Citi Profit?

2009-03-10 10:50:38

#1

Kmar: Truth is my Bitch; +5,695|6904|132 and Bush

GTFOuta here

Dow jumps more than 300 as Citi announces profit

In a letter sent to employees Monday, Citi Chief Executive Vikram Pandit said the first-quarter performance so far has been the bank's best since the third quarter of 2007 — the last time it recorded net income for a full period. Based on historical revenue and expense rates, Citi's projected earnings before taxes and one-time charges would be about $8.3 billion for the full quarter.

Citi shares jumped nearly 40 percent while Bank of America Corp. was up more than 26 percent; both are Dow components and helped propel the average higher. Other banking stocks also rose sharply.

We have a very long way to go of course, but still the best news I've heard in a long time.

Xbone Stormsurgezz

2009-03-10 10:55:34

#2

Mitch: 16 more years; +877|6828|South Florida

God damnit why didnt i buy those shares!!!!!!!!!

Oh yeah cause i've bever bought any shares in the stock market nor do i know how to 8)

15 more years! 15 more years!

2009-03-10 10:57:08

#3

Agent_Dung_Bomb: Member; +302|7039|Salt Lake City

Now they just have to sustain it. I have to wonder how much of this is due to the massive increases they applied to credit card APRs, and whether people can maintain their payments with jobless rates climbing and wages falling as people lose commissions and work less hours.

2009-03-10 10:59:28

#4

OrangeHound: Busy doing highfalutin adminy stuff ...; +1,335|6952|Washington DC

That 8.3 billion quarterly profit is singly due to the fact that the executives of Citibank couldn't take their normal bonuses.

Most of the downturn is due to a few economic problems and a ton of negative news coverage. Stocks can't dip 1 point without "the sky is falling" from the media. But, yeah, negative news and fear command our attention.

2009-03-10 11:03:44

#5

KEN-JENNINGS: I am all that is MOD!; +2,983|6935|949

I will pick up a little BAC if it keeps around $5 this week. I don't foresee another major dip in the stock market (at least to financial institutitons) in the foreseeable future. Still a little wary about AIG though, because I see that as a wildcard that could affect the market.

2009-03-10 11:06:39

#6

ATG: Banned; +5,233|6832|Global Command

This makes me happy.

Beings as my phone is still not ringing for new business, I am taking the rest of the day off, will ride my motercycle to the mountain resorts around Mount Baldy and suck up some fresh air.

2009-03-10 11:13:33

#7

Kmar: Truth is my Bitch; +5,695|6904|132 and Bush

OrangeHound wrote:
Most of the downturn is due to a few economic problems and a ton of negative news coverage. Stocks can't dip 1 point without "the sky is falling" from the media. But, yeah, negative news and fear command our attention.

Someone will get on the tele and say they lost their ATM pin number and today will end up a wash .

Xbone Stormsurgezz

2009-03-10 13:05:55

#8

Kmar: Truth is my Bitch; +5,695|6904|132 and Bush

+379.44 *tear

Xbone Stormsurgezz

2009-03-10 13:16:37

#9

mtb0minime: minimember; +2,418|6957

Mitch wrote:
God damnit why didnt i buy those shares!!!!!!!!!

Oh yeah cause i've bever bought any shares in the stock market nor do i know how to 8)

Same

Let's just hope this good news keeps up. Plus it's a nice morale boost

Last edited by mtb0minime (2009-03-10 13:17:05)

2009-03-10 17:51:13

#10

Harmor: Error_Name_Not_Found; +605|6851|San Diego, CA, USA

Its Obama's fault...oh wait :-P

2009-03-10 18:11:22

#11

ATG: Banned; +5,233|6832|Global Command

Eh fuck 'em.

The " investors " seem to be a bunch of drama queens. This shook their confidence, that sent them selling. I think they ought to all have a big glass of shut the fuck up. They are a bunch of vultures and the media needs to spend less time talking about wallstreet woes.

2009-03-10 18:27:57

#12

FatherTed: xD; +3,936|6803|so randum

http://news.bbc.co.uk/1/hi/business/7935533.stm

It's affected more than just citi

Small hourglass island
Always raining and foggy
Use an umbrella

2009-03-10 18:28:48

#13

Kmar: Truth is my Bitch; +5,695|6904|132 and Bush

ATG wrote:
The " investors " seem to be a bunch of drama queens. This shook their confidence, that sent them selling. I think they ought to all have a big glass of shut the fuck up.

Quote of the day March 10 2009.

Xbone Stormsurgezz

2009-03-12 18:19:21

#14

Kmar: Truth is my Bitch; +5,695|6904|132 and Bush

CITI SHOCKER: KEEP THE MONEY
via Drudge

Citi doesn't need more government capital: Parsons

Xbone Stormsurgezz

2009-03-16 10:25:27

#15

Poseidon: Fudgepack DeQueef; +3,253|6840|Long Island, New York

Looks like the rally's extending into this week...always a good thing.

BF2S Forums Citi Profit?

OrangeHound wrote:

Mitch wrote:

ATG wrote:

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