Word: tested
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Dates: during 2000-2009
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Indeed, Citi's shares initially rose on the news that it would have to raise less capital than some of its competitors. But since the full results of the stress test have come out, Citi's shares are down 8%, to a recent $3.50. That compares to a drop of just 2.5% in the same time for JPMorgan, which was deemed to be among the banks that are relatively healthy. "I think Citigroup is an interesting stock, but we don't own it," says Edward Maran, portfolio manager of the Thornburg Value Fund. "If the government gives the company...
...banks that were deemed to need capital will have to submit their money-raising plans to regulators. Government officials have said they intend to make management changes at the banks if the plans are deemed inadequate. Despite the relatively small $5.5 billion Citi was told to raise, the stress test deepened concerns about the bank. That means the hurdle Citi will have to jump in order to prove its management is up to the task could be higher than for the other banks...
...Actions." The credit is for the conversion of preferred stock that Citi says it plans to do but has not yet completed. Among the other 18 banks that were examined, only one other, Bank of America, was allowed to include a similar credit in the results of its stress test. And at $1.8 billion, BofA's credit was far less a factor in the outcome of its test than Citi's was. Since the stress tests, other banks have announced plans or have been able to quickly complete capital-raising deals. Yet, unlike Citi and BofA, none of these planned...
Researchers from the University of Oxford announced on Thursday that they have developed the first genetic test for predicting the likelihood that a patient's colon cancer will recur...
...test, which scans for mutations in 12 genes expressed by colon tumors, can tell patients in the early stages of colon cancer the chances that their disease will come back after treatment. That information can help doctors decide whether patients will need chemotherapy once their tumors are removed through surgery. According to the researchers who conducted the first study of the test, patients with low risk scores may expect an 8% chance of seeing their cancer come back within three years; higher-scoring patients have a 25% chance of recurrence over the same time period. Colon cancer is currently...