Citibank’s (NYSE: C) team of equity strategists have cut their stance on the worldwide financial sector to “neutral”, down from “overweight” on Thursday, citing the sector’s ultra-high beta equity trade in recent years.
Citi noted that global equities are up more than 63% from their March 2009 lows and that the magnitude of the rebound has [...]
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Citibank (NYSE: C) Cuts Outlook on Worldwide Financials Sector to Neutral
Bank of America (NYSE:BAC), Citigroup (NYSE:C), HSBC Holdings Plc NYSE:HBC), and ING Groep NV – Managing Sale of Mexico Peso Bonds
Bank of America (NYSE:BAC), Citigroup (NYSE:C), HSBC Holdings Plc, ING Groep NV have been hired by Mexico to manage its offering of peso bonds which will be linked to inflation. The bonds will mature in 30 years.
The bonds will be tied to inflation at a rate of 4 percentage points above what the current rate [...]
Citibank to Introduce More Debt and Equity Products in Bangladesh (NYSE: C)
Citibank (NYSE: C) will soon be introducing additional debt and equity products in Bangladesh, India according to a report from AHN Media on Tuesday.
The disclosure from Citibank came after the New York-based banking giant raised $102 million by amortizing secured local currency bonds for Orascom Telecom Bangladesh Limited (OTBL) on a private placement basis, marking [...]
Sprint Nextel (NYSE:S) Ready to Unveil WiMax Phone
Sprint Nextel (NYSE:S) will reportedly unveil the first WiMax phone at a conference next week, which will be compatible with its fourth-generation mobile network.
Named the Supersonic, Sprint is betting and hoping it’ll give a huge boost to the company, which has been battling to grow and generate significant profits for the company and add value [...]
J.P. Morgan Chase (NYSE:JPM) Settlement with Lehman Brothers Approved by Judge
J.P. Morgan Chase (NYSE:JPM) and Lehman Brothers Holdings received approval from a judge for the settlement agreement between the two companies.
Per the agreement, J.P. Morgan will receive cash and collateral from Lehman Brothers while they return about $9 billion in illiquid securities and real estate to Lehman.
Even though U.S. Bankruptcy Judge James Peck approved of [...]
Citigroup (NYSE:C) Spinning Off Insurance Unit, Primerica Files for IPO of $252 Million
Citigroup (NYSE:C) has made the decision to focus on and keep only those assets connected to their core banking business, and their latest divestiture will be their life insurance unit – Primerica.
The life insurance unit has filed for an initial public offering which will be as high as $252 million.
This isn’t the only part the [...]
Citibank (NYSE: C) Initiates Coverage of Pharmasset (NASDSAQ: VRUS) with “Buy” Rating
Citibank (NSE: C) has initiated coverage of pharmaceutical maker Pharmasset (NASDAQ:VRUS) with a “Buy” rating and a $34.00 price target citing a drug being developed for the hepatitis C market which Citibank believes will be profitable for the company.
Analyst Yaron Werber, MD commented, “We believe that RG7128 (currently in ph 2b) will become a backbone [...]
Bank of America (NYSE:BAC) Seeking Approval to Sell More Products in China
With North America as a growth market largely over, multi-national banks like Bank of America (NYSE:BAC) are targeting emerging markets as their engine of growth, with China being one of the key markets.
Bank of America, while now having a small presence in China, is definitely seeking to expand there, as it is now asking for [...]
Mexico Hires Bank of America, Citibank and Others to manage Sale of Peso Bonds (BAC, C)
Mexico has hired Bank of America Corp (NYSE: BAC), HSBC Holdings (NYSE: HBC), ING Groep NV (NYSE: ING) and Citibank’s (NYSE: C) Banamex unit to manage the sale of new 30-year inflation-linked peso bonds in its local market.
The Mexican government will sell the new bonds at 4% above the current rate of inflation, according to [...]
Citigroup and Goldman Sachs Hired by GMAC to Explore TARP Repayment Options (C, GS)
Citigroup (NYSE: C) and Goldman Sachs (NYSE: GS) have been hired by GMAC Inc to explore options for repaying its bailout funds related to the Troubled Asset Relief Program, according to several sources.
GMAC head Michael Carpenter was tasked with returning the lender to profitability and getting the company’s bailout funds repaid when he became CEO [...]
J.P. Morgan (NYSE:JPM): Emerging Market Countries, Companies, Issue Half of Bonds in 2010
J.P. Morgan (NYSE:JPM) estimates that half of the bonds issued so far in 2010 have been issued by emerging-market countries, generating a total of $55 billion so far for the quarter, with estimates it could reach over $60 billion for the three-month period.
Figures from ING confirm this, as data show already close to $55 billion [...]
Yeah he can really say that if the government is waiting for the release of the positive result which will ...
I've only seen blog mentality reporting from this site, and don't take much merit in anything it says. 
This dog of a stock is finally moving in the right direction, and then "Citibank's team of equity strategists" downgrade ...