Citigroup: Financial Winner

NEW YORK (TheStreet) -- Citigroup (C) was the winner among the largest U.S. financial names on Monday, with shares rising 2% to close at $34.00.

The major U.S. equity indices were mixed, following a report from the Commerce Department that retail sales increased 0.8% in March, compared with a rise of 1% in February. Excluding auto purchases, sales also rose 0.8%, topping estimates, compared with an increase of 0.9% in February.

Also on Monday, the National Association of Home Builders said that its April housing market index declined three points to 25, its first decline in seven months, "where it was in January, which was the highest level since 2007."

NAHB chairman Barry Rutenberg said that "although builders in many markets are noting increased interest among potential buyers, consumers are still very hesitant to go forward with a purchase, and our members are realigning their expectations somewhat until they see more actual signed sales contracts ."

The KBW Bank Index (I:BKX) rose over 1% to close at 47.66.

As for Citigroup, before the opening bell, the company reported a first-quarter profit excluding items of $1.11 a share, beating the average estimate of analysts polled by Thomson Reuters for earnings of $1 per share.

Citi's revenue came in short, though, at $19.4 billion vs. the consensus estimate of $19.81 billion -- however, the story improved upon deeper examination.

Leaving out credit valuation adjustments (CVA) and debit valuation adjustments (DVA) for all periods, Citigroup's first-quarter revenue was $20.7 billion, increasing from $17.2 billion in the fourth quarter and $20.0 billion during the first quarter of 2011.