Citigroup (NYSE:C) Chief Michael Corbat Plans to Shatter 11,000 Jobs; Pull Back in Few Emerging Markets – C, SPY, QQQ, EEM, JPM, AIG, FXI, BAC, HBC

Former CEO of Citigroup (NYSE:C) Vikram Pandit picked thousands of workers and invested billions of dollars as he wanted to lift Citigroup revenue after struggle to survive the financial crisis but his successor Michael Corbat has some other idea.

The New York-based lender reported in a statement on Thursday that Michael Corbat will shatter around 11,000 employments, over double the number Pandit reported in January.

Citigroup also reported that it will close branches and pull back from few emerging markets, a main concern for Vikram Pandit before Chairman Michael O’Neill directed his Oct 16 dismissal.

Its competitors include JPMorgan Chase & Co (NYSE:JPM) that increased +0.56% to $41.42 with the total traded volume of 7.32 million shares and HSBC Holdings plc (ADR) (NYSE:HBC) that dropped -0.12% to $51.81 with the total traded volume of 596,560.00 shares.

Other Financials stocks with bullish trend include SPDR S&P 500 ETF Trust (NYSEARCA:SPY) up +0.26% to $141.87, PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ) up +0.67% to $65.33 and iShares MSCI Emerging Markets Indx (ETF) (NYSEARCA:EEM) up +0.50% to $42.53, whereas with bearish trend include Bank of America Corp (NYSE:BAC) down -0.96% to $10.36, American International Group, Inc (NYSE:AIG) down -1.36% to $33.32 and iShares FTSE/Xinhua China 25 Index (ETF) (NYSEARCA:FXI) down -0.13% to $38.07.

Citigroup Inc (NYSE:C) stock reports on Dec 06, 2012 decreased -0.19% to the trading price of $36.39. Its fifty two week range is $24.40-$38.72. The total market capitalization remained $106.71 billion.

The overall volume in the current trading session is 18.11 million shares. In its share capital C has 2.93 billion outstanding shares among them 2.93 billion shares have been floated in market exchange. C stock institutional ownership remained 65.12% while insider ownership included 0.01%.

C is ahead its 52 week low with +49.07% and lagging behind from its 52 week high price with -6.15%. C last month stock price volatility remained 2.60%. The stock price of C is moving forward from its 20 days moving average with +2.32% and remote positively from 50 days moving average with +1.96%.

C current year earnings per share experienced an addition with +1.18% while its current quarter performance remained ++22.80%. Company’s beta coefficient included 2.59. Beta factors measures the amount of market risk associated with market trade.

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