Stocks woke up Friday following news that President-Elect Barack Obama is expected to announce two key cabinet posts.
With speculation mounting over Citigroup's future, investment pros are worried that the stock market is not nearing a bottom—but is ready to fall further.
Back when things made sense in the stock market, a company announcing layoffs would be greeted as a positive sign that it was shoring up its bottom line.
Chaos reigns Friday: Lame-duck White House and Congress are unable to reach a decision on the financial crisis. Yet Citigroup stock inched up, despite misgivings over the CEO's determination not to break up the firm. And while legislators dither over the jet-setting Big 3 automakers' fates, one strategist told CNBC that Ford Motor stock could yet quadruple overnight. (You read that correctly.)
Stocks bounced back Friday after a two-day selloff that saw major indexes crash through support levels and shaved 872 points off the Dow.
Banks are anathema to stock-market investors now, but Peter Sorrentino of Huntington Asset Advisors says that will change — probably around the middle of next year.
As the nation's largest bank continue to stand on shaky ground, it is the company's shareholders that bear the biggest risk, Pimco's Mohammed El-Erian said.
Citigroup CEO Vikrum Pandit said Friday that he would like to keep the company together and does not wish to spin off its Smith Barney brokerage.
Events move much faster than individual corporations, unions, and governments can act. However, they all are finding ways to adjust. While I expect the learning curve to remain steep, the knowledge is getting processed and acted upon
It's not preferable, but all major U.S. financial companies will eventually be under government control because the alternative is so much worse, Hugh Hendry, chief investment officer at hedge fund Eclectica Asset Management, said Friday.
The latest job cuts in the banking sector come amid an overall wave of layoffs across the United States as companies move to cut costs in the face of slackening demand and a general economic downturn.
Citigroup’s board will likely convene today to discuss many of these alternatives. This comes after the stock has lost half of its value this week, as it closed below $5 yesterday
U.S. stocks looked set for an end-of-week rally Friday with the Dow futures gaining around 200 points ahead of the open, but recent declines have left investors with little trust in upswings.
Citigroup could see its shares rally by 100 percent or sink to nothing, investor Marc Faber told CNBC Friday.
The stock market is now officially in no man's land. Those were the words of one trader, but he certainly isn't alone in that view. Friday promises to be no less strange as options expire in equities, and credit markets continue to show new signs of frosting over.
After lobbying President-elect Obama to be appointed Treasury Secretary, SEC Chairman, and Fed Chairman, Cramer offers his eight point, tough-love plan to restore the American Economy.
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Citigroup, trying to arrest the sharp slide in its stock price, may look for a possible merger partner or take other steps to raise cash, senior officials told CNBC.
In this feature the traders reveal some of their best trade secrets. Find out how Zach Karabell has been playing Citigroup. Will his moves work for you?
What’s the old tag line. The Citi never sleeps. Well the stock is certainly keeping investors up nights!