Citigroup C Earnings April 17, 2009 4/17/09

As you can see below, Citigroup ( C ) reported earnings 4/17/09. Citi stock is rising in pre market, $4.41 Up 9.98% off this earnings news.

Citigroup Earnings Release - April 17, 2009


Citi Reports First Quarter Revenues of $24.8 Billion

- Net Income of $1.6 Billion, Loss Per Share of $0.18

- Positive EPS Excluding The $0.24 Impact of Resetting The Conversion Price of Certain Preferred Shares

- Net Income Primarily Driven by Improved Performance in Institutional Clients Group and Continued Expense Reductions

Full Earnings Release

As far as Citigroup's stock price goes, the real test will be $5 per share. If they can push Citi through $5 and close the stock over $5, big institutional money will start to flow back in. Keep in mind, this all started with a break up through $3 last week. The only thing I really got wrong was how the market reacted to earnings today. This earnings report has every possible good thing added ( market to market ect ), just wait until the third quarter!! As for now, as long as Citi remains over $4 you can trade it from the long side.

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