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Write-down Topics

Citigroup profit drops after it writes down brokerage unit

Citigroup Inc said quarterly profit plunged on a $4.7 billion write-down of its stake in a brokerage operated by Morgan Stanley, but mortgage lending increased and capital markets results rebounded.

 

KB Home's Loss Narrows

KB Home reported a narrower loss, aided by fewer write-downs and improved margins, as the company continued to see improvement in orders for new homes.

 

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