SubscribeAll Posts Tagged With: "Citigroup (NYSE:C)"
Market Updates: JPMorgan Chase (NYSE:JPM), Citigroup (NYSE:C), Potash Corp. of Saskatchewan (NYSE:POT), Ann Taylor (NYSE:ANN)
A court-appointed examiner said demands from JPMorgan Chase (NYSE:JPM) and Citigroup (NYSE:C) for collateral helped to drive Lehman Brothers into bankruptcy. In other news, Potash Corp. of Saskatchewan (NYSE:POT) sharply raised its first-quarter forecast on Thursday, citing a sharp rebound in demand for potash — a key crop nutrient. Shares jumped over 7% before the bell. Also, Ann Taylor (NYSE:ANN) on Friday swung to a fourth-quarter profit even as sales fell 3% after it controlled inventory and revamped merchandise to help sell more products at full price. Shares declined 1.8% even though the company forecast a strong…
12Mar2010 | Jutia Group | 1 comment | ContinuedMarket Updates: Citigroup (NYSE:C), Exxon Mobil (NYSE:XOM), United Technologies (NYSE:UTX), Visa (NYSE:V)
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…
Market Updates: Citigroup (NYSE:C), New York Mellon (NYSE:BK), Kraft Foods (NYSE:KFT), Ford Motor (NYSE:F)
Citigroup (NYSE:C) Gary Shedlin, an adviser to financial clients including BlackRock Inc.’s Laurence Fink, is departing to join Morgan Stanley, said a person with knowledge of the matter. Shedlin, 46, was most recently chairman of Citigroup’s investment-banking effort for financial institutions, focusing on client relationships. He notified Citigroup of his plans recently, said the person, who spoke on condition of anonymity because the move hasn’t been announced. Citigroup is losing a banker who helped NYSE Group Inc. create the first transatlantic securities market with its 9 billion euro ($12 billion) purchase of Euronext NV, and who has…
8Mar2010 | Jutia Group | 0 comments | ContinuedMarket Updates: Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC), Citigroup (NYSE:C)
Fannie Mae and Freddie Mac may force lenders including Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC) and Citigroup (NYSE:C) to buy back $21 billion of home loans this year as part of a crackdown on faulty mortgages. U.S. banks could suffer losses of $7 billion this year when those loans are returned and get marked down to their true value, according to estimates by Oppenheimer & Co. analyst Chris Kotowski. Fannie Mae and Freddie Mac, both controlled by the U.S. government, stuck the four biggest…
5Mar2010 | Jutia Group | 1 comment | ContinuedMarket Updates: Citigroup (NYSE:C), JPMorgan Chase (NYSE:JPM), Goldman Sachs Group (NYSE:GS), Merck (NYSE:MRK)
Citigroup (NYSE:C) CEO Vikram Pandit will testify before the congressional panel charged with overseeing the government’s bank bailout. He plans to tell U.S. taxpayers that he’s grateful for the $45 billion bailout that helped stave off a deposit run at the bank in 2008, according to a Bloomberg story which cites a person close to the company. In other news, JPMorgan Chase (NYSE:JPM) was the top investment bank in 2009, according to data compiled by Bloomberg. Goldman Sachs Group (NYSE:GS) was No. 2 in total fees and No. 1 in mergers…
4Mar2010 | Jutia Group | 1 comment | ContinuedMarket Updates: Citigroup (NYSE:C), Costco Wholesale (NASDAQ:COST), Pfizer (NYSE:PFE), Qualcomm (NASDAQ:QCOM)
Primerica Inc., an insurance unit owned by Citigroup (NYSE:C) that’s planning an initial public offering, said it agreed to sell $230 million of stock to Warburg Pincus & Co. Primerica would sell the shares at a 5 percent discount to the unit’s book value at the end of last year, according to a regulatory filing. Warburg Pincus, the New York-based private equity fund, holds the right to purchase an additional $100 million in shares at the IPO, Primerica said. -Bloomberg
Strong overseas sales growth and increased gasoline prices boosted Costco Wholesale (NASDAQ:COST) revenue in the second…
3Mar2010 | Jutia Group | 1 comment | ContinuedMarket Updates: Citigroup (NYSE:C), PepsiCo (NYSE:PEP), Dish Network (NASDAQ:DISH), Google (NASDAQ:GOOG), Microsoft (NASDAQ:MSFT)
Italy’s budget deficit almost doubled last year as the economy shrank the most since World War II. The shortfall rose to 5.3 percent of gross domestic product compared with 2.7 percent in 2008. Italy is a “less risky fiscal sinner” than Greece or Spain because of its lower deficit, higher private savings and “still apparently strong” fiscal policies, which all “limit the sovereign risk” to the country, Michael Saunders and other economists at Citigroup (NYSE:C) in London said last month. -Bloomberg
PepsiCo (NYSE:PEP) said Monday it continues to expect 2010 through 2012 core…
Market Alert: Citigroup (NYSE:C), Wynn Resorts (NASDAQ:WYNN), Apple (NASDAQ:AAPL), JPMorgan Chase (NYSE:JPM), Lamar Advertising (NASDAQ:LAMR)
Bulgaria picked Citigroup (NYSE:C) Global Markets Inc. to advise the government on its fourth attempt in a decade to sell Bulgartabak Holding, the country’s dominant tobacco company. Citigroup won the mandate against bids from KBC Securities, Raiffeisen Investment AG and Renaissance Securities, the government’s Privatization Agency said on its Web Site. The Bulgarian government controls 80 percent of Bulgartabak, which has six units, including four cigarette makers and a trading division. The company sold four of its factories in auctions on the Bulgarian Stock Exchange in the last three years. –Bloomberg
Wynn Resorts (…
Market Roundup: Citigroup (NYSE:C), Toyota (NYSE:TM), Toll Brothers (NYSE:TOL), Goldman Sachs (NYSE:GS), H&R Block (NYSE:HRB)
Citigroup (NYSE:C) is reportedly in talks to sell a hedge-fund business with about $4 billion in assets. Citigroup is in advanced talks to sell its fund-of-funds business to SkyBridge Capital, a New York alternative-asset manager. –UB News
Toyota (NYSE:TM) CEO Akio Toyoda says the company grew too fast to keep up with safety controls. He is apologizing Wednesday before a House committee investigating deadly flaws that sparked the recall of 8.5 million cars. Other news, Toll Brothers (NYSE:TOL) posted on Wednesday a narrower fiscal first quarter loss of $40.8 million, or 25 cents a share,…
Market Updates: Citigroup (NYSE:C), Palm (NASDAQ:PALM), Bank of America (NYSE:BAC), Target Corporation (NYSE:TGT), Home Depot (NYSE:HD)
Citigroup (NYSE:C) said it hired Keshav Sanghi and eight others to boost its India equity business, according to an e-mailed statement from the bank. Sanghi, who joined Citigroup as deputy equity head in India, was earlier the chief executive officer at Reliance Equities International Pvt. “India is a high priority market for the Asia Pacific region,” Nikhil Nagle, head of equities at Citigroup Global Markets India, was quoted as saying, according to the statement.
Palm (NASDAQ:PALM) shares dropped some 6% ahead of the bell after Bank of America (NYSE:BAC) downgraded the stock…
23Feb2010 | Jutia Group | 0 comments | Continued
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