New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 26, 2014
18:04 EDTSAN, C, RBS, ZION, HSBCFed objects to capital plans of Citigroup, four others
Citigroup (C) and four other banks had their capital plans rejected by the Federal Reserve. The capital plans of the North American units of three international banks, HSBC (HSBC) of Britain, Santander (SAN) of Spain, and Royal Bank of Scotland (RBS), were rejected along with Zions Bancorporation (ZION), as the firm did not meet the minimum, post-stress tier-1 common ratio of 5%. WHAT'S NEW: Twenty five of the thirty banks that underwent the Federal Reserve stress test passed. The Federal Reserve objected to the plans of Citigroup, HSBC, Santander, and Royal Bank of Scotland based on qualitative concerns, while rejecting Zions' plan because it did not meet a minimum post-stress capital requirement. Passing the stress test is critical for the banks to get approval for dividend raises and increased share repurchase plans. CITIGROUP: The Fed noted that Citigroup has made progress in improving general risk management and control over the pasty several years but added "its 2014 capital plan reflected a number of deficiencies in its capital planning practices, including in some areas that had been previously identified by supervisors as requiring attention." PRICE ACTION: Shares of Citigroup traded down almost 6% in the after-hours to $47.30, Banco Santander was lower by almost 1% to $9.08, HSBC Holdings was up fractionally to $50.57, The Royal Bank of Scotland Group was down 0.6% to $9.94 and Zions was unchanged at $30.20.
News For C;HSBC;RBS;SAN;ZION From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | 4 | all recent news | >>
January 15, 2015
09:15 EDTCOn The Fly: Pre-market Movers
Subscribe for More Information
08:08 EDTCCiti reports Q4 net interest margin 2.92%
08:07 EDTCCitigroup reports Citi Holdings assets down 16% to $98B
Citigroup reports Q4 Citi Holdings revenues of $1.3B, which included CVA/DVA of negative $5M, compared to $1M in the prior year period. Excluding CVA/DVA, Citi Holdings revenues increased slightly from the prior year period driven by higher gains on asset sales and lower cost of funds. As of the end of the quarter, Citi Holdings assets were $98B, 16% below the prior year period, and represented approximately 5% of total Citigroup assets. Citi Holdings allowance for credit losses was $4.5B at the end of Q4, or 6.20% of loans, compared to $6.5B, or 6.98% of loans, in the prior year period. 90+ days delinquent consumer loans in Citi Holdings decreased 28% to $2.0B, or 2.88% of loans.
08:05 EDTCCiti CEO says overall 2014 results fell short of expectations
Subscribe for More Information
08:03 EDTCCiti reports Q4 net credit losses down 12% from prior year to $2.2B
Citi reports Q4 legal and related expenses and repositioning charges totaled $3.5B in the current quarter, compared to $1.0B in the prior year period. Citigroupís cost of credit in Q4 was $2.0B, a decrease of 3% from the prior year period, primarily reflecting a $299M improvement in net credit losses, partially offset by a lower net release of loan loss reserves. Reports Q4 loan loss reserve release of $441M. Reports Q4 provision for benefits and claims $206M. Citigroupís book value per share was $66.16 and its tangible book value per share was $56.83, each as of quarter end, representing 1% and 3% increases, respectively, versus the prior year period. At quarter end, Citigroupís Basel III Common Equity Tier 1 Capital ratio was 10.5%, up from 10.1% in the prior year period. Citigroupís estimated Basel III Supplementary Leverage ratio for the fourth quarter 2014 was 6.0%, up from 5.4% in the prior year period.
08:00 EDTCCiti reports Q4 EPS 6c, consensus 11c
Subscribe for More Information
06:42 EDTHSBC, RBS, SANECB most likely will unveil bond buying program, NY Times says
The European Central Bank is "all but certain" to announce at its next meeting that it will buy government bonds, according to The New York Times. But the ECB may announce that it will buy bonds but say that it will only provide details about the program in March, some believe, the newspaper reported. Some economists contend that the initiative could be a case of "too little, too late," The Times added. Publicly traded European banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link
06:25 EDTCJPMorgan, Citi fire or suspend Forex employees after Justice Dept probe, WSJ say
Subscribe for More Information
January 14, 2015
15:46 EDTCCiti technical comments before results
Subscribe for More Information
15:27 EDTCNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Citigroup (C), consensus 11c; Bank of America (BAC), consensus 32c; Charles Schwab (SCHW), consensus 24c; Fastenal (FAST), consensus 39c.
15:08 EDTCEarnings Preview: Citi sees being 'marginally profitable' after legal issues
Subscribe for More Information
14:59 EDTCCiti January 48.5 straddle priced for 3.3% movement into Q4
Subscribe for More Information
12:49 EDTCOn The Fly: Midday Wrap
Subscribe for More Information
09:36 EDTCActive equity options trading
Subscribe for More Information
09:16 EDTCOn The Fly: Pre-market Movers
HIGHER: ZIOPHARM (ZIOP), up 53% after the company and Intrexon (XON) announced a licensing agreement with University of Texas. Intrexon shares are also up 12%... GameStop (GME), up 10.6% after reporting holiday SSS, providing guidance for the fourth quarter and fiscal 2014, and being upgraded at Pacific Crest... Smith Micro (SMSI), up 12.7% after reporting preliminary fourth quarter revenue and providing revenue guidance for the first quarter and fiscal 2015... BioCryst (BCRX), up 3.2% after receiving a positive opinion on EMA orphan drug designation for BCX4161... GoPro (GPRO), up 1% following analyst remarks that sell-off after yesterday's report on Apple (AAPL) patent was "overdone." DOWN AFTER EARNINGS: JPMorgan (JPM), down 2.7%... Wells Fargo (WFC), down 2.2%... Banking peers down as well, with Bank of America (BAC) down 2.8% and Citi (C) down 2%. ALSO LOWER: Tesla (TSLA), down 9% following comments made by CEO Elon Musk at an automotive conference in Detroit regarding a slowdown in China... New Media (NEWM), down 4.8% after 7M share spot secondary priced at $21.70... General Motors (GM), down 3% after giving 2015 guidance, saying it is on track to meet previously announced 2016 financial targets... Apple (AAPL), down 1% following lawsuit against Ericsson (ERIC) and countersuit filing.
09:13 EDTRBSRoyal Bank of Scotland gets exemption from Fed, Reuters says
Subscribe for More Information
08:25 EDTCTwo Dubai lenders among bidders for Citi consumer unit in Egypt, Bloomberg says
Subscribe for More Information
06:44 EDTRBS, HSBC, SANTop court official backs ECB bond buying, NY Times reports
Subscribe for More Information
06:37 EDTRBSRBS has shortlisted Sarasin, DBS consortium for Coutts Intl sale, Reuters says
J Safra Sarasin and a consortium comprising of DBS Group are among the banks shortlisted for the second round sale process of RBS' Coutts International, reports Reuters. According to people familiar with the matter, no firm date has been set for the final bids although all the shortlisted parties have commenced due diligence. Reference Link
06:04 EDTCCiti appoints CD Davies head of global Mortgage business
Citi yesterday announced that CD Davies has been appointed Head of Citiís Mortgage business globally. Davies joined Citi in March 2014. He will continue to report to Jane Fraser, CEO of CitiMortgage and U.S. Consumer and Commercial Banking. Davies was previously President and CEO of Wachovia Mortgage Corporation.
1 | 2 | 3 | 4 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use