New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 16, 2013
14:08 EDTCEarnings Preview: Citigroup to report results after naming new CEO
Citigroup (C) is scheduled to report Q4 earnings before the open on Thursday, January 17, with a conference call scheduled for 11:00 am ET. Citigroup is a bank that provides a wide array of financial services. EXPECTATIONS: Analysts are looking for EPS of 96c on revenue of $18.82B, according to First Call. The consensus range for EPS is 84c-$1.09 on revenue of $16.49B-$19.57B. LAST QUARTER: Citigroup reported Q3 EPS of $1.06 -- excluding certain items related to the valuation of derivatives -- against estimates for 96c, on revenue of $19.41B against estimates for $18.35B. Last quarter the bank's fixed income jumped 63% year-over-year, but its global consumer banking revenue increased just 2% and its overall securities and banking revenue fell 29% Citigroup stated that it was managing its risks "very carefully," and predicted that its net interest margin would remain pressured in the fourth quarter, but added that it expected to benefit from strong mortgage refinancing trends in the fourth quarter. In November former Citigroup CEO Vikram Pandit resigned after reportedly clashing with the bank's board over management issues. The board selected Michael Corbal, who was serving as Citigroupís CEO of Europe, Middle East and Africa, to replace Pandit. The bank on December 5 announced that it would cut 11,000 positions and on January 7 named two co-presidents, Jamie Forese and Manuel Medina-Mora. Forese is heading the bank's institutional businesses, while Medina-Mora is overseeing its Global Consumer Banking and its franchise in Mexico. Also on January 7 Citigroup estimated that it would take a pretax charge of $305M to settle charges of mortgage foreclosure improprieties. STREET RESEARCH: Several research firms have issued optimistic notes about Citigroup in recent weeks. On January 7 Wells Fargo added Citigroup to its Priority Stock List. Wells upgraded the stock because of what it sees as the bank's diversified fee revenue streams,ability to realize operating leverage gains, improving capital return, and ability to obtain above average returns from a late stage credit recovery. RBC Capital on January 9 increased its price target on Citigroup to $48 from $44. Although RBC lowered its estimates for the bank to reflect lower expected capital markets revenue from fixed income trading, the firm expects the stock to be supported by cost cutting and the continuing recovery of the U.S. economy. It maintained an Outperform rating on the shares. PRICE ACTION: Over the last three months, Citigroup's stock has risen over 14% to above $42, after reaching a trough of ~$34 in early December.
News For C From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent C news | >>
November 19, 2014
07:37 EDTCCitigroup to hold a conference
Global Financial Conference is being held in Singapore on November 19-20.
November 17, 2014
14:16 EDTCCitigroup reports October credit loss 2.18% vs. 2.53% last month
Subscribe for More Information
November 12, 2014
16:23 EDTCOn The Fly: Closing Wrap
Subscribe for More Information
12:38 EDTCOn The Fly: Midday Wrap
Subscribe for More Information
10:14 EDTCOCC fines Bank of America, Citigroup, JPMorgan $950M over FX trading
Subscribe for More Information
10:07 EDTCCitigroup to pay $1.02B to settle foreign exchange investigations
Subscribe for More Information
10:06 EDTCCitigroup announces foreign exchance settlements
09:37 EDTCActive equity options trading
Active equity options trading according to Track Data: AAPL CLSN TWTR BABA NFLX TSLA AMZN CSIQ C
08:57 EDTCBarclays excluded from forex settlement due to issues with NYDFS, Reuters says
Subscribe for More Information
08:13 EDTCBoston Biotech to hold a conference
Subscribe for More Information
08:07 EDTCMacy's, Citi Retail Services renew card agreement
Subscribe for More Information
07:28 EDTCBofA/Merrill to hold a conference
Subscribe for More Information
06:12 EDTCCFTC fines five banks $1.4B for manipulation of FX benchmark rates
Subscribe for More Information
06:05 EDTCFCA fines five banks $1.7B over FX trading operations
Subscribe for More Information
November 11, 2014
14:30 EDTCBanks to be hit with billions in fines for currency manipulation, Telegraph says
Subscribe for More Information
09:37 EDTCActive equity options trading
Subscribe for More Information
07:14 EDTCJudge allows Citigroup to process next Argentina bond payout, Reuters reports
Subscribe for More Information
November 10, 2014
06:46 EDTCRegulators set new capital buffer rule for banks, Reuters reports
Global banks should have buffers of bonds or equity worth 16%-20% of their risk-weighted assets, beginning in January 2019, The Financial Stability Board decided, according to Reuters. The board said the buffer would prevent the need for government bailouts, the news service explained. Publicly traded global banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) Wells Fargo (WFC), 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
06:37 EDTCSumitomo Mitsui in lead for Citigroup's Japan retail operations, WSJ reports
Subscribe for More Information
06:18 EDTCUBS to settle misconduct allegations at precious metals trading unit, FT reports
Subscribe for More Information
1 | 2 | all recent C 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