Eurobench.com

mercurius-adept 6 oktober 2009 23:09

0

US-Citi gets big call option trade

Citigroup attracted a significant option play in the January 2011 contract at the $5 call strike. Its shares ended steady at $4.67. In late trade, four blocks of 50,000 each totaling 200,000 contracts, hit bid-side for a premium of $1.28. The trades were part of a sale of 233,000 contracts and tied to 14.2 million shares at $4.80, said WhatsTrading.com option strategist Frederic Ruffy.

The contracts outstanding in that strike is 603,854. While it is possible this premium sale is a closing trade, it seems more likely that it is part of a so-called covered call strategy on expectations Citi shares will settle above $5 at the January 2011 options expiration, he said. The downside risk occurs if shares fall below $3.52. Citi option implied volatility retreated to 61.8 percent, a new 52-week low, and well below the extremes near 250 percent seen earlier this year, he added.

uk.biz.yahoo.com/06102009/323/stocks-...

mercurius-adept 9 oktober 2009 20:58

0

F.D.I.C. Skeptical of Citi Review, Report Says
October 9, 2009, 5:25 am

The Federal Deposit Insurance Corp. is questioning the positive conclusions given to Citigroup’s management team in a government-mandated review in the aftermath of the financial crisis, The Wall Street Journal reported, citing people familiar with the situation.

The report said some F.D.I.C. officials were questioning the rigor of the report, based partly on interviews of Citi’s executives who rated the effectiveness of their colleagues.

While the findings still are being reviewed, the skeptical reaction could cause the F.D.I.C. to give the report little weight during the next regulatory assessment of the New York firm’s management, Reuters noted.

Management skill is one of the factors used by regulators to determine financial-health ratings of U.S. banks. Such ratings help determine whether banks will be kept on an unusually tight regulatory leash.

The New York Times reported that the review took a satisfactory view of the leadership of Vikram S. Pandit, Citigroup’s chief executive, but the report was critical of at least three senior executives: Terri Dial, the head of its global consumer businesses; Don Callahan, the bank’s chief administrative officer; and Lewis B.Kaden, a vice chairman who has rotated through a number of top positions.

The F.D.I.C. required the bank to hire an outside firm to perform its review and the board selected consultant Egon Zehnder International.

F.D.I.C. Chairman Sheila C. Bair has been a prominent critic of Citigroup’s business practices and governance. The announcement last week that Bank of America’s chief executive, Kenneth D. Lewis, was on the way out heightened speculation that Mr. Pandit could suffer the same fate.

dealbook.blogs.nytimes.com/2009/10/09...

[verwijderd] 11 oktober 2009 14:59

1

Lose?
Submitted by Ted Gottsegen on Sat, 10/10/2009 - 11:40.
in C Headlines

Citigroup Inc. (NYSE:C) is reporting Q3 2009 earnings on Thursday (Oct 15th) and Wall Street is expecting the 34% U.S. Government Owned Financial Giant to report a loss of 22 Cents per share, could it be worse?

Last quarter, credit losses climbed 81% to $12.4 billion and showed further deterioration from the $10.3 billion recorded in the first quarter. While Citi's stock has soared since dropping below $1 in March, the stock has been treading water since August as consumers remain concerned over future credit losses. iStockAnalyst.com believes Citi shares will likely remain below $5 until there is clear evidence that these credit losses are abating.

Since the beginning of the year, Citigroup's shares have fallen 31%, but are up over 300% since March. In 2008, Citi's shares fell an amazing 76% and badly underperformed the 34% decline in the Dow Jones industrial average. Shares are now trading at 66x consensus 2010 EPS estimates.

Depending on the outcome of Citigroup's Thursday earnings call, the market could sway big in either direction. Citi shares are consistently the number one volume leader on the NYSE, on a typical day close to 1 billion shares trade hands. There are an unbelievable amount of options riding on Citigroup's earnings call, just take a gander at the $5 Calls and $4 Puts:

CALL OPTIONS Strike Price at 5.00

Expires Symbol Last Chg Bid Ask Vol Open Int
Oct 09 CJP.X 0.07 0.01 0.06 0.07 66,565 753,175
Nov 09 CKP.X 0.20 0.03 0.19 0.20 104,768 102,077
Dec 09 CLP.X 0.31 0.02 0.30 0.31 17,689 437,568
Jan 10 CAP.X 0.38 0.04 0.38 0.39 37,831 521,475
Mar 10 CCP.X 0.52 0.04 0.52 0.54 6,850 378,024
Jan 11 VRNAA.X 1.02 0.00 1.02 1.03 32,403 777,774

PUT OPTIONS Strike Price at 4.00

Expires Symbol Last Chg Bid Ask Vol Open Int
Oct 09 CVW.X 0.02 0.00 0.02 0.03 15,914 576,114
Nov 09 CWW.X 0.08 0.02 0.08 0.09 23,227 160,758
Dec 09 CXW.X 0.17 0.01 0.17 0.18 3,259 355,193
Jan 10 CMW.X 0.25 0.01 0.25 0.27 2,872 205,622
Mar 10 COW.X 0.38 0.00 0.37 0.39 3,812 125,732
Best of luck to those of you playing the call, let's hope for the good of the economy Citigroup beats the Street.

SOURCE: www.istockanalyst.com/article/viewart...

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mercurius-adept 13 oktober 2009 18:16

0

Deutsche Bank:

Among other ratings changes, Deutsche Bank initiated coverage of Citigroup (C Quote) shares with a buy rating and a price target of $5.50. The firm said that Citigroup's shares are attractively valued, as the bank seems well-positioned compared to its peers for both a fast economic recovery or another dip lower.

While the government's substantial investment in the company is an overhang for Citigroup's stock, Deutsche Bank said it expects the 34% stake to be reduced soon. Shares of the Citigroup were lately higher by two cents, or 0.4%, to $4.79.

www.thestreet.com/_aol/story/10610730...

mercurius-adept 14 oktober 2009 21:02

0

NEW YORK (TheStreet) -- Citigroup (C Quote) was among the winners of the financial sector Wednesday, one day before it becomes the second large U.S. bank to report third-quarter earnings.

Citigroup will post quarterly results before the start of trading Thursday, with analysts expecting the bank to report a loss of 38 cents a share on revenue of $20.04 billion, according a poll by Thomson Reuters. Investors will be looking for signs that losses in Citi's consumer businesses are moderating.

Lately, Citigroup shares were up 11 cents, or 2.3%, to $4.94.

www.thestreet.com/_yahoo/story/106112...

voda 15 oktober 2009 16:00

0

Citigroup boekt nettowinst $101 mln in derde kwartaal 2009

NEW YORK (Dow Jones)--De Amerikaanse bank Citigroup Inc, die voor 34% in handen is van de Amerikaanse overheid, heeft in het derde kwartaal van 2009 een nettowinst geboekt van $101 miljoen. In dezelfde periode een jaar eerder leed Citigroup nog een verlies van $2,82 miljard, terwijl in het tweede kwartaal van 2009 nog een winst werd geboekt van $4,3 miljard.

De resultaten over de afgelopen drie maanden reflecteren volgens Citigroup $8,0 miljard aan netto-kredietverliezen en $802 miljoen aan voorzieningen voor slechte leningen.

Per aandeel werd een verlies geleden van $0,27, als gevolg van een last van $0,18 voor de eerder aangekondigde ruil van preferente aandelen in gewone aandelen. In het derde kwartaal van 2008 bedroeg het verlies per aandeel $0,61. Analisten gepolst door Thomson Reuters hadden gerekend op een kwartaalverlies van $0,38 per aandeel.

De omzet nam toe tot $20,4 miljard, van $16,3 miljard een jaar geleden. In het tweede kwartaal van 2009 bedroeg de omzet $30 miljard.

Bestuursvoorzitter Vikram Pandit stelt dat Citigroup zich in de toekomst zal blijven richten op een aanhoudende winstgevendheid en groei, het terugbetalen van de overheidssteun en het ondersteunen van het herstel van de Amerikaanse economie. Pandit geeft daarnaast aan dat hoewel de trend van het consumentenkrediet aan het verbeteren is op de internationale markten, de Amerikaanse omgeving van het consumentenkrediet uitdagend is gebleven.

Het aandeel Citigroup zakt donderdagmiddag in de voorbeurshandel met bijna 4%, na publicatie van de kwartaalcijfers.

- Door Martijn Mom; Dow Jones Nieuwsdienst; +31-20-5715 201; martijn.mom@dowjones.com

mercurius-adept 15 oktober 2009 18:45

0

Citigroup takes $8 bln in credit losses

By Dan Wilchins

NEW YORK (Reuters) - Citigroup posted a quarterly per-share loss as it suffered $8 billion (4 billion pounds) of credit losses, raising questions about when the bank can return to sustained profitability.

The loss per share was narrower than analysts expected but still underlined how far the third-largest U.S. bank has to go to catch up with stronger rivals like JPMorgan Chase. Citigroup shares were down 5 percent in midday trade.

"On first blush, this is not particularly optimistic," said Tim Ghriskey, chief investment officer of Solaris Asset Management in Bedford Hills, New York. "They did beat on earnings and revenue, but the $8 billion credit losses ... is a reminder that we are in a weak economic environment."

The bank did post net income of $101 million, but it reported a $529 million loss from continuing operations before taxes. The ultimate bottom line for shareholders was negative, including one-time losses from converting preferred shares into common stock, and gains from taxes.

Results at the bank, which has been bailed out three times by the U.S. government, including $45 billion of capital from the Troubled Asset Relief Program, were further muddied by accounting losses that resulted from the bank's bonds performing better.

"It can give you brain damage trying to figure this out," said Walter Todd, portfolio manager at Greenwood Capital Management in Greenwood, South Carolina. "With all the other opportunities out there in the financial space, I don't know why you'd spend the time to try to understand what the heck's going on here, unless you can take a lot of risk."

Analysts have struggled to nail down when Citigroup will start posting profits from its main businesses. Some have forecast a return to "core profitability" as soon as early next year.

The third quarter was helped by gains of $1.5 billion on appreciation in assets, Collins Stewart analyst William Tanona noted in a research note.

"While these earnings are accretive to book value and further reinforce (Citigroup's) capital position, which are positives, we do not view these as high-quality earnings generators," wrote Tanona, who has a "hold" rating on the stock.

Citigroup has posted more than $100 billion of writedowns and consumer credit losses since the credit crisis began. It posted more than $37 billion of net losses between the fourth quarter of 2007 and the fourth quarter of 2008.

Citigroup CEO Vikram Pandit, whose relationship with regulators has been described as sometimes contentious, said in a conference call that consumer credit remained the number one issue affecting the company's results.

In the third quarter, the bank posted a net loss to shareholders of $3.2 billion, or 27 cents a share, compared with a loss of $2.9 billion, or 61 cents a share, in the third quarter last year.

Analysts' average forecast was a loss to shareholders of 38 cents a share.

BETTER BY OTHER MEASURES

The bank reported net income of $101 million, which excludes preferred stock dividends and a $3.1 billion item linked to Citigroup's converting preferred shares into common stock. That figure compares with a loss of $2.8 billion in the same quarter last year.

The bank said revenue in its securities and banking unit dropped by about a third, to $4.89 billion. Excluding the impact of an accounting loss from improved credit spreads, the unit's revenue was $6.6 billion.

Major competitors including JPMorgan Chase and Goldman Sachs Group Inc posted big increases in investment banking revenue, driven in large part by fixed-income trading.

On a conference call with reporters, Chief Financial Officer John Gerspach said the bank had moved many of its suffering fixed income assets to a different unit. With those assets improving dramatically in the third quarter, the bank's bottom line was bolstered, but the results did not show up in the commercial and investment bank's results.

Net revenue at Citigroup, which is now about one-third owned by taxpayers, rose 25 percent from a year earlier to $20.39 billion.

Total assets rose 2 percent from the second quarter, to $1.89 trillion.

Pandit has struggled to fix a bank formed through decades of acquisitions that resulted in a hodgepodge of fiefdoms. He has tried to shed bad assets and focus on Citigroup's main businesses, including international commercial and investment banking.

In a conference call, Citigroup Chief Financial Officer John Gerspach declined to comment on a possible timetable for repaying TARP funds. But he insisted the bank had "the capacity to begin to repay TARP" and that it was just a question of when.

Citigroup shares are down roughly 30 percent this year, compared with a rise of about 10 percent rise in the KBW Bank index .BKX> and a nearly 50 percent advance by shares of Citigroup rival JPMorgan Chase & Co.

Citigroup earlier this year separated the businesses it wanted to keep, which it calls Citicorp, from the units and assets it aims to shed, which it calls Citi Holdings.

(Reporting by Dan Wilchins; editing by John Wallace)

uk.biz.yahoo.com/15102009/325/citigro...

mercurius-adept 18 oktober 2009 22:46

0

hier het hele persbericht over de 3de kwartaal cijfers:

www.citibank.com/citi/press/2009/0910...

Alles kwijt 19 oktober 2009 21:42

0

we zitten weer eens in een duikvlucht

mercurius-adept 19 oktober 2009 23:18

0

5 centjes eraf vandaag,$4,54 vs vrijdag $4,59

(ik zie ook veel actieve kopers op dit moment ;-)

mercurius-adept 24 oktober 2009 13:23

0

Nu een week na de 3de kwartaalcijfers staan we, terug van $5, weer op $4,46 (>10% eraf)

tsja....grote banken zijn 'uit', en beleggers zien door al die bomen het waardevolle bos niet meer ;-)

mercurius-adept 24 oktober 2009 13:25

0

By: Notable Calls Friday, October 23, 2009 8:50 AM

Merrill Lynch/BAM is out positive on Citigroup, raising their valuation ranges on the stock. They now see $8 to $12 valuation as mid-best case SOTP.

Firm notes their decision to upgrade Citi to Buy in August was based on a detailed Burndown analysis that showed, in their view, the stock had little downside and significant upside potential as it was trading around "Burndown" Book Value. In their original Burndown analysis, they sought to determine the value of Citi's shares after putting the balance sheet through a very punitive stress test. In this initial Burndown scenario, the firm assumed Citi absorbed $141bn in losses, $38bn of which came from the Special Asset Pool. Citi recently released improved disclosure on the Special Asset Pool, and Merrill has reassessed their loss estimate in light of the new information, in addition to updating their analysis for 3Q:09, during which gains were recorded in the SAP. The new disclosure clarified exposure to specific asset classes within the SAP, and indicates that their original total loss estimate of $141bn for Citi was perhaps $21.4bn too high. They have lowered expected losses on the SAP to $23.4bn from $37.8bn in the Worst case scenario.

Burndown scenario puts downside at $4.22
Merrill has revisited their original Burndown analysis on review of improved disclosure on the Special Asset Pool. They deem their original "Worst-Case" loss scenario somewhat too severe. Their new Worst-Case downside valuation is $4.22 (was $3.44) on a Burndown Book Value per Share of $4.14 (was $3.88).

Sum-of-the-Parts values C at $8.73
Merrill's Sum-of-the-Parts analysis yields a $199bn valuation, or $8.73 per share on 22.9bn shares. As a "reality check", they test their SOTP by applying its assumed losses to a "Burndown", and arrive at an $8.12 valuation, providing support.

"Excess capital" scenario puts upside at $11.67
Firm's Best Case scenario examines possible eventual share repurchase ability due to excess capital in a "normalized scenario". Best case scenario yields a value of $11.67 on a 15.9bn share count.

Long-term value compelling, maintain PO for now
They think the long-term value thesis for Citi is compelling but are leaving their PO of $5.75 in place, as it represents a small discount to current BVPS and they continue to expect Breakeven earnings at best well into 2010. PO's are established on a 12-month basis. Merrill's PO still provides 30% upside potential.

Reits Buy.

Notablecalls: So now Merrill is starting to call a double in Citi in the next 12-18 months? Kind of looks like it.
www.istockanalyst.com/article/viewart...

[verwijderd] 24 oktober 2009 18:49

0

CITIBANK MOET KLANTEN TERUGBETALEN

Het parket van Brussel eist dat Citi-
bank haar gedupeerde klanten volledig
terugbetaalt. Dat schrijft de krant De
Tijd. Citibank verkocht heel wat
producten aan klanten, die eigenlijk
bij de Amerikaanse bank Lehman Brothers
werden belegd.

Toen die bank vorig jaar bankroet ging,
verloren zo'n 4.000 klanten alles samen
128 miljoen euro. De gedupeerde klanten
voelden zich misleid door Citibank en
dienden klacht in bij de rechtbank.

Volgens De Tijd volgt het parket
grotendeels de redenering van de
klanten. De krant kon de dagvaarding
van het parket inkijken. Het proces
tegen Citibank start op 1 december.

mercurius-adept 25 oktober 2009 16:34

0

quote:
spiritus schreef:
CITIBANK MOET KLANTEN TERUGBETALEN

Het parket van Brussel eist dat Citi-
bank haar gedupeerde klanten volledig
terugbetaalt. Dat schrijft de krant De
Tijd. Citibank verkocht heel wat
producten aan klanten, die eigenlijk
bij de Amerikaanse bank Lehman Brothers
werden belegd.

Toen die bank vorig jaar bankroet ging,
verloren zo'n 4.000 klanten alles samen
128 miljoen euro. De gedupeerde klanten
voelden zich misleid door Citibank en
dienden klacht in bij de rechtbank.

Volgens De Tijd volgt het parket
grotendeels de redenering van de
klanten. De krant kon de dagvaarding
van het parket inkijken. Het proces
tegen Citibank start op 1 december.

het is geloof ik niet jouw schuld hoor Spiritus, maar klopt de kop van je bericht wel?

(worden ze alleen voor het gerecht gedaagd? of zijn ze al echt concreet veroordeeld tot betalen?)

Ook daarom graag volgende keer even bronvermelding erbij doen...

[verwijderd] 27 oktober 2009 20:10

0

STABIELE CITI morgen tegen de 4,5 $

[verwijderd] 3 november 2009 20:56

0

herstelt net als andere financials weer sterk...morgen een groene dag!

mercurius-adept 4 november 2009 22:23

0

Citigroup (C Quote) was among a handful of winning stocks in the financial sector during Wednesday's session, as most bank stocks traded higher with the U.S. indices.

Citigroup added 0.5% to $4.06, Bank of America (BAC Quote) climbed 1.3% to $14.99, JPMorgan Chase (JPM Quote) rose by 1.3% to $43.17 and Goldman Sachs (GS Quote) was up 0.8% to $173.01.

Bank stocks overseas jumped on a flurry of headlines. Bank of Ireland (IRE Quote) shares surged nearly 22% to $10.45, reversing the previous session's decline, even as the bank's first-half net profit dropped 73% due to restructuring and impairment charges.

Similarly, Allied Irish Bank (AIB Quote) jumped 10.5% to $5.14, after falling hard during Tuesday's session.

Societe Generale, meanwhile, said that third-quarter net profit more than doubled from a year ago, sending shares higher in Paris.

Back in the U.S., Ambac Financial (ABK Quote) surged almost 40% to $1.55 after the insurer swung to a third-quarter profit thanks to derivatives gains. Fellow bond insurer MBIA (MBI Quote) jumping 11.3% to $4.57.

Radian Group (RDN Quote) shares also rallied by 9% to $6.47 after reporting a narrower-than-expected loss in the third quarter.

Among analyst moves Wednesday, BMO Capital Markets upgraded SunTrust Banks (STI Quote) to outperform from market perform. Shares were tacking on 0.8% to $19.81.

Elsewhere, Jefferies and Credit Suisse raised their price targets for MasterCard (MA Quote) to $250 and $260 from $240 and $255, respectively. The increased targets come a day after MasterCard reported third-quarter earnings that beat analyst estimates. Shares were lately adding 3.3% to $226.46.

www.thestreet.com/story/10621854/1/ci...

[verwijderd] 7 november 2009 12:03

2

waarom
waarom zie ik hier zo weinig?
waarom zie ik hier zo weinig mensen over citigroup

dit aandeel is naar mijn idee voor de toekomst toch een winstpakker zeker op de huidige koers

als iemand dit anders(of het zelfde ziet) ziet graag een reactie?

succes in de toekomst wat het ook zou brengen

hoop voor iedereen dat de weg omhoog snel en stabiel gaat.

[verwijderd] 8 november 2009 01:50

0

quote:
balisurfingparadise.com schreef:
waarom
waarom zie ik hier zo weinig?
waarom zie ik hier zo weinig mensen over citigroup

dit aandeel is naar mijn idee voor de toekomst toch een winstpakker zeker op de huidige koers

als iemand dit anders(of het zelfde ziet) ziet graag een reactie?

succes in de toekomst wat het ook zou brengen

hoop voor iedereen dat de weg omhoog snel en stabiel gaat.

Ik kijk altijd op de Amerikaanse fora/websites. Wel jammer dat er geen actief Nederlands forum is. Echt goed Nederlands nieuws over Citigroup moet je ook met een loupe zoeken. Dus ben je toch weer aangewezen op de Amerikaanse sites. Heb je een idee of voorstel voor meer leven hier?

[verwijderd] 8 november 2009 20:18

0

als je andelene hebt van citi moet je niet peikeren het zal een kertje boven de 10 dollar uitkomen denk dec 2009 5 $...april 2010 10$

Vertraagd	31 jan 2025 22:00
Koers	81,430
Verschil	-0,430 (-0,53%)
Hoog	82,340
Laag	81,070
Volume	12.821.407
Volume gemiddeld	14.679.390
Volume gisteren	10.775.489

15 jan	Citigroup boekt weer winst
14 jan	RBC: hoge verwachtingen voor Amerikaa...
15 okt	Citigroup boekt meevallende winst
10 sep	Topmannen Goldman Sachs en JPMorgan h...
12 jul	Meevallende kwartaalwinst voor Citigroup
12 apr	Beter dan verwachte kwartaalcijfers v...
12 apr	Beursblik: Amerikaanse banken klaar v...
jan '24	Citigroup wil 20.000 banen schrappen
jan '24	Rode cijfers voor Citigroup	1
jan '24	Beursblik: winstdaling verwacht voor ...	1

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