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News Breaks
February 10, 2010
06:49 EDTC
theflyonthewall.com: Citigroup reinstated with a Neutral at Goldman
Target $3.50. :theflyonthewall.com



News For C From The Last 14 Days
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February 12, 2012
11:02 EDTC
theflyonthewall.com: The market can continue to rally if the banks do, Barron's says

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February 10, 2012
16:01 EDTC
theflyonthewall.com: Options Update; February 10, 2012
CBOE Volatility Index-VIX up 2.20 to 20.83. Option volume leaders today: C BAC GM AAPL according to Track Data. :theflyonthewall.com
14:36 EDTC
theflyonthewall.com: Market set to end week lower as Greek default fears resurface

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10:14 EDTC
theflyonthewall.com: Citigroup to expand in China, China Daily reports

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09:45 EDTC
theflyonthewall.com: Active equity option families in first 10-minutes

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09:24 EDTC
theflyonthewall.com: Citi bill-pay app double charges some customers, NY Times reports

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07:26 EDTC
theflyonthewall.com: Banks' foreclosure settlement just the beginning of its troubles, Bloomberg says

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06:18 EDTC
theflyonthewall.com: On the Fly: Periodicals Wrap-Up

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February 9, 2012
16:42 EDTC
theflyonthewall.com: On The Fly: Closing Wrap

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16:03 EDTC
theflyonthewall.com: Options Update; February 9, 2012
CBOE Volatility Index-VIX up 39c to 18.55. Option volume leaders today: C BAC CSCO AAPL according to Track Data. :theflyonthewall.com
15:47 EDTC
theflyonthewall.com: Citigroup forced to write off $50M due to traders in rate scheme, FT says

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14:19 EDTC
theflyonthewall.com: Citigroup says total value of mortgage settlement $2.2B
Citigroup said the monetary component of its residential loan servicing and origination practices settlement is to be paid in three parts: a payment in cash upon final settlement; customer relief payments; and refinancing concessions, for a total value of approximately $2.2B. Citi expects that existing reserves will be sufficient to cover customer relief payments and all but a small portion of the cash payment called for under this settlement. Citi will adjust its Q4 financial results to reflect an additional $84M charge. The impact of the refinancing concessions will be recognized over a period of years in the form of lower interest income. Citi will also adjust its Q4 financial results to reflect an additional $125M charge in connection with the resolution of related mortgage litigation. :theflyonthewall.com
12:09 EDTC
theflyonthewall.com: On The Fly: Mid-Day Wrap

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11:51 EDTC
theflyonthewall.com: Fed announces $766.5M in bank sanctions as part of foreclosure settlement

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10:35 EDTC
theflyonthewall.com: DOJ announces $25B settlement with five largest mortgage servicers
U.S. Attorney General Eric Holder, Department of Housing and Urban Development Secretary Shaun Donovan, Iowa Attorney General Tom Miller and Colorado Attorney General John W. Suthers announced that the federal government and 49 state attorneys general have reached a landmark $25B agreement with the nation’s five largest mortgage servicers to address mortgage loan servicing and foreclosure abuses. The joint federal-state group entered into the agreement with the nation’s five largest mortgage servicers: Bank of America Corporation (BAC), JPMorgan Chase (JPM), Wells Fargo & Company (WFC), Citigroup (C) and Ally Financial, formerly GMAC. The joint federal-state agreement requires servicers to implement comprehensive new mortgage loan servicing standards and to commit $25 billion to resolve violations of state and federal law. Under the terms of the agreement, the servicers are required to collectively dedicate $20B toward various forms of financial relief to borrowers. Mortgage servicers are required to fulfill these obligations within three years. In addition to the $20 billion in financial relief for borrowers, the agreement requires the servicers to pay $5B in cash to the federal and state governments. :theflyonthewall.com
10:26 EDTC
theflyonthewall.com: OCC says banks to pay $394M in penalties associated with settlement

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10:07 EDTC
theflyonthewall.com: Government settlement with banks over foreclosures could go to $40B, CNBC says

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09:53 EDTC
theflyonthewall.com: California AG announces $18B settlement with banks over foreclosure practices

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09:49 EDTC
theflyonthewall.com: Active equity option families in first 20-minutes

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09:15 EDTC
theflyonthewall.com: DOJ to announce mortgage settlement at 10 am, Washington Post says

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07:09 EDTC
theflyonthewall.com: SEC to sue unnamed banks over mortgage-related actions, WSJ reports

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06:29 EDTC
theflyonthewall.com: Government nears $26B deal with banks over alleged foreclosure abuses, WSJ says

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February 8, 2012
16:01 EDTC
theflyonthewall.com: Options Update; February 8, 2012
CBOE Volatility Index-VIX up 55c to 18.20. Option volume leaders today: C BAC AMZN AAPL according to Track Data. :theflyonthewall.com
15:59 EDTC
theflyonthewall.com: Options Update; February 8, 2012

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13:20 EDTC
theflyonthewall.com: Citigroup: monetization of DTA is a capital source that can go to shareholders

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13:15 EDTC
theflyonthewall.com: Citigroup CFO: "ratings agencies in strange mode", focused on past

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13:09 EDTC
theflyonthewall.com: Citigroup will restructure if revenues don't recover
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13:08 EDTC
theflyonthewall.com: Citigroup says macro and regulatory will be overhang in short-term

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13:06 EDTC
theflyonthewall.com: Citigroup CFO says confident they can begin returning capital in FY12

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13:05 EDTC
theflyonthewall.com: Citigroup: $60B of capital in now un-leverageable, cites DTA
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13:03 EDTC
theflyonthewall.com: Citigroup Q4 tangible book value per share $49.81

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13:01 EDTC
theflyonthewall.com: Citigroup: FY12 operating expenses will be lower, cites less investment

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12:56 EDTC
theflyonthewall.com: Citigroup decline in Q4 international consumer revenue attributed to Fx

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12:53 EDTC
theflyonthewall.com: Citigroup looking to pick up business from pullback in European banks
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12:45 EDTC
theflyonthewall.com: Citigroup sees Citi Holdings expense going to nothing, when wind down complete

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12:44 EDTC
theflyonthewall.com: Citigroup will bring assest of Citi Holdings down "over time"

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12:43 EDTC
theflyonthewall.com: Citigroup: Citi Holding's largest component is local consumer lending
This asset is cited as "mostly a run-off portfolio." :theflyonthewall.com
12:39 EDTC
theflyonthewall.com: Citigroup says driver of revenue decline in FY11 was unwind in Citi Holdings

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12:38 EDTC
theflyonthewall.com: Citigroup CFO says bank will restructure further if needed

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12:38 EDTC
theflyonthewall.com: Citigroup CFO says bank will restructure further if needed
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12:38 EDTC
theflyonthewall.com: Citigroup sees expenses declining $2.5-$3B in FY12

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08:21 EDTC
theflyonthewall.com: Mortgage lenders mostly reserved for settlement deal, Reuters reports
Five of the country's biggest mortgage lenders--Bank of America (BAC), JPMorgan Chase (JPM), Wells Fargo (WFC), Citigroup (C) and Ally Financial--are moving closer to a $25B settlement over foreclosure abuses, and it's now being understood that any deal will have little or no impact on their future bottom lines, reports Reuters. Reference Link :theflyonthewall.com
07:38 EDTC
theflyonthewall.com: Wall Street groups seek to delay CFTC speculation rule, Bloomberg reports

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07:12 EDTC
theflyonthewall.com: NY attorney general fails to support mortgage settlement, Washington Post says

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06:52 EDTC
theflyonthewall.com: Caesars prices IPO, NY Times reports
Casino owner Caesars Entertainment priced an IPO at $9 per share, the company said last night, according to The New York Times. Credit Suisse (CS) and Citigroup (C) are managing the offering, the newspaper noted. Reference Link :theflyonthewall.com
05:58 EDTC
theflyonthewall.com: Citigroup names Rodrigo Zorrilla as COO for Asia-Pacific, Bloomberg reports
Rodrigo Zorrilla has been named COO of Citigroup's (C) Asia-Pacific region, Bloomberg reports. Anthony Nappi has been appointed Chief Administrative Officer for the region. The moves follow the appointment of Stephen Bird as sole CEO for the Asia-Pacific operations. Reference Link :theflyonthewall.com

February 7, 2012
14:20 EDTC
theflyonthewall.com: NY AG may join multi-state foreclosure deal, CNBC reports

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09:47 EDTC
theflyonthewall.com: Active equity option families in first 10-minutes

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06:22 EDTC
theflyonthewall.com: SEC two-part plan to stabilize money market fund industry, WSJ reports

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05:49 EDTC
theflyonthewall.com: Multi-state mortgage deal facing setbacks, Reuters reports

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February 6, 2012
16:37 EDTC
theflyonthewall.com: Prince Alwaleed expects Citigroup dividend in 2012
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16:36 EDTC
theflyonthewall.com: Prince Alwaleed expects Citigroup to do handsomely in federal tests

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16:35 EDTC
theflyonthewall.com: Prince Alwaleed: Citigroup proposed expense cuts are "very promising"
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16:33 EDTC
theflyonthewall.com: Prince Alwaleed: Citigroup will return money to shareholders, is imminent

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16:32 EDTC
theflyonthewall.com: Prince Alwaleed: Citigroup's best days are "yet to come"

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16:32 EDTC
theflyonthewall.com: Prince Alwaleed: Citigroup under Vikram Pandit's leadership is doing very well
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16:00 EDTC
theflyonthewall.com: Options Update; February 6, 2012

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08:00 EDTC
theflyonthewall.com: U.S., states, banks close to foreclosure deal, WSJ reports

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07:07 EDTC
theflyonthewall.com: Citigroup approved to issue credit cards in China, WSJ reports

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07:00 EDTC
theflyonthewall.com: California close to backing mortgage settlement, NY Times says

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06:48 EDTC
theflyonthewall.com: Citigroup website in Brazil attacked by hackers, WSJ reports

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06:20 EDTC
theflyonthewall.com: On the Fly: Periodicals Wrap-Up

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05:27 EDTC
theflyonthewall.com: Citigroup appointed successor depositary for Elan’s ADR program

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February 3, 2012
09:42 EDTC
theflyonthewall.com: Active equity option families in first 10-minutes
Active equity option families in first 10-minutes of trading according to Track Data are: AAPL C BAC GILD. :theflyonthewall.com
06:36 EDTC
theflyonthewall.com: Swiss investigate banks suspected of manipulating interbank rates, Reuters says

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06:08 EDTC
theflyonthewall.com: U.S. banks drain their reserves, WSJ reports

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February 2, 2012
16:00 EDTC
theflyonthewall.com: Options Update; February 2, 2012

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12:30 EDTC
theflyonthewall.com: Sheila Bair: Greek debt default would not be major event for U.S. banks

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09:51 EDTC
theflyonthewall.com: Active equity option families in first 20-minutes

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08:30 EDTC
theflyonthewall.com: Xstrata, Glencore choose advisers, Reuters reports

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February 1, 2012
11:46 EDTC
theflyonthewall.com: Oregon joins multi-state agreement with financial institutions

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10:33 EDTC
theflyonthewall.com: On The Fly: Analyst Upgrade Summary

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09:40 EDTC
theflyonthewall.com: Active equity option families in first 10-minutes

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09:03 EDTC
theflyonthewall.com: Citigroup awarded mandate from Veritable to provide hedge fund services

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08:04 EDTC
theflyonthewall.com: U.S. considers sovereign debt exemption from Dodd-Frank ban, Bloomberg reports

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06:19 EDTC
theflyonthewall.com: Citigroup upgraded to Outperform from Market Perform at Wells Fargo

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January 31, 2012
13:35 EDTC
theflyonthewall.com: Banks lobbying to exempt over half of swaps biz from Dodd-Frank, Bloomberg says
If banks succeed in their lobbying efforts to have regulators exempt their overseas derivatives-trading business from the the Dodd-Frank Act, more than half of that business at five large banks could fall outside the new rules, according to an analysis from Bloomberg. The study showed that Goldman Sachs (GS) had 62% of its $134B in fair-value derivatives assets and liabilities off-shore as of Sept. 30, while 77% of Morgan Stanley’s (MS) $101B was abroad. Reference Link :theflyonthewall.com
07:07 EDTC
theflyonthewall.com: Fed says Europe sovereign-debt crisis threatens U.S. recovery, WSJ reports

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06:34 EDTC
theflyonthewall.com: New 401(k) rules to require fee disclosure, WSJ reports
Backed by the Labor Department, rules governing 401(k) retirement plans are about to change, and potentially result in savings for millions of American, reports the Wall Street Journal. Plan administrators and investment companies are to disclose the costs, as companies look to lower fees and offer new investment choices.Reference Link :theflyonthewall.com
06:26 EDTC
theflyonthewall.com: Deadline near for foreclosure settlement, WSJ reports

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06:20 EDTC
theflyonthewall.com: On the Fly: Periodicals Wrap-Up

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05:02 EDTC
theflyonthewall.com: Citigroup appointed successor depositary for AB Electrolux’s ADR program
Citigroup announced that its Global Transaction Services business, acting through Citibank N.A., has been appointed by AB Electrolux, a global leader in household appliances and appliances for professional use, as the successor depositary bank for its sponsored Level 1 American Depositary Receipt, or ADR, program. Electrolux’s ADR program trades in the OTC marketplace under the symbol “ELUXY”, with 2 ordinary shares represented by 1 ADR. AB Electrolux’s ordinary shares are listed on the NASDAQ OMX Stockholm. :theflyonthewall.com

January 30, 2012
14:42 EDTC
theflyonthewall.com: Fed says banks experienced stronger loan demand
Domestic banks reported that their lending standards had changed little and that they had experienced somewhat stronger loan demand, on net, over the past three months, the Fed said in its January 2012 Senior Loan Officer Opinion Survey on Bank Lending Practices. Regarding business loans, domestic banks reported, on balance, little change in standards on commercial and industrial, or C&I, loans but a continued easing of pricing terms on such loans during the fourth quarter, the central bank said. Domestic banks reportedly experienced stronger demand for C&I loans from firms of all sizes on net, the central bank said. The net fraction of banks reporting increased demand from small firms rose to its highest level since 2005. the Fed found. :theflyonthewall.com
12:32 EDTC
theflyonthewall.com: Coutts leaves Citigroup France, Reuters reports
Eric Coutts, Citigroup's (C) head of banking for France, has left "by mutual agreement" after nearly five years with the company, Reuters reports. Sources say Coutts is likely to be replaced by Charles-Henri Filippi, who is already country chairman. Reference Link :theflyonthewall.com
10:29 EDTC
theflyonthewall.com: On The Fly: Analyst Upgrade Summary

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07:50 EDTC
theflyonthewall.com: Morgan Stanley among banks making biggest compensation cuts, Bloomberg reports

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07:46 EDTC
theflyonthewall.com: Banks lobby to exempt half of swaps from Dodd-Frank, Bloomberg reports

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07:18 EDTC
theflyonthewall.com: Some doubt whether CDS would provide protection from E.U. shock, NY Times says

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06:40 EDTC
theflyonthewall.com: Citigroup upgraded to Buy from Neutral at Goldman

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06:22 EDTC
theflyonthewall.com: On the Fly: Periodicals Wrap-Up

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06:16 EDTC
theflyonthewall.com: Citigroup's Parsons may leave, WSJ reports

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05:51 EDTC
theflyonthewall.com: Officials launch fraud-fighting unit to probe MBS, AP reports

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05:42 EDTC
theflyonthewall.com: Citigroup to exit proprietary trading, Bloomberg reports

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