Nemont...Jose..What do You Guy's Think of This Deal?
- Thread starter BigHornRam
- Start date
JoseCuervo
New member
...with IIRsome slight body damage C.
That damn CarFax report..... Now I will never be able to sell that...
Citi down this morning in early trading. Looks like my daughter may have to be even more deprived with a 3-Series BMW instead of the 5-Series.
BigHornRam
Well-known member
PCL is up today Jose.........
JoseCuervo
New member
Not as much as SPWR is....
BigHornRam
Well-known member
So dump the SPWR and get her the 5-series Gordo.
JoseCuervo
New member
That is earmarked for a Vacation estate in McCall by the Lake......
BigHornRam
Well-known member
Uh Gordo, your 5 shares of SPWR might get you a good down on a nice plot by the Anaconda Stack, but the McCall realtors will not be impressed.
JoseCuervo
New member
Hey BigWhore,
YOu check out the quote on Citigroup today?
Maybe I will just come up and buy your neighbors on both sides and then play my Akon music loud.....
YOu check out the quote on Citigroup today?
Maybe I will just come up and buy your neighbors on both sides and then play my Akon music loud.....
BigHornRam
Well-known member
Good. That will give me more room to park my slightly used cars. Do you like Michael Savage.......LOUD?????
BigHornRam
Well-known member
Brutal!
CITIGROUP INC (NYSE:C)
Last Trade: 31.43
Trade Time: 2:40PM ET
Change: 1.80 (5.42%)
Prev Close: 33.23
Open: 33.93
Bid: N/A
Ask: N/A
1y Target Est: 41.27
Day's Range: 31.35 - 34.10
52wk Range: 29.60 - 57.00
Volume: 121,332,299
Avg Vol (3m): 72,733,100
Market Cap: 156.56B
P/E (ttm): 8.46
EPS (ttm): 3.72
Div & Yield: 2.16 (6.20%)
CITIGROUP INC (NYSE:C)
Last Trade: 31.43
Trade Time: 2:40PM ET
Change: 1.80 (5.42%)
Prev Close: 33.23
Open: 33.93
Bid: N/A
Ask: N/A
1y Target Est: 41.27
Day's Range: 31.35 - 34.10
52wk Range: 29.60 - 57.00
Volume: 121,332,299
Avg Vol (3m): 72,733,100
Market Cap: 156.56B
P/E (ttm): 8.46
EPS (ttm): 3.72
Div & Yield: 2.16 (6.20%)
JoseCuervo
New member
BigWhore,
Glad I sold at $33.20. Never a bad thing to take profits off the table.
I will buy back in tomorrow just so you have some thing to keep track of for me.
Oh, and by the way, could you get me a quote on SPWR, you remember, that Sunpower stock you thought was a bad investment?
LMAO....
Glad I sold at $33.20. Never a bad thing to take profits off the table.
I will buy back in tomorrow just so you have some thing to keep track of for me.
Oh, and by the way, could you get me a quote on SPWR, you remember, that Sunpower stock you thought was a bad investment?
LMAO....
BigHornRam
Well-known member
Sure you did. Show us your order. Down 3% more today. Ouch!
cjcj
New member
WHAT? Keep it rolling, cause you boys are playing for 2nd place, CJ wins.
Jose, I would avoid the Banking,Mortgage stocks if I were youhump ...You might want to look at some cheap land....
Jose, I would avoid the Banking,Mortgage stocks if I were youhump ...You might want to look at some cheap land....
BigHornRam
Well-known member
Holding or folding Jose?
Citi loses almost $10B, slashes dividend By MADLEN READ, AP Business Writer
20 minutes ago
NEW YORK - Citigroup Inc. lost almost $10 billion in last year's final three months, the largest quarterly deficit in the bank's 196-year history, and slashed its dividend as it recorded a mammoth write-down for bad bets on the mortgage industry.
The nation's largest bank wrote down the value of its portfolio by $18.1 billion. It also boosted loan-loss reserves by $4.1 billion, signaling further problems in its consumer businesses as deflated home prices, high energy and food costs, and rising unemployment weigh on people's ability to make their loan payments.
To cut expenses, it slashed 4,200 jobs in the fourth quarter in addition to the 17,000 layoffs announced in the spring, and chief financial officer Gary Crittenden said during a conference call that more job cuts would be on the way.
Chief Executive Vikram Pandit, who replaced Charles Prince in December, said the fourth-quarter results were "unacceptable", and that he was "not yet finished" in his review of whether any of the global bank's core operations need to be cut or sold.
To bolster its capital, the bank also said Tuesday it has lined up $12.5 billion in new investments from sovereign wealth funds and existing shareholders.
That includes $6.88 billion from the Government of Singapore Investment Corp. for a 4 percent stake. Other investors were Capital Research Global Investors, Capital World Investors, the Kuwait Investment Authority, the New Jersey Division of Investment, shareholder Prince Alwaleed bin Talal of Saudi Arabia and former chief executive Sanford Weill and his family foundation.
The $12.5 billion in fresh equity adds to the $7.5 billion that Citi got in November from the Abu Dhabi Investment Authority in exchange for a 4.9 percent stake in the company.
Citigroup's shares, which were trading around $55 a year ago, fell 56 cents to $28.50 in premarket trading on Tuesday.
The loss for the quarter totaled $9.83 billion, or $1.99 per share, compared with earnings of $5.13 billion, or $1.03 per share, during the same quarter a year earlier. Citigroup's revenue fell to $7.22 billion, down 70 percent from $23.83 billion in the final quarter of 2006.
Citigroup said the 41 percent cut in its quarterly dividend to 32 cents a share from 54 cents — along with the Asian investments and a stock offering of about $2 billion — will help boost its Tier 1 capital ratio, a measure of its financial strength.
Financial companies have been the highest dividend-paying sector in the stock market, but many — including Washington Mutual Inc., National City Corp. and the government-sponsored lenders Freddie Mac and Fannie Mae — have pared those payouts in recent months.
Citigroup's decision to cut its dividend and seek new cash from outside investors was widely anticipated on Wall Street after months of scrutiny over the bank's deteriorating operations. The biggest was Citigroup's bad bets on mortgage-backed bond instruments called collateralized debt obligations. It also was forced to bring $49 billion in hemorrhaging funds known as structured investment vehicles onto its books.
Over the past several weeks, Asian funds have been buying up the battered stocks of struggling U.S. banks. Early Tuesday, Merrill Lynch said it will receive a total of $6.6 billion from the Korean Investment Corp., Kuwait Investment Authority and Japan's Mizuho Corporate Bank — in addition to the $4.4 billion it has already gotten from Singapore's state-run Temasek Holdings.
Pandit said Citigroup would continue to sell off "non-core" assets. The bank has already sold shares in Redecard, a card business in Latin America, and an ownership interest in a unit of the Japanese brokerage Nikko Cordial it bought last year.
Citigroup's $18.1 billion writedown was significantly wider than the $6 billion writedown it took in the third quarter last year, and bigger than the $8 billion to $11 billion it guessed in October that it would take for the fourth quarter.
Citigroup said as of Dec. 31, it had a total of $37.3 billion in direct subprime mortgage exposure, down from $54.6 billion three months prior.
Citi loses almost $10B, slashes dividend By MADLEN READ, AP Business Writer
20 minutes ago
NEW YORK - Citigroup Inc. lost almost $10 billion in last year's final three months, the largest quarterly deficit in the bank's 196-year history, and slashed its dividend as it recorded a mammoth write-down for bad bets on the mortgage industry.
The nation's largest bank wrote down the value of its portfolio by $18.1 billion. It also boosted loan-loss reserves by $4.1 billion, signaling further problems in its consumer businesses as deflated home prices, high energy and food costs, and rising unemployment weigh on people's ability to make their loan payments.
To cut expenses, it slashed 4,200 jobs in the fourth quarter in addition to the 17,000 layoffs announced in the spring, and chief financial officer Gary Crittenden said during a conference call that more job cuts would be on the way.
Chief Executive Vikram Pandit, who replaced Charles Prince in December, said the fourth-quarter results were "unacceptable", and that he was "not yet finished" in his review of whether any of the global bank's core operations need to be cut or sold.
To bolster its capital, the bank also said Tuesday it has lined up $12.5 billion in new investments from sovereign wealth funds and existing shareholders.
That includes $6.88 billion from the Government of Singapore Investment Corp. for a 4 percent stake. Other investors were Capital Research Global Investors, Capital World Investors, the Kuwait Investment Authority, the New Jersey Division of Investment, shareholder Prince Alwaleed bin Talal of Saudi Arabia and former chief executive Sanford Weill and his family foundation.
The $12.5 billion in fresh equity adds to the $7.5 billion that Citi got in November from the Abu Dhabi Investment Authority in exchange for a 4.9 percent stake in the company.
Citigroup's shares, which were trading around $55 a year ago, fell 56 cents to $28.50 in premarket trading on Tuesday.
The loss for the quarter totaled $9.83 billion, or $1.99 per share, compared with earnings of $5.13 billion, or $1.03 per share, during the same quarter a year earlier. Citigroup's revenue fell to $7.22 billion, down 70 percent from $23.83 billion in the final quarter of 2006.
Citigroup said the 41 percent cut in its quarterly dividend to 32 cents a share from 54 cents — along with the Asian investments and a stock offering of about $2 billion — will help boost its Tier 1 capital ratio, a measure of its financial strength.
Financial companies have been the highest dividend-paying sector in the stock market, but many — including Washington Mutual Inc., National City Corp. and the government-sponsored lenders Freddie Mac and Fannie Mae — have pared those payouts in recent months.
Citigroup's decision to cut its dividend and seek new cash from outside investors was widely anticipated on Wall Street after months of scrutiny over the bank's deteriorating operations. The biggest was Citigroup's bad bets on mortgage-backed bond instruments called collateralized debt obligations. It also was forced to bring $49 billion in hemorrhaging funds known as structured investment vehicles onto its books.
Over the past several weeks, Asian funds have been buying up the battered stocks of struggling U.S. banks. Early Tuesday, Merrill Lynch said it will receive a total of $6.6 billion from the Korean Investment Corp., Kuwait Investment Authority and Japan's Mizuho Corporate Bank — in addition to the $4.4 billion it has already gotten from Singapore's state-run Temasek Holdings.
Pandit said Citigroup would continue to sell off "non-core" assets. The bank has already sold shares in Redecard, a card business in Latin America, and an ownership interest in a unit of the Japanese brokerage Nikko Cordial it bought last year.
Citigroup's $18.1 billion writedown was significantly wider than the $6 billion writedown it took in the third quarter last year, and bigger than the $8 billion to $11 billion it guessed in October that it would take for the fourth quarter.
Citigroup said as of Dec. 31, it had a total of $37.3 billion in direct subprime mortgage exposure, down from $54.6 billion three months prior.
guppie9
New member
Good thing you sold at $33, Jose, otherwise your daughter would be looking at a nice 83 Ford Escort instead of that Beemer!!!
noharleyyet
Well-known member
Given Citi's current financial situation, isn't it time to golden parachute upper management...again?
Chief Executive Vikram Pandit, who replaced Charles Prince in December, said the fourth-quarter results were "unacceptable", and that he was "not yet finished" in his review of whether any of the global bank's core operations need to be cut or sold.
...no chit.
Chief Executive Vikram Pandit, who replaced Charles Prince in December, said the fourth-quarter results were "unacceptable", and that he was "not yet finished" in his review of whether any of the global bank's core operations need to be cut or sold.
...no chit.
BigHornRam
Well-known member
Jose must be saying, "no mas, no mas" right now!
CITIGROUP INC (NYSE:C)
Last Trade: 26.95
Trade Time: 1:00PM ET
Change: 2.11 (7.26%)
Prev Close: 29.06
Open: 28.26
CITIGROUP INC (NYSE:C)
Last Trade: 26.95
Trade Time: 1:00PM ET
Change: 2.11 (7.26%)
Prev Close: 29.06
Open: 28.26
BigHornRam
Well-known member
Hope J. C. didn't forget to strap on the parachute before jumping............
CITIGROUP INC (NYSE:C)
Last Trade: 24.58
Trade Time: 9:34AM ET
Change: 0.38 (1.52%)
Prev Close: 24.96
Open: 24.53
CITIGROUP INC (NYSE:C)
Last Trade: 24.58
Trade Time: 9:34AM ET
Change: 0.38 (1.52%)
Prev Close: 24.96
Open: 24.53
