C - Citigroup Inc.

NYSE - NYSE Delayed Price. Currency in USD
52.65
+3.20 (+6.47%)
At close: 4:02PM EDT
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Commodity Channel Index

Commodity Channel Index

Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close49.45
Open49.45
Bid52.70 x 1200
Ask52.80 x 800
Day's Range49.45 - 52.69
52 Week Range32.00 - 83.11
Volume27,750,890
Avg. Volume30,671,855
Market Cap109.607B
Beta (5Y Monthly)1.82
PE Ratio (TTM)7.25
EPS (TTM)7.26
Earnings DateJul 14, 2020
Forward Dividend & Yield2.04 (4.13%)
Ex-Dividend DateMay 01, 2020
1y Target Est69.25
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
Fair Value
XX.XX
Undervalued
8% Est. Return
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    Cooper-Standard Automotive Inc. -- Moody's announces completion of a periodic review of ratings of Cooper-Standard Automotive Inc.

    Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Cooper-Standard Automotive Inc. New York, July 10, 2020 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Cooper-Standard Automotive Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.

  • 4 Top Stock Trades for Monday: FSLY, BA, JPM, C
    InvestorPlace

    4 Top Stock Trades for Monday: FSLY, BA, JPM, C

    Stocks churned higher for most of Friday's session, setting the stage for the start of earnings season next week. With that in mind, let's look at a few top stock trades for Monday. Top Stock Trades for Monday No. 1: Fastly (FSLY) Click to EnlargeSource: Chart courtesy of StockCharts.comFastly (NYSE:FSLY) stock has been absolutely incredible, rallying from $10.63 at the March low to more than $100 this week. On the way up, we outlined a couple of key levels, including $75 and $84. These are the 261.8% and the three-times range extensions from the prior range. I also flagged the 361.8% level and the $100 mark as a potential upside target. InvestorPlace - Stock Market News, Stock Advice & Trading TipsAfter briefly exceeding these marks, however, shares seem to be cooling off a bit.Now we need to see where support comes into play. Start with the 10-day moving average near $88. Below that puts the 20-day moving average in play, followed by the extensions we highlighted in the chart at $84 and $75. * The 7 Best Stocks to Invest in Right Now Above $100, though, and the $102.95 high is in play. Top Stock Trades for Monday No. 2: Boeing (BA) Click to EnlargeSource: Chart courtesy of StockCharts.comBoeing (NYSE:BA) made a nice reversal higher on Friday, as it continues to hold the $168 to $170 area as support. The problem is, however, that downtrend resistance (blue line) and the 20-day moving average continue to squeeze the stock lower. This has the look of a descending triangle, a bearish technical signal. That said, watch $168. Below this mark puts the 50-day moving average in play. If that fails, it could put $150 in play, which is the 23.6% retracement. For bulls to gain any sort of meaningful momentum, the stock must close over the 20-day moving average currently near $184. Top Stock Trades for Monday No. 3: JPMorgan (JPM) Click to EnlargeSource: Chart courtesy of StockCharts.comJPMorgan (NYSE:JPM) and other bank stocks are making a powerful move higher on Friday and ahead earnings next week. The company will report on Tuesday, along with Citigroup (NYSE:C). The 23.6% retracement held as solid support for the last few weeks. So with JPMorgan's rally, the stock is reclaiming the 20-day and 50-day moving averages, as well as clearing downtrend resistance. Now bulls need to see if shares can clear the 38.2% retracement and reclaim $100. Above that puts $110 to $112 in play, along with the 200-day moving average. * 7 Earnings Reports to Watch Next Week Below uptrend support, though, and JPMorgan could see more downside. Top Stock Trades for Monday No. 4: Citigroup (C) Click to EnlargeSource: Chart courtesy of StockCharts.comLike JPMorgan, Citigroup is prepping for earnings. The stock did a great job holding $50 support and is bouncing off the 50-day moving average. It's also reclaiming downtrend resistance and the 20-day moving average. From here, I want to see shares clear the 50% retracement at $56.68, putting $60 to $62 in play. There it will find the 61.8% retracement and 200-day moving average. Below this month's low at $49.03, however, and Citigroup could take a tumble. In that event, it put the 23.6% retracement in play at $43.47.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * America's 1 Stock Picker Reveals His Next 1,000% Winner * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * Radical New Battery Could Dismantle Oil Markets The post 4 Top Stock Trades for Monday: FSLY, BA, JPM, C appeared first on InvestorPlace.

  • Reuters

    US STOCKS-Wall St jumps with financials; Gilead data offsets virus fears

    U.S. stocks rose on Friday as a positive analysis on Gilead Sciences Inc's antiviral drug to treat COVID-19 helped to soothe investor worries over a record rise in coronavirus cases in the United States, and as financial shares surged. The Nasdaq posted its sixth record closing high in seven days, but the index underperformed both the Dow and S&P 500, in a reversal of the recent trend.

  • US STOCKS-Wall St jumps as Gilead data offsets virus fears; financials jump
    Reuters

    US STOCKS-Wall St jumps as Gilead data offsets virus fears; financials jump

    U.S. stocks rose on Friday as a positive analysis on Gilead Sciences Inc's antiviral drug to treat COVID-19 helped to soothe investor worries over a record rise in coronavirus cases in the United States, and as financial shares surged. The Nasdaq posted its sixth record closing high in seven days, but the index underperformed both the Dow and S&P 500, in a reversal of the recent trend.

  • Reuters

    CORRECTED-US STOCKS-Wall St climbs as Gilead data offsets virus fears; Nasdaq hits another record high close

    U.S. stocks rose on Friday and the Nasdaq posted its sixth record closing high in seven days as a positive analysis on Gilead Sciences Inc's antiviral drug to treat COVID-19 soothed investor worries over a record rise in coronavirus cases in the United States. Gilead's remdesivir significantly improved clinical recovery and reduced the risk of death in COVID-19 patients, additional data from a late-stage study showed. Although the Nasdaq recorded another record closing high, it underperformed the Dow and S&P 500, in a reversal of the recent trend.

  • US STOCKS-Wall St gains as Gilead data offsets virus fears; Dow leads gains
    Reuters

    US STOCKS-Wall St gains as Gilead data offsets virus fears; Dow leads gains

    U.S. stocks rose on Friday as a positive update from Gilead Sciences Inc's antiviral drug to treat COVID-19 countered nerves over a record rise in coronavirus cases in the United States that threatens to further impact companies. In a reversal of the recent trend, the Dow and S&P 500 were sharply outperforming the Nasdaq, which on Thursday registered its fifth record closing high in six days. Bank of America Corp, Citigroup Inc, JPMorgan Chase & Co and Goldman Sachs rose ahead of their financial results next week, which would mark the onset of the second-quarter earnings season.

  • Reuters

    US STOCKS-S&P 500, Dow edge higher as Gilead data offsets virus concerns

    The S&P 500 and the Dow advanced on Friday as a positive update from Gilead's antiviral drug to treat COVID-19 countered nerves over a record rise in coronavirus cases in the United States that threatens to damage Corporate America. Gilead's remdesivir significantly improved clinical recovery and reduced the risk of death in COVID-19 patients, additional data from a late-stage study showed.

  • US STOCKS-Financials lift S&P 500, Dow despite record U.S. virus cases
    Reuters

    US STOCKS-Financials lift S&P 500, Dow despite record U.S. virus cases

    The S&P 500 and Dow rose in choppy trading on Friday, boosted by financial stocks but the sentiment was fragile as a record rise in coronavirus cases in the United States threatened to further damage Corporate America. Technology stocks weakened, dragging the Nasdaq from its third record closing high this week.

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  • Trump signals Phase 2 deal with China is not a priority
    Yahoo Finance Video

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  • Beware a $12 Trillion Pension Revolt Against Low Rates
    Bloomberg

    Beware a $12 Trillion Pension Revolt Against Low Rates

    (Bloomberg Opinion) -- The Federal Reserve’s towering $7 trillion balance sheet looks small in comparison to the U.S. defined-benefit pension industry. With more than $12 trillion of retirement assets across corporate America and state and local governments, these liability-driven investors have enough firepower to move financial markets if they so choose.Their next potential target just might be the world’s biggest bond market.By now, it’s no secret that long-term U.S. Treasury yields are pinned near record lows. Before the coronavirus crisis, 10-year yields never fell below 1.32%, while the 30-year bond bottomed out last year around 1.9%. For almost four months, the 10-year note has traded between 0.54% and 0.95%, while 30-year Treasuries haven’t come close to climbing back to their previous low. All the while, inflation expectations are creeping higher, leaving real inflation-adjusted rates about as negative as they have ever been.For defined-benefit pension managers who are expected to deliver annual returns in the high single digits, this won’t cut it. Bank of America Corp. strategists Ralph Axel and Olivia Lima wrote recently that pension funds and other liability-focused investors such as insurance companies probably won’t buy into the Treasury market until yields rise by “at least” 50 basis points, if not 75 to 100 basis points. In other words, the 10-year rate would have to double and the 30-year would have to breach 2% again.Their thesis stems from a correlation analysis of moves in 10-year yields and the change in Treasury holdings reported in the Fed’s quarterly flow of funds data. When adjusted for the sharp increase in bond prices in the first three months of 2020, Axel and Lima found that both private defined-benefit pension funds and the general accounts of insurance companies reduced their Treasury holdings in the first quarter.Judging by the sharp decline in Treasury Strips — an acronym for Separate Trading of Registered Interest and Principal of Securities — they probably steered clear in the past three months as well. The amount of the ultra-long duration debt outstanding has fallen for four consecutive months, a first since 2012, around the same time real yields hit record lows.Now, even if pensions weren’t buyers of Treasuries in recent months, benchmark yields remained suppressed for the entire second quarter. Credit the Fed’s bond-buying efforts for that: At one point in March, the Fed was buying $75 billion of Treasuries each day. It has since committed to purchasing about $80 billion a month, which, while still a large sum, is nonetheless a pullback and comes as the Treasury Department is widely expected to continue ramping up the size of its auctions to finance the government’s fiscal relief measures.Put together, it would suggest the potential for some fireworks at the long end of the yield curve. Here’s how Bank of America concludes 10-year yields will be back at 1% by the end of the year:The question is who will step up to buy in the second half when we expect coupon supply to be significantly higher than Fed purchases. This leaves a gap in Treasury supply vs. Fed demand that will need to be absorbed by other investors and increases the potential for higher long-end rates, i.e., a bear steepening of the rates curve, unless demand picks up for long duration Treasuries, or the macro outlook deteriorates. Because pension and insurance companies are the main buyers in the long end, this leads to the question of whether LDI demand will be strong enough to keep yields stable as coupon bond supply ramps up for the next several months.The forecast is all the more striking given Bank of America’s history in analyzing defined-benefit pensions. In July 2016, when Treasury yields set record lows, I interviewed Shyam Rajan, then the bank’s head of U.S. rates strategy and now its head of U.S. Treasury trading. With the benchmark 10-year yield at about 1.4%, he reckoned retirement funds might throw in the towel. “As a pension fund, you’ve got to be scared that rates could actually go lower,” he said at the time.Obviously, rates eventually fell below that level but not before gradually climbing through late 2018, when the 10-year yield topped 3% for the first time in seven years. With yields much higher, managers could simply aim to buy enough long-dated bonds to align principal and interest payments with payouts to retirees in a process known as immunization. Now, the funds are known more for risky gambits in alternative strategies — and for being chronically underfunded.As Bank of America’s strategists put it, purchasing Treasuries now only serves to “lock in such large funding gaps and also lock in low rates of return on the bonds.” The latest auction of 10-year notes this week offered a yield of 0.653%, the lowest on record, while a sale of 30-year bonds priced to yield just 1.33%. That’s not going to move the needle for state pension funds that widely assume an annual return of 7% to 8%.Yet even with almost $1 trillion in Treasuries owned among insurance companies and defined-benefit pensions, it’s unclear how much they can steer long-term rates. Thursday’s $19 billion long-bond auction was nothing short of spectacular, with nonprimary dealer buyers taking the second-largest share ever. Some strategists speculated that foreign investors swooped in with hedging costs low relative to recent history.“It seems that investors used this auction as a liquidity opportunity to put on flatteners,” noted Thomas Simons at Jefferies LLC. “There’s no reason to believe the move will subside any time soon as there is clearly a lot of momentum behind it.” For those wagering on a steeper yield curve, this recent jolt just creates a better entry point.For some sense of pensions’ influence, in September 2018, Citigroup Inc. estimated the funds alone reduced the spread between five- and 30-year Treasuries by as much as 32 basis points over 12 months. Even if they could exert similar influence in the opposite direction this time, in a market that has since grown by $4 trillion, that would still fall far short of Bank of America’s threshold.The biggest wild card, as usual, is the Fed itself. Just how far would policy makers allow the U.S. yield curve to steepen before intervening with something like Operation Twist? Judging by their rebuke of negative-rate policy, it seems as if they realize the strains that near-zero yields place on banks, insurers and pensions. So it would stand to reason that they’d be fine with the yield curve from five to 30 years at least steepening by an additional 40 to 50 basis points to align with its 10-year average of roughly 150 basis points and put the long bond right around its 2% inflation target. On the other hand, all it would take is a worsening economic outlook or a sharp drop in the price of risk assets for the central bank to swoop in with another dose of easing. It’s because of the central bank’s heavy hand in the $19.2 trillion Treasury market that I’ve argued typical supply-demand dynamics don’t carry much weight. While I still believe that’s the case, the lack of enthusiastic buying from anyone but the Fed might be enough to tip the scales. As in 2016, pensions have ample reason to fear that rates will move even lower. But at these levels, they’re left with virtually no choice but to revolt and hope for better days ahead.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brian Chappatta is a Bloomberg Opinion columnist covering debt markets. He previously covered bonds for Bloomberg News. He is also a CFA charterholder.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Investing.com

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  • Chesapeake Utilities Corporation Announces Maryland PSC Approval of Elkton Gas Acquisition
    PR Newswire

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  • Reuters

    Wells Fargo pledges $400 million in support of small business after PPP payout

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  • Reuters

    GLOBAL MARKETS-China charges on, gold climbs to nine-year high

    European shares rose on Thursday after a two-day wobble, as Chinese markets continued their charge, while investors propelled gold to a nine-year high. Chinese stocks set their longest winning streak in two years, and the yuan had strengthened past 7 per dollar overnight , despite rising tension over Hong Kong and the economic uncertainty caused by COVID-19. It was the Shenzhen blue-chip index's eighth straight day of gains, adding another 1.5% to its 15% surge this month, and it helped Europe on an upward trajectory after initial hesitation caused by uninspiring German data.

  • What to expect as banks report earnings: more loan pain but plenty of fee income
    MarketWatch

    What to expect as banks report earnings: more loan pain but plenty of fee income

    The stock market has battered the largest U.S. banks because of coronavirus, but they have plenty of ways to make money, even when interest rates are very low.

  • Reuters

    GLOBAL MARKETS-China charges on, gold reaches nine-year high

    European shares were rising again after a two-day wobble on Thursday as China's markets continued their charge, and something between fear and greed propelled gold to a nine-year high. Chinese stocks set their longest winning streak in two years and the yuan had strengthened past 7 per dollar overnight, despite rising tension over Hong Kong and the economic uncertainty caused by COVID-19. Trade- and commodity- related currencies also reacted to China's gains.

  • Citi Appointed as Depositary Bank for Amryt Pharma’s ADR Programme
    Business Wire

    Citi Appointed as Depositary Bank for Amryt Pharma’s ADR Programme

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  • SAP Revenue Begins to Recover from Pandemic-Fueled Slowdown
    Bloomberg

    SAP Revenue Begins to Recover from Pandemic-Fueled Slowdown

    (Bloomberg) -- SAP SE, Europe’s largest technology company, reported better-than-expected preliminary results for second-quarter revenue, buoyed by a resumption in software deals in Asia.Sales climbed 2% to 6.74 billion euros ($7.66 billion) in the quarter that ended June 30, the Walldorf, Germany-based company said Wednesday in a statement. Analysts, on average, estimated 6.61 billion euros, according to data compiled by Bloomberg.While software license revenues were below normal levels, they recovered more than expected in the most recent period, the company said. SAP said in April that deal activity had effectively ground to a halt because of the Covid-19 pandemic that forced people to remain in their homes to prevent the spread of the virus. The company saw renewed demand in the Asia-Pacific region, where some major economies have started to reopen.The company’s cloud revenue climbed 21% to about 2 billion euros. SAP reiterated its annual forecast of as much as 28.5 billion euros in adjusted revenue and operating profit of 8.1 billion euros to 8.7 billion euros.The results “put a bottom” on first-quarter trends and should reassure investors that the company should be able to hit its guidance for the year, Citigroup Inc. analysts said in a note. Analysts at Jefferies said that SAP’s decision to keep 2020 guidance unchanged implies the company sees “a gradually improving demand environment throughout the year.”Shares rose 5.5% to 137.06 euros at 9:07 a.m. in Frankfurt on Thursday. The stock has gained 14% this year.“Business activity gradually improved over the course of the second quarter,” the company said in the statement. “Current cloud backlog remained strong with continued high demand for digital supply chain, e-commerce, cloud platform and Qualtrics solutions.”The better-than-expected results could indicate that SAP’s corporate customers, which had halted large information technology projects during the pandemic, may be feeling more confident as Covid-19 restrictions loosen in many parts of the world.Tight IT budgets will likely loosen up in early 2021 and demand could return for companies like SAP driven by an aim to improve productivity, Bloomberg Intelligence analyst Anurag Rana said in a note this week. Cloud application providers in particular should see demand “climb sharply” next year after the lockdowns persuade more companies to make their operations digital.“Demand may return for these products in early 2021, as corporations aim to improve the overall productivity of their finance and other back-office functions. The coronavirus pandemic has shown the importance of cloud-based software products, which we believe will permeate into back-office applications.”\--Anurag Rana, Bloomberg IntelligenceThe economic slowdown caused by the pandemic has been a challenge for Christian Klein, SAP’s chief executive officer who is now solo after the departure of his former co-CEO, Jennifer Morgan. The German software maker adopted virtual sales and implementation processes and slowed hiring and other expenses to boost profitability.Still, the moves helped boost the company’s operating margin by 6.5 percentage points from a year earlier to 19% in the quarter.(Updates with shares, analyst comment in 5th paragraph, background throughout.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.