Filed under: Earnings reports , Analyst reports , Analyst upgrades and downgrades , Forecasts , Citigroup Inc. (C)
With all of the problems at Citigroup (NYSE: C ), it would seem improbable that the shares would make a big run. The company still has no CEO, and Moody’s has just written down more of the assets in structured investment vehicles attached to the big bank. Wall Street does not know how big the Citi write-offs will be for the fourth quarter, but they are likely to be staggering.
Thomson shows that the current consensus recommendation of 19 analysts who follow the Citigroup is 2.53 on a buy/sell scale of 1 to 5. That seems pretty high for a bank that is in so much trouble.
The price targets on the bank also appear lofty. The median target price is $43 against a current share price of $33.30. Analysts have looked unrealistic before, and they will again. There is little reason to think Citi is heading to above $40 anytime soon, even if the...
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Filed under: Market matters , Citigroup Inc. (C) , Bank of America (BAC) , Cramer on BloggingStocks , Financial Crisis , MetLife Inc. (MET)
From TheStreet.com Network
Goldman Brass Forgo Bonuses
Paulson, Bernanke Face Grilling Over Bailout
TheStreet.com’s Jim Cramer says the action in some of the banks and insurers is sickening. They’ve gotten to the fortress banks. They have crushed everything financial because the word is out: No more bo... more
NEW YORK (Reuters) - Stocks fell on Monday on concerns of an accelerating global slowdown after Japan’s surprise news it had fallen into recession and Citigroup Inc, the No. 2 U.S. bank, said it would cut 52,000 jobs, far more than had been expected.
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NEW YORK (Reuters) - Stocks fell on Monday on concerns of an accelerating global slowdown after Japan’s surprise news it had fallen into recession and Citigroup Inc, the No. 2 U.S. bank, said it would cut 52,000 jobs, far more than had been expected.
Cliccare qui per leggere l’intero articolo ... more
Filed under: Newcastle Investment (NCT) , Raytheon Company (RTN)
The holiday season is upon us and that translates to shopping season. Generally speaking, I hate shopping and refrain from getting anywhere near a shopping mall or mingling with all the shop-o-holics. However, shopping for stocks is different and it is always the season for that.
Finding the best stock values for next year would be a great gift for everyone that is paying attention to my ramblings, that is, ... more
Filed under: Motorola (MOT)
Even though his efforts to get on Motorola, Inc. (NYSE: MOT ) board of directors came up short, Carl Icahn has been vindicated, in a way. The stock has continued to lag but today, Ed Zander, the target of much of Icahn’s vitriol has stepped down as CEO of the company.
Never one to miss an opportunity to dance on an enemy of shareholder value’s grave, Icahn put out a press release applauding the move:
“I believe that th... more
Filed under: After the bell , Good news , Middle East , Citigroup Inc. (C) , Wachovia Corp (WB) , Technical Analysis , Economic data , Wells Fargo (WFC) , Commodities , Oil , DJIA , Housing , Federal Reserve
True, no one on the trading floor of the New York Stock Exchange Friday yelled, “It’s a return to the ‘Roaring 90s,’ “ but given the way the U.S. economy and the stock market have gone in 2007, it’s a start.
Th... more
Filed under: Television , Scandals
Game of Shadows, the controversial bestseller that brought to light detailed allegations of home run king Barry Bonds’ involvement with illegal performance-enhancing drugs, is being made into a movie by HBO.
Just when Barry Bonds, who recently indicted by a grand jury, thought the negative publicity couldn’t get any worse: a made-for-TV movie.
According to the New York Times “Much of the book was based on secret grand jury testimo... more
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