Market Updates: Goldman Sachs Group (NYSE:GS), Sears Holdings (NASDAQ:SHLD), Staples (NASDAQ:SPLS), Dollar Tree (NASDAQ:DLTR), Home Depot (NYSE:HD)
May 20, 2010 at 11:17 AM EDT
Citadel Securities LLC, the brokerage firm started by Ken Griffen, reported earnings of $81.6 million on revenue of $1.01 billion last year, providing a glimpse of the hedge-fund manager’s efforts to build a competitor to Wall Street banks such as Goldman Sachs Group (NYSE:GS). Most of the revenue came from the closely held firm’s nine- year-old options and equities market-making business, according to financial statements filed Feb. 25 with the U.S. Securities and Exchange Commission that the agency inadvertently released on its website. Citadel Securities’ investment-banking operation, which started up in the fourth quarter, accounted for $5.4 million of revenue. –Bloomberg Sears Holdings (NASDAQ:SHLD) reported Thursday that first-quarter net income fell 38% as thinner profit margins at its Sears chain, squeezed by discounts on appliances, offset a turnaround in…