Discussion in 'Stocks' started by MrDODGE, Apr 16, 2009.
Of the two, which misses earnings and causes the market to fall 400 points tomorrow?
both will miss
the market will skyrocket
c will beat, ge will miss
market will be sideways till 2 digesting the news, and then rocket downwards
Buy strangles and enjoy the volatility breakout...
Citigroup Q1 loss 18c-share; adjusted profit totaled $1.6B
C the New York financial-services giant, reported a first-quarter loss available to common-share holders of 18 cents a share. The loss "reflected the reset in January 2009 of the conversion price of the $12.5 billion convertible preferred-stock issued in a private offering in January 2008," Citi reported. The reset cut profit available to common-share holders by 24 cents a share. Analysts polled by Thomson Reuters had expected the bank to post a loss of 32 cents a share for the first quarter. Net income for the quarter was $1.6 billion. Revenue nearly doubled to $24.8 billion. "Credit costs of $10.3 billion, up 76%, consisted of $7.3 billion in net credit losses, a $2.7 billion net loan loss reserve build, and $332 million of policyholder benefits and claims," Citi said in a statement. The net interest margin widened half a percentage point from a year earlier, to 3.30%. Citi said it pared 13,000 jobs since the fourth quarter, leaving it with 309,000 workers.
GE passed stress test
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