Archive for April, 2010
Citibank (NYSE: C) Expands Indonesia Operations
Citibank (NYSE: C) has expanded its Indonesian operations by opening a new branch in Tanah Abang. With the latest expansion, Citibank will now have 21 branches, 71 loan centers and 105 ATM machines in throughout six major cities in the country, including Jakarta, Surabaya, Bandung, Medan, Semarang, and Denpasar. According to a statement from the [...]
Citibank (NYSE: C) Japan to Launch “Smart Banking” Retail Branches
Citibank’s (NYSE: C) Japanese unit will be opening two new branches in suburbs of Tokyo on April 12th which will introduce the idea of “smart banking” to the country. The branches which will open next week are full-service smart banking branches in the company’s global network. The concept of smart banking, which was developer in [...]
Alcoa (NYSE: AA) CEO Receives “Ripples of Hope Award” from City Year New York.
Alcoa (NYSE: AA) has announced that the company’s CEO, Klaus Kleinfeld, has received the 2010 Ripples of Hope Award from City Year New York. Kleinfeld was presented the away at a gala which included more than corporate, community and philanthropic leaders, including Mayor Michael Bloomberg. Kleinfeld was recognized for his strong dedication to the community [...]
American Banking News Twitter Updates for the Week of 2010-04-11
Heritage Bank of Commerce Launches Fraud Protection Solutions – CNNMoney.com (press release) http://tinyurl.com/yhpjwdc #Econ # Good, bad & ugly in financial reform – Huffington Post (blog) http://tinyurl.com/yeayov6 #Econ # MOVES-Moelis, Integro, Barcap, Dubai Bank – Reuters http://tinyurl.com/yfdq9wn #Econ # Bank of the Ozarks, Inc. Announces Increased Regular Quarterly Dividend – MarketWatch (press release) http://tinyurl.com/yjehu9t #Econ [...]
Citibank (NYSE: C) Named America’s “Greenest Bank”
Citibank (NYSE: C) has been named “America’s Greenest Bank” according to a new ranking from Banking Technology News. Citigroup’s global sustainable IT initiative is one of the primary reasons that the bank was included on the list. The New York-based financial firm has goals to reduce its energy consumption, paper usage and travel time and [...]
Alcoa (NYSE: AA) Set to Report $0.10 Earnings Per Share
Alcoa (NYSE: AA) will releases its first quarter results on Monday and analysts are expecting that the company will report earnings of 10 cents per share, according to those surveyed by Thomson Reuters, although others have lowered their estimates to less than half of that. Whatever the company finally reports, it will be a significant [...]
Alcoa (NYSE: AA) Earnings Report May Mark Beginning of Strong Earnings Season
Alcoa (NYSE: AA) is set to begin the first quarter earnings season on Monday and analysts are confident that Alcoa, along with other companies on the S&P 500, will be able to easily beat their Q1 2009 numbers. The first quarter of 2009 was one of the worst periods during the recession. Since Q1 2009, [...]
Citibank (NYSE: C) Expects 25% Growth in Africa By 2013
Citibank’s (NYSE: C) regional chief executive for Africa, Naveed Riaz, said on Friday that the company expects that its business will increase by 25% during the next two to three years in the continent. Along with the Middle East and Europe, the New York-based bank’s business in Africa comprised about 38% of the three region’s [...]
Wells Fargo (NYSE: WFC) CEO to Serve on Boards of Chevron (NYSE: CVX) and Target (NYSE: TGT)
Wells Fargo & Co. (NYSE: WFC) CEO John Stumpf will be serving on the boards of both Chevron Corp. (NYSE: CVX) and Target Corp. (NYSE: TGT). Stumpf will be joining Chevron’s board of directors pending approval from shareholders, along with former Republican senator Chuck Hagel of Nebraska. The two will join the board in May [...]
Citigroup (NYSE: C) Comments on Energy Industry, Favors MEMC Electronic Materials (NYSE: WFR) and First Solar (NASDAQ: FSLR)
Citigroup (NYSE: C)’s equity research team made comments on solar stocks and the impact of lower natural gas prices which is being overlooked on a short-term basis. The prompt month natural gas contract has dropped by more than 30% since early January and the spot prices ($4.00 / MMBtu) are close to their 10 year [...]
Citigroup (NYSE: C) Reiterates “Buy” Rating for Wal-Mart (NYSE: WMT) and Sell Rating for Safeway (NYSE: SWY)
Citigroup’s equity research team (NYSE: C) commented on the groceries industry on Friday and re-iterated its “sell” rating on Safeway (NYSE: SWY) and its “buy” rating on Wal-Mart (NYSE: WMT). The analysts said that Wal-Mart is getting aggressive on its pricing and will likely continue its “modern day price war” throughout the rest of the [...]
Citigroup (NYSE: C) Launches new “BRIC Commodities” Index
Citigroup (NYSE: C) announced that it has launched a new BRIC commodities index, which will provide investors access to commodity exposure in relation to the consumption of commodities in the four BRIC countries, including Brazil, Russia, India and China. In its press relapse, Citigroup said that the index will provide access to a basket of [...]
Bank of America (NYSE: BAC) Forecloses On and Sells Home on Homeowner Who was Current on Mortgage
Bank of America (NYSE: BAC) has inadvertently foreclosed on and sold a home in Jackson County, Georgia, where the two homeowners were up-to-date on their mortgage payment, according to a report from Fox’s Atlanta Affiliate. “On Tuesday, my husband was working on his truck. A guy came over to him, I think, and shook his [...]
Citigroup (NYSE: C) Equity Research Predicts Better than Expected Results for Apple (NASDAQ: AAPL)
Citigroup’s Equity Research team issued a note to clients discussing Apple Inc’s (NADASQ: AAPL) event which revealed features which will be coming on the 4.0 version of the iPhone operating system and the implications that it may have on second quarter earnings. Analyst Richard Gardner said that most of the new features unveiled by Apple [...]
General Electric (NYSE: GE) Set to Release Earnings on April 16th
General Electric (NYSE: GE) will release the company’s first quarter 2010 earnings on Friday, April 16th. The release will be followed immediately by a conference call at 8:30 AM eastern to discuss the report. Participants in the conference call will include Jeff Immelt, Chairman and CEO; Keith Sherin, Vice Chairman and CFO; and Trevor Schauenberg, [...]
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