Citi Shares Fail to Revive

Shares of Citigroup Inc. (C) slipped below the $4-mark on Friday even as the news of the financial giant planning to sell itself off in full -- or parts -- failed to revive the stock. According to The Wall Street Journal, the New York-based bank is scheduled to hold a board meeting Friday to discuss the proposal. The downward spiral in Citi's stock price has also cast a shadow on its bid to acquire Chevy Chase Bank. The stock is trading down 18.47% intra-day at $3.85.

It's been all bad news for Citi this week as it first announced a 53,000 cut in its workforce and then acquired $17.4 billion in assets held by structured investment vehicles. Then on Thursday, the stock touched its lowest point in 15 years when it fell below the $5-mark, even after Saudi prince Prince Alwaleed bin Talal hiked his stake in the company to 5%.

Analysts have been steadily clipping Citi's earnings estimate for the current quarter over the last three months. While the profit forecast stood at 34 cents three months ago, it now hovers around 1 cent a share. This comes on the back of three negative surprises in the last four quarters from the bank, which also lost out to Wells Fargo (WFC) in its bid to acquire Wachovia (WB).

Read the full analyst report on C

Read the full analyst report on WFC

Read the full analyst report on WB