Archive for March, 2010
Citibank (NYSE: C) CEO Says He’s Motivated by “Karmic Fear”
Citibank (NYSE: C) CEO Vikram Pandit says that he is not motivated by money, but rather by “Karmic fear.” During an interview with the financial times, Pandit commented that his desire to do the “right thing” for the bank’s shareholders and its clients is based on his “Eastern upbringing.” Pandit commented that he believes that [...]
Citibank (NYSE: C) Says Hungary’s Budget Deficit Will Worsen,
Citibank (NYSE: C) said on Thursday that Hungary’s financial situation is “very likely” to deteriorate in the nature future, but will remain “tolerable” for the International Monetary fund if the country overhauls its economy. Hungary’s budget deficit may rise to as much as 4.5% of the country’s gross domestic product this year, compared to the [...]
U.S. Bancorp (NYSE:USB), New York Community Bank (NYSE:NYB) and PNC Financial Services (NYSE:PNC) Strongest Among Regional Banks Says Fitch
The market seems to have factored in most negative elements in relationship to the major banks, but there is a lot to come this year for regionals, and the strongest of them at this time according to Fitch ratings include U.S. Bancorp (NYSE:USB), New York Community Bank (NYSE:NYB) and PNC Financial Services (NYSE:PNC). Even though [...]
Investors Continue to be Bullish on Goldman Sachs (NYSE:GS)
The populist uprising against Goldman Sachs (NYSE:GS) has done little to deter the bullish attitude of investors toward the company, and they continue to pour money into the financial institution, as confidence they’ll continue to excel is strong. This is one important thing to keep in mind for investors and those watching the media circus [...]
IPO Market Hot This Week for Bank of America (NYSE:BAC) and Wells Fargo Corp. (NYSE:WFC), JPMorgan Chase & Co. (NYSE:JPM) and Morgan Stanley (NYSE:MS)
The big banks are enjoying a good week for IPOs, as almost all of them were involved with two ocean shipping companies – Baltic Trading and Crude Carriers, and also health sciences company Aveo Pharmaceuticals, Bank of America (NYSE:BAC) and Wells Fargo Corp. (NYSE:WFC), JPMorgan Chase & Co. (NYSE:JPM) and Morgan Stanley (NYSE:MS) all partook [...]
Bank of America (NYSE:BAC) Adds 8,000 More to Modified Mortgage List
Bank of America (NYSE:BAC) has increased the number of customers it added to their list of those they will modify their mortgages with under the Home Affordable Modification Program (HAMP), according to its latest month. “We are in a position to show strong results in completion of permanent HAMP modifications as we move into spring,” [...]
Standards & Poor’s Reiterates “Hold” Rating for Citibank (NYSE: C)
Standards & Poor’s reiterated its “hold” rating on shares of Citibank (NYSE: C) following a major surge in the company’s stock price closing at $4.18 per share on Thursday. The Standards & Poor’s analyst, Matthew Albrecht, while reviewing rumors that the company would be selling its real-estate investment business, Apollo Global Management, as well as [...]
Oppenheimer Says Citibank (NYSE: C) Now Fairly Valued
An Oppenheimer Funds analyst said on Friday that he believes Citibank (NYSE: C) shares are now fairly priced after this week’s run-up on positive comments from the company’s CEO, signs that the government may wind down its stake in the company and news that Citibank is set to sell its Citi Property Investors unit. Citibank [...]
Citibank (NYSE: C) Lowers Price Target for National Semiconductor (NYSE: NSM)
Citibank (NYSE: C) maintained its buy rating on National Semiconductor (NYSE: NSM) and lowered its price target to $22, down from $23.00 citing lower comparable multiples. Citibank Analyst Terence Whalen said, “New CEO Macleod (formerly COO) spent his first 3-mos lobbying large distributors and OEMs. NSM is known as a solid technology and fulfillment partner, [...]
Citibank (NYSE: C) Maintains Buy Rating on Eaton, Raises Price Target to $82 (NYSE: ETN)
Citibank (NYSE: C) maintained its buy rating on Eaton (NYSE: ETN) and raised its price target to $82.00, up from $77.00, citing high peer multiples. Citibank Analyst Timothy Thein said, “Our detailed analysis of ETN’s Power Quality business furthers our conviction in the significant cyclical / secular growth potential ahead, but also the role it [...]
Citibank (NYSE: C) Downgrades Abbot Laboratories (NYSE: ABT)
Citibank (NYSE: C) has downgraded Abbot Laborites from a “Hold” rating to a “Sell” rating, because of signs that the company may face profitability trouble in 2010. Citi simultaneously raised the company’s price target to $52.00, up from $46.00. Citibank analyst Matthew Dodds said, “ABT appears to be masking underlying profitability trouble in ’10 with [...]
Citigroup (NYSE:C), JP Morgan (NYSE: JPM) Helped Spark Lehman’s Collaspe
In a 2,200 page report, the U.S. Trustee appointed examiner said that JP Morgan Chase (NYSE: JPM) and Citigroup (NYSE: C) helped cause the demise of Lehman Brothers by changing guarantee agreements and requiring more capital from the defunct investment bank. Anton Valukas, filed the report in a Manhattan federal court on Thursday, which details [...]
Berkshire Hathaway (NYSE: BRK-B) Chairman Warren Buffett Takes $100,000 Salary For 29th Year
In a time when bailed out Wall Street firms are reporting multi-million dollar payouts to executives for 2009, Warren Buffett, the Oracle of Omaha took just $100,000 from Berkshire Hathaway, the company he led to a 60 percent earnings increase in 2009. The $100,000 annual salary last year, marks the 29th straight year that Buffett’s [...]
Citibank (NYSE: C) Closes Above $4.00 per Share (NYSE: C)
Citibank (NSE: C) rallied through the closing bell to finish at the company’s highest share price since November 24th, after CEO Vikram Pandit issued a bullish-message about the company’s future at a Citibank sponsored investor conference in New York. The company’s stock jumped 22 cents during the day, or nearly 6%, closing at $4.18 per [...]
Citibank (NYSE: C) Sells Japanese Niseko Village Ski Resort
Citigroup (NYSE: C) has Niseko Village, a famous ski-resort in Japan, to Malaysia’s YTL Corp (KL: YTLS). Niseko Village was sold for 6 billion yen, or about $67 million U.S. The village is a popular vacation destination for Chinese and Australian skiers and serves as a home for Japanese snowboarders because of the resort’s reputation [...]
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