Citigroup Inc., Bank of America Corp., UBS AG, Deutsche Bank AG and Dominion Resources Inc. Highlighted in the Zacks Analyst

 Citigroup Inc., Bank of America Corp., UBS AG, Deutsche Bank AG and Dominion
             Resources Inc. Highlighted in the Zacks Analyst Blog

PR Newswire

CHICAGO, Dec. 3, 2012

CHICAGO, Dec. 3, 2012 /PRNewswire/ announces the list of stocks
featured in the Analyst Blog. Every day the Zacks Equity Research analysts
discuss the latest news and events impacting stocks and the financial markets.
Stocks recently featured in the blog include Citigroup Inc. (C), Bank of
America Corp. (BAC), UBS AG (UBS), Deutsche Bank AG (DB) and Dominion
Resources Inc.(D).


Today, Zacks is promoting its ''Buy'' stock recommendations. Four daily picks
are offered free.

Here are highlights from Monday's Analyst Blog:

More Layoffs at Citi, Bonuses Cut

Citigroup Inc. (C) is contemplating laying off 150 employees coupled with a
10% trim of bonuses in its trading and investment-banking division, according
to a Bloomberg report. The move comes as Citi counters revenue slouch with
expense cut initiatives.

Scheduled for this quarter, the layoffs would impact Citigroup's businesses
including equities trading and underwriting. Further, this year bonuses will
be reduced at the company's securities and banking division. However, leading
performers might not encounter the cut.

Notably, the economic slump has had a severe impact on the Securities
sales-and-trading business across several large Wall Street firms. With
investors growing wary of the European debt crisis as well as U.S. economic
outlook, this business has witnessed reduced volumes and lower revenues.

The onset of the current layoffs was triggered prior to the departure of Mr.
Pandit, the former Chief Executive Officer of Citi. Further, with its new CEO,
Michael Corbat, Citi remains committed to continue with the efficiency
improvement measures and the expense management efforts.

In Conclusion

Amidst a challenging operating environment, lower returns and stringent
capital norms, many Wall Street banks are downsizing businesses to meet the
aforementioned challenges. Apart from Citi, Bank of America Corp. (BAC), UBS
AG (UBS) and Deutsche Bank AG (DB) are rightsizing their business and slashing
jobs to address revenue slump.

As such, in a tepid economic recovery, bolstering revenue has become a
challenge. Therefore, sustaining and elevating profitability through cost
reduction measures including layoffs and bonus cuts are what several banks are
looking at. So, until a recovery in revenue occurs, such actions are
anticipated to continue to help strengthen profit levels and capital ratios.

Citi currently retains a Zacks #3 Rank, which translates into a short-term
Hold rating. Though cost cut initiatives are encouraging, we believe that
change in estimates might occur only after the announcement of any major
restructuring or for any substantial prospect of growth in revenue.

Dominion's Virginia Solar Plan OK'd

Richmond-based utility Dominion Resources Inc.'s (D) business arm, Dominion
Virginia Power received approval from the state's regulators for the
construction and operation of a solar power demonstration project in Virginia.

The construction of the 30-megawatt solar generation facilities was sanctioned
by the State Corporation Commission ("SCC"). The facilities would be
constructed at different locations by leasing rooftops of commercial,
industrial, and public government buildings. Each installation will have a
generating capacity of 500 kilowatts to 2 megawatts and will span a roof area
of 75,000 square feet or more.

The renewable program's estimated cost was set at $111 million by the company.
However, regulatory authorities restricted capital spending to $80 million to
reduce the burden on customers. When operational, the project output would be
adequate to power around 6,000 homes during peak daylight hours.

The solar facility will boost Dominion's position given the current positive
vibe in the U.S. energy market that favors eco-friendly sustainable power
generation. Although the use of wind energy for electric generation has gained
considerable grounds in the U.S., we believe solar energy is not far behind.

The potential increase in solar energy usage in the U.S. will significantly
complement Dominion's targeted renewable growth goals of 15% for its Virginia
operations by 2025. The Zacks Consensus Estimates for the fourth quarter and
full year 2012 presently stand at 69 cents and $3.06 per share, respectively.

Today, Zacks is promoting its ''Buy'' stock recommendations. Four daily picks
are offered free.

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