C cut @ oppenheimer sees .70 vs 2.90 consensus for 2008. Meredith Whitney strikes again. Sees 30% drop in C shares.
Whitney and colleague Kaimon Chung also cut their earnings estimates on large U.S. East Coast banks by an average of 29 percent for 2008 and 13 percent for 2009.
i would urge anyone considering a position in C to do so with the utmost vigilence. C is going into the teens in my opinion as further write downs as well as looming credit card losses mount. i daytrade but would never even think of investing in Citi at these levels. expect more pain from the whole sector.