Citigroup – News Stories About Citigroup - Page 7

MARKETS

Apr 21, 2009 3:25 PM CDT

Dow Up 128 on Geithner Talk

Banks rally after comments by Treasury secretary, Bank CEOs

(Newser) - Stocks gained today on upbeat comments from Timothy Geithner and the CEOs of Citigroup and US Bancorp, the Wall Street Journal reports. Banks rallied after the Treasury secretary said that the “vast majority” have sufficient capital. The Dow closed up 127.83 at 7,969.56. The Nasdaq rose...

Banks Push Dow Down 290,
Below 8,000

MARKETS

Apr 20, 2009 3:25 PM CDT

Banks Push Dow Down 290, Below 8,000

Dow falls 289 on financial uncertainty

(Newser) - Stocks saw deep declines today as uneasiness over banking spilled into the broader market, the Wall Street Journal reports. Bank of America slid 22% on word of growing losses in its credit-card unit. Goldman Sachs, Citigroup and JPMorgan Chase also fell on reports of a Treasury move that may dilute...

US May Avoid More Bailouts by Trading Loans for Equity

Apr 20, 2009 8:54 AM CDT

US May Avoid More Bailouts by Trading Loans for Equity

Conversion could stretch bailout fund by $100 billion

(Newser) - President Obama’s economic team has figured a way to keep the banks afloat without asking Congress for more money, by converting the government's existing bailout loans to common stock, the New York Times reports. The conversion plan could stretch Treasury’s fund by more than $100 billion, but it...

Stocks Stall
on Earnings;
Dow Climbs 6

MARKETS

Apr 17, 2009 3:25 PM CDT

Stocks Stall on Earnings; Dow Climbs 6

But extend winning streak to 6th week

(Newser) - Stocks gave up afternoon gains to close higher by single digits as a week of first-quarter earnings reports failed to spark a selloff or surge, the Wall Street Journal reports. Google’s stock barely moved after the company reported slowing sales growth. GE and Citigroup earnings beat estimates, but GE...

Stocks Mixed After
Citi's Good News

MARKET Open

Apr 17, 2009 8:41 AM CDT

Stocks Mixed After Citi's Good News

(Newser) - Better-than-expected earnings from GE and Citigroup barely produced a ripple in the broader market this morning, the Wall Street Journal reports. Stocks were mixed, with the Dow inching up 33 points, the Nasdaq slipping 6.42 points, and the S&P flat. Citi got a 9.5% boost off its...

Bailed-Out Banks Don't
Want to Bail Out Chrysler

Apr 17, 2009 7:44 AM CDT

Bailed-Out Banks Don't Want to Bail Out Chrysler

Lawmakers say rescued banks should cooperate in auto rescue plan

(Newser) - Auto task force Steven Rattner's request that four big banks write off their $7 billion debt to Chrysler in return for nothing met with a big no from dropped jaws, reports the Washington Post. JPMorgan Chase, Morgan Stanley, Citigroup, and Goldman Sachs are seeking a better deal, but critics argue...

Citi Swings to Surprise
$1.6B Profit—1st in 18 Months

Apr 17, 2009 6:45 AM CDT

Citi Swings to Surprise $1.6B Profit—1st in 18 Months

(Newser) - Citigroup posted its first profitable quarter in 18 months today, thanks in no small part to $45 billion in bailout funds and changes to accounting rules, Bloomberg reports. The company posted a $1.6 billion profit, up from a $5.1 billion loss last year. The company reported a loss...

Banks Rally, But Dow Falls 26

MARKETS

Apr 13, 2009 3:19 PM CDT

Banks Rally, But Dow Falls 26

(Newser) - More bankruptcy rumblings from General Motors sent stocks down early today, but the blow was cushioned by good news from the financial sector, the Wall Street Journal reports. Citi and Bank of America had double-digit gains ahead of what are expected to be solid earnings reports. The Dow finished down...

Fee Hikes at Bailed-Out Banks Spur Investigation

Apr 13, 2009 7:08 AM CDT

Fee Hikes at Bailed-Out Banks Spur Investigation

Interest rates as high as 30% raise questions about program's effectiveness

(Newser) - Congressional overseers of the TARP program are investigating the lending practices of several of the banks they bailed out in response to complaints that the banks are raising interest rates and fees, the Wall Street Journal reports. Despite receiving billions in taxpayer dollars, Bank of America last week nearly doubled...

Brain Drain Wallops Wall Street

Apr 12, 2009 3:16 PM CDT

Brain Drain Wallops Wall Street

It's not just the firings: others are leaving for safer jobs

(Newser) - The financial crisis is reshaping not just the landscape of Wall Street, but its face as well, reports the New York Times in a look at the hemorrhaging of the Street's top talent. Layoffs aside, finance's best and brightest—arguably the same daring risk-takers responsible for the recession—are seizing...

Stocks Slide Ahead of Earnings

MARKET Open

Apr 6, 2009 8:57 AM CDT

Stocks Slide Ahead of Earnings

(Newser) - Stocks turned south this morning, as a series of downgrades and bad news for the Sun/IBM deal spooked investors ahead of earnings season, the Wall Street Journal reports. The Dow dropped 92, the S&P 12. Financials sank after a veteran analyst downgraded 11 major US banks. The Nasdaq fell...

Dow Down 148, Up for Week

MARKETS

Mar 27, 2009 3:22 PM CDT

Dow Down 148, Up for Week

Indices manage to hold on to weekly gains despite Friday dip

(Newser) - Stocks fell today, though not enough to offset broad-based weekly gains, the Wall Street Journal reports. Financials dropped, in part due to comments by JP Morgan Chase CEO James Dimon, who said the bank had more trouble in March than in the first 2 months of the year. JP Morgan...

Obama Will Meet
With Top Bank Execs

Mar 25, 2009 11:33 AM CDT

Obama Will Meet With Top Bank Execs

(Newser) - Amid growing dissatisfaction with government restrictions on bailout funds, President Obama will meet with bank CEOs on Friday, Reuters reports. Several banks have indicated that they will repay their TARP loans to avoid new government rules. In the meeting with execs from Citigroup, Goldman Sachs and others, Obama will urge...

Dow Rockets Nearly 500 Points

MARKETS

Mar 23, 2009 3:18 PM CDT

Dow Rockets Nearly 500 Points

Geithner's plan wins positive reviews from Street

(Newser) - Stocks locked in big gains today with the rally sparked by the rollout of the Treasury’s financial rescue plan, the Wall Street Journal reports. Financials led advances, with Citigroup and Bank of America up 24% and 19%, respectively. The Dow jumped 497.48 to 7,775.86. The Nasdaq...

Stocks Soar 300+
on Geithner Plan

UPDATED

Mar 23, 2009 8:51 AM CDT

Stocks Soar 300+ on Geithner Plan

(Newser) - Stocks sprinted out of the gates today, the Wall Street Journal reports, spurred by the Treasury’s long-awaited toxic asset plan. The Dow was up 316 just after noon, while the Nasdaq and S&P 500 added 4.1% and 4.5%, respectively. Banking stocks were the biggest winners, with...

Tech Rallies; Dow Climbs 179

MARKETS

Mar 17, 2009 3:19 PM CDT

Tech Rallies; Dow Climbs 179

(Newser) - Stocks made gains today, with the financial and tech sectors pacing advances, the Wall Street Journal reports. Google and Research in Motion both gained at least 4%, with Citigroup and US Bancorp posting similar rises. The S&P 500’s financial sector gained 6.57%, and the index overall rose...

Wall St. Looks to Skirt Bonus Limits With Padded Salaries

Mar 17, 2009 8:14 AM CDT

Wall St. Looks to Skirt Bonus Limits With Padded Salaries

Attempt to skirt new rules could anger shareholders

(Newser) - In a move to skirt government restrictions on executive pay for recipients of bailout cash, some Wall Street companies are discussing raising base salaries, the Journal reports. Citigroup and Morgan Stanley are considering the idea, which is gaining currency as regulators keep a watchful eye on bonuses, say industry insiders....

Gains Fizzle; Dow Down 7

MARKETS

Mar 16, 2009 3:16 PM CDT

Gains Fizzle; Dow Down 7

Tech leads declines, Dow falls from triple-digit gain

(Newser) - Stocks swung back to losses as optimism from last week’s rally faded today, the Wall Street Journal reports. Investors treated last week’s announcements that many troubled financial institutions ran operating profits in the first two months of 2009—ignoring “toxic securities” on their balance sheets—with skepticism....

Dow Up 4 as Stocks Waver

MARKETS

Mar 11, 2009 3:12 PM CDT

Dow Up 4 as Stocks Waver

Caution follows yesterday's rally

(Newser) - Stocks finished below today’s session highs but closed with slight gains, barely making the first two-day winning streak in a month, the Wall Street Journal reports. Financials mostly gained, with shares of Citigroup, Morgan Stanley and Bank of America up at least 4%. The Dow closed up 3.91...

Stocks Lose Momentum

MARKET Open

Mar 11, 2009 8:49 AM CDT

Stocks Lose Momentum

(Newser) - Stocks fell ever so slightly at today's open, defying futures that had shown yesterday’s big rally continuing. The Dow inched down 20 points, while the S&P and Nasdaq were essentially flat. But financials were still moving and shaking, with Citigroup adding 13% and Bank of America up 5%,...