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CIT Group Files Bankruptcy, Seeks to Cut $10 Billion in Debt
C
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+1.22%
in
2 days
(closed on 11/04/09)
Nov. 2 (Bloomberg) -- CIT Group Inc., the 101-year-old commercial lender that saw its funding dry up in the credit crunch, filed for bankruptcy in an effort to cut $10 billion in debt following a failed debt exchange and U.S. taxpayer bailout. CIT listed $71 billion in assets and $64.9 billion in liabilities in a Chapter 11 petition yesterday in U.S. Bankruptcy Court in Manhattan. The Treasury Department said the government probably won’t recover much, if any, of the $2.3 billion in taxpayer money that went to CIT.
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The Piggy Bank never looked this good
C
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-12.00%
in
26 days
Well shares of Citigroup are at a market low this morning in the wake of their weak Q3 report, but you can guarantee they will not stay that way for long. If you are looking for a good financial buy in , then this would be a good time to join the herd of vultures that are snatching these stocks up at bargain prices this morning. Currently city banks volum ticker is headed toward sixty million fast with a buy for almost every sell, and citigroup is holding at 4.62 a little below my previous estimate of 4.68 so get in quick if you want them. Happy stocking...
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Citigroup price drop means big gains for new buyers
C
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+0.00%
in
16 hours
(closed on 10/16/09)
<> Wow did Citigroup take a kick in the gut this quarter with their Q3 earnings report, but if there is one thing we count on, it's that this big boy of banking will not stay down for long. With a slowly falling price tag Citigroup can mean quick gains for bargain hunters looking to buy in. As soon as the initial stinging numbness of this quarters financial report wears off, this stock will be just as popular as it ever was. So if you have been waiting to hold a commodity in the financial sector and you can't afford the big price tag of a "JP More-gain" Then you can buy into this baby for a>...
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Citigroup takes one for the team
C
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-5.00%
in
8 hours
(closed on 10/15/09)
Although citigroup did its best to shovel off assets before the big game, it still took a meanial loss this quarters earnings report. Citigroup, Inc. (NYSE: C ) reports Q3 adj-loss of $0.27, versus the analyst <nobr> estimate </nobr> of ($0.38). Revenue for the quarter was $20.4 billion, which compares to the estimate of $20.04 billion. Q3 tier 1 ratio was 12.7% and tier 1 common ratio was 9.1%. Book <nobr> value </nobr> per share was $6.15. They took one for the team this quarter, but look soon for this banking giant to be making a comback.
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Citygroup financial report will probably be in the black.
C
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+0.00%
in
8 hours
(closed on 10/15/09)
WIth the recent sale of two of its major holdings and amid rising pressure by investors, Citybank should finally have a more sunny skies this quarter. <> Richard Bove, of Rochedale Securities, raised his price target on Citigroup Inc. (NYSE: C ) to $6.50 and said that Citigroup "has an attractive long-term future" and "will be funded by one of the most liquid balance sheets in banking." Just this week, Deutsche Bank started new coverage on the Citigroup with a Buy rating and $5.50 price target. They said while issues remain, investor focus will eventually shift to what <> >>...
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From the Blogosphere
Citigroup Luring Employees – Analyst Blog
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Citigroup Inc. (C) has allocated several million stock options this week to more than a quarter of its employees, encouraging them to remain with the company especially when their competitors are on a hiring spree.
Citigroup employees have witnessed massive erosion of their stock options as the bank’s share price plummeted to about $4 from about $56 a few years ago.
As an added incentive for its employees, Citigroup also said that it would grant one stock option at just above the current market price for each invested share employees had accumulated. If the share price rebounds and as it ha...
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Hampton Roads Bankshares: Strong Value in the Horrific World of Commercial Banks
Over the past few months, the market has climbed upwards relatively quickly, which has eliminated a lot of the deep bargains available. There are still some great deals out there and I’ve been fortunate enough to discover a few, but it’s become much more difficult to find stocks with the highly favorable risk-reward balances we saw earlier this year. <>One sector where I believe huge opportunities have opened up is small commercial banks. These are not the Banks of America (BAC), the Citigroups (C), or even large regional players like SunTrust (STI) and Regions Financial (RF). Rather>...
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What Is Inflation and How Does One Measure It?
To understand inflation, one must first understand what money is and how to measure it. Please read What is Money and How Does One Measure It? before attempting to understand what follows.
Unfortunately there is no general agreement as to the definition of inflation. Here are some of the widely used definitions as noted in Inflation: What the heck is it?
Commonly Used Definitions
<>Decline in purchasing power of the currency held Rising prices in general (essentially the same as #1 although some might disagree) Rising consumer prices (CPI)Rising producer prices (PPI) <>Rising prices due to expansion>>...
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Porsche vs. Crocs…
It’s Q season and footnoted regulars know what that means — lots of crazy things buried deep in the filings. Sonya, Kristen and myself spent much of the weekend in our waders working our way through all sorts of filings. Some of the biggest names — Berkshire Hathaway (BRK.A), Yahoo (YHOO), Bank of America (BAC) and Citigroup (C) were filed late Friday and we’ll be posting observations from those filings and others that come in later today over on subscription-only FootnotedPro. <>But this one we’re giving away: in the 10-Q that footnoted frequent flyer Crocs (CROX) filed last week, t>...
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DJIA Market Wrap 8 November
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 The 60-minute trend is positive according to the force index indicator. %b has printed a slightly negative divergence. On Monday morning prices will open up on a gap that will test previous high. The Dow is also doing much better than the Nasdaq in this phase. Most of the stocks are moving above their 20-day moving averages and the trend is very good in the longer term moving averages. HPQ, MCD, PG printed new 20-day highs. MCD has printed 5 and IBM has printed 4 consecutive up closes. I remain negative on the market and will need to assess how high this move will continue. I am opening s...
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No Bank Too Big to Fail!
- As the government continues to pump the economy with stimulus money, it also continues to push for financial reform from the FDIC angle...
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aductan
(+10.28% risk: conservative)
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Value Investing
- I’m really into value investing these days. I found some great picks at http://www.hiddenvaluesalert.com/index.aspx?page=ECapture&r=GSP_Boards3
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