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Citigroup On Track To Profitability, Markets Close Up
Comments by Citigroup chief executive Vikram Pandit that the bank was on track to sustained profitability lifted the markets to a higher close with the Dow gaining 44 points to 10,611. Nasdaq rose 9 points to 2368.
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Comments by Citigroup chief executive Vikram Pandit that the bank was on track to sustained profitability lifted the markets to a higher close with the Dow gaining 44 points to 10,611. Nasdaq rose 9 points to 2368.
On the upside iGo (Nasdaq: IGOI) reported break even results for the fourth quarter. Analysts were expecting a loss. Fourth quarter earnings rose for Gymboree (Nasdaq: GYMB) to top estimates and the children's clothing retailer announced expansion plans in the Middle East. DeLorme placed an order with Globalstar (Nasdaq: GSAT) for over 15,000 SPOT Satellite Communicators. On the downside Significant Zale (NYSE: ZLC) shareholder Franklin Resources has sold most of its 4.7 stake in the jewelery retailer. Men's Wearhouse (NYSE: MW) swung to a loss as revenue dropped to miss expectations. Shares of Quiksilver (NYSE: ZQK) fell ahead of its earnings release after market close.
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