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Stock Market & Financial Investment News

News Breaks
November 14, 2012
07:01 EDTCCitigroup shareholders ask board to explore structural changes
Trillium Asset Management, on behalf of the Benedictine Sisters of Mount St. Scholastica, along with the AFSCME Employees Pension Plan recently filed a shareholder proposal with Citigroup asking the company's board of directors to explore a possible separation of one or more of its business units. Citigroup's shares have consistently traded below book value since late 2008, it failed the Federal Reserve's CCAR stress tests in March, and regulators continue to forbid it from returning significant capital to stockholders due to concerns over its financial stability.
News For C From The Last 14 Days
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April 15, 2014
10:00 EDTCOn The Fly: Analyst Upgrade Summary
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09:35 EDTCActive equity options trading on open
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08:07 EDTCCitigroup needs more progress to move higher, says Sterne Agee
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05:50 EDTCCitigroup upgraded to Outperform from Market Perform at Bernstein
Bernstein upgraded Citigroup to Outperform following the bank's better than expected Q1 results and raised its price target for the stock to $57 from $52.
April 14, 2014
16:24 EDTCOn The Fly: Closing Wrap
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16:00 EDTCOptions Update; April 14, 2014
iPath S&P 500 VIX Short-Term Futures down 32c to 44.41. Option volume leaders: AAPL C GILD TSLA LNG NQ BAC ZNGA according to Track Data.
12:26 EDTCOn The Fly: Midday Wrap
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11:59 EDTCStocks with call strike movement; C MA
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11:16 EDTCCitigroup says one employee terminated related to fraud found in Mexico
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11:09 EDTCCitigroup says committed to improving capital planning process
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10:39 EDTCCitigroup sees lowering consumer banking headcount below 145K by end year
The company noted its headcount in consumer banking stood at 149K in Q1 and it sees the headcount to be cut to below 145K by Q4 of this fiscal year. The company sees cutting its consumer banking card products to under 440 by Q4 and lowering its branch count to under 3,525 in Q4 from 3,601 in Q1. Information from slides for earnings conference call.
10:02 EDTCOn The Fly: Analyst Upgrade Summary
Acorda Therapeutics (ACOR) upgraded to Outperform from Market Perform at FBR Capital... Allegheny Technologies (ATI) upgraded to Neutral from Underperform at Sterne Agee... BP (BP) upgraded to Buy from Hold at Canaccord... Bloomin' Brands (BLMN) upgraded to Buy from Hold at Deutsche Bank... Boardwalk Pipeline (BWP) upgraded to Neutral from Underperform at BofA/Merrill... Boston Scientific (BSX) upgraded at BofA/Merrill... Charles Schwab (SCHW) upgraded to Buy from Neutral at UBS... Citigroup (C) upgraded to Hold from Sell at Rafferty Capital... Community Health (CYH) upgraded to Outperform from Perform at Oppenheimer... Eaton Vance (EV) upgraded to Neutral from Sell at Citigroup... Eli Lilly (LLY) upgraded to Hold from Underperform at Jefferies... F5 Networks (FFIV) upgraded to Buy from Hold at Stifel... HeartWare (HTWR) upgraded to Buy from Neutral at BTIG... Heartland Payment (HPY) upgraded to Hold from Sell at Stifel... Hyatt Hotels (H) upgraded to Outperform from Market Perform at FBR Capital... MasterCard (MA) upgraded to Outperform from Neutral at RW Baird... McDermott (MDR) upgraded to Neutral from Underweight at HSBC... Palo Alto (PANW) upgraded to Overweight at Stephens... PetroChina (PTR) upgraded to Neutral from Underperform at Credit Suisse... Seagate (STX) upgraded to Buy from Hold at Argus... Sensata (ST) upgraded to Buy from Neutral at Citigroup... Stryker (SYK) upgraded to Neutral from Reduce at SunTrust... TD Ameritrade (AMTD) upgraded to Buy from Neutral at UBS... TTM Technologies (TTMI) upgraded to Buy from Hold at Stifel... Transocean (RIG) upgraded to Hold from Sell at Deutsche Bank... VMware (VMW) upgraded to Outperform from Underperform at CLSA... Visa (V) upgraded to Outperform from Neutral at RW Baird... Yahoo (YHOO) upgraded to Buy from Neutral at SunTrust... Zimmer (ZMH) upgraded to Neutral from Reduce at SunTrust... bebe stores (BEBE) upgraded to Buy from Neutral at Janney Capital.
09:38 EDTCCitigroup rallies after results, levels to watch
Shares are up over 4.1% at time of writing to $47.59 following better than expected earnings. At that price next resistance is at $48.36, a pivot high. Support is at $47.12. Rafferty Capital upgraded the stock to Hold from Sell.
09:36 EDTCActive equity options trading on open
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08:59 EDTCOn The Fly: Pre-market Movers
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08:48 EDTCCitigroup upgraded to Hold from Sell at Rafferty Capital
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08:10 EDTCCitigroup shares up 3% in pre-market trading after Q1 report
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08:09 EDTCCitigroup reports Q1 net interest margin rose to 2.9%
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08:05 EDTCCitigroup reports Q1 loan loss reserve release of $673M
Reports Q1 net credit losses of $2.4B, down 15% versus prior year period. CVA/DVA was $7M, or $4M after-tax, in the first quarter, compared to negative $319M, or negative $198M after-tax, in the prior year period. Q1 included a $210M tax charge related to corporate tax reforms enacted in two states. These reforms lowered marginal tax rates, resulting in a reduction in Citigroup’s state deferred tax assets. CEO Michael Corbat said, “Despite a quarter that was difficult for our company, we delivered strong results. Both our consumer and institutional businesses performed well and we grew both loans and deposits while holding the line on our expenses. We reduced our deferred tax assets more than any other quarter since the crisis and drove Citi Holdings closer to break even. $4B in net income helped generate $6B in regulatory capital during the quarter and increased our estimated Tier 1 Common ratio to 10.4% on a Basel III basis. Very cognizant of our shareholders desire to see a sustainable return of capital, we are engaged with the Fed to better understand their expectations regarding the CCAR process. We are committed to bringing our capital planning process to the highest possible standards, befitting an institution of our global reach. I will dedicate whatever resources and make whatever changes necessary to achieve this critical goal."
08:02 EDTCCitigroup reports estimates Basel III Tier 1 common ratio of 10.4%
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