Citi stock soars; Pandit’s rep, too

After five years of languishing in the doghouse, Citigroup’s boss, Vikram Pandit, may be enjoying a stint in the sun. According to the NY Post shares of the global bank popped 5.5 percent yesterday, to $36.66 — their highest point since early spring — after reporting surprisingly strong third-quarter results that were chockablock with one-time items........... For example, Citigroup’s net profit of $468 million in the third quarter included a $582 million tax benefit tied to the resolution of tax audits, a funky $776 million charge related to improvements in its debt and a $2.9 billion after-tax loss tied to the write-down of its stake in the Morgan Stanley Smith Barney brokerage……....................................................................................................................... Read all about it at http://www.nypost.com/p/news/business/citi_stock_up_pandit_rep_too_tPXlI3qAU6kTsMiUMRtGsJ