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C

Citi

$48.47

-0.23 (-0.47%)

08:00
10/14/16
10/14
08:00
10/14/16
08:00

Citi CEO says 'encouraged' by underlying momentum across franchise

Citi CEO Michael Corbat said, "I am very encouraged by the underlying momentum across our franchise, notably in several areas where we have been investing. In the quarter, both our Global Consumer Bank and Institutional Clients Group had solid year-over-year revenue increases in nearly every business line and geography. We also continued to grow core loans and deposits while reducing non-core assets to just 3% of our balance sheet. "We remain intensely focused on shareholder returns. The acquisition of the Costco portfolio and the recently announced sales of our retail operations in Argentina and Brazil are the latest examples of how we are shifting resources to the areas we believe will generate the best returns for our shareholders. "Our Common Equity Tier 1 ratio increased to 12.6% and we remain committed to consistently increasing the amount of capital we return to our shareholders in order to improve overall returns. In the past two years, we have lowered the amount of outstanding common shares by 180 million or 6%. Our Tangible Book Value per share increased to $64.71 in the quarter, an 8% increase from one year ago, reflecting both the impact of these stock repurchases and our efforts to deliver quality and consistent earnings," Mr. Corbat concluded.

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    Oct

C Citi
$48.47

-0.23 (-0.47%)

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.
10/10/16
OPCO
10/10/16
NO CHANGE
OPCO
Oppenheimer technical analyst upgrades Financials, downgrades Consumer Staples
Oppenheimer technical analyst Ari Wald upgraded the Financials sector to Market Weight and downgraded Consumer Staples to Underweight in next step in the firm's "cyclical rotation road map." Wald identified Ameriprise (AMP), Bank of America (BAC), Citi (C), Goldman Sachs (GS), Lincoln National (LNC) and SunTrust (STI) as six stocks breaking higher that he sees as likely to benefit from internal market rotation.
10/11/16
COMP
10/11/16
INITIATION
Target $39
COMP
Sell
Citi initiated with a Sell at Compass Point
Compass Point analyst Charles Peabody initiated Citi with a Sell and a $39 price target saying earnings continue to look week combined with soft international and capital markets.

TODAY'S FREE FLY STORIES

VRSN

VeriSign

$93.77

0.97 (1.05%)

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DD

DuPont

$81.28

0.59 (0.73%)

, DOW

Dow Chemical

$63.25

0.62 (0.99%)

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DD

DuPont

$81.28

0.59 (0.73%)

DOW

Dow Chemical

$63.25

0.62 (0.99%)

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  • 25

    Jul

TPX

Tempur Sealy

$50.87

0.07 (0.14%)

18:33
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ALJ

Alon USA Energy

$13.33

0.15 (1.14%)

, DK

Delek US

$26.43

0.25 (0.95%)

18:26
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Alon USA Energy (ALJ)…

ALJ

Alon USA Energy

$13.33

0.15 (1.14%)

DK

Delek US

$26.43

0.25 (0.95%)

03/08/13
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  • 28

    Jun

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    Jun

ANCUF

Alimentation Couche-Tard

$49.30

0.144 (0.29%)

, CST

CST Brands

18:25
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Hot Stocks
Alimentation Couche-Tard confirms closing of CST Brands acquisition »

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ANCUF

Alimentation Couche-Tard

$49.30

0.144 (0.29%)

CST

CST Brands

03/08/13
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03/06/13
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BK

BNY Mellon

$50.60

0.92 (1.85%)

18:04
06/28/17
06/28
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Hot Stocks
BNY Mellon announces strategic alliance with One Investment Group »

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  • 20

    Jul

PRGS

Progress Software

$30.82

0.74 (2.46%)

, WOR

Worthington

$47.36

2 (4.41%)

18:03
06/28/17
06/28
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Hot Stocks
On The Fly: After Hours Movers »

UP AFTER EARNINGS:…

PRGS

Progress Software

$30.82

0.74 (2.46%)

WOR

Worthington

$47.36

2 (4.41%)

GEMP

Gemphire Therapeutics

$12.27

0.43 (3.63%)

NXTD

Nxt-ID

$1.66

0.2505 (17.77%)

KLIC

Kulicke & Soffa

$20.02

0.53 (2.72%)

SRPT

Sarepta

$33.86

0.83 (2.51%)

SPLS

Staples

$9.93

0.77 (8.41%)

FITB

Fifth Third

$25.49

0.4 (1.59%)

DFS

Discover

$61.88

0.81 (1.33%)

STI

SunTrust

$56.09

0.88 (1.59%)

C

Citi

$65.18

0.95 (1.48%)

RF

Regions Financial

$14.09

0.09 (0.64%)

BK

BNY Mellon

$50.60

0.92 (1.85%)

JPM

JPMorgan

$89.82

1.77 (2.01%)

CFG

Citizens Financial

$35.34

0.5 (1.44%)

BAC

Bank of America

$23.88

0.61 (2.62%)

MS

Morgan Stanley

$44.32

0.1 (0.23%)

WFC

Wells Fargo

$54.33

1.17 (2.20%)

PNC

PNC Financial

$123.40

2.28 (1.88%)

ZION

Zions Bancorp

$42.97

0.43 (1.01%)

GS

Goldman Sachs

$223.22

2.94 (1.33%)

AXP

American Express

$83.97

0.89 (1.07%)

USB

U.S. Bancorp

$51.98

0.84 (1.64%)

PIR

Pier 1 Imports

$5.38

0.04 (0.75%)

BLCM

Bellicum Pharmaceuticals

$13.32

0.18 (1.37%)

AKBA

Akebia

$15.50

-0.19 (-1.21%)

DOC

Physicians Realty Trust

$21.60

0.08 (0.37%)

CRZO

Carrizo Oil & Gas

$15.61

-0.47 (-2.92%)

COF

Capital One

$82.98

1.6 (1.97%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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    Jun

VRX

Valeant

$17.15

0.5 (3.00%)

18:02
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Salix confirms FDA accepts NDA for PLENVU »

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  • 24

    Aug

NTNX

Nutanix

$20.36

1.72 (9.23%)

, GOOG

Alphabet

$940.49

13.16 (1.42%)

18:02
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Hot Stocks
Nutanix announces strategic alliance with Google Cloud »

Nutanix (NTNX) announced…

NTNX

Nutanix

$20.36

1.72 (9.23%)

GOOG

Alphabet

$940.49

13.16 (1.42%)

GOOGL

Alphabet Class A

$961.01

12.92 (1.36%)

03/08/13
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03/08/13
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03/06/13
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  • 28

    Jun

  • 28

    Jun

  • 19

    Jul

CE

Celanese

$93.42

0.62 (0.67%)

18:02
06/28/17
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Hot Stocks
Celanese increases price of Dibutyl Maleate and Dioctyl Maleate in Europe »

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GS

Goldman Sachs

$223.22

2.94 (1.33%)

18:00
06/28/17
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Hot Stocks
Goldman Sachs: Fed did not object to capital plan »

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  • 18

    Jul

  • 17

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COLB

Columbia Banking

$39.35

0.49 (1.26%)

17:56
06/28/17
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Hot Stocks
Columbia Banking names Hadley Robbins CEO »

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NFBK

Northfield Bancorp

$17.36

0.3 (1.76%)

17:55
06/28/17
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Hot Stocks
Northfield Bancorp CEO John Alexander to retire, Steven Klein to succeed »

Northfield Bancorp…

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JBLU

JetBlue

$22.96

0.25 (1.10%)

, AAL

American Airlines

$49.25

0.75 (1.55%)

17:43
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Hot Stocks
Homeland Security announces new aviation security measures »

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JBLU

JetBlue

$22.96

0.25 (1.10%)

AAL

American Airlines

$49.25

0.75 (1.55%)

UAL

United Continental

$76.70

0.7 (0.92%)

DAL

Delta Air Lines

$53.84

1 (1.89%)

LUV

Southwest

$62.01

0.5 (0.81%)

03/08/13
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  • 30

    Jun

  • 07

    Jul

TD

Toronto-Dominion

$50.43

0.86 (1.73%)

17:38
06/28/17
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Hot Stocks
Toronto-Dominion confirms Fed did not object to 2017 capital plan »

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SC

Santander Consumer

$12.52

0.13 (1.05%)

, SAN

Banco Santander

$6.85

0.19 (2.85%)

17:32
06/28/17
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Hot Stocks
Santander Consumer confirms portion of Santander USA capital plan »

Santander Consumer (SC)…

SC

Santander Consumer

$12.52

0.13 (1.05%)

SAN

Banco Santander

$6.85

0.19 (2.85%)

03/08/13
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CSGP

CoStar Group

$265.43

2.65 (1.01%)

17:30
06/28/17
06/28
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17:30
Hot Stocks
CoStar Group sued by Xceligent for antitrust violations »

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  • 28

    Jun

  • 29

    Jun

BGCP

BGC Partners

$12.16

0.06 (0.50%)

17:29
06/28/17
06/28
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17:29
Earnings
BGC Partners sees Q2 revenues near high end of previous range, consensus $702M »

Prior view was…

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WOR

Worthington

$47.36

2 (4.41%)

17:27
06/28/17
06/28
17:27
06/28/17
17:27
Earnings
Worthington reports Q4 EPS 87c, consensus 83c »

Reports Q4 revenue…

03/08/13
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  • 29

    Jun

  • 30

    Oct

HBAN

Huntington Bancshares

$13.14

0.23 (1.78%)

17:25
06/28/17
06/28
17:25
06/28/17
17:25
Hot Stocks
Huntington Bancshares plans to raise dividend 38%, repurchase $308M of stock »

Huntington Bancshares was…

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  • 21

    Jul

SPLS

Staples

$9.94

0.78 (8.52%)

17:20
06/28/17
06/28
17:20
06/28/17
17:20
Hot Stocks
Staples to be acquired by Sycamore Partners for roughly $6.9B »

Staples and Sycamore…

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SPLS

Staples

$9.93

0.77 (8.41%)

17:19
06/28/17
06/28
17:19
06/28/17
17:19
Hot Stocks
Breaking Hot Stocks news story on Staples »

Staples to be acquired by…

03/08/13
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SPLS

Staples

$9.93

0.77 (8.41%)

17:19
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06/28
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Hot Stocks
Breaking Hot Stocks news story on Staples »

Staples trading halted,…

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OSG

Overseas Shipholding

$2.84

0.29 (11.37%)

17:18
06/28/17
06/28
17:18
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17:18
Hot Stocks
Overseas Shipholding CFO Christopher Wolf resigns »

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LMT

Lockheed Martin

$280.02

2.19 (0.79%)

17:18
06/28/17
06/28
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17:18
Hot Stocks
Lockheed Martin awarded $257.8M government contract modification »

Lockheed Martin Corp.,…

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