Citi posts $1.3 billion profit as losses and revenues fall
Citigroup Inc posted a $1.3 billion quarterly profit on Tuesday, as losses on bad loans fell, but the bank missed estimates on its earnings as it struggled with a slump in revenue.
Top Pre-Market Earnings on Jan. 18
The companies that reported earnings before the markets opened on Tuesday are: Citigroup, Forest Laboratories, Comerica, Delta Air Lines and TD Ameritrade.
Citi posts $1.3 billion profit as revenues fall
Citigroup Inc posted a $1.3 billion quarterly profit on Tuesday, as losses on bad loans fell, but the bank missed estimates on its earnings as it struggled with a slump in investment banking revenue.
Citigroup set to post fourth quarterly profit
Citigroup Inc, the bank that took $45 billion in U.S. bailout funds during the financial crisis, is widely expected to report its fourth consecutive quarterly profit on Tuesday, signaling to investors that it has largely completed its recovery.
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Banks entering 'Golden Age': Bove
High-profile banking analyst Richard Bove said the U.S. banking sector is entering into a “golden age.” The financial strategist at Rochdale Securities explains that banks have so flush cash on their balance sheets that corporate earnings will grow by 20 percent annually over the next few years.
Markets flat as JPMorgan results offset Intel
U.S. stocks were little changed on Friday following a mixed reaction to earnings from JPMorgan and Intel and a modest rise in retail sales, but the S&P remained on track to notch a seventh straight week of gains.
JPMorgan profit beats, helped by reserve release
JPMorgan Chase & Co reported higher-than-expected quarterly earnings, helped by narrowing losses on bad loans that allowed it to release $2 billion of reserves.
Post-Market NASDAQ Movers (CPIX, SBIB, ACOR, RDNT, MOVE, CSTR, HAWK, TSTC, SHFL, SORL)
The top after-market NASDAQ stock market gainers are: Cumberland Pharmaceuticals, Sterling Bancshares, Acorda Therapeutics, RadNet, and Move. The top after-market NASDAQ stock market losers are: Coinstar, Seahawk Drilling, Telestone Technologies, Shuffle Master, and SORL Auto Parts.
Tata Steel says will hold on to Riversdale
Tata Steel, the world's seventh-largest steel maker, said on Friday that it would hold on to its shares in Australian miner Riversdale, calling it a strategic stake.
S.Africa's Standard Bank to boost brokerage
The stockbroking arm of South Africa's Standard Bank is looking to boost its headcount, including equity analysts, following the end of a joint venture with Credit Suisse, senior executives said on Thursday.
Banks lead Wall Street up, appetite for equities rises
Stocks ended solidly higher on Wednesday after European debt fears eased and sparked a broad advance, led by banks and commodity-related shares.
Whitney forecasts 'indiscriminate selling” in muni bonds, reiterates default warnings
Analyst Meredith Whitney, who has faced enormous criticism over her dire warnings about the likelihood of up to 100 U.S. municipalities defaulting this year, reiterated her call. She further warned that when the defaults commence, the muni bond market will witness a massive exodus.
Tech firms likely to report robust quarterly earnings
Export-driven software services companies are set to report robust growth in quarterly earnings and a firm outlook, driven by an expected increase in clients' technology budgets.
Top After-Market NYSE Movers (NLS, KKR, SYK, LEN, GMT, JOE, CBZ, HW, AMD, MWE, AA)
The top after-market NYSE gainers on Monday are: Nautilus, KKR & Co, Stryker, Lennar and GATX. The top after-market NYSE losers on Monday are: The St. Joe Co, CBIZ, Headwaters, Advanced Micro Devices, MarkWest Energy and Alcoa.
SEC probing official in Citigroup settlement: report
The Securities and Exchange Commission's internal watchdog is reviewing an allegation that Robert Khuzami, the agency's top enforcement official, gave preferential treatment to Citigroup Inc executives in the agency's $75 million settlement with the firm, Bloomberg reported on Monday.
Regulatory costs loom over Q4 U.S. bank earnings
The biggest U.S. banks have stepped away from the brink of failure, but fourth-quarter earnings will likely show the financial crisis continues to weigh on profits.
Government to audition bankers for AIG offering: report
The government will audition bankers to manage a public offering of its stake in insurer American International Group , according to a report on Saturday in the Wall Street Journal.
COLUMN: Daley appointed as CoS, JPMorgan the new Goldman Sachs?
Politicians now prefer to appoint JPMorgan executives to highly-visible positions rather than risk public outrage by choosing their Goldman Sachs counterparts.
Interview: BB&T CEO Kelly King on taking advantage of the financial crisis
BB&T CEO Kelly King speaks to IBTimes about taking advantage of the financial crisis (because of its status as a healthy bank) and the difference between BB&T and national banks like Citigroup.
Wall Street futures fall ahead of U.S. payrolls
U.S. stock index futures edged down on Friday, as caution prevailed ahead of the release of U.S. non-farm payroll figures, with futures for the S&P 500, the Dow Jones and the Nasdaq down 0.1 to 0.2 percent by 4:42 a.m. ET.
Top 10 greatest trades of all time
IBTimes compiles a list of the greatest trades of all time with accompying information that explains the rankings.
Top Pre-Market NASDAQ Gainers (LXRX, ARMH, XOMA, MVIS, GLUU, GOLD)
The top pre-market NASDAQ stock market gainers on Thursday are: Lexicon Pharmaceuticals, ARM Holdings, XOMA, Microvision, Glu Mobile and Randgold Resources.
Oppenheimer loses $18 million raid claim against Citi
After almost eight years, Oppenheimer & Co has lost its battle to force Citigroup Inc to pay over $18 million for luring away nine of its top financial advisers.
Citibank fraud case: India police file FIR against CEO Vikram Pandit, CFO Gerspach
Gurgaon police on Tuesday registered a first information report (FIR) against Indian-born global chief executive of Citigroup Vikram Pandit and ten others in the $80 million Citibank fraud case in the north Indian state of Haryana.
Top lenders set for foreclosure settlement: report
The five largest mortgage loan servicers, including Bank of America Corp and JPMorgan Chase & Co, may be the first to settle with 50 state attorneys general who are investigating foreclosure practices, Bloomberg reported, citing Iowa Attorney General Tom Miller.
NYC tops London for real estate investors
The U.S. real estate market is improving, at least for foreign investment dollars, according to the Association for Foreign Investment in Real Estate, or AFIRE.
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