Citigroup (NYSE:C) Misses Earnings Estimates For Q4 (potential upside 41.7%)

Uploaded by FinancialNewsOnline on Jan 17, 2012

Citigroup (NYSE:C) reported fourth quarter earnings before the bell Tuesday, posting an EPS of $0.38, missing consensus estimates of $0.49 per share. Revenues for the quarter came in at $17.2 billion missing analysts expectations of $18.54 billion.

Vikram Pandit, Citi's Chief Executive Officer, said, "Overall, we made solid progress in 2011. We increased our net income to $11.3 billion, up 6% from the previous year, and reached key benchmarks in our consumer businesses, showing our strategy is achieving results. Clearly, the macro environment has impacted the capital markets and we will continue to right-size our businesses to match the environment. With Citi Holdings assets at 12% after the transfer of retail partner cards to Citicorp, we are increasingly focused on driving earnings through our core franchise and beginning to return capital to our shareholders this year."

Citigroup (NYSE:C) has potential upside of 41.7% based on a current price of $30.74 and an average consensus analyst price target of $43.57.

What's In The News: January 17, 2012 AT&T (NYSE:T) Dish Network (NASDAQ:DISH) AIG (NYSE:AIG)

Uploaded by FinancialNewsOnline on Jan 17, 2012

This is what's in the news for Tuesday January 17, 2012. The Wall Street Journal reports the European car market in 2011 declined 1.4% to 13.6M vehicles, the fourth consecutive yearly decline, and the outlook for 2012 remains bleak. The Wall Street Journal also reports the average price of iron ore for 2012 is likely to drop from last year's all-time high, as the steel making industry grows at a slower pace. Steel Index, a London-based reference-price supplier, sees an average decline of $10-$15 a ton to about $150-$160 a ton. Bloomberg reports AT&T (NYSE:T) is under so much pressure to add wireless spectrum after its failed $39B bid for Deutsche Telekom's (PINK:DTEGY) T- Mobile USA that it may pay the highest premium in more than a decade to purchase Dish Network (NASDAQ:DISH). Reuters reports AIA Group, about one-third owned by AIG (NYSE:AIG), may bid for the $6B Asian insurance operations of ING Groep (NYSE:ING), sources say, with significant competition expected.

Alaska - Raw Video: Nome Fuel Transfer Begins at Nome

Published on Jan 17, 2012 by AssociatedPress

Crews have begun transferring 1.3 million gallons of fuel from a Russian fuel tanker to the iced-in western Alaska city of Nome. (Jan. 17)

Europe - EU parliament elects Germany's Martin Schulz President

Published on Jan 17, 2012 by Euronews

http://www.euronews.net/ Germany's Martin Schulz has been elected as the new president of the European Parliament.

Widely tipped to win, the leader of the centre-left socialist group received 387 votes out of a possible 670.

A pre-existing deal between the chamber's two biggest parties meant Schulz's victory was all but certain.

Nevertheless, he failed to achieve a total landslide. Rival runners for the presidency, British MEPs Diana Wallis and Nirj Deva, enjoyed substantial support, taking just over 140 votes a piece.

China - economic growth weakens output growing by 8.9 per cent

Published on Jan 17, 2012 by Euronews

http://www.euronews.net/ Growth in the world's second biggest economy, China, slowed to its weakest pace for two and a half years at the end of 2011.

In the fourth quarter, China's total economic output grew by 8.9 per cent. The figure for the year as a whole was 9.2 per cent.

They are still figures that stand head-and-shoulders above economic growth in the majority of the world, but analysts are warning that the Chinese slowdown has not stopped yet.

ABC World News Now: Webcast: Italy Cruise Ship Sinking; Wikipedia Goes Offline

Uploaded by ABCNews on Jan 17, 2012

today's top ABC News headlines: including why Wikipedia will be shutting off its website on January 18th.

Goldbug100 - Geely Automobile Holdings Ltd. (0175.HK) increased shareholding by 100%

at HK$ 2.03 bring the average purchase price down to HK$2.31

0175.HK

7:59AM

2.06

0.08 4.04%

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Geely Automobile Holdings Ltd (0175.HK) Company Profile - Reuters

Google Finance

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article

Geely Automobile Holdings Ltd’s Emgrand EC7 family hatchback and saloon will be something of a first when it goes on sale in the UK. Geely, which is currently mid-way through a UK dealer recruitment programme targeting 40 dealers, appears to be trying to do what Hyundai and Kia have done in recent years and build a position quickly from scratch by offering “good quality, really good value for money and a long warranty.”

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Matthew Cheyne, market development director Geely Auto UK said: “Initially this year we are looking to appoint between 30 and 40 dealers to provide sales and service facilities in the UK, including Northern Ireland.  More will be appointed in 2013 as the brand grows and more new models arrive.”

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Uploaded by GeelyenChile on Jul 8, 2011

Romania - Anger in Bucharest after days of violence

Published on Jan 17, 2012 by Euronews

http://www.euronews.net/ In Bucharest, the clean-up has begun in earnest following violent protests against government spending cuts.

Marches have been held for four straight days, but the past two have been marred by clashes with police.

Residents want tough punishment for those who vandalised local businesses.

"My opinion is that everything started good and finished bad. Those hooligan gangs have come and done what we can see in the whole of Bucharest," said one woman.