C - Citigroup Inc.
72.55 +0.09 (0.12%)
After hours: 7:59PM EDT
| Previous Close | 72.06 |
| Open | 71.90 |
| Bid | 72.45 x 4000 |
| Ask | 72.50 x 3200 |
| Day's Range | 71.73 - 72.47 |
| 52 Week Range | 48.42 - 73.08 |
| Volume | 10,026,304 |
| Avg. Volume | 13,666,326 |
| Market Cap | 158.173B |
| Beta (3Y Monthly) | 1.89 |
| PE Ratio (TTM) | 9.62 |
| EPS (TTM) | 7.53 |
| Earnings Date | Jan 14, 2020 |
| Forward Dividend & Yield | 2.04 (2.83%) |
| Ex-Dividend Date | 2019-08-02 |
| 1y Target Est | 82.85 |
- Bloomberg
Oil Climbs After Surprise Decline in U.S. Crude Stockpiles
(Bloomberg) -- Oil touched $56 a barrel for the first time in almost a month after a surprise drop in U.S. crude supplies signaled strengthening demand.Futures rose 2.7% in New York on Wednesday, the biggest increase since the Saudi Attacks five weeks ago. The Energy Information Administration reported that American crude inventories fell by 1.7 million barrels last week and gasoline stockpiles shrank more than forecast. Imports of foreign crude slumped to the lowest in more than two decades.“There’s a fair bit to like in this report,” said Matt Sallee, portfolio manager at Tortoise, a Kansas firm that oversees more than $21 billion in assets. “We view inventories moving lower from here.”Oil has been under pressure since late April as the U.S.-China trade war dented the demand outlook and global supplies swelled. Earlier this month, OPEC Secretary-General Mohammad Barkindo said the group would do “whatever it takes” to prevent another oil slump.West Texas Intermediate crude for December delivery rose $1.49 to settle at $55.97 a barrel on the New York Mercantile Exchange. The front-month contract last topped the $55 mark on September 27.Brent for December settlement rose $1.47 to close at $61.17 on the London-based ICE Futures Europe Exchange. The global benchmark crude traded at a $5.20 premium to WTI.On a seasonal basis, American gasoline demand is at its highest since at least 1991, the EIA report indicated. “That’s showing the strength of the U.S. economy,” Sallee said.To contact the reporter on this story: Jacquelyn Melinek in New York at jmelinek@bloomberg.netTo contact the editors responsible for this story: David Marino at dmarino4@bloomberg.net, Catherine Traywick, Christine BuurmaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Business Wire
Citi, OPIC and Ford Foundation Launch Scaling Enterprise, a $100MM Financing Partnership to Support Social Enterprises
Citi Inclusive Finance, the Overseas Private Investment Corporation (OPIC) and the Ford Foundation today introduced Scaling Enterprise, a $100 million loan guarantee facility, which will enable Citi to provide early-stage financing in local currency to companies that expand access to products and services for low-income communities in emerging markets. Loans and working capital in local currency and at affordable rates can enable early-stage social impact companies to achieve scale, greater efficiencies and lower costs. Scaling Enterprise will facilitate vital growth financing to eligible companies that are expanding access to finance, agriculture, energy, affordable housing, water and sanitation to low-income households in emerging markets.
- Zacks
Financial ETFs Gain Despite Mixed Earnings
Steepening yield curve boosted financial ETFs in October despite mixed earnings.
- Reuters
Morgan Stanley elbows out rivals for plum role in $1.5 billion IPO relaunch - sources
Morgan Stanley has usurped rivals including Deutsche Bank, Citigroup, Credit Suisse and Goldman Sachs to lead the relaunch of a $1.45 billion IPO - Hong Kong's second-largest this year - in an unusually brutal shuffling of banks' roles on a big deal. The Wall Street bank was approached by ESR Cayman and its main backer, Warburg Pincus, in August to develop a rescue plan for ESR's initial public offering (IPO), according to two sources involved in the transaction, after the industrial property investor was forced to pull its original planned float in June.
- Reuters
Morgan Stanley elbows out rivals for plum role in $1.5 billion IPO relaunch: sources
Morgan Stanley has usurped rivals including Deutsche Bank, Citigroup, Credit Suisse and Goldman Sachs to lead the relaunch of a $1.45 billion IPO - Hong Kong's second-largest this year - in an unusually brutal shuffling of banks' roles on a big deal. The Wall Street bank was approached by ESR Cayman and its main backer, Warburg Pincus, in August to develop a rescue plan for ESR's initial public offering (IPO), according to two sources involved in the transaction, after the industrial property investor was forced to pull its original planned float in June.
- Business Wire
Citigroup Declares Common Stock Dividend; Citigroup Declares Preferred Dividends
The Board of Directors of Citigroup Inc. today declared a quarterly dividend on Citigroup’s common stock of $0.51 per share, payable on November 22, 2019 to stockholders of record on November 4, 2019.
- Bloomberg
Pound Suffers Setback After 8% Rally as Brexit Deal Put on Hold
(Bloomberg) -- Sign up to our Brexit Bulletin, follow us @Brexit and subscribe to our podcast.The pound weakened against all its major peers as U.K. lawmakers rejected Prime Minister Boris Johnson’s plan to fast-track his Brexit accord through parliament.After a rally of more than 8% since early September, currency strategists had predicted that only a win for the government would enable sterling to extend its gains. Many said losses would be limited in the event of a defeat, since the risks of a no-deal exit from the European Union had already been largely neutralized.In the event, sterling slid as much as 0.8% against the dollar before recovering from its intra-day low. The decline was contained as the government won an initial vote on the deal and Johnson opened the door to a potential extension to an Oct. 31 deadline, after earlier threatening to throw out the deal if lawmakers rejected his plans. Citigroup Inc. analysts said the lower pound created a buying opportunity.“For now it seems the market is still generally expecting this is a setback, but not a fatal setback, to a negotiated Brexit,” said Jeremy Stretch, head of G-10 currency strategy at Canadian Imperial Bank of Commerce. “There hasn’t been a rapid uptick in no-deal pricing at this point.”Parliament’s vote to reject the planned schedule makes it virtually impossible for Johnson to get his agreement ratified by the end of the month. Still, the two votes taken together potentially move the U.K. even further from a no-deal scenario, while also raising the chances of an extension to the deadline. Another possibility is a general election to try to break a parliamentary deadlock.“The market simply wants some degree of certainty at this stage, and if an election is part of that journey, it will accept that,” said Shahab Jalinoos, global head of foreign-exchange strategy at Credit Suisse. “The alternative is that PM Johnson agrees to the delayed timetable for this bill, which is also unlikely to be upsetting to the market at this point.”The U.K. currency had stayed in a tight range in Tuesday’s session before the vote, trading close to its average level since the Brexit referendum in 2016, based on Bloomberg’s British Pound Index. It was at $1.2897 at 9:21 p.m. London time, after touching $1.1959 on Sept. 3.For strategists at Citigroup, there’s room for it to build on those gains.“We would buy dips -- our view remains that Johnson is not a no-deal Brexiteer and that no-deal risk on Oct. 31, or indeed ever, remains relatively low,” said Adam Pickett, a foreign-exchange strategist at the bank. Even on an election, the two most likely outcomes are Johnson getting his deal through with a majority or that a coalition leads the U.K. to ultimately remain in the EU, and “both of those outcomes are sterling bullish in the medium term.”(Adds strategist comments from Credit Suisse, Citigroup)\--With assistance from Emily Barrett, Katherine Greifeld and Susanne Barton.To contact the reporter on this story: Charlotte Ryan in London at cryan147@bloomberg.netTo contact the editors responsible for this story: Paul Dobson at pdobson2@bloomberg.net, Anooja DebnathFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Business Wire
Citi Appointed as Depositary Bank for Innate Pharma’s ADR Programme
Citi, acting through Citibank N.A., has been appointed by Innate Pharma S.A – a commercial stage oncology-focused biotech company – to act as depositary bank for its American Depositary Receipt programme.
- Zacks
UBS Making Job Cuts in Asia-Pacific Region to Reduce Costs
UBS cuts jobs in the Asia-Pacific region, in order to reduce costs and restructure businesses.
- Business Wire
Head of U.S. Consumer Banking Anand Selva to Present at the Bank of America Merrill Lynch Future of Financials 2019 Conference
Anand Selva, Head of U.S. Consumer Banking, will present at the Bank of America Merrill Lynch Future of Financials 2019 Conference on Tuesday, November 5, 2019. The presentation will begin at approximately 4:10pm .
- Business Wire
Citi Adds Club Premier Aeromexico to Vast Suite of ThankYou Points Transfer Partners
Citi ThankYou Premier and Citi Prestige Cardmembers Can Now Transfer ThankYou Points to Club Premier
- Investing.com
StockBeat: Bank of America Joins Zero-Commission Fee Race
Investing.com – Bank of America (NYSE:BAC) on Monday joined some of its peers in cutting trading fees for its retail brokerage clients to zero.
- Financial Times
FirstFT: Today’s top stories
The so-called Turla group, which has been linked with Russian intelligence, allegedly hijacked the tools of Oilrig, a group widely linked to the Iranian government, according to a two-year probe by the UK’s National Cyber Security Centre in collaboration with the US National Security Agency. Victims include military establishments, government departments, scientific organisations and universities across the world, mainly in the Middle East. The Iranian group was probably unaware that its hacking methods were hacked and deployed by another cyber espionage team, security officials involved in the investigation said.
- Business Wire
Citi® Supplier Finance Launches with WorldLink® Payment Services
Citi’s Treasury and Trade Solutions (TTS) has launched an enhanced Citi Supplier Finance offering, now with WorldLink® Payment Services (WorldLink), providing our clients access to the combined strength of two powerful, industry-recognized platforms. Citi consistently invests in the Supplier Finance platform technology as a strategic priority to cater to our clients’ needs and achieve end-to-end digitization. Through the new enhancements to the Citi Supplier Finance online portal, clients can manage the dual work streams of supplier financing and foreign currency conversions at the same time, helping to minimize costs of implementation and realizing potential resource efficiencies.
- Investing.com
Stocks - U.S. Futures Inch Up as Trade Chatter Continues; Boeing Tumbles
Investing.com - U.S. futures pointed to a slightly higher opening bell on Monday, as chatter continued over the U.S. and China making a temporary trade deal.
- Financial Times
Citi’s European chief signals confidence in London after Brexit
The new head of Citigroup in Europe said he was confident that the City of London would retain its status as the region’s top financial centre regardless of the outcome of Brexit. David Livingstone, who in February took over as chief executive of the bank in Europe, the Middle East and Africa, said that London would continue to benefit from its “unique timezone [and] the rule of law”, as well as “huge support mechanisms” such as an abundance of professional services firms.
- Bloomberg
China Surveillance Giant Expects Client Losses From U.S. Ban
(Bloomberg) -- Hangzhou Hikvision Digital Technology Co. warned it may lose customers in overseas markets because of its U.S. blacklisting, underscoring the extent to which curbs on the sale of American technology may hurt the world’s largest video surveillance business.Executives at the Chinese camera provider, which reported profit in line with estimates, said clients may hold off on purchases while they gauge the impact of those restrictions. But the company is large enough to withstand U.S. sanctions and develop its own technology in the longer term, they said. Its own home market remains a rich vein of revenue as the U.S. business shrinks, a trend that may persist, Huang Fanghong, a Hikvision senior vice president, said on a call Saturday. Its shares gained as much as 5.4% Monday -- the most in more than a month on an intraday basis.Hikvision found itself in the cross-hairs of the Trump administration this month after it joined other Chinese companies -- including Huawei Technologies Co. -- on an Entity List that prevents American firms from supplying it with components and software. The seller of video cameras used around the world in surveillance was accused of involvement in human rights violations against Muslim minorities in the far-western region of Xinjiang. On Monday, brokerages including Citigroup and CICC cut their projections on Hikvision’s 2020 earnings growth.“While management says they expect the worst is over, we believe some customers may have concerns on the impact of the Entity List,” Citigroup analysts wrote.Hikvision executives say they had anticipated the action and stockpiled enough key parts to keep operations going for some time. The company has also said it didn’t foresee major impact on its business as a result of the ban.In Huawei’s case, for instance, some suppliers including Intel Corp. and Micron Technology Inc. developed workaround solutions to the prohibition. Most of Hikvision’s American suppliers are continuing to do business with it, while abiding by export regulations and without the need for special licenses, according to Huang.“We have made a great deal of preparations, from a year ahead of the ban,” Huang said. “There’s no way for us to fully discuss the impact from the entity list in 10 days. We need more time to talk to our suppliers and customers. A steady component supply is key in this process, no matter if we decide to use original materials or a replacement design.”The U.S. decision, which came on the eve of sensitive trade negotiations, takes President Donald Trump’s economic war against China in a new direction: the first time his administration has cited human rights as a reason for action. It deals a potentially heavy long-term blow against Hikvision, which has steadily switched to Chinese-made components in recent years but still relies on the likes of Intel, ON Semiconductor Corp. and Texas Instruments Inc., particularly for higher-end chips.Still, as much as 80% of Hikvision’s sales are insulated from the U.S. ban, analysts Charles Shum and Simon Chan of Bloomberg Intelligence wrote in an Oct. 8 note.“Hikvision’s sales may continue to rise over the next year despite the Trump administration’s decision,” they wrote. “It can also source alternative parts, though with a weaker performance, from local suppliers in the medium term.”Hikvision reported Friday that net income grew 17% to 3.81 billion yuan ($538 million) in the September quarter, while revenue grew 23%. The company forecast growth of 5% to 20% in net income this year.Hikvision was added to the Entity List alongside SenseTime Group Ltd. and Megvii Technology Ltd., two giant enterprises Beijing is counting on to spearhead advances into a revolutionary technology. Hikvision doesn’t play as outsized a role in China’s ambitions but it’s a key partner to Beijing as well as governments around the world. Its cameras are used from Paris to Bangkok and Urumqi, and are considered pivotal to crime prevention as well as helping build “smart cities” or networked urban environments.Longer term, U.S. sanctions threaten to crimp some of the explosive growth Hikvision has managed this decade, in large part due to China’s effort to put in place the world’s largest surveillance and monitoring network. The company may find itself short of the components it needs to build advanced systems, unless Chinese chipmakers succeed in developing more advanced chips -- another of Beijing’s stated policy ambitions in tech.Thanks to cheap but capable cameras, the Chinese company has enjoyed double-digit growth over the past eight years. Demand for its surveillance cameras, video storage and data analysis services has boomed particularly in its home market. Overseas, the company competes against Canon, Hanwha Techwin and Bosch.(Updates with shares and analysts’ actions from the second paragraph)To contact Bloomberg News staff for this story: Gao Yuan in Beijing at ygao199@bloomberg.netTo contact the editors responsible for this story: Edwin Chan at echan273@bloomberg.net, Colum MurphyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Barrons.com
The Dow Found a Way to Waste a Perfectly Good Week
The week contained enough good news to drive just about any market higher, but instead ended with the Dow Jones Industrial Average lower for the fourth time in five weeks.
- Kiplinger
Earnings Reports for the Week of Oct. 21-25 (AMZN, BA, CMG)
Check out our weekly earnings calendar and read the latest quarterly earnings previews.
- Zacks
Bank Stock Roundup: Q3 Earnings Season Unfolds, JPMorgan, BofA & Citi Top Estimates
Investor sentiment upbeat on banks' Q3 earnings, with the major players displaying top-line strength on the back of higher fee income and loan growth.
- Zacks
Is Citigroup (C) Stock a Profitable Pick for Value Investors?
Citigroup (C) stock may be a good choice for value-oriented investors right now from multiple angles.
- Zacks
4 Banks Riding High on Impressive Q3 Earnings
Bank stocks defied rate cut fears and have considerably outperformed analysts' estimates in third-quarter 2019 so far.
- Zacks
KeyCorp (KEY) Q3 Earnings Beat Estimates as Revenues Rise
KeyCorp (KEY) witnesses higher revenues and lower expenses in the third quarter of 2019.
- Zacks
SunTrust (STI) Q3 Earnings Meet Estimates, Revenues Rise
SunTrust (STI) witnesses higher revenues in the third quarter of 2019. Yet, rise in expenses and provisions hurt results.
- Zacks
Morgan Stanley (MS) Q3 Earnings Top on Bond Trading, Advisory
Higher trading and investment banking revenues support Morgan Stanley's (MS) Q3 earnings.
