|Bid||69.50 x 29200|
|Ask||70.96 x 1400|
|Day's range||69.22 - 70.25|
|52-week range||64.38 - 80.70|
|PE ratio (TTM)||N/A|
|Earnings date||12 Oct 2018|
|Forward dividend & yield||1.28 (1.92%)|
|1y target est||83.44|
Jul.18 -- Ida Liu, global market manager for New York at Citi Private Bank, discusses where her clients are investing and putting their money to work. She speaks on "Bloomberg Daybreak: Americas."
Financial stocks were the winners on U.S. markets Wednesday after Morgan Stanley (NYSE:MS) became the latest bank to report impressive earnings and Berkshire Hathaway (NYSE:BRKa) loosened its policy on share buybacks.
Asian markets fell on Tuesday as mounting tensions over U.S. tariffs overshadowed data suggesting global growth was still on track. Japan's benchmark Nikkei 225 bucked the regional trend, gaining 0.4 percent to 22,692.82. The Dow Jones Industrial Average added 0.2 percent to 25,064.36 as Goldman Sachs, JPMorgan Chase, and Boeing climbed.
Bank stocks rallied on Monday in the thick of big banks’ earnings reports, and one money manager sees bigger gains ahead.
The Financial Select Sector SPDR ETF (XLF) is rising today, helped by Bank of America's (BAC) second-quarter earnings, which comes on the heels of JPMorgan Chase's (JPM) report on Friday. BofA's earnings boost is a far cry from the reaction to bank earnings on Friday. Both Citigroup (C) and Wells Fargo (WFC) were lower on Friday following earnings, and even JPMorgan warned that competitive pressures were ramping up, as it followed them lower.
Big banks continue to be a profitable group despite being immensely disliked on Wall Street, CNBC's Jim Cramer says.
JPMorgan Chase (JPM) reported an 18% higher profit than analysts’ expectations in the second quarter to $8.32 billion. According to Barclays analysts, the bank exceeded analysts’ estimates for the 14th straight quarter. The bank’s trading revenues rose 13% to $5.4 billion, while the loan growth rose 4% to $948.4 billion. The bank’s yield on interest-earning assets was at 2.46%.
Citi has launched Citi® Payment Insights, a new service providing institutional clients with real-time payments visibility, and ability to action payments on-demand via its electronic banking platform, CitiDirect BE®. Citi® Payment Insights empowers clients with a complete view of the transaction lifecycle within Citi’s entire global network, and across the correspondent banking eco-system by integrating the transparency provided by SWIFT’s gpi initiative. “This new service highlights our dedication to provide a frictionless experience to our clients in a rapidly changing business environment”, said Naveed Sultan, Citi’s Global Head of Treasury and Trade Solutions.
Wells Fargo, JPMorgan, Bank of America, Goldman Sachs and Morgan Stanley are part of Zacks Earnings Preview
BlackRock, the largest asset manager in the world, on Monday reported second-quarter earnings and revenue that surpassed analyst expectations.
Dick Bove, Hilton Capital Management’s chief strategist, said the three major U.S. banks that have reported earnings have one thing in common: Their capital hasn't grown by much since a year ago.
JPMorgan Chase and Citigroup both reported second-quarter earnings on Friday that beat analyst estimates, with profit rising 18% and 16% from a year earlier, respectively. JPMorgan and Citigroup shares were already down 8% and 13% since the end of January, as investors anticipated a grim future for banks where a trade war cut demand for loans, a recession boosted credit losses and where a flattening yield curve cut profits. At JPMorgan, core loan growth was a robust 7%, unchanged from the first quarter.
The 75-year-old Ms. Liegey discovered that Citigroup Inc. had blocked her checking and trust accounts after she didn’t respond to a notice asking her for personal information to verify the accounts—part of the bank’s efforts to comply with government-mandated rules referred to as “know your customer,” or KYC. The process can end up ensnaring even law-abiding customers like Ms. Liegey, a grandmother of two. “When customers come to us with the required information, we make every effort to keep the account open or reopen it as soon as possible,” a Citigroup spokesman said.
JPMorgan Chase & Co. and Citigroup Inc. posted double-digit profit increases in the second quarter as businesses and consumers showed confidence in stronger economic growth by borrowing more, although investors remained wary in the face of trade conflicts and interest-rate uncertainty. The performance of the two banks reflected continued employment gains in the U.S., a boom in deal-making among companies and increasing investment by businesses flush with more cash following the recent tax-code overhaul. JPMorgan Chief James Dimon said the economy was charging ahead on most fronts, bolstering banks.
The Federal Reserve says that it expects low unemployment and rising inflation will keep it on track to raise interest rates at a gradual pace over the next two years. By late 2019, the Fed says its key policy rate should be at a level that will be slightly restrictive for growth. NEW YORK (AP) -- Papa John's is pulling founder John Schnatter's image from marketing materials following reports he used a racial slur.
While the major averages have "lulled investors to sleep," there are actually stocks that are up 100 percent this year, says Raymond James' Jeff Saut. "I think we’re going to go up and make new all-time highs."
Although Citigroup beat Wall Street profit expectations, its revenue fell short of forecasts and businesses like branded credit cards and retail banking in Mexico are not yet generating the kind of revenue investors want to see. During a conference call, Chief Executive Officer Michael Corbat touted progress Citigroup has made toward goals he set last year to grow revenue faster than expenses and return more capital to shareholders. Analysts asked how Citigroup will improve performance without having to spend a lot more on those businesses.
“It’s certainly had some impact in the overall feeling in the market, it’s created some uncertainty, so I do think it’s probably had some impact on people making decisions,” Mr. Gerspach said, referring to trade and tariff disputes. Mr. Gerspach said the decline in fixed-income trading came from a drop in spread products concentrated in the U.S.
The latest on developments in financial markets (all times local): 4 p.m. Stocks are closing out their second straight week of gains, despite some wobbly trading during the day, as industrial and energy ...