Newspaper wrap-up: Citigroup investors view troubling 2007 results

Posted Feb 26th 2008 8:36AM by Laurie Pasternack
Filed under: Newspapers, Magazines, Ford Motor (F), International Business Machines (IBM), Citigroup Inc. (C)

MAJOR PAPERS:

According to the Wall Street Journal's "Heard on the Street," Citigroup Incorporated's (NYSE: C) 2008 annual report discloses that on 15 different occasions the bank had daily losses of $100M. Still ahead are what might happen with mortgage investments, leveraged loans and commercial real estate.
International Business Machines Corporation (NYSE: IBM) today begins the sale of its new Z10 mainframe computer at $1M each, which analysts believe will significantly help the company's hardware and software sales, the Wall Street Journal reported.

OTHER PAPERS:

Ford Motor Company (NYSE: F), in an effort to urge thousands of workers to take buyouts, is pushing hard with its selling tactics, including adding incentives, job fairs and marketing DVDs and brochures, the New York Times reported.
Globes reported that Gilat Satellite Networks Ltd (NASDAQ: GILT) has signed two $10M contracts in Africa, which involve both services and the supply of equipment.

Tags: C, Citigroup, F, Ford, Ford Motor, FordMotor, Gilat, Gilat Satellite Networks, GilatSatelliteNetworks, GILT, IBM, IBM Corp, IbmCorp

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Reader Comments (Page 1 of 1)

2-27-2008 @ 2:55PM

Americas Watchdog said...

Hi Laurie;

If you think or the WSJ thinks that Citi had a bad year.......wait till they report on the first quarter of 2008. We have the National Mortgage Complaint Center & the Corporate Whistle Blower Center & this mess is going to get much, much worse. To include Merrill, WA MU, Countrywide, kind of every one in financials.

Which brings us to why are people buying these stocks? Home builders will not fare any better. And when it comes to mortgage insurers.........they might want to move the risk VP's & Presidents to offices with no windows.

We wonder why Uncle Ben is lowering rates again? Perhaps at some point he will figure out that rate cuts are not helping. We are not looking forward to paying $5.00 per gallon of gas by the summer. Even with the rate cuts, Ben cannot restore 2 trillion+++ in lost US real estate equity. It will take years for that to happen.

What did Wall Street fail to lear from the S & L disaster of the late 1980's?