Citigroup (NYSE:C) sits on $182 billion of risky assets that the bank wishes to unload. And Wells Fargo (NYSE:WFC) has $135.2 billion of commercial real estate loans, with losses in the portfolio rising by 21% from the second quarter to the third. When the U.S. did its stress tests in May on the 19 largest banks, the Fed estimated total losses through 2010 may reach $600 billion. So far only 20% has been recognized. -Bloomberg
Research in Motion (NASDAQ:RIMM) reported a 58% earnings surge during a quarter that saw the company sell 10.1 million handsets and add 4.4 million new subscribers. Palm (NASDAQ:PALM), on the other hand, failed to meet expectations and reported an $85 million loss amid indications of less than impressive sales. RIM shares climbed 13% in after-hours trading. Palm’s declined in after-hours, dropping over 4%. RIM’s strong showing is rather impressive given the intense competition in mobile phones. Apple (NASDAQ:AAPL) iPhone continues sell very well, while the Google (NASDAQ:GOOG) Android powered line of phones looks like a strong threat. In addition, the major carriers, including Verizon Communications (NYSE:VZ ) and AT&T (NYSE:T) are battling it out in an advertising war over coverage. –Daily Finance
The Swiss franc has crossed the Swiss National Bank’s believed "line in the sand" against the euro, leaving traders wary of central-bank intervention. The move, sparked by a report of a coup in Pakistan, quickly denied by Pakistan that also sent investors scurrying into the US dollar and Japanese yen, sent the euro to a nine month low of 1.491 francs. –The Wall Street Journal
CarMax (NYSE:KMX), the No. 1 U.S. retailer of used cars, disclosed that it swung to a third quarter profit of $74.6 million, or 33 cents per share, from a loss of $21.9 million, or 10 cents per share, in the year-earlier period. Sales and operating revenues in the quarter ended November 30th climbed to $1.73 billion from $1.46 billion. Comparable store used unit sales increased 8%. Analysts estimated CarMax to earn 16 cents per share on sales of $1.63 billion. -MarketWatch
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