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  • Citigroup Inc. (NYSE:C) and Bank of America Corp. (NYSE:BAC) Thursday Updates

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    Thursday Sept. 1, 2011 at 01:08 pm EST
     

    Citigroup Inc. (NYSE:C) and Bank of America Corp. (NYSE:BAC) Thursday Updates
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    Discover Financial Services (NYSE:DFS) has reached an agreement to buy a $2.5 billion student-loan portfolio from Citigroup Inc. (NYSE:C), a follow-up to last year's deal in which Citi sold its 80% stake in Student Loan Corp. to Discover in a $600 million mutli-part deal.

    Shares of Citigroup Inc. (NYSE:C) are trading down 40 cents at $30.64. Major support levels for Citigroup Inc. (NYSE:C) below current price are at $30.02 and $27.21. Major resistance levels above the current price are at $37.64, $39.15, $40.06, $42.09, $44.58 and $49.11.



    Bank of America is said to be selling its correspondent mortgage business. The operation currently buys mortgages financed by other banks, resells them to investors and keeps the servicing rights

    Shares of Bank of America dropped 1% Today and are currently trading at $8.07. Major Resistance levels for Bank of America Corp. (NYSE:BAC) above current price are at $9.61, $10.33, $11.34, $12.13 and $13.56. Major support levels for Bank of America Corp.(NYSE:BAC) below current price are at $7.49 and $6.48.



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