Citigroup, Banks | featured news

The Dow soars more than 300 points after the banking company reports that it was profitable through the first two months of the year. Other financial stocks also gain. Good news from a bank -- finally -- is sending the stock market to its best gain this year.

Wall Street is down sharply lower as investors second-guess Citigroup Inc.'s plans to turn over a big piece of itself to the government.

Citigroup and the U.S. have reached an agreement in which the government will increase its stake in the bank and in return will demand a boardroom shakeup.

Nationalization, perhaps a partial one, appears to be inevitable for the financial giant.

Bank of America Corp and Citigroup Inc shares plummeted for a sixth straight day on Friday, hammered by fears that the U.S. government could nationalize the banks, wiping out shareholders.

JPMorgan Chase & Co. and Citigroup Inc. are halting home foreclosures while the Obama administration develops its plans to help the U.S. housing market.