NYSE: GS) posted a monster number on the surface with $3.03 billion in net income. The investment banking giant, or bank holding company with no banking operations, posted $5.25 EPS. [...]
Options Traders Citigroup Lotto Ticket Trade (C)
Options traders are making, and have been making, a very large bet using Citigroup, Inc. (NYSE: C) stock options that is technically a very low risk bet if done on a de-leveraged basis. It is almost very similar to a Citigroup Lotto Ticket. October stock options expiration date in only about 75 hours away for [...]
Citi Gets Analyst Backing (C)
Citigroup, Inc. (NYSE: C) reports earnings this week and has already recovered over 300% from its lows. But few analysts have gotten behind it in support of the stock. This morning we have Deutsche Bank that initiated a BUY rating and a $5.50 price target. Shares are up 1.2% at $4.83 on 15 million shares [...]
Citi Drifts Lower
Citigroup, Inc. (NYSE: C) is trading lower this morning on Financial Times reports that it now wants to just sell its Phibro commodities unit. This move could potentially get it out of the controversy over the $100 million pay demand from its top trader and out from under the Pay Czar criticism. It could also [...]
Citi Up as Singapore Lightens Stake (C)
Citigroup (NYSE: C) is trading up now that it has one less government or sovereign wealth ownership stake as large as it was. Singapore’s sovereign wealth fund has cut its stake in Citi from about 9% down to below 5%. Singapore is also realizing a $1.6 billion profit as it reduced its holding to the [...]
Citi Regaining Ground (C)
Citigroup, Inc. (NYSE: C) is still launching higher. At 8:43 AM EST we have already seen over 12 million shares trade hands and shares are up 2.5% at $4.24. For some color on how this has traded, the high yesterday during the day was $4.51, and it was $4.57 the day before. The highs of [...]
Citi Getting a New Uncle? (C)
Citigroup Inc. (NYSE: C) may be in for a huge day. Last night brought reports that Uncle Same, the U.S. government, might be selling part of its massive stake. Reports from multiple sources gave October as the month that the sale could begin. Be advised that this is not a total exit of the government, [...]
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