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More on Citigroup (C) Q4 earnings: New CEO Tom Corbat "kitchen sinks" the quarter to clear out...

  • Thursday, January 17, 8:12 AM ET
    More on Citigroup (C) Q4 earnings: New CEO Tom Corbat "kitchen sinks" the quarter to clear out the decks for his tenure as Citi becomes the only major bank to report a big miss on the bottom line. "(Earnings) reflect an environment that remains challenging, with businesses working through issues like spread compression and regulatory changes as well as the costs of putting legacy issues behind us." It's been awhile since a bank chief sounded so dour. Shares -4.5% premarket. (PR)
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This news story has 7 comments:

  •  
    So much for everyone jumping off the BAC wagon and getting on C's!
    17 Jan, 08:14 AM Reply Like
  •  
    This was expected with a new CEO.
    17 Jan, 08:36 AM Reply Like
  •  
    I might actually start a new position in C if it drops far enough. I was in and out last year and sold too soon.
    17 Jan, 08:46 AM Reply Like
  •  
    Tom Corbat is aggressively cleaning up the books so that 2013 earnings will be much better and will reflect on his management skills.
    17 Jan, 09:55 AM Reply Like
  •  
    C missed both on earnings and revenue(their old CEO knew when to leave) while BAC missed on revenues and both banks you have to assume are big recipients of Feds $40b a month MBS purchases. Dollar just doesn't go as far as it used to
    17 Jan, 10:54 AM Reply Like
  •  
    lol, don't believe their old CEO was "allowed" to leave as much as he was shown the door.
    17 Jan, 01:23 PM Reply Like
  •  
    ".And this to shall pass"
    17 Jan, 02:06 PM Reply Like
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