Citigroup posts $9.83 billion quarterly loss
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Citigroup Inc on Tuesday posted its first quarterly loss since its creation in 1998, hurt by write-downs for exposure to subprime mortgages and other risky debt.
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Quarterly losses narrowed to $59 million, or 16 cents per share, from $139 million, or 43 cents per share, a year ago. Excluding about $63 million in restructuring, transformation and integration costs, the
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Citigroup Inc , Merrill Lynch & Co  and JPMorgan Chase & Co  may face larger fourth-quarter debt write-offs than previously expected, and Citigroup may have to slash its dividend 40 percent to preserve capital, according to a Goldman Sachs & Co analyst.
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Citigroup Inc. shares on Monday suffered their biggest one-day percentage decline in 18 months after a prominent Wall Street analyst downgraded the world&#39;s largest
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The FTSE 100 closed sharply lower Tuesday -- its lowest level for over a year -- as a 9.8 billion dollars Q4 loss from Citigroup and weaker than expected retail sales sent the Dow into an early three-figure dive, with retailers back in the spotlight after Christmas trading updates from Tesco and Debenhams.
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Citigroup Inc , Merrill Lynch &  Co  and JPMorgan Chase & Co  may face larger  fourth-quarter write-offs of fixed-income securities than  previously expected, and Citigroup may have to slash its  dividend 40 percent to preserve capital, according to a Goldman  Sachs & Co analyst.
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Capital One Financial Corp,  a credit card issuer and banking company, posted a third quarter net loss, hurt by charges from shutting down its GreenPoint Mortgage business.
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CIT Group Inc. , a consumer and commercial finance company, posted a second-quarter loss on Wednesday and cut its earnings forecast for the rest of the year as it exits home lending.
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Citigroup wrote off a colossal $18.1 billion on Tuesday and secured new capital as Merrill Lynch, also seen heading for big losses due to the U.S. subprime mortgage meltdown, announced a $6.6 billion shot in the arm.
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Stock index futures fell on Tuesday, suggesting a lower start for Wall Street, after Citigroup Inc  reported a wider-than-expected quarterly loss.
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Citigroup Inc. shares fell more than 2 percent early Monday, after Merrill Lynch analyst Guy Moszkowski cut his stock rating to &quot;neutral&quot; from &quot;buy,&quot; citing recent ethics problems.
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Citigroup Inc is likely to announce on Tuesday a significant dividend cut, at least $10 billion of new capital and a writedown of as much of $20 billion, the Wall Street Journal reported on Monday.
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Washington Mutual Inc , the largest U.S. savings and loan, posted a $1.87 billion fourth-quarter loss on Thursday, its first quarterly loss in more than a decade, battered by mortgage defaults and write-downs.
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At first blush, CNBC's report that Citigroup could announce up to $24 billion in write-downs Tuesday because of credit-related losses sounds like disastrous news. That figure is much higher than what sell-side analysts were expecting, and more than twice the high end of Citi's previous estimate in early November, which put the losses at $8 [...].
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NEW YORK -- Citigroup Inc., the biggest U.S. bank, said Friday its second-quarter profit rose 18 percent after pulling in record revenues, driven largely by strength in overseas operations.
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Citigroup Inc  has barred investors in one of its hedge funds from withdrawing their money, and a new leveraged fund lost 52 percent in its first three months, the Wall Street Journal reported on Friday.
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Citigroup Inc  awarded Chief Executive Vikram Pandit $26.7 million of shares and 3 million stock options, six weeks after he took over the largest U.S. bank, and a week after reporting a record $9.83 billion quarterly loss.