Citigroup, oh my is this ugly. Should go below 20.
Citigroup's shares, which were trading around $55 a year ago, fell $2.21, or 7.6 percent, to $26.85 Tuesday, a five-year low. Several mutual funds, including Charles Schwab's, have already bailed out of Citigroup to prevent their customers from losing money.
The loss for the quarter totaled $9.83 billion, or $1.99 per share, compared with earnings of $5.13 billion, or $1.03 per share, during the same quarter a year earlier. Citigroup's revenue fell to $7.22 billion, down 70 percent from $23.83 billion in the final quarter of 2006.
Then comes Intel.
Intel 4Q Sales Up 51 Percent but Earnings Disappoint Wall Street
SAN FRANCISCO (AP) -- Intel Corp.'s profit leaped 51 percent as sales of microprocessors accelerated in the fourth quarter, but the world's largest semiconductor company's stock plunged after hours because the results fell short of Wall Street's expectations.
Intel shares plummeted more than 14 percent, falling by $3.23 to $19.46 after the results were released. During regular-session trading, Intel they had lost 39 cents, or 1.7 percent, to close at $22.69.
The Santa Clara-based company made $2.3 billion, or 38 cents per share, in profit for the three months ended Dec. 29, missing analysts' estimates by two cents per share |
