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(CHARTPOPPERS.COM, December 18, 2009 ) Point Roberts, WA - Chartpoppers.com announces an investment report featuring company Citigroup Inc. (NYSE: C)
The Consolidated Investment Analysis on Citigroup Inc. (NYSE: C) will be in particular interest to other competing companys within in its sector, such as Bank of America (NYSE: BAC), JP Morgan Chase ( NYSE: JPM) and Ameican International Group (NYSE: AIG)
Citigroup Inc. (Citigroup), incorporated in 1988, is a global diversified financial services holding company. The Company is engaged in providing a range of financial services to consumers and corporate customers. As of May 4, 2009, Citigroup had more than 200 million customer accounts and did business in more than 140 countries.
Recent News on Citigroup Inc. (NYSE: C)
Citigroup's surprisingly low pricing of a stock offer this week provides a clear sign that investors are still nervous about the banking giant's ability to regain its financial health.
On Wednesday, Citigroup Inc. said it would sell 5.4 billion shares of stock at a price of $3.15 per share to help repay $20 billion in government bailout loans. That price was 9 percent below where shares were trading before the announcement.
"The market is not buying the Citi story right now," said Alois Pirker, a research director at financial consultancy Aite Group.
The U.S. government also balked at the deal, stepping away from selling a portion of its nearly 34 percent stake in Citigroup.
Citigroup shares tumbled 24 cents, or 7 percent, to $3.21 Thursday afternoon. They fell as low as $3.13 earlier in the day.
Analysts say Citi, which managed the underwriting of the offer itself, didn't have much of a choice but to take the hit of selling at such a low price because of uncertainty surrounding the bank.
New York-based Citi still must demonstrate it can maintain profitability for an extended period of time.
Citigroup has been among the hardest hit banks by the credit crisis. It earned $101 million during the third quarter before accounting for preferred stock dividends and the debt exchange that gave the government a stake in the bank. Including those items, Citi lost $3.24 billion.
The bank has to deal with loan losses that continue to pile up. It set aside $8 billion during the third quarter to cover loan losses.
Citi must also find buyers for some of the risky investments that got it into this predicament in the first place -- Citi separated its risky assets into a separate division earlier in the year.
To view the Consolidated Investment Analysis on Citigroup Inc. (NYSE: C) Please visit the stock pulse page at www.chartpoppers.com/stock%20pulse/
In the report chartpoppers.com covers a recent Financial Summary, Analyst Consensus, Technical Analysis, Comparative Analysis and Insider Trading Activity.
The full report is available at www.chartpoppers.com
Chartpoppers.com is a market research and investment commentary provider. Chartpoppers.com aims to bring undervalued, up and coming companies into the sight of both experienced and non-experienced investors. Our diligent effort is to help investors, at whatever stage in their careers, to get a grasp on the necessary financial data that they need in order to make a educated investment decision. From our daily trading ideas and penny picks to a in depth coverage of whatÂ’s going on in the markets, we are sure that chartpoppers.com is exactly what you need in order succeed.
For More information please visit us at www.chartpoppers.com/about/
Chartpoppers.com Disclosure
DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS REPORT. We are not registered as a securities broker-dealer or an investment adviser either with the U.S. Securities and Exchange Commission (the "SEC") or with any state securities regulatory authority. We are neither licensed nor qualified to provide investment advice. ChartPoppers.com nor its affiliates have a beneficial interest in the mentioned company; nor have they received compensation of any kind for any of the companies listed in this communication. The information contained in our report is not an offer to buy or sell securities. We distribute opinions, comments and information free of charge exclusively to individuals who wish to receive them.
CHARTPOPPERS.COM
Paul Marek
6047245332
info@chartpoppers.com
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