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 | >>
January 30, 2015
08:35 EDTCCiti management to meet with UBS
Group breakfast to be held in New York on January 30 at 8:30 am hosted by UBS.
January 29, 2015
16:00 EDTCOptions Update; January 29, 2015
Subscribe for More Information
07:36 EDTCStandard Chartered CEO growing unpopular with shareholders, executives, WSJ says
Subscribe for More Information
January 28, 2015
16:56 EDTCFederal judge says FOREX manipulation case to proceed, Reuters reports
Subscribe for More Information
09:35 EDTCActive equity options trading
Subscribe for More Information
06:30 EDTCCiti unit reaches agreement with NY AG on ChexSystems data, WSJ reports
Citigroup's Citibank unit is expected to announce today that it has reached an agreement with New York Attorney General Eric Schneiderman to change its screening processes for checking and savings accounts to be more forgiving of customers' histories, The Wall Street Journal reports. The new rules, which will begin on March 15, will change how the bank uses information from consumer-reporting agency ChexSystems. Reference Link
January 27, 2015
16:00 EDTCOptions Update; January 27, 2015
iPath S&P 500 VIX Short-Term Futures up 1.40 to 32.01. Option volume leaders: AAPL TSLA TWTR AMZN FB MSFT X RIG YHOO C GILD according to Track Data.
09:36 EDTCActive equity options trading
Active equity options trading according to Track Data: AAPL MSFT TWTR TSLA GILD NFLX C AA HPQ X
07:03 EDTCCiti Foundation CEO Pam Flaherty to retire, WSJ says
Pam Flaherty, Citigroup veteran since 1968 and current head of Citi's charitable foundation, will retire Friday, the Wall Street Journal reports. Citi Foundation COO Brandee McHale is expected to succeed Flaherty. Reference Link
January 26, 2015
12:49 EDTCFederal Reserve discloses plan to improve U.S. payment system, WSJ reports
The Federal Reserve released a plan that would improve the U.S. payment system, saying the current outlook, which covers banking, checking, credit cards and online transactions is fragmented and outdated with respect to new technologies that may harm consumers, the Wall Street Journal reports. The Federal Reserve invited banks, credit card companies and payment processors to coordinate efforts. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
January 23, 2015
14:33 EDTCCiti CEO Corbat denies rumors of selling subsidiary Banamex, Forbes reports
Subscribe for More Information
07:23 EDTCBass does not expect large U.S. banks to break up
Publicly traded companies in the space include Bank of America (BAC), Citi (C), JPMorgan (JPM), and Wells Fargo (WFC). Kyle Bass of Hayman Capital continues speaking on CNBC.
07:08 EDTCNorwegian Statoil seeks to cut costs as oil prices drop, WSJ says
Subscribe for More Information
06:42 EDTCU.S. banks preparing for prolonged low bond yields, Reuters says
Subscribe for More Information
January 22, 2015
15:26 EDTCCiti to hold a conference call
4Q14 Fixed Income Investor Review conference call to be held on January 23 at 11 am. Webcast Link
January 21, 2015
16:00 EDTCOptions Update; January 21, 2015
iPath S&P 500 VIX Short-Term Futures down 1.63 to 33.49. Option volume leaders: AAPL TSLA TWTR AMZN FB RIG C ABX SIRI NFLX according to Track Data.
January 20, 2015
16:00 EDTCOptions Update; January 20, 2015
iPath S&P 500 VIX Short-Term Futures down 36c to 35.12 Option volume leaders: AAPL TSLA TWTR GILD NFLX MGM ABX AMAT JNJ C according to Track Data.
09:38 EDTCActive equity options trading
Subscribe for More Information
January 18, 2015
16:57 EDTCCiti may have lost more than $150M on Swiss franc volatility, Bloomberg says
Subscribe for More Information
15:14 EDTCMashreqbank interested in Citigroupís Egyptian consumer unit, Bloomberg says
Dubai-based bank, Mashreqbank PSC confirmed it is interested in acquiring Citigroupís Egyptian consumer banking unit, says Bloomberg citing comments from Mashreqbank PSC CEO Abdul Aziz Al Ghurair. Reference Link
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