Im happy like crazy!!!!
READ:
Citigroup Reports First Quarter 2010 Net Income of $4.4 Billion; $0.15 per diluted shareOMG yeah! share price is increasing at an increasing rate! Alhamdulillah. i am very proud of citi!! it's picking up from the economic downfall and is in fact doing better than pre-financial crisis period! nowadays, the things that excites me the most are news in the financial market! ive become a complete nerd i tell you! Ever since i started buying shares, i became increasingly obssess with dowjones, new york stock exchange and also The Wall Street journal. It even goes to the extend that i actually arranged for a meet-up-session with my boyfriend's boss just so i could talk about the stock market. His boss is so knowledgable and knows a lot of things. He taught me the dos and dont and one very important thing he told me was "You cannot afford to be price sensitive".
The funny thing is back then in school, i was never interested in this stuff. In fact i hated reading both the Business Times or The Wall Street journal coz to be honest, nothing really makes sense to me. but right now, i finally get the whole picture and how the financial markets are inter-related to one another. And the current news in the market is definitely citi's quarter end results!! It was release a few hours ago. Since last week, ive been hoping that 19 april will come by quickly and yes it did and the news never disappoint me.
Ok people here's a little some some that i copied from the recent press release- enjoy!
Quoted from citigroup press release
""Citi today is fundamentally a very different company from what it was only two years ago," said Vikram Pandit, Citi's Chief Executive Officer. "With its financial strength, strategic clarity, efficiency, world-class business talent, and unique global footprint, Citi is well positioned to benefit from the key drivers of economic growth in developed and emerging markets.
"We are proud of our first quarter results but remain cautious about the environment, given the uncertain economic recovery and high unemployment in the U.S. Realistically, we do not expect our performance to follow an invariable trend-line upward. Longer-term, however, the prospects for Citi are clear and bright. And our first quarter of this year has given us the best glimpse yet of the potential of 'America's global bank'.
"None of this would have been possible without the magnificent work of Citi's people. They produced strong results by focusing on our clients' needs, creating a much more efficient company, maintaining strict risk management discipline, and reducing our portfolio of non-core assets and its losses.
"Our performance was aided by stability in the capital markets and improvement in the global business climate. But the perseverance, hard work, and sacrifice of my colleagues throughout Citi have been the relentless and constant force driving our momentum.
"All of us at Citi recognize that we would not be where we are without the assistance of American taxpayers. We are gratified that Citi has been able to repay their TARP investment in our company, with a substantial return, as well as create a significant increase in the value of their equity in Citi.
"Still, that is not enough. We owe taxpayers a huge debt of gratitude for assisting us at a critical time. We are determined to repay this debt by continuing to build a strong company and contribute to America's economic recovery," Mr. Pandit added."