The financial stocks are exploding to the upside today as we await the actual results from the stress tests after the bell today. Just look at some of these gains in pre market today. It looks like a massive short squeeze to me! Wal Mart ( WMT ) reported better then expected same store sales which is adding fuel to the fire as well.
Discuss Stocks - www.stockstobuy.org
Bank Stocks - 5/7/09
Citigroup, Inc. (C) - $4.32 Up 11.92%
Bank of America Corporation (BAC) - $14.53 Up 14.50%
Direxion Financial Bull 3X Shares (FAS) - $12.71 Up 11.22%
Wells Fargo & Company (WFC) - $28.23 Up 5.18%
American International Group, Inc. (AIG) - $2.09 Up 13.59%
Fannie Mae (FNM) - $0.96 Up 7.87%
Freddie Mac (FRE) - $1.05 Up 11.70%
Huntington Bancshares Inc. (HBAN) - $3.95 Up 14.49%
Fifth Third Bancorp (FITB) - $6.41 Up 21.45%
General Electric Co. (GE) - $14.31 Up 4.68%
General Motors Corporation (GM) - $1.75 Up 5.42%
Capital One Financial Corp. (COF) - $26.68 Up 19.43%
Direxion Financial Bear 3X Shares (FAZ) - $4.66 Down 11.07%
UltraShort Financials ProShares (SKF) - $39.67 Down 7.74
Check out my report on March 10th, 2009
Today's Biggest Stock Market Gainers - Top 2009 Stock Gainers - Top 2009 Penny Stocks
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Showing posts with label citi news. Show all posts
Showing posts with label citi news. Show all posts
Thursday, May 7, 2009
Friday, April 17, 2009
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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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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Friday, March 20, 2009
Citigroup C News 3/20/09 March 20, 2009
Citigroup ( C ) Stock is up this morning as the company is announcing a new CFO, Ned Kelly.
Citigroup Management Changes - March 20, 2009
Stock Price - $2.66 Up 2.31%
Citi today announced two senior management changes to support the company's business realignment. Gary Crittenden, previously Chief Financial Officer, has been named to the newly created role of Chairman of Citi Holdings, and Edward "Ned" Kelly, previously the Head of Global Banking, will assume the role of Chief Financial Officer at Citigroup. The realignment of Citi into Citicorp and Citi Holdings was announced on January 16.
In this new operational role, Mr. Crittenden will work with Mike Corbat, the interim CEO of Citi Holdings, to optimize the value of the businesses in this unit. Citi Holdings represents a significant portion of the assets of Citigroup.
"Gary and Ned will build on our early accomplishments and help to meet our strategic objectives at Citicorp and Citi Holdings," said Citi CEO Vikram Pandit. "As CFO, Gary successfully managed Citi's re-engineering efforts and reduced expenses during a challenging environment. He is a proven leader with a steady hand and a keen understanding of the complex assets within Citi Holdings. I'm confident Gary will guide and accelerate our efforts to realize the value of Citi Holdings for our shareholders. Ned, who has extensive operational and financial experience, has done an extraordinary job working with our regulators and business partners over the last year and is ideally suited to take the reins from Gary." Full Press Release
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Citigroup Management Changes - March 20, 2009
Stock Price - $2.66 Up 2.31%
Citi today announced two senior management changes to support the company's business realignment. Gary Crittenden, previously Chief Financial Officer, has been named to the newly created role of Chairman of Citi Holdings, and Edward "Ned" Kelly, previously the Head of Global Banking, will assume the role of Chief Financial Officer at Citigroup. The realignment of Citi into Citicorp and Citi Holdings was announced on January 16.
In this new operational role, Mr. Crittenden will work with Mike Corbat, the interim CEO of Citi Holdings, to optimize the value of the businesses in this unit. Citi Holdings represents a significant portion of the assets of Citigroup.
"Gary and Ned will build on our early accomplishments and help to meet our strategic objectives at Citicorp and Citi Holdings," said Citi CEO Vikram Pandit. "As CFO, Gary successfully managed Citi's re-engineering efforts and reduced expenses during a challenging environment. He is a proven leader with a steady hand and a keen understanding of the complex assets within Citi Holdings. I'm confident Gary will guide and accelerate our efforts to realize the value of Citi Holdings for our shareholders. Ned, who has extensive operational and financial experience, has done an extraordinary job working with our regulators and business partners over the last year and is ideally suited to take the reins from Gary." Full Press Release
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Thursday, March 19, 2009
Citigroup C Reverse Stock Split 3/19/09
Citigroup ( C ) stock is opening pre market today, March 19, 2009, at $3.12 as the company has filed a proxy to do a reverse stock split.
Citigroup Stock Split News - March 19, 2009
Citi announced today it has filed a registration statement with the Securities and Exchange Commission (SEC) in connection with its proposed offer to issue its common stock in exchange for publicly held convertible and non-convertible preferred and trust preferred securities. Citi anticipates launching the public exchange offer in early April, subject to completion of the required SEC review process.
Citi plans to file shortly two preliminary proxy statements with the SEC. One preliminary proxy proposes to amend Citi's Charter to, among other things, increase the number of authorized shares of its common stock and authorize the Board of Directors to execute a reverse stock split of its common stock. Shareholder approval to increase Citi's authorized shares is not necessary to complete the exchange of private preferred shares for interim securities or to exchange the public preferred shares for common shares. The conversion of interim securities to common shares will be completed upon adoption of the amendment to authorize additional shares. The other preliminary proxy proposes to amend the Charter and the certificates of designation of each series of its public preferred stock to amend the rights of holders of public preferred stock.
Full Article - From Citigroup Investor Relations
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Citigroup Stock Split News - March 19, 2009
Citi announced today it has filed a registration statement with the Securities and Exchange Commission (SEC) in connection with its proposed offer to issue its common stock in exchange for publicly held convertible and non-convertible preferred and trust preferred securities. Citi anticipates launching the public exchange offer in early April, subject to completion of the required SEC review process.
Citi plans to file shortly two preliminary proxy statements with the SEC. One preliminary proxy proposes to amend Citi's Charter to, among other things, increase the number of authorized shares of its common stock and authorize the Board of Directors to execute a reverse stock split of its common stock. Shareholder approval to increase Citi's authorized shares is not necessary to complete the exchange of private preferred shares for interim securities or to exchange the public preferred shares for common shares. The conversion of interim securities to common shares will be completed upon adoption of the amendment to authorize additional shares. The other preliminary proxy proposes to amend the Charter and the certificates of designation of each series of its public preferred stock to amend the rights of holders of public preferred stock.
Full Article - From Citigroup Investor Relations
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Friday, March 13, 2009
Bank Stocks 3/13/09 March 13, 2009 - FAS
Today, 3/13/09, the bank stocks are higher again after more positive news out of Citigroup. I am a little concerned about the comments coming out of China today about our Treasuries.
Banking Stock Update - March 13, 2009 - Opening Stock Prices
Citigroup ( C ) - $1.90 Up 13.77% - Citigroup says no more capital needed from Government.
Bank of America ( BAC ) - $6.22 Up 6.32% - B of A's Lewis: Economic crisis 'far from over'
Financial Bull 3X ( FAS ) - $5.37 Up 6.34% - FAS is flying as the financial rip higher - FAZ continues to fall, $39, down from $110.
Fifth Third ( FITB ) and Huntington ( HBAN ) are also surging today.
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Banking Stock Update - March 13, 2009 - Opening Stock Prices
Citigroup ( C ) - $1.90 Up 13.77% - Citigroup says no more capital needed from Government.
Bank of America ( BAC ) - $6.22 Up 6.32% - B of A's Lewis: Economic crisis 'far from over'
Financial Bull 3X ( FAS ) - $5.37 Up 6.34% - FAS is flying as the financial rip higher - FAZ continues to fall, $39, down from $110.
Fifth Third ( FITB ) and Huntington ( HBAN ) are also surging today.
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Citigroup C Stock 3/13/09 March 13, 2009
Citigroup ( C ) stock continues to fly today on more positive comments out of board member Richard Parsons.
Citigroup News - 3/13/09
Chairman Richard Parsons said Thursday that the bank does not need any more capital injections from the government and expressed confidence that Citi would remain in private hands. Asked in an interview with Reuters whether Citigroup needed additional government capital injections, Parsons said: "No, I think actually, particularly with the latest conversion... Citi is actually one of the better capitalized banks in the world.''
In other news, Citigroup is expected to name 4 new board members as early as next week.
Citigroup is preparing to nominate some four new members to its board, including former U.S. Bancorp chief executive Jerry Grundhofer, as soon as next week, according to the Wall Street Journal.
Citigroup ( C ) stock is trading up in pre market by 7.78% to 1.80 per share.
Citigroup will report earnings April 17, 2009
Technical Analysis: It is important to note that Citi is back above its 10 day moving average. Next major resistance is $2.00, and then about $2.55. Keep an eye on the 10 day moving average.
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Citigroup News - 3/13/09
Chairman Richard Parsons said Thursday that the bank does not need any more capital injections from the government and expressed confidence that Citi would remain in private hands. Asked in an interview with Reuters whether Citigroup needed additional government capital injections, Parsons said: "No, I think actually, particularly with the latest conversion... Citi is actually one of the better capitalized banks in the world.''
In other news, Citigroup is expected to name 4 new board members as early as next week.
Citigroup is preparing to nominate some four new members to its board, including former U.S. Bancorp chief executive Jerry Grundhofer, as soon as next week, according to the Wall Street Journal.
Citigroup ( C ) stock is trading up in pre market by 7.78% to 1.80 per share.
Citigroup will report earnings April 17, 2009
Technical Analysis: It is important to note that Citi is back above its 10 day moving average. Next major resistance is $2.00, and then about $2.55. Keep an eye on the 10 day moving average.
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Thursday, March 12, 2009
Bank Stocks 3/12/09 March 12, 2009 - Citigroup
Today, 3/12/09, the bank stocks are mixed as world markets fell big last night but economic data released this morning was positive. There is also hopes that today's mark to market meeting will suspend the rule.
Banking Stock Update - March 12, 2009 - Opening Stock Prices
Citigroup ( C ) - $1.54 Flat - Citigroup Executives Score $2.2 Million Betting on Own Stock
Bank of America ( BAC ) - $5.02 Up 1.83% - BofA now country’s biggest bank
Wells Fargo ( WFC ) - $12.00 Up 1%
General Electric ( GE ) - 8.90 Up 5% - Rating cut by AA+
Financial Bull 3X ( FAS ) - $4.02 Flat
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Banking Stock Update - March 12, 2009 - Opening Stock Prices
Citigroup ( C ) - $1.54 Flat - Citigroup Executives Score $2.2 Million Betting on Own Stock
Bank of America ( BAC ) - $5.02 Up 1.83% - BofA now country’s biggest bank
Wells Fargo ( WFC ) - $12.00 Up 1%
General Electric ( GE ) - 8.90 Up 5% - Rating cut by AA+
Financial Bull 3X ( FAS ) - $4.02 Flat
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Wednesday, March 11, 2009
Bank Stocks 3/11/09 March 11, 2009 - BAC
Today, 3/11/09, the bank stocks are higher after Citigroup's ( C ) CEO Vikram Pandit came out and said that Citi is profitable through February. The Stock Market rallied huge yesterday after this news!
Banking Stock Update - March 11, 2009 - Pre Market
Citigroup ( C ) - $1.57 Up 8.28% - In the letter sent Monday, CEO Vikram Pandit said Citi had an operating profit of $8.3 billion before taxes and special items through February. Pandit said the first-quarter performance so far has been the bank's best since the last time it recorded net income for a full quarter -- that was in the July-September period in 2007.
Bank of America ( BAC ) - $5.30 Up 5.65% - Bank of America continues to go higher on the citi news. Also, Jim Cramer was out on Mad Money stating that one of his technicians said BAC stock could go back into the teens.
Wells Fargo ( WFC ) - $12.47 Up 5.56% - WFC stock up another 5%, Warren Buffett loves this stock.
General Electric ( GE ) - 9.13 Up 3%
Financial Bull 3X ( FAS ) - $4.02 Up 7.77%
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Banking Stock Update - March 11, 2009 - Pre Market
Citigroup ( C ) - $1.57 Up 8.28% - In the letter sent Monday, CEO Vikram Pandit said Citi had an operating profit of $8.3 billion before taxes and special items through February. Pandit said the first-quarter performance so far has been the bank's best since the last time it recorded net income for a full quarter -- that was in the July-September period in 2007.
Bank of America ( BAC ) - $5.30 Up 5.65% - Bank of America continues to go higher on the citi news. Also, Jim Cramer was out on Mad Money stating that one of his technicians said BAC stock could go back into the teens.
Wells Fargo ( WFC ) - $12.47 Up 5.56% - WFC stock up another 5%, Warren Buffett loves this stock.
General Electric ( GE ) - 9.13 Up 3%
Financial Bull 3X ( FAS ) - $4.02 Up 7.77%
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Tuesday, March 10, 2009
Bank Stocks 3/10/09 March 10, 2009 - Citi
Today, 3/10/09, the bank stocks are higher as Citigroup's ( C ) CEO Vikram Pandit has come out and says that Citi is profitable through February. Citigroup Inc. has been operating at a profit through the first two months of the year, according to a letter that the bank's chief executive sent to employees. This news is stunning and is the type of news, if true, could really turn the stock market around quickly.
Banking Stock Update - March 10, 2009
Citigroup ( C ) - $1.17 Up 11.43% - In the letter sent Monday, CEO Vikram Pandit said Citi had an operating profit of $8.3 billion before taxes and special items through February. Pandit said the first-quarter performance so far has been the bank's best since the last time it recorded net income for a full quarter -- that was in the July-September period in 2007.
Barclays ( BCS ) - $3.92 Up 17.72% - Barclays upgraded to outperform at Credit Suisse
Financial Bull 3X ( FAS ) - $3.17 Up 17.41% - FAS up on the Citi news, FAZ tanking
Bank of America ( BAC ) - $4.22 Up 12.53% - BAC up on the Citigroup news
Wells Fargo ( WFC ) - $10.98 Up 11.12%
General Electric ( GE ) - $7.78 Up 4.99%
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Banking Stock Update - March 10, 2009
Citigroup ( C ) - $1.17 Up 11.43% - In the letter sent Monday, CEO Vikram Pandit said Citi had an operating profit of $8.3 billion before taxes and special items through February. Pandit said the first-quarter performance so far has been the bank's best since the last time it recorded net income for a full quarter -- that was in the July-September period in 2007.
Barclays ( BCS ) - $3.92 Up 17.72% - Barclays upgraded to outperform at Credit Suisse
Financial Bull 3X ( FAS ) - $3.17 Up 17.41% - FAS up on the Citi news, FAZ tanking
Bank of America ( BAC ) - $4.22 Up 12.53% - BAC up on the Citigroup news
Wells Fargo ( WFC ) - $10.98 Up 11.12%
General Electric ( GE ) - $7.78 Up 4.99%
Today's Biggest Stock Market Gainers - Top 2009 Stock Gainers - Top 2009 Penny Stocks - Baltic Dry Index
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