Movers: Citigroup, Google, Capital One, Honeywell, Caterpillar
Citigroup (C) posts $1.02 first quarter loss per share, vs. $1.01 EPS a year ago, on 48% revenue drop. Notes significant write-downs in sub-prime related direct exposures in fixed income markets, highly leveraged finance commitments. Citigroup recorded writedowns and credit costs of $6 billion, which is sharply lower than recent market speculation of writedowns of up to $22 billion.
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