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Citi results weighed down by failed loans

Boston : MA : USA | about 1 month ago  
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Banks including Citigroup had warned when second-quarter earnings were released that loan losses would continue into next year. Investors nonetheless reacted negatively to the bank's report of continuing heavy loan losses, and sent Citigroup shares down 27 cents, or 5.4 percent, to $4.73 in midday...
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  • News Source: Channel NewsAsia | about 1 month ago
    Bank of America on Friday announced a steeper-than-expected net loss of 1.0 billion dollars in the third quarter, linked to hefty writedowns of assets from Merrill Lynch and other charges. The total loss for shareholders was even larger, at 2.24...
  • News Source: Turks and Caicos Free Press | about 1 month ago
    Bank of America Corp ( BAC .N) posted its second quarterly loss in less than a year as it suffered from consumer credit losses. The nation's largest bank reported a net loss of $1 billion, or 26 cents per share, for third quarter, compared with net...
  • News Source: The Economic Times | about 1 month ago
    Citigroup, the lender 34% owned by the US government, posted a $101 million profit, defying expectations for a loss, as the company added the smallest amount to loan-loss reserves in two years. The third-quarter profit compared with a loss of $2.82...
  • News Source: Simi Valley - Moorpark Examiner | about 1 month ago
    Banks including Citigroup had warned when second-quarter earnings were released that loan losses would continue into next year. Investors nonetheless reacted negatively to the bank's report of continuing heavy loan losses, and sent Citigroup shares...
  • News Source: Fox News | about 1 month ago
    Chief Executive Vikram Pandit during the firm's third-quarter conference call Thursday said Citi's credit costs "remain elevated and clearly U.S. consumer credit remains the No...Pandit said net credit losses declined for the first time since the...
  • News Source: Androscoggin News | about 1 month ago
    Schwab shares fell almost 5% after the online financial services firm said Thursday that its third-quarter profit fell 34% even as clients continued to put more money to work with the online financial-services provider. "We have seen the fear that...
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  • Blog Source: www.financialspy.co.uk
    NEW YORK — U.S. financial stocks pulled back on Thursday as a pair of earnings reports from Charles Schwab and Citigroup showed consumers still burdened by the financial crisis. Schwab shares fell a… See the original post: ...
  • Blog Source: www.mydigitalfc.com
    Citigroup, which has posted more than $100 billion of writedowns and consumer credit losses since the credit crisis began, posted a third-quarter net loss to shareholders of $3.2 billion, or 27 cents a share, compared with a loss of ...
  • Blog Source: gubmintcheese.com
    Financial Stocks Pull Back, Schwab, Citi Weigh. ... Financial Stocks Pull Back, Schwab, Citi Weigh. Financial Stocks Pull Back, Schwab, Citi Weigh. Posted in Uncategorized. By admin. October 15, 2009 ...
  • Blog Source: www.usposttoday.com
    After pulling off two consecutive quarterly profits, Citigroup posted a loss in the third quarter as spiraling consumer losses overwhelmed its strong trading results. The banking giant said that it had a loss to stockholders of 27 cents a share or $3.
  • Blog Source: www.thedeal.com
    Citi Holdings had a $1.9 billion quarterly loss due to credit card losses and consumer loans. The unit contains toxic assets that are up for sale. The divestitures impacted operating expenses, which were slightly down at $11.8 ... The bank is
  • Blog Source: pantaigading.com
    Stock slide after Goldman Sachs, Citigroup earnings disappoint a day after Dow tops 10000. Stocks open lower after Goldman, Citi earnings. NEW YORK — Investors turned cautious Thursday after earnings reports from Goldman Sachs Group Inc. ...
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