Analyst David Trone expects some selling pressure on Citigroup (C, closed Monday -5.4%) after it...

|About: Citigroup Inc. (C)|By:, SA News Editor

Analyst David Trone expects some selling pressure on Citigroup (C, closed Monday -5.4%) after it follows through with a July 24 plan to convert preferred shares to common stock, saying he suspects a "substantial portion" of preferred shares are owned by institutions. Separately, CEO Vikram Pandit said he expected half of the bank's financial-services revenue to come from emerging markets.