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Citigroup Inc. Message Board

  • beststocktrades2 beststocktrades2 Mar 14, 2013 4:44 PM Flag

    I dont get the drop then recovery afterhours

    anybody?

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • The drop came on the news about GS and Chase. Then the news of Citi's approval from the FED kicked in. The news about the $1.2B stock buyback approval is ho hum. The news about Morgan Stanley getting approval from the fed in my opinion is what is really helping Citi in afterhours.

      Citi is selling Brazillian credit card business and Turkish bank which should be enough money to cover the share buy back. When MS buys back Citi's 35% interest in the trading business they will have big bucks for making loans, more buy backs next year and/or dividend increase.

      The buy backs make sense, since the company keeps getting smaller from the assest sales. But the buy backs are also good for securing shares for executive bonuses.

 
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