Citigroup Inc
5 things to know before the stock market opens Monday
Here are the most important news, trends and analysis that investors need to start their trading day: 1. Stock futures fall as the 10-year Treasury yield tops a 3-year high Traders on the floor of the NYSE, April 14, 2022. Source: NYSE 2. BofA issues stronger earnings as it releases reserves for soured loans A […]
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Bank of America profit tops estimates as lender releases reserves for soured loans
Brian Moynihan, chairman and chief executive officer of Bank of America Corp, speaks in New York City, September 25, 2019. Shannon Stapleton | Reuters Bank of America reported first-quarter earnings before the opening bell Monday. Here are the numbers: Earnings: 80 cents a share vs 75 cents a share Refinitiv estimate. Revenue: $23.33 billion vs […]
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China’s Covid policy locks down a city three times the size of New York
The Huangpu River splits the Chinese city of Shanghai between the older settlement on the west and the newer, financial center on the east. Johannes Eisele | Afp | Getty Images China’s latest wave of Covid restrictions has forced millions of people — roughly three times as many as live in New York City — […]
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Biden to nominate Michael Barr as Fed bank regulator in second attempt to fill post
Michael Barr, assistant secretary for financial institutions with U.S. Treasury, speaks during the Advisory Council on Financial Capability meeting at the Treasury Department in Washington, D.C., Nov. 30, 2010. Andrew Harrer | Bloomberg | Getty Images President Joe Biden will nominate Michael Barr, a former Treasury Department official, to be the Federal Reserve’s top regulator […]
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5 things to know before the stock market opens Thursday
Here are the most important news, trends and analysis that investors need to start their trading day: 1. Stock futures are little changed on final trading day of the week A trader works on the floor of the New York Stock Exchange (NYSE) in New York, April 4, 2022. Brendan McDermid | Reuters U.S. stock […]
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Citigroup tops earnings estimates on better-than-expected trading revenue
Jane Fraser, incoming CEO of Citigroup. Citigroup Citigroup topped expectations for first-quarter profit and revenue on better-than-expected trading results as Wall Street benefited from surging volatility tied to the Ukraine war. Shares rose 2% in trading on Thursday. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of […]
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European stocks rise as ECB confirms end of bond buying; Ericsson down 5%
The pan-European Stoxx 600 nudged 0.5% higher by mid-afternoon, with travel and leisure stocks gaining 2.5% while telecoms dropped 0.4%. The ECB kept its monetary policy unchanged but confirmed it will end its bond buying in the third quarter. Once the bond buying program is completed, the ECB is expected to begin hiking interest rates, following […]
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Wells Fargo shares fall as quarterly revenue misses estimates, bank says credit losses to increase
Wells Fargo signage on May 5th, 2021 in New York City. Bill Tompkins | Michael Ochs Archives | Getty Images Wells Fargo on Thursday reported lower-than-expected first-quarter revenue amid a drop in mortgage lending, but beat earnings expectations as the bank decreased its credit reserves. Wells Fargo shares lost 3% in premarket trading. Here are […]
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JPMorgan Chase reports $524 million hit from market dislocations caused by Russia sanctions
Jamie Dimon, Chairman and CEO of JP Morgan Chase. Adam Jeffery | CNBC JPMorgan Chase said Wednesday that first-quarter profit fell sharply from a year earlier, driven by increased costs for bad loans and market upheaval caused by the Ukraine war. Here are the numbers: Earnings: $2.63 a share (unclear if comparable to $2.69 estimate). […]
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Earnings playbook: Big banks and an airline kick off the reporting season
The corporate earnings season will get going next week with some of the biggest U.S. banks slated to report. Source
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