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Stock Market & Financial Investment News

News Breaks
March 18, 2013
18:04 EDTCCitigroup announces settlement in bond class action suit
Citigroup announced it has agreed, subject to court approval, to settle a class action lawsuit brought on behalf of investors who purchased Citigroup debt and preferred stock during the period May 11, 2006, through November 28, 2008. Under the terms of the proposed settlement, Citi would pay a total of $730M. Plaintiffs in the class action had contended, among other things, that they were misled by misstatements and omissions in the company's disclosures during this period. Citigroup denies the allegations and is entering into this settlement solely to eliminate the uncertainties, burden and expense of further protracted litigation. The amount to be paid under the proposed settlement is covered by Citi's existing litigation reserves.
News For C From The Last 14 Days
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April 14, 2014
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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08:00 EDTCCitigroup reports Q1 EPS ex CVA/DVA $1.30, consensus $1.14
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06:59 EDTCCitigroup says client information leaked at Korean credit units, Bloomberg says
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April 13, 2014
19:07 EDTCCitigroup to eliminate another 200 to 300 jobs, WSJ says
Citigroup has eliminated another 200 to 300 jobs including Steve Prince, the younger brother of former CEO Charles Prince, says the Wall Street Journal. According to the Wall Street Journal report, a Citigroup spokeswoman said the bank is continuing to "tightly manage expenses, making targeted head count reductions in light of current market conditions." Reference Link
April 11, 2014
15:20 EDTCNotable companies reporting before Monday's open
Notable companies reporting before Monday's open, with earnings consensus, include Citigroup (C), consensus $1.14, and M&T Bank (MTB), consensus $1.61.
10:25 EDTCCitigroup to host conference call
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09:37 EDTCActive equity options trading on open
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07:37 EDTCGoldman, Morgan, Citi probed by FINRA over bond deals, WSJ says
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07:09 EDTCLi & Fung collaborates with Citigroup on brand unit spinoff, Bloomberg says
Li & Fung (LFUGF)) is said to be collaborating with Citigroup (C) to spin off its brands division, which is valued at nearly $2B, according to Bloomberg, citing people with knowledge of the matter. The company's brand unit sells clothing and toys to retailers such as Wal-Mart (WMT) and Kohl's (KSS). Reference Link
07:03 EDTCCitigroup volatility increases into Q1and capital outlook
Citigroup April call option implied volatility is at 43, May is at 27, June is at 25; compared to its 26-week average of 25 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on April 14.
06:20 EDTCCitigroup unit in California facing DOJ probe, WSJ reports
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April 10, 2014
16:00 EDTCOptions Update; April 10, 2014
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09:37 EDTCActive equity options trading on open
Active equity options trading on open according to Track Data: SIRI RAD AAPL AMZN AA FB TSLA MRK CVX C
06:35 EDTCMobile banking presents opportunity and risks for banks, WSJ reports
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