Citigroup Keeps Banks on a Roll
Could it be springtime on Wall Street? Citigroup (C) is the latest big bank to post encouraging results that beat forecasts when it announced first-quarter results on Apr. 17. Although the New York bank reported a loss of 18¢ per share, the number was below the consensus forecast of a 34¢ loss. Analysts and investors were upbeat about the stream of good earnings news coming out of the banking sector in the past week, but they remain circumspect about economic headwinds, the pending outcome of ongoing federal stress tests, and the ugly loans still souring on balance sheets.
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