According to MarketWatch, Citigroup (NYSE:C) expects to report that third-quarter earnings will drop about 60% from a year earlier due to "dislocations in the mortgage-backed-securities and credit markets, and deterioration in the consumer-credit environment."
The decline "was driven primarily by weak performance in fixed-income credit-market activities, write-downs in leveraged loan commitments, and increases in consumer-credit costs," Chairman and Chief Executive Charles Prince said in a statement.
Deere up on Q4 earnings performance
Reid Hoffman: LinkedIn will go public (at some point)
Retailers can't wait for Black Friday, open Thursday
