Stocks in the news: Citigroup, General Electric, Google

Citigroup Inc. (C) ended a five-quarter losing streak by posting a $1.6 billion profit on gains from an accounting rule that helps companies in distress. But the bank posted a loss per share of 18 cents because of payment of preferred dividends, beating analyst estimates for a loss of 32 cents. Meanwhile, revenue nearly doubled, reaching $24.79 billion. Shares jumped 6 percent before the bell.

General Electric (GE) first- quarter profit also topped estimates, falling less than expected, as demand for energy equipment and jet engines tempered the effects of real- estate losses and rising consumer-credit defaults at GE Capital. Profit from continuing operations declined 35 percent to $2.83 billion, or 26 cents a share, 4 pennies better than expected. Shares were higher in pre-market trade.