Stocks to Watch Monday: Bank of America, Citigroup, First Union, Microsoft

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Earnings/revenue Analyst actions Miscellany

Banks are in the headlines today as a slew of the financial companies announced earnings before the bell. Financial companies have been hit by weakness in the economy. So while several companies reported earnings that beat expectations, they are showing lower profits than the same period a year ago.

Included among the banks in the news today are giants Citigroup(C Quote), First Union(FTU Quote) and Bank Of America(BAC Quote).

Citigroup reported earnings of 71 cents a share this morning, a penny ahead of analyst expectations, but down from 78 cents a year ago due in part to declining income in its advisory services. First Union, which has been troubled by bad acquisitions and loan losses, met analyst expectations when it said it earned 62-cents a share. The focus for First Union today, however, is on news the bank is buying Wachovia(WB Quote).The deal, if completed, will create the nation's fourth largest bank. The deal would cost First Union $13 billion in stock, and the merged bank will have some $331 billion in assets.

Earnings/revenue reports and previews

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