Market Update: Citigroup (NYSE:C), Campbell Soup (NYSE:CPB), Owens Corning (NYSE:OC), Goldman Sachs Group (NYSE:GS)

Bloomberg reports that hedge funds run by John Paulson, Eric Mindich and George Soros purchased almost half a billion shares in Citigroup (NYSE:C) last quarter as more than 120 hedge funds said they bought stock in the bank. Shares advanced 2.2% ahead of the bell. –Daily Finance

Campbell Soup (NYSE:CPB) cut its guidance for 2010 sales growth to a range of 2.5% to 3.5% from a range of 4% to 5%. The company said it still expects adjusted earnings before interest and taxes to rise between 6% and 7% and adjusted earnings per share to rise between 9% and 11% from $2.21 a share in 2009. In other news, Owens Corning (NYSE:OC) said its fourth-quarter loss narrowed to $21 million, or 17 cents a share, compared to a net loss of $34 million, or 27 cents a share, in the year-ago period. On an adjusted basis, the Toledo, Ohio maker of commercial and residential building materials said it earned 1 cent. Net sales fell to $1 billion from $1.3 billion. –MarketWatch

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Goldman Sachs Group (NYSE:GS) managed $15 billion of bond sales for Greece after arranging a currency swap that allowed the government to hide the extent of its deficit. No mention was made of the swap in sales documents for the securities in at least six of the 10 sales the bank arranged for Greece since the transaction, according to a review of the prospectuses by Bloomberg. The New York-based firm helped Greece raise $1 billion of off-balance-sheet funding in 2002 through the swap, which European Union regulators said they knew nothing about until recent days. -Bloomberg

Spain, one of the debt-riddled euro-zone countries under the spotlight, announced that its five billion euro, 15-year bond offering was heavily oversubscribed. Investors registered about 13.5 billion euro in interest in the deal which is set to price later Wednesday. The strong Spanish offering comes on the heels of a similarly solid offering from Ireland on Tuesday. –The Wall Street Journal