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Zacks Industry Rank Analysis Highlights: Citigroup, Inc., Goldman Sachs Group, WestAmerica Bancorp, General Electric and American International Group.

Publication: Business Wire
Publication Date: 12-MAR-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
CHICAGO -- Zacks.com releases the latest Zacks Industry Rank. Stocks featured in this week's analysis include Citigroup (NYSE: C), American International Group (NYSE: AIG), General Electric (NYSE: GE), Goldman Sachs Group (NYSE: GS) and WestAmerica Bancorp (Nasdaq: WABC).

Zacks Industry Rank Analysis is written by Charles Rotblut, CFA, Senior Market Analyst for Zacks.com.

This week: Wait to Buy Financial Stocks

After yesterday's rally in the financial stocks, you might be wondering if it's finally time to buy. The short answer is "not yet". The long answer is more complicated.

News of an internal memo from Citigroup's (NYSE: C) CEO, Vikram Pandit, sparked the rally. Pandit proclaimed that the company was both "profitable" so far this year and that it was "the strongest capitalized large U.S. bank".

Adding fuel to the fire was the proposal by Fed Chairman Ben Bernanke to overhaul banking regulations. Traders were also hopeful that a change to mark-to-market rules would be made and the uptick rule would be reinstated.

Financials Are Full of False Hope

Though this sounds like good news, the truth is that we've been there, done that.

Pandit's comments might sound...

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