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Ticker Symbol: C

Citigroup News - Upcoming

Citigroup is actively engaged in potential merger talks with Morgan Stanley to combine brokerage units. Morgan Stanley would most likely assume a majority ownership stake in the joint venture. Citi reports Q4 earnings on January 22nd.

Citigroup News - Past

January 12, 2009

Robert Rubin will end his tenure at Citigroup when his term as director runs out in April. Rubin, former Treasury Secretary under President Clinton, was prominently involved in expanding Citi's scope by transforming the former Travelers/Citibank conglomerate into the ?financial supermarket? clutter that operates today. Rubin was also heavily involved in the decision to expose Citigroup to risky asset backed securities that have sunk the financial sector.

November 20, 2008

Over the first 3 days of the week ended November 21st, Citi lost a third of its market cap, largely due to reports the New York bank will purchase the final $17.4 billion of its SIV assets. Just a few years ago, Citigroup was the largest company on the planet in terms of market cap, is now just the 5th largest U.S. bank. Analysts are weighing in with revised Q4 loss estimates for Citi. On Thursday, the Wall Street journal reported Fox-Pitt, Kelton analyst David Trone was amongst analysts revising up Citi's projecting Q4 loss. Shares of Citi dipped 20% on Thursday despite Saudi Prince Alwaleed upping his stake to 5% from 4%.

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