CITIGROUP

Citigroup Inc., the third-biggest U.S. bank, said it may consider further spending cuts in its securities and banking unit in 2012 after an investment of almost $1 billion failed to yield meaningful revenue.

Roche Holding AG is offering $5.7 billion in cash to buy U.S. gene sequencing company Illumina Inc in an unfriendly takeover bid that marks a major play by the Swiss drugmaker into the gene technology field.

SAP, the world's biggest maker of business software, was upbeat on its topline growth this year citing its investment in new technologies and robust corporate spending.

Citigroup Inc said it may make further cuts in its securities and banking unit in 2012 if revenue does not pick up meaningfully, as the prospect of more layoffs looms large over investment banks globally.

Citigroup Inc may consider further restructuring of its securities and banking unit if the business does not see meaningful revenue recovery over the course of 2012, Chief Financial Officer John Gerspach said on a conference call.

Swiss drugmaker Roche Holding AG offered about $5.7 billion in cash to buy U.S. gene sequencing device maker Illumina Inc , in a potentially hostile takeover bid to boost its position in life sciences and diagnostics.

Citigroup Inc was sued for fraud by Loreley Financing over nearly $1 billion worth of collateralized debt obligations purchased in 2006 and 2007.

Payment processor Euronet Worldwide Inc said a small portion of its European business was the target of a criminal security breach late last year, sending its shares down as much 6 percent.

As state and federal officials near a deal with top banks to settle claims of foreclosure abuses, left-leaning activist groups have stepped up pressure on the officials to reach a deal that demands more from the banks.

Diamondback Capital Management will pay more than $9 million to settle allegations of insider trading at the Stamford, Connecticut-based hedge fund.

The volatility, panic, and the resulting tightening of investors' purses that dominated credit markets for much of 2011 is giving way to calm, creating a flood of cash from investors now confident enough to put their money back into corporate bonds. Somewhat surprisingly, crisis-exposed financial institutions, even in Europe, have been able to take advantage.

Intel Corp will promote 20-year company veteran and manufacturing expert Brian Krzanich to the post of chief operating officer, making him a frontrunner to one day replace Paul Otellini as chief executive.

Hong Kong and Shanghai shares rose on Friday, achieving a second straight week of gains and managing to break above stubborn chart resistances on hopes of policy easing inChina and on stronger overseas markets.

Bank of America Corp (BAC.N) may give shares worth $1 billion to employees instead of cash as part of bonuses and hold back on dividend increases and buybacks, as the second-largest U.S. bank grasps for ways to boost its capital levels.

A pricey settlement over bond insurance pushed Morgan Stanley into the red in the fourth quarter, but the Wall Street bank still posted better-than-expected results, due to a focus on cost cuts and relatively strong performance in equities trading.

American Express Company (NYSE: AXP), the biggest credit-card issuer by purchases, is expected to beat Wall Street's consensus profit estimates, with earnings gains driven by stronger consumer spending and a diversified business model. This is sharp change from prior quarters when the company grew profits by dipping deeper into the company's reserve funds that were set aside to cushion against future losses.

A special charge pushed Morgan Stanley into the red in the fourth quarter, but the Wall Street bank still posted better-than-expected results by cutting non- compensation costs, sending its shares higher.

Photography firm Eastman Kodak Company and its U.S. subsidiaries have filed for chapter 11 business to boost liquidity, monetize non-strategic intellectual property and fairly resolve legacy liabilities.

Stocks were set to rise at the open on Thursday after Bank of America and Morgan Stanley reported earnings and as strong demand at European bond auctions lessened euro zone debt concerns.

Long-suffering investors may wonder what to do with their Eastman Kodak shares now that the company has filed for bankruptcy in New York City.

The top pre-market NASDAQ Stock Market gainers are: F5 Networks, Xilinx, Riverbed Technology, Golar LNG, Altera, Logitech International, eBay, and Apple. The top pre-market NASDAQ Stock Market losers are: Neurocrine Biosciences, Vodafone Group, Research In Motion, and Huntington Bancshares.