Companies

Winners & Losers: Citigroup Crunched

Citigroup, the nation’s largest bank, is the latest casualty in the credit crunch.  CEO Prince resigned on the news of a multi-billion dollar loss.  Year-to-date, the stock is down more than 35%.

winners and losers


Other financials on the losing side include Lehman Brothers, MBIA, and Wachovia.  All traded down today. 

If you took a chance earlier this year on IPO Fortress Investment Group your risky move hasn’t paid off.  Since the company went public the stock has dropped more than 41%. 

Another ballyhooed underperforming IPO is The Blackstone Group .  In a span of nearly 5 months the stock price has fallen 31.72%. 

Technology seems to be immune to the credit crunch.  Google gained another 2 percent closing at $725.65.  While Baidu and Yahoo also traded up. 

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