Market Updates: Citigroup (NYSE:C), Exxon Mobil (NYSE:XOM), United Technologies (NYSE:UTX), Visa (NYSE:V)

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Shares of Citigroup (NYSE:C) rose more than 1% in preopen trade on Thursday ahead of the company chief executive officer’s address to a financial services conference in New York. Late Wednesday, the Financial Times newspaper reported that Citi CEO Vikram Pandit will suggest the core business’s earnings could reach as much as $20 billion in a few years. The report said the CEO will not make a specific estimate, but will detail the bank’s strategy and earnings potential. –MarketWatch

Exxon Mobil (NYSE:XOM) will be holding its annual meeting. Exxon may outline its capital spending and stock buyback plan, analysts say. United Technologies (NYSE:UTX) said its board authorized buying back up to 60 million shares of the company’s common stock. Visa (NYSE:V) is also holding its first investor day presentation on Thursday. Analysts believe it could help lift the stock, as executives discuss long-term growth prospects as well as short-term trends. –Daily Finance

The trade deficit in the U.S. unexpectedly narrowed in January as demand for foreign oil and automobiles dropped. The gap decreased 6.6 percent to $37.3 billion from a revised $39.9 billion in December as Americans imported the fewest barrels of crude oil in a decade, Commerce Department figures showed today in Washington. Exports decreased 0.3 percent, the first decline since April, on fewer shipments of commercial aircraft and autos. -Bloomberg

HSBC Holding PLC’s Swiss private bank on Thursday issued a public apology to its clients for the theft of 15,000 sets of client data, allegedly by Herve Falciani, a former employee who had access to client names. "We deeply regret this situation and unreservedly apologize to our clients for this threat to their privacy," Alexandre Zeller, chief executive of the Swiss unit, told reporters. The stolen data, which involves accounts opened at HSBC in Switzerland before October 2006, represents a far wider portion of HSBC’s Swiss bank clients—roughly 15%—than the bank originally disclosed. –The Wall Street Journal


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