Citigroup Shares Down Despite Pandit’s Lust for Emerging Markets: C, BAC, GS, EEM, KBE, XLF
Citigroup (NYSE:C) Chief Executive Vikram Pandit is optimistic about growth in emerging markets (NYSE:EEM). On the flip side, however, he expects a prolonged slowdown in developed economies such as the US and Europe.
Speaking at Singapore, Mr. Pandit expressed confidence that the results of his expansion plans would soon be visible to investors, and that substantial amounts of capital were likely to be returned to investors in future years. Citigroup has come under pressure to be more transparent about expenses after Bank of America (NYSE:BAC) and Goldman Sachs (NYSE:GS) have gone on a slashing spree.
Citigroup (NYSE:C) stock is trading at $26.77 today, down 0.82%. Shares are down 30.44% in one year. The stock’s trading range for the year is between $23.19 and $51.50.
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