Sunday, November 4, 2007

The WSJ's MarketBeat blog on Citigroup

Here's a journalist* on the keyboard at 7:00 p.m. Friday night:

The news that Chuck Prince is stepping down has Citigroup shares jumping in after-hours trade, though volume is light at 7:00 on a Friday night.

According to Nasdaq, Citi shares, which fell 2% in regular trading, are up 2.6% to $38.92 after the closing bell. It’s the most active stock, but that’s not saying much — volume is about 1.8 million shares.

A few days ago, MarketBeat posted a chart of financial-sector CEOs in trouble and wondered when Mr. Prince and Jimmy Cayne of Bear Stearns were going to follow Merrill Lynch’s Stan O’Neal to the sidelines. That chart is reproduced (with a few tweaks) below....MORE

*One of the hats he wears is Wall Street's Markets Editor.