This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Citigroup: Financial Winners and Losers

( Updated with stock price moves throughout.)

NEW YORK ( TheStreet) -- Citigroup (C - Get Report) was among the best performers of the financial sector Friday, rising 6.5% after reports the bank has restarted efforts to unload its Japanese call center.

The Wall Street Journal reported Friday that Citi's Japanese private equity arm has resumed its effort to sell Bellsystem24, the country's largest call center company by market share. The first round of bidding for Bellsystem24, valued at $1.5 billion by Citi, will close on Sept. 1, the report said, citing a person familiar with the deal.

Citigroup shares were lately rising 29 cents to $4.77, bringing the five-day rally near 20%.

Our Top 10 Stock Search

In other bank news, Morgan Stanley (MS - Get Report) is planning to hire as many as 400 traders and sales people, according to a Reuters report, as the firm moves to compete better with rival Goldman Sachs (GS).

Reuters late Thursday reported that Morgan Stanley had hired about half of the 400 planned additions to work across sales and trading, citing a source familiar with the plan. Morgan Stanley wants the workers for its foreign exchange, emerging markets and equity derivatives businesses, the report said.

Morgan Stanley shares were up 10 cents, or 0.3%, to $29.46. Goldman, meanwhile, was up 1.7% to $164.75.

Among other bank stocks, JPMorgan Chase (JPM - Get Report) added 2.7%, Bank of America (BAC - Get Report) was higher by 2% and Wells Fargo (WFC) rose 1.7%.

Regional bank stocks were also jumping Friday. Regions Financial (RF - Get Report) was higher by 6.6%, Citizens Republic Bancorp (CRBC) rose 5.4%, Fifth Third Bancorp (FITB) climbed 5%, and Huntington Bancshares (HBAN) tacked on 2.7%

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AIG $56.99 0.00%
C $52.90 0.00%
BAC $15.64 0.00%
JPM $62.60 0.00%
MS $37.36 0.00%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs