March 26 (Bloomberg) -- Citigroup Inc., the biggest U.S. bank by assets, had its first-quarter loss estimate quadrupled by Oppenheimer & Co. analyst Meredith Whitney on expectations for further asset writedowns.
The bank may lose $1.15 a share, compared with an earlier estimate of 28 cents, reflecting potential writedowns on leveraged loans and collateralized debt obligations of $13.1 billion, Whitney said in a note to investors dated yesterday. She cut her full-year estimate to a loss of 15 cents a share from a profit of 75 cents. ------------------------- DB warning and now this. i tend to agree, a good time to take profit for those of us that caught last weeks up move. i will reevaluate if GS is 158-160, which i expect.