Citigroup Shares Drop After Failing Fed Stress Test; Applied Genetic Technologies Announces IPO


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NYSE:C / NASDAQ:AGTC / NYSE:VASO / NASDAQ:AMZN
03/28/2014 [ACCESSWIRE]

Citigroup Inc. (NYSE: C) – For an in-depth report on Citigroup Inc. follow: www.BullTrends.com/stockquote/C

C shares dropped 5.40% on Thursday with about 112.6 million shares traded. The Federal Reserve rejected the plans of Citigroup and four other banks to raise dividend payments and increase stock buybacks. The Fed said their management practices or capital cushions are not robust enough to withstand a severe economic downturn.

Applied Genetic Technologies Corporation (NASDAQ: AGTC) - For an in-depth report on Applied Genetic Technologies Corporation follow: www.BullTrends.com/stockquote/AGTC

Shares of Applied Genetic Technologies Corp. closed up 23% on Thursday with nearly 1.6 million shares traded. Earlier in the week the company announced the pricing of its initial public offering of 4,166,667 shares of its common stock at a price to the public of $12.00 per share, before underwriting discounts. All of the common stock is being offered by AGTC. In addition, AGTC has granted the underwriters a 30-day option to purchase up to an additional 625,000 shares at the initial public offering price to cover over-allotments, if any. The shares are expected to begin trading on the NASDAQ Global Market on March 27, 2014 under the symbol "AGTC."

Vasomedical Inc. (OTCBB: VASO) - For an in-depth report on Vasomedical Inc. follow: www.BullTrends.com/stockquote/VASO

Shares of VASO closed down 28.98% on Thursday with about 2 million shares traded. The stock was one of the biggest decliners in the OTCBB market. The company reported its operating results for the three months and year ended December 31, 2013. "Our equipment segment, which includes EECP® and Biox™ products, showed momentum in the last quarter of 2013 with equipment sales up by 26% for the quarter, and, as a result, we increased our fourth quarter net profit by 19% from a year ago.  Equipment sales also went up by 9% for the year; combined with a 15% increase in annual commission revenue in the sales representation segment, our net loss for the year was significantly narrowed to $1.1 million from $3.4 million last year, an improvement of $2.3 million," stated Dr. Jun Ma, President and Chief Executive Officer of Vasomedical, Inc.

Amazon.com Inc. (NASDAQ: AMZN) - For an in-depth report on Amazon.com Inc. follow: www.BullTrends.com/stockquote/AMZN

Shares of AMZN closed down a modest 1.44% on Thursday with over 5.7 million shares traded. Amazon announced that the company has no plans to offer a free streaming media service. The Wall Street Journal reported Amazon is considering an ad-supported streaming TV and music video service.

 

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