Citi spinoff

Citigroup says it filed plans for an IPO of its Primerica life insurance unit and will sell off the rest of the division after it goes public. Citi will sell all the shares being offered and re ceive all proceeds from the IPO.

Starbucks

Starbucks said fourth- quarter profit climbed as cost cuts expanded margins. Net income rose to $150 million, or 20 cents a share, from $5.4 million, or 1 cent, a year earlier.

Amaranth

Amaranth Advisors LLC, the commodities fund that collapsed in 2006, was allowed by a New York state appeals court to proceed with a suit that claims JPMor gan, its broker at the time, caused its demise by derailing a last-min ute rescue by Goldman Sachs Group.

CVS drop

CVS Caremark posted its biggest stock drop in eight years after saying its unit for managing pharmacy benefits lost $3.7 billion in contracts and dis closing that antitrust regulators are probing some business prac tices. CVS, the largest US provider of pre scription drugs, fell $7.28, or 20 percent, to $28.87 on the New York Stock Exchange.

Closed books

Borders Group says it will close 200 Walden books stores and cut 1,500 jobs in January to make the chain smaller and more profitable. Bor ders said the closings would leave about 130 Waldenbooks stores still in business.