CITIGROUP

U.S. stocks posted their best day in four months on Tuesday after Citigroup said it was profitable in the first two months of 2009.

U.S. stocks posted their best day in four months on Tuesday after Citigroup said it was profitable in the first two months of 2009.

Citigroup Inc was profitable in the first two months of 2009 and is confident about its capital strength, Chief Executive Vikram Pandit said, easing concerns about the bank's survival prospects and sending its shares up 38.1 percent.

The possible return of the uptick restriction on short-sellers of shares and the prospect of changes in an accounting rule that has forced banks to take billions of dollars in writedowns, sent U.S. shares higher on Tuesday.

Stocks rallied strongly on Tuesday after Citigroup said it was profitable in the first two months of 2009 and a key lawmaker said he expects the reinstatement of a rule that hinders bets a stock will fall.

Citigroup Inc was profitable in the first two months of 2009 and is confident about its capital strength, Chief Executive Vikram Pandit said, easing concerns about the troubled bank's survival prospects.

Stocks rallied further on Tuesday after Citigroup said it was profitable in the first two months of 2009 and a key lawmaker said he expects a rule that makes it harder to bet that a share's price will fall will be reinstated soon.

Citigroup Inc was profitable in the first two months of 2009 and is confident about its capital strength, Chief Executive Vikram Pandit said, easing concerns about the troubled bank's survival prospects.

U.S. stocks rose about 5 percent on Tuesday after Citigroup said it was profitable in the first two months of 2009 and a key lawmaker said he expects the restoration of a rule that makes it harder to bet that a share's price will fall.

Shares of General Electric Co soared 15.9 percent on Tuesday amid a broad rally in U.S. stocks triggered by assurances from Citigroup Inc that the big bank was profitable through the first two months of 2009.

Shares of General Electric Co soared 15.9 percent on Tuesday amid a broad rally in U.S. stocks triggered by assurances from Citigroup Inc that the big bank was profitable through the first two months of 2009.

Citigroup chief executive Vikram Pandit said the banking giant was profitable in the first two months of 2009, generating total revenue in that time of $19 billion, excluding externally disclosed marks.

Stocks rose sharply on Tuesday as financials led a broad run-up from 12-year lows after reassurance from Citigroup about its performance, while investors turned hopeful about efforts to stem the economic slide.

Citigroup Inc was profitable in the first two months of 2009 and is confident about its capital strength, Chief Executive Vikram Pandit said, easing concerns about the troubled bank's survival prospects.

Stock futures rose on Tuesday as reassuring comments from Citigroup about the bank's performance fueled a run-up in financials and investors became hopeful about Washington's efforts to revive the economy.

Citigroup Inc was profitable in the first two months of 2009 and is confident about its capital strength after tough internal stress tests, Chief Executive Vikram Pandit told staff in an open letter.

U.S. officials are examining what fresh steps they may need to take to stabilize Citigroup Inc if its problems mount, the Wall Street Journal said, citing people familiar with the matter.

Citigroup was profitable in the first two months of 2009 and is confident about its capital strength after tough internal stress tests, according to a memo from Chief Executive Vikram Pandit obtained by Reuters.

Citigroup Inc. spent about $3.5 million to provide rewards for top-performing advisers at its Smith Barney brokerage unit, funded by operating revenue to achieves a nearly 80 percent cost saving.

New York state's top legal officer and U.S. Rep. Barney Frank demanded on Monday that Bank of America Corp provide more details on $6.9 billion in bonuses paid in 2008, including $3.6 billion at the former Merrill Lynch & Co.

GE Capital said Monday it would sell $8 billion in bonds through the Federal Deposit Insurance Corporation's Temporary Liquidity Guarantee Program, which allows companies to issue debt with the backing of the U.S. government, a company spokesman said Monday.