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Strategies & Market Trends : Range Bound & Undervalued Quality Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Esway who wrote (589)	1/18/2000 11:36:00 AM
From: JakeStraw	Respond to of 5499

Ever look at ICIX? They own 81% of DIGX...

To: Esway who wrote (589)	1/18/2000 11:41:00 AM
From: JakeStraw	Respond to of 5499

C - one I've been in since like 1989/90...and will continue to hold... Citigroup Profit Up 86 Percent NEW YORK (AP) -- Citigroup Inc. (NYSE:C - news) saw profits soar 86 percent in the fourth quarter, topping Wall Street's most optimistic estimates. Strong fees from its investment banking and Citibank helped boost the bottom-line results at the nation's largest bank. Citigroup's profits from operations totaled $2.61 billion, or 75 cents a share, beating the analysts' average estimate of 70 cents a share, as well as the highest estimate of 73 cents, according to First Call/Thomson Financial. In the fourth quarter of 1998, Citigroup had profits of $1.4 billion, or 40 cents a share, excluding one-time charges and gains. If those items are included, Citigroup had net income of $677 million, or 19 cents a share. Citigroup, which was formed by the merger of Citicorp and Traveler's, signaled that it will continue to expand in the insurance and brokerage industries. New legislation signed late last year eliminated the barriers that separated banks from other financial service industries. ''Our exceptionally strong capital position and the successful integration of our global businesses will enable us to take full advantage of the new financial modernization legislation in the coming year,'' the company said in a statement. ''This legislation opens up new horizons for our company and will facilitate our expansion in the global financial services arena.'' In morning trading on the New York Stock Exchange, shares of Citigroup were up 31 1/4 cents at $58.31 1/4. Corporate and investment banking business more than doubled to $1.31 billion from $553 million, led by strong fees from its Salomon Smith Barney brokerage and investment bank. Salomon Smith Barney advised companies on some of the largest mergers and acquisitions of the year, including MCI WorldCom's purchase of Sprint. Citigroup's revenue from its banking and lending operations totaled $612 million, up 43 percent from $429 million in the fourth quarter of 1998. For the full year, the New York-based company had profits from operations of $9.95 billion, or $2.85 a share, up from $6.34 billion or $1.77 a share in the previous year. Including one-time items, net income totaled $9.87 billion, or $2.83 a share, vs. $5.81 billion, or $1.62 a share.