Citigroup Inc. (C) - the U.S. financial titan still reeling from the subprime fallout - was the target of another downgrade, as Goldman Sachs Group Inc. analyst William Tanona said the bank may suffer $8.9 billion of second-quarter write-downs and be forced to cut its dividend again.
TheStreet.com's Jim Cramer says forget calling a financial bottom -- everything you need is right in front of you.
Do you think this week will finally end the oil inventory nonsense? Do you think this week could be the breakout where oil doesn't trade on the slight build or the "heavier than expected" c...
Oil drops: Hess (HES), Southwest Airlines (LUV), Ultrashort Oil and Gas ProShares (DUG)
Oil fell $4, the furthest in 2 months, even amid news supplies are being squeezed. Joe Terranova commented "the back of the board has fallen $13…I think this is a period for the market to test $120. And from there I’d like to see who shakes themselves out of the market if we break below $120." Terranova is short Hess and is long LUV and the Canadian dollar. Jeff Macke said oil didn't break down, but it did have a near-term top. Dan Fitzpatrick would not mak
Short interest in Countrywide Financial (NYSE:CFC) moved up by a big 26 million shares as of May 15 to 102.4 million compared to the number on April 30. Someone thinks the deal for Bank of America (NYSE:BAC) to take the company over may be in trouble. Shares of a number of other financial companies were also hit hard during the period.
With everyone, including the FBI and US Congress, looking into Countrywide's lending practices and stock sales by management, the short gamble may b
Recap of CNBC's Fast Money, Friday May 16.
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Baker Hughes (BHI), Halliburton (HAL)On Friday, crude neared $130 after Goldman’s estimate that the commodity would reach $141. Jeff Macke would buy oil on pullbacks, but Adami saya for those who are nervous about oil, service stocks such as HAL and BHI fit the bill.
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Yahoo (YHOO), Microsoft (MSFT), Google (GOOG)
The war rages on for Yahoo and Karen Finerman thinks Icahn can win because shareholders are not behind Yahoo's board, which has disappointed them. Macke would be long Microsoft and thinks Yahoo will simply self-destruct.
Don't know why financial-types think big mistake-riddled banks won't hit book values, as they always do in financial bad times. Oh right, it might be because Citi's book value is essentially negative.
Citi is essentially showing you their hand, and it's garbage, and they are not playing low-ball poker (but you might be if you short the stock). How many times do they have to raise capital, in order for the market to understand they are in serious trouble?
Eventually, cash supplies for savior investors like hedge funds and oil-money will run out, and when it does, Citi and it's
TheStreet.com's Jim Cramer says the exchange rate plus massive undervaluations make the great brands prime targets.
There's always been a groupthink in Europe about currencies. The companies that want to buy American companies have, at times, seemed to care more about the currency, or at least not buying a company in a country whose currency is in decline, than they care about the actual target.
There was a selloff in the financials late in the day, observed Pete Najarian, and he said XLF has pulled back after hitting $27 for the seventh time. He blames Citigroup for keeping XLF back. Jeff Macke said there was a potential rally on Citi’s raising capital, but it didn’t pan out. He didn’t think the Fed meeting had much of an impact on the market and didn’t think the selloff was so severe. Guy
TheStreet.com's Jim Cramer says we know how it'll play out. Besides, there's money to be made elsewhere.
Nobody's dissing the credit crisis. We all see it. We know when it is back. We know that the write-offs for the banks and brokers and Fannie (NYSE: FNM) (Cramer's Take) and Freddie (NYSE: FRE) (Cramer's Take) will b...
Well, companies don't use FICO scores. they use credit ratings.
Fitch Ratings downgraded AA- with a negative outlook after the conference call . When you have a lower FICO/credit rating, cost of credit rises. 1Q 2007 costs were $2.706 million. 1Q 2008 costs of credit rose to $5.751 million. That's alot.
C, above other companies, needs more cash than the other banks. Citi's Tier I Capital ratio is at 7.7%. Um, the minimum target is 7.5%. Otherwise, they will likely need cash infusions from other investors, which is dilutive. I'm still surprised C has not cut its d
China is going to be the next great country. The 19th century was the century of the U.K. The 20th century was the century of the U.S. The 21st century is going to be the century of China.
China is going to be the next great country. The 19th century was the century of the U.K. The 20th century was the century of the U.S. The 21st century is going to be the century of China.
Time Is Ripe
- Perhaps we could begin our discussion on C by asking ourselves - if we take the credit crisis away, where do we see C at? And at USD18.55 (23 June 08 c
citibank distintegration?
- There is are a few articles in todays wsj on citi. citi has been having some pains ( to say the least ) and many experts are suggesting a disintegratio...
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