Stocks Citigroup Inc

  • Sallie Mae, the largest U.S. educational lending company, said it sold $1 billion of convertible securities and $2 billion of common stock, raising more money than it had expected to pay off bad derivatives bets.

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    Like precision radar, The Fast Money Five zero in on three hot trades. Find out how they're playing excessive write-downs, a highly anticipated decision from the FDA and avoiding a visit from the tax man!

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    The major indexes lost well over 1% and the Dow Jones industrial average fell more than 190 points. What's the word on the Street?

  • A weakness in durable goods orders at home and terrorism abroad thwarted an end-of-year rally in US markets, which finished lower.

  • U.S. government bond prices extended gains on Thursday after a weaker-than-expected eading on November durable goods orders and a jump in new jobless claims.

  • S&P futures dropped 5 points on the reported death of Benazir Bhutto after a suicide bombing at a rally in Pakistan, then an additional 2 points as the durable goods report was below expectations. But according to MasterCard SpendingPulse, total U.S. retail sales, excluding automobile sales, rose 3.6% for the holiday season so far.

  • A foreclosed home for sale.

    Citigroup may need to slash its dividend 40 percent to preserve capital, and with Merrill Lynch and JPMorgan Chase may write off $33.6 billion of debt this quarter as the global credit crunch deepens, a Goldman Sachs analyst said.

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    Time to sort through the Fast Money in-box and answer more of your questions. Gary writes, “What do you think the 6 month to 1 year outlook is for Circuit City (CC). I’m looking for a trade with CC but I’m not a real long-term fan of the company.

  • U.S. stocks managed a largely flat close Wednesday -- despite disappointing holiday retail news -- as the battered financial sector and energy companies gave a boost to the broader market.

  • Temasek Holdings

    Merrill Lynch shored up its capital base by as much as $7.5 billion after selling a stake to Singapore's government and an asset manager, and unloading much of a lending business, as it wrestles with huge subprime mortgage losses.

  • Christmas Eve brought glad tidings to Wall Street, with holiday cheer emanating from the battered financial sector and spreading through the market.

  • Merrill Lynch

    Merrill Lynch said it plans to sell most of its Chicago-based capital lending business to General Electric and will boost its capital by raising up to $6.2 billion in a private placement.

  • Saudi Arabia plans to establish a sovereign wealth fund that may exceed $900 billion, which would likely be the largest in the world, the Financial Times reported on its Web site without naming sources.

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    Bad home loans sparked a bear market in bank stocks this year. How will the credit crisis evolve in ’08?

  • A last minute buying spree on Wall Street could give the stock market a surprise bounce before the end of the year. "I think we're in for a real ramp up," says Jim Cramer.

  • Major banks have abandoned plans to set up a bailout fund for subprime-related debt, mainly because not enough banks were willing to participate.

  • Merrill Lynch is the topic today: As Morgan Stanley and Bear Stearns have both taken substantial writedowns on their mortgage-related portfolios, there is speculation that Merrill will also be taking writedowns when they report in January.

  • Merrill Lynch

    With losses mounting, Merrill Lynch, the nation's largest brokerage firm, is turning to Asia for financial help.

  • Stocks closed higher as a rally in technology shares helped offset more uncertainty in the credit markets and troubling economic signs.

  • Citigroup has dismissed about 30 employees in its structured credit group which helps put together collateralized debt obligations, a source familiar with the matter said.