News
C
58.44
+0.46%
0.27
Citi Post Q1: I Like The Cost Cuts
Seeking Alpha · 12h ago
Ibotta IPO jumps as investors continue to buy into AI hype
Shares of digital marketing firm Ibotta IPO jumps 33% on Thursday. The company raised $577M in its initial public offering. The Denver-based company uses an artificial intelligence-infused offer engine to offer cash back rewards to consumers. The IPO was oversubscribed and valued the company at $2.7B.
Seeking Alpha · 13h ago
Comerica (CMA) Q1 Earnings Beat Estimates, Revenues Fall Y/Y
NASDAQ · 14h ago
FACTBOX-What to expect in 2024: Forecasts for GDP, inflation and other assets
Major banks release forecasts for global growth, inflation and other assets in 2024. HSBC, BofA Global Research, Wells Fargo Investment Institute provide forecasts for 2024. Forecasts come as major central banks across the globe have indicated interest rate cuts this year. U.S. Consumer prices are expected to rise more than expected in March.
Reuters · 15h ago
US judge in credit card fee rule case doesn't have to recuse, panel says
US judge in credit card fee rule case doesn't have to recuse, panel says. Don Willett's son owns Citigroup stock. Willett is a judge in a case challenging a rule capping credit card late fees at $8. The Consumer Financial Protection Bureau had said he should recuse himself.
Reuters · 16h ago
Why You Should Be a HODLer of Gold
Gold is up about 15% year-to-date. The precious metal has broken out of the range it's been in since the start of the year. China has been quietly diversifying its foreign reserves away from U.S. Treasuries and into gold. The world's central banks are buying massive amounts of gold.
Barchart · 16h ago
CEO Uncertainty Spikes After Improving Last Quarter
Banks kicked off Q1 2024 earnings season with mixed results. The LERI shows corporate uncertainty ticking back up after falling in Q4. Inflation, Geopolitical Tensions and the Fed continue to be headwinds. CEO Uncertainty Spikes After Improving in the Last Quarter.
Seeking Alpha · 18h ago
First Horizon (FHN) Q1 Earnings Beat Estimates, Stock Rises
NASDAQ · 18h ago
CORRECTED-BREAKINGVIEWS-Wells Fargo has worn its dunce cap long enough
Wells Fargo was prohibited from getting bigger for a series of flagrant customer abuses. John Foley says the bank has worn its dunce cap long enough. He says the $2 trillion cap on assets is costly to Wells Fargo. The bank missed out on $540 billion of deposit growth, he says.
Reuters · 18h ago
EXCLUSIVE-Abu Dhabi Islamic Bank in talks to buy $1.1 bln stake in Indonesian lender, sources say
Abu Dhabi Islamic Bank in talks to buy $1.1 bln stake in Indonesian lender, sources say. Sources say Abu Dhabi's largest Islamic bank is in discussions to buy a 15% stake in Bank Syariah Indonesia. The deal could tap into a fast-growing market in Southeast Asia. BSI shares surged as much as 5.6% on Thursday.
Reuters · 1d ago
Walmart-backed Ibotta targets up to $2.7 bln valuation in US IPO
Walmart-backed Ibotta targets up to $2.7 bln valuation in US IPO. Digital marketing company will likely raise $577.3 million in its IPO. The company plans to sell 6.6 million shares of its class A common stock at $88 apiece.
Reuters · 1d ago
Discover Financial's profit falls on higher loan loss provisions
Discover Financial's profit falls on higher loan loss provisions. The lender set aside more in rainy-day funds to cover for potential credit losses. U.S. Banks have increased their provisions for losses from bad loans as interest rates rise. Discover agreed to be acquired by Capital One Financial in a $35.3 billion deal.
Reuters · 1d ago
Market Reaction To Bank Earnings Is Mixed, JPMorgan Analysts Project Further Decline In Net Interest Income
U.S. Financial sector has seen mixed investor reactions to recent earnings releases. Citigroup Inc and Wells Fargo reported earnings on April 12. Citizens Financial Group reported a beat on EPS but a miss on revenue on Wednesday. JPMorgan Chase anticipates a challenging quarter for banks. The Fed delaying the rate cut decision has muted market sentiment.
Benzinga · 1d ago
Noteworthy Wednesday Option Activity: AI, GWW, C
NASDAQ · 1d ago
Citizens Financial (CFG) Q1 Earnings Miss Estimates, Costs Rise
NASDAQ · 1d ago
Morgan Stanley, HSBC said to cut Asia investment-banking jobs
Seeking Alpha · 1d ago
How to Boost Your Portfolio with Top Finance Stocks Set to Beat Earnings
NASDAQ · 1d ago
Morgan Stanley and HSBC Cut Asia-Pacific Jobs Amid Slowing Deals.
TipRanks · 1d ago
BUZZ-APi Group drops on stock offering
APi Group Corp's AGP.N shares down 5.1% at $37.11 premarket after follow-on priced. Co announces 11 mln shares for $412.5 million in stock offering. APi also announced purchase of elevator/escalator services firm Elevated Facility Service.
Reuters · 1d ago
Banks falling behind on messaging app scrutiny, survey finds
Survey finds banks falling behind on monitoring and archiving of all business-related communications using personal messaging apps. 63% of compliance executives say they are monitoring staff usage of WhatsApp for compliance purposes. Just 27% said they are investing in communications surveillance capabilities, survey finds. Banks fall behind on messaging app scrutiny, compliance firm SteelEye says.
Reuters · 1d ago
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About C
Citigroup Inc. is a diversified financial services holding company. Its segments include Services, Markets, Banking, U.S. Personal Banking (USPB) and Wealth. Services segment includes treasury and trade solutions (TTS) and securities services. TTS provides an integrated suite of tailored cash management, trade and working capital solutions to multinational corporations, financial institutions and public sector organizations. Markets segment provides corporate, institutional and public sector clients around the world with a full range of sales and trading services across equities, foreign exchange, rates, spread products and commodities. Banking segment includes investment banking, which supports client capital-raising needs to help strengthen and grow their businesses. USPB segment includes branded cards and retail services, which have proprietary card portfolios and co-branded card portfolios. Wealth includes private bank, wealth at work and Citigold and provides financial services.