This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Citigroup: Financial Winners & Losers

Stocks in this article: C BAC JPM WFC XLF ABK MBI

NEW YORK ( TheStreet) -- Citigroup (C) led financial shares higher Monday after reporting strong-than-expected earnings. Citigroup's stock was up 3.29% to $4.08, though still well off the 52-week high of $5.07 they hit on April 15.

Citigroup earned seven cents a share, beating the five cent average estimate of 10 analysts surveyed by Bloomberg. Among Citigroup's strongest-performing businesses was regional consumer banking, which brought in revenues of $8.16 billion, its best performance since at least 2008. The business has shown consistent growth all year, with revenues of $24.2 billion through the first nine months of 2010 compared to $18.7 billion during the same period in 2009.

Citigroup's securities and banking business, however, has shown almost exactly the opposite performance of regional consumer banking. That business, which consists of investment banking-oriented businesses such as M&A advisory work and equity and debt underwriting, has seen revenues of $19.6 billion through the first nine months of this year, compared to $23.8 billion in the first nine months of 2009.

Despite the mixed results, the markets appeared to regard the numbers as positive, not only for Citigroup, but for financial stocks in general. That may in part be because big bank stocks took a beating at the end of last week on fears sloppiness in their mortgage servicing businesses would leave them exposed to losses.

Whatever the reason, the big bank stocks were all higher, with Wells Fargo (WFC) being the biggest beneficiary, suggesting perhaps that Citigroup's regional consumer banking strength was a good sign for the most heavily consumer-oriented of the four-largest U.S. banks. Shares of Wells Fargo were up 2.37% to $24.14. JPMorgan Chase (JPM) shares were up $1.84% to $37.84 and Bank of America's (BAC) stock rose just 0.46% to $12.04.

Financial shares in general were stronger Monday, with the Financial Select Sector SPDR Trust (XLF), a widely-followed financial sector exchange traded fund, rising 1.19% to $14.52.

One stock that had been stronger last week while the big banks were weaker was distressed monocline bond insurer Ambac Financial (ABK), so it was perhaps appropriate that Ambac shares fell 2.86% to $1.02 Monday morning while the big banks rose. However MBIA (MBI), which has a business similar to Ambac's but is perceived to have a stronger balance sheet, was up again Monday, rising 2.17% to $12.74. MBIA shares briefly hit $13.05 Monday morning, their highest price since Sept. 29 2008.

-- Written by Dan Freed in New York.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!


DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs