Friday, January 20, 2006

Citigroups profits rose, but their stock fell. This is the opposite of Generel Electric. Although profits climbed, they still fell short of wallstreet expectations, causing the Citigroup stock to fall. Citigroup is the largest financial company in the United States.

"Citigroup shares fell 93 cents, or nearly 2 percent, to $47.01 in early trading on the New York Stock Exchange.
The company said net income totaled $6.93 billion, or $1.37 per share, in the October-December period, up from $5.32 billion, or $1.02 a share, a year earlier.
Excluding the $2.1 billion gain on the sale of its asset management business, however, net income fell about 3 percent from the year-earlier quarter to $4.97 billion and earnings per share were flat at 98 cents."

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