ADVFN - Advanced Financial Network.
HOME» NYSE » C » C Stock Price » C Stock News

Citigroup Share News

 Citigroup Stock Price
C Stock Price
 Citigroup Stock Chart
C Stock Chart
 Citigroup Stock News
C Stock News
 Citigroup Company Information
C Company Information
 Citigroup Stock Trades
C Stock Trades

AIG, BlackRock Lead Financial Firms in Selling Shares This Year

By Liz Moyer When the going gets tough, banks turn to their own to drum up business. As global equity underwriting for the first half of this year hit a seven-year low, financial companies led other sectors in selling shares to the market. The top three issuers--American International Group (AIG), BlackRock Inc. (BLK) and Capital One Financial Corp. (COF)--have collectively issued some $23 billion year-to-date, according to Ipreo, a capital markets research firm. AIG's three stock sales--the biggest among financial firms this year totalling $17.4 billion--are related to the U.S. government's sale of its holdings in the insurer. After AIG, BlackRock is the second-largest seller with a $4.6 billion offering in May. Capital One sold $1.3 billion of stock in March. Financial companies have long been Wall Street's biggest customers. Among the top banks arranging stock sales for the financial sector, Morgan Stanley (MS) leads so far this year with 21 deals. Bank of America (BAC) is second with 20 deals, and Citigroup (C) is third with 15, according to Ipreo. J.P. Morgan Chase & Co. (JPM), Barclays Plc. (BCS), Deutsche Bank AG (DB) and Goldman Sachs Group Inc. (GS) each have 14. Revenue from underwriting, whether it be initial public offerings or subsequent sales by public companies, is down on Wall Street. At Morgan Stanley, which led high profile IPOs like Facebook Inc.'s (FB) debut in May, stock underwriting revenue fell 35% in the first half of the year, to $455 million. Bank of America's equity underwriting revenue fell 43% to $497 million in the first half of the year. Citi's equity underwriting revenue fell 33% to $321 million. While financial firms were busier than other sectors, their issuance was down from last year, at $34 billion so far this year compared to $38.1 billion last year. Technology firms sold $24 billion of equity year-to-date, according to Ipreo, up from $16.6 billion in 2011. Real estate investment trusts also sold $24 billion of equity so far this year, down from $28.4 billion last year. Write to Liz Moyer at liz.moyer@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Citigroup (C)
DateTimeHeadline
09/29/201423:00:21Bank Branches in U.S. Dip to Lowest Since 2005
09/29/201422:52:12Bank Branches in U.S. Decline to Lowest Level Since 2005 -- Update
09/26/201412:20:11LONDON MARKETS: Bank Stocks Lift FTSE 100; Sports Direct Drops
09/26/201400:00:09Hedge Funds to Back Citibank in Argentina Bond Dispute
09/25/201423:15:38Hedge Funds to Back Citibank Payment Request In Argentina Bond...
09/23/201402:50:20Bank of China to Sell Bond Fund in Europe
09/18/201419:55:36Senate Confirms Sheets as Treasury Under Secretary for International...
09/17/201420:43:11ASX Offers to Buy 49% Stake in Yieldbroker
09/16/201409:44:34U.S. Hot Stocks: Hot Stocks to Watch
09/16/201400:53:47Citigroup Releases Mid-Cycle 'Stress Test' Figures
09/12/201413:05:55Sterling Steady as Scottish 'No' Camp Regains Lead--Update
09/12/201407:13:56Sterling Steady as Scottish 'No' Camp Regains Lead
09/11/201419:00:08Treasury Monitoring Swaps Loopholes at U.S. Banks
09/10/201411:30:16Emerging-Market Currencies Slide on Fed Rate Jitters
09/09/201416:33:12Astenbeck Hedge Fund Cuts Back Bets, Boosts Cash -- Update
09/09/201401:57:21Amazon to Offer Fire Phone for 99 Cents
09/09/201401:57:04Pound Slumps on Scotland Poll -- 7th Update
09/09/201401:55:58Crude Prices Slide on Demand Worries
09/09/201401:50:34Crude Prices Fall on Demand Worries
09/09/201401:50:13Pound Slumps on Scotland Poll -- 6th Update

Citigroup and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad