Charting Stocks

It was only a month ago when Citigroup CEO Vikram Pandit assured the public that his troubled bank was “Profitable” for the first 2 months of 2009. The news sparked an immediate rally which lifted the oversold stock market from its March lows. We, at Charting Stocks, did not share in the new found optimism [...]

Nationalized Citi disclosed that they spent about $3.5 million to provide rewards for top-performing advisers at its Smith Barney brokerage unit.
Smith Barney’s, the brokerage firm owned by Nationalized Citi,  gave its top 500 stock brokers $3,000 debit cards, according to a by the New York Post. The next 500 brokers received cards for $2,000 [...]

Bailout #3 for Citigroup
The Government has reached a deal to buy 36% of Citigroup’s common stock. The United States will now be the largest shareholder of the troubled bank (But don’t call it nationalization). Citigroup announced another huge quarterly loss. The firm lost $10 billion in the 4th quarter of 2008 and has suspended dividend [...]

The Dow Jones reports that the cost of protecting Citigroup’s (C) subordinated debt against default rose to distressed levels Tuesday amid widespread uncertainty over what new government involvement in the banking giant would entail. Credit default swaps on Citi’s subordinated debt are trading at 8/11 points up front, according to Phoenix Partners Group. That means [...]

On November 20th, 2008 it was announced that Saudi Prince Alwaleed bin Talal bought up shares of Citigroup (NYSE: C) increasing his holdings to 5% of the total outstanding shares. The move seemed quite daring at the time as Citigroup’s shares were in freefall dropping 25% in the previous trading day alone (down over 90% [...]