Stocks in the news: Citigroup, Rio Tinto, Wal-Mart, Apple
The following post rounds up the companies making headlines today:
Citigroup (C) -- The Federal Deposit Insurance Corp. wants to overhaul management at Citigroup, which could put the future of CEO Vikram Pandit at risk, according to sources of the Wall Street Journal. Today is also the stock's last day on the Dow.
Travelers (TRV) and Cisco Systems (CSCO) will replace Citigroup and GM as Dow components starting Friday.
Rio Tinto (RTP) scrapped a $19.5 billion merger deal with Chinalco. Rio said it would form a joint venture with BHP Billiton (BHP) instead and sell over $15 billion worth of shares. RTP shares climbed 8.8 percent ahead of the bell, BHP's 7 percent.