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C

Citi

$49.28

0.21 (0.43%)

, ITUB

Itau Unibanco

$11.83

0.13 (1.11%)

15:28
10/09/16
10/09
15:28
10/09/16
15:28

Citi to sell Brazil consumer banking unit to Itau Unibanco

Citi (C) announced it has reached a definitive agreement to sell its consumer banking business in Brazil to Itau Unibanco (ITUB), subject to regulatory approvals. Citigroup noted it does not expect the financial terms of the transaction to be material to its earnings. The sale constitutes approximately $2.8B in assets for Citi in Brazil and includes credit cards, personal loans and deposit accounts, as well as Citi Brazil's retail brokerage business. Citi's consumer banking operations in Brazil will continue to operate in the ordinary course through the transition to Itau Unibanco. Upon the conclusion of the transaction, Citi will continue serving clients of its corporate and investment bank, commercial and private bank businesses in the country. "We will continue to grow our market leading franchise serving our institutional and private bank clients," the bank added.

C

Citi

$49.28

0.21 (0.43%)

ITUB

Itau Unibanco

$11.83

0.13 (1.11%)

  • 14

    Oct

  • 23

    Oct

  • 26

    Oct

C Citi
$49.28

0.21 (0.43%)

09/13/16
SOCG
09/13/16
DOWNGRADE
SOCG
Sell
Citi downgraded to Sell from Hold at Societe Generale
09/13/16
SOCG
09/13/16
DOWNGRADE
Target $42
SOCG
Sell
Societe Generale cuts Citi to Sell, Bank of America to Hold
Societe Generale downgraded Citi (C) to Sell from Hold and Bank of America (BAC) to Hold from Buy. The firm has a $42 price target for shares of Citi and attributes an increased negative stance on Cards for the downgrade. Societe Generale has a $17 price target for Bank of America and cites revenue growth for the downgrade to Hold. Citi is trading down 86c to $46.93 and Bank of America is trading down 19c to $15.71.
09/16/16
GSCO
09/16/16
DOWNGRADE
GSCO
Neutral
Citi downgraded to Neutral from Buy at Goldman
Goldman analyst Richard Ramsden downgraded Citi to Neutral and lowered his price target on the shares to $50 from $52. The analyst said Citi's expected earnings inflection has failed to materialize and ROEs are at 7.7%, well below management's 10% target. Ramsden's analysis suggests growth in higher return businesses, such as credit cards and wealth management, and expense discipline will not be enough to increase ROE all the way to its 10% target. Citi remains a capital returns story, constrained by the utilization of deferred tax assets, the analyst wrote in his report.
09/16/16
09/16/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. 21st Century Fox (FOX, FOXA) downgraded to Market Perform from Outperform at Bernstein with analyst Jason Park citing a reduction in his estimates for the company's Star India business. 2. Wells Fargo (WFC) downgraded to Underweight from Neutral at Atlantic Equities. 3. Citi (C) downgraded to Neutral from Buy at Goldman with analyst Richard Ramsden saying Citi's expected earnings inflection has failed to materialize and ROEs are at 7.7%, well below management's 10% target. 4. McCormick (MKC) downgraded to Market Perform from Outperform at Bernstein with analyst Alexia Howard citing valuation. 5. Novavax (NVAX) downgraded to Neutral from Overweight at Piper Jaffray, to Neutral from Overweight at JPMorgan, to Neutral from Buy at Ladenburg, to Neutral from Outperform at Wedbush, and to Neutral from Buy at Citi. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
ITUB Itau Unibanco
$11.83

0.13 (1.11%)

06/02/16
HSBC
06/02/16
DOWNGRADE
HSBC
Hold
Itau Unitbanco downgraded to Hold from Buy at HSBC
07/14/16
FBCO
07/14/16
UPGRADE
FBCO
Neutral
Itau Unitbanco upgraded to Neutral from Underperform at Credit Suisse
07/19/16
GSCO
07/19/16
UPGRADE
GSCO
Neutral
Itau Unitbanco upgraded to Neutral from Sell at Goldman
07/19/16
GSCO
07/19/16
UPGRADE
GSCO
Neutral
Itau Unitbanco upgraded to Neutral from Sell at Goldman

TODAY'S FREE FLY STORIES

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General news
Fedspeak returned from the blackout period »

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PSXP

Phillips 66 Partners

$48.52

0.37 (0.77%)

, PSX

Phillips 66

$89.14

0.07 (0.08%)

07:49
09/22/17
09/22
07:49
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07:49
Hot Stocks
Phillips 66 Partners to sell $750M of Series A preferred units »

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Phillips 66 Partners

$48.52

0.37 (0.77%)

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Phillips 66

$89.14

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PSXP

Phillips 66 Partners

$48.52

0.37 (0.77%)

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Phillips 66

$89.14

0.07 (0.08%)

07:48
09/22/17
09/22
07:48
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07:48
Hot Stocks
Phillips 66 Partners announces $2.4B acquisition of interests from Phillips 66 »

Phillips 66 Partners…

PSXP

Phillips 66 Partners

$48.52

0.37 (0.77%)

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Phillips 66

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VSAR

Versartis

$21.60

-0.25 (-1.14%)

07:48
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EXEL

Exelixis

07:48
09/22/17
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07:48
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07:48
Downgrade
Exelixis rating change  »

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PSXP

Phillips 66 Partners

$48.52

0.37 (0.77%)

07:48
09/22/17
09/22
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07:48
Hot Stocks
Breaking Hot Stocks news story on Phillips 66 Partners »

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PSXP

Phillips 66 Partners

$48.52

0.37 (0.77%)

, PSX

Phillips 66

$89.14

0.07 (0.08%)

07:47
09/22/17
09/22
07:47
09/22/17
07:47
Hot Stocks
Breaking Hot Stocks news story on Phillips 66 Partners, Phillips 66 »

Phillips 66 Partners to…

PSXP

Phillips 66 Partners

$48.52

0.37 (0.77%)

PSX

Phillips 66

$89.14

0.07 (0.08%)

03/08/13
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X

U.S. Steel

$24.66

-1.13 (-4.38%)

07:47
09/22/17
09/22
07:47
09/22/17
07:47
Technical Analysis
Technical View: U.S. Steel falls in early trading, analyst action »

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PSXP

Phillips 66 Partners

$48.52

0.37 (0.77%)

, PSX

Phillips 66

$89.14

0.07 (0.08%)

07:47
09/22/17
09/22
07:47
09/22/17
07:47
Hot Stocks
Breaking Hot Stocks news story on Phillips 66 Partners, Phillips 66 »

Phillips 66 Partners to…

PSXP

Phillips 66 Partners

$48.52

0.37 (0.77%)

PSX

Phillips 66

$89.14

0.07 (0.08%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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PSXP

Phillips 66 Partners

$48.52

0.37 (0.77%)

, PSX

Phillips 66

$89.14

0.07 (0.08%)

07:47
09/22/17
09/22
07:47
09/22/17
07:47
Hot Stocks
Breaking Hot Stocks news story on Phillips 66 Partners, Phillips 66 »

Phillips 66 Partners to…

PSXP

Phillips 66 Partners

$48.52

0.37 (0.77%)

PSX

Phillips 66

$89.14

0.07 (0.08%)

03/08/13
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ZBH

Zimmer Biomet

$113.06

-2.92 (-2.52%)

07:45
09/22/17
09/22
07:45
09/22/17
07:45
Recommendations
Zimmer Biomet analyst commentary  »

Value investors should…

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07:45
09/22/17
09/22
07:45
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General news
N.Y. FX Outlook »

N.Y. FX Outlook: The…

BABA

Alibaba

$177.39

-0.56 (-0.31%)

, TCEHY

Tencent

$44.15

-0.15 (-0.34%)

07:44
09/22/17
09/22
07:44
09/22/17
07:44
Periodicals
Alibaba, Tencent look towards emerging markets in mobile-payments race, WSJ says »

Chinese companies Alibaba…

BABA

Alibaba

$177.39

-0.56 (-0.31%)

TCEHY

Tencent

$44.15

-0.15 (-0.34%)

AAPL

Apple

$153.39

-2.68 (-1.72%)

GOOG

Alphabet

$932.45

0.87 (0.09%)

GOOGL

Alphabet Class A

$947.55

0.01 (0.00%)

03/08/13
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SPR

Spirit AeroSystems

$78.90

0.76 (0.97%)

07:44
09/22/17
09/22
07:44
09/22/17
07:44
Conference/Events
Spirit AeroSystems to host investor meeting »

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  • 27

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AERI

Aerie Pharmaceuticals

$51.45

-1.95 (-3.65%)

07:44
09/22/17
09/22
07:44
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07:44
Recommendations
Aerie Pharmaceuticals analyst commentary  »

Aerie pullback on AdComm…

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  • 25

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CSCO

Cisco

$32.70

0.1 (0.31%)

07:44
09/22/17
09/22
07:44
09/22/17
07:44
Conference/Events
Cisco management to meet with Deutsche Bank »

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EFX

Equifax

$98.25

2.25 (2.34%)

07:41
09/22/17
09/22
07:41
09/22/17
07:41
Technical Analysis
Technical View: Equifax trades higher, analyst action »

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  • 22

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AA

Alcoa

$46.25

-1.25 (-2.63%)

07:41
09/22/17
09/22
07:41
09/22/17
07:41
Downgrade
Alcoa rating change  »

Alcoa downgraded to Hold,…

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KMX

CarMax

$68.84

0.17 (0.25%)

07:40
09/22/17
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07:40
Earnings
CarMax reports Q2 EPS 98c, consensus 95c »

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  • 22

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SYK

Stryker

$140.67

-2.04 (-1.43%)

, ZBH

Zimmer Biomet

$113.06

-2.92 (-2.52%)

07:40
09/22/17
09/22
07:40
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07:40
Recommendations
Stryker, Zimmer Biomet analyst commentary  »

Growth investors should…

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Stryker

$140.67

-2.04 (-1.43%)

ZBH

Zimmer Biomet

$113.06

-2.92 (-2.52%)

03/08/13
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  • 26

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SAVE

Spirit Airlines

$34.01

1.31 (4.01%)

07:39
09/22/17
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07:39
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Conference/Events
Spirit Airlines to host investor meeting »

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  • 27

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IBM

IBM

$145.26

-0.62 (-0.43%)

, WBA

Walgreens Boots Alliance

$78.20

-0.64 (-0.81%)

07:39
09/22/17
09/22
07:39
09/22/17
07:39
Hot Stocks
IBM announces new agreement with Walgreens to deploy IBM retail analytics »

IBM (IBM) announced a new…

IBM

IBM

$145.26

-0.62 (-0.43%)

WBA

Walgreens Boots Alliance

$78.20

-0.64 (-0.81%)

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07:38
09/22/17
09/22
07:38
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07:38
Conference/Events
Federal Reserve Bank of Dallas President participates in a conference »

Dallas Federal Reserve…

07:37
09/22/17
09/22
07:37
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Conference/Events
Federal Reserve Bank of Kansas City President to speak at conference »

Kansas City Federal…

MYGN

Myriad Genetics

$33.61

0.1 (0.30%)

07:36
09/22/17
09/22
07:36
09/22/17
07:36
Recommendations
Myriad Genetics analyst commentary  »

Myriad Genetics price…

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