Citigroup, Inc (NYSE: C)’s stock closed above $4.00 on Friday, a critical resistance point for the stock, as the company’s second quarter earnings report date nears.
The New York-based bank’s stock closed at $4.04 at the end of trading on Friday, July 9th, ending up 1.76% for the day and 2.54% for the week. The stock has remained flat during afterhours and weekend trading. Citigroup, Inc (NYSE: C)’s stock is trading up more than 20% for the year, but is far off their 52 week high of $5.43.
The U.S. Treasury announced that it had halted trading on Citigroup, Inc (NYSE: C) shares for the two weeks prior to the company’s second quarter earnings release no July 16th.
Citigroup Inc. (Citigroup) is a global diversified financial services holding company. The Company provides consumers, corporations, governments and institutions with a range of financial products and services. As of December 31, 2009, Citigroup had approximately 200 million customer accounts and did business in more than 140 countries. Citigroup operates through two primary business segments: Citicorp, consisting of its Regional Consumer Banking (RCB) businesses and Institutional Clients Group (ICG), and Citi Holdings, consisting of its Brokerage and Asset Management (BAM), Local Consumer Lending (LCL), and Special Asset Pool (SAP). In April 2010, Barclays PLC acquired Italian credit card business of Citibank International Bank plc. In May 2010, the Company announced the creation of a new Collateral Management Services unit within its Securities and Fund Services business.
