Home » Archive for March, 2010
Citigroup (NYSE: C) Joins Bank Of America (NYSE: BAC), JP Morgan (NYSE: JPM), Wells Fargo (NYSE: WFC) In Second Loan Relief Program
Citigroup Inc. (NYSE: C) announced Thursday that it is joining the second-lien program, which is part of the government’s Home Affordable Mortgage Program, in an effort to keep more borrowers in their homes. The announcement by Citigroup... More of this article »
Citigroup Raises Price Target for Urban Outfitters (NASDAQ: URBN)
Citigroup (NYSE: C) reiterated its “buy” rating for Urban Outfitters Inc (NASDAQ: URBN) and set a new price target of $42.00 for the company. Citi analyst says, “We believe the comp acceleration management noted on its 4Q... More of this article »
Citigroup (NYSE: C) and Others Say China Faces an Asset Bubble
Citigroup analysts (NYSE: C) said that China appears to be on track for a “asset boom, bubble and bust” cycle which may take as long as three years to play out and that the cycle will not be halted by tightened economic policies... More of this article »
Lenovo (HKG:0992) Announces Support for Sprint (NYSE: S) 3G and 4G Wireless Modems
Lenovo (HKG:0992) announced on Wednesday that they would be adding options for Sprint’s (NYSE: S) 3G and 4G wireless to their Thinkpad line of laptops sold in the United States, including the company’s ThinkPad Edge line. “Demand... More of this article »
Deutsche Telecom (NYSE: DT) Appoints Citigroup (NYSE: C) as Corporate Broker in Britain
Deutsche Telecom (NYSE: DT) said on Wednesday that Citigroup (NYSE: C) has been appointed as its new corporate broker in Britain in order to assist with investor relationships, according to a report from the New York Times. In a statement,... More of this article »
Citigroup Asset Sale of Grenadier Funding Drawing Strong Demand (NYSE: C)
The first phase of Citigroup’s $.15 billion liquidation of its Grenadier Funding affiliate drew strong demand on Tuesday morning, according to Dow Jones News Wires. The auction of a portfolio of residential-sub-prime mortgage-backed... More of this article »
Citigroup (NYSE: C) Initiates Coverage of Graham Packaging (NYSE: GRM) with Buy Rating
Citigroup’s Equity Research unit (NYSE: C) initiated coverage of Graham Packaging Co (NYSE: GRM) with a “Buy” rating and a $15.00 price target, citing the company’s focus on specialty end markets “where its technology... More of this article »
Hudson Securities (NYSE: DAL) Maintains Buy Rating on Delta Airlines (NYSE: DAL), Raises Price Target
Hudson Securities maintained their buy rating on Delta Air Lines (NYSE: DAL) following the results of a competitive capacity study which predicts that DAL will outperform its peers. Hudson also raised Delta’s price target to $20.00,... More of this article »
Citigroup (NYSE: C) Downgrades Williams-Sonoma (NYSE: WSM)
Citigroup (NYSE: C) downgraded Williams Sonoma (NYSE: WSM), despite having an extremely profitable fourth quarter to a “Hold” rating, down from a “Buy” rating, saying that the company’s operating margin expansion is now fully... More of this article »
Wells Fargo (NYSE:WFC) Acquiring Factoring Business from GMAC
Wells Fargo (NYSE:WFC) announced it will acquire the factoring business in North America, a division of GMAC Commercial Finance, which is their global factoring arm. Factoring is the practice of selling receivables for cash to another... More of this article »
J.P. Morgan (NYSE:JPM) Could Receive $1.4 Billion Tax Refund from Stimulus Bill
J.P. Morgan (NYSE:JPM) is trying to get a $1.4 billion tax refund, something a number of companies have quietly doing as part of the stimulus bill. The context of the situation is a company is allowed to apply losses incurred in 2008... More of this article »
Bank of America (NYSE:BAC) Cutting Mortgage Principal for Some Borrowers
Bank of America (NYSE:BAC) announced it will be cutting the principal of homeowners who owe above 120 percent of the value the loan they took out; up to 30 percent of the principal could be cut for borrowers. Contrary to what many... More of this article »
Needham & Company Re-Iterates “Buy” Rating on VMWare and CA Inc (VMW, CA)
Needham & Company re-iterated their “buy” ratings on software-development companies VMWare (NSE: WVM) and CA Inc (NYSE: C), citing growth in both company’s cloud computing capabilities. Needham analyst said, “During... More of this article »
Citigroup (NYSE:C) Named Corporate Broker of Deutsche Telekom
Deutsche Telekom announced on its Web site today that Citigroup (NYSE:C) had been named the corporate broker for the company. A corporate broker is unique to Britain, and deals with a variety of the aspects of investor relations; this... More of this article »
Citigroup’s South Asia Chief Resigns after 18 Months on the Job (NYSE: C)
Citigroup’s (NYSE: C) South Asia CEO Mark Robinson has resigned from his position after being on the job for less than 18 months on the job, according to several sources. Citigroup said that Robinson will be succeeded by Pramit Jhaveri,... More of this article »
Piper Jaffray Maintains “Overweight” Rating on Apple Inc (NASDASQ: AAPL).
Piper Jaffray maintained an “overweight” rating on Apple Inc (NASDAQ: AAPL) and set a new price target on the company at $284.00. Piper analyst says, “We believe the following analysis shows that Apple is well-positioned... More of this article »
Ford (NYSE: F) Hits 5 Year High After Boost from Moody’s
Ford Motor Co.’s (NYSE: F) stock price hit a 5-year high after Moody’s Investors Service upgraded the automaker’s credit rating. The company’s bonds also gained after the upgrade. Ford’s shares rose 61 cents or 4.5% for the... More of this article »
Profitability of Soros Hedge Fund’s Investment in Citigroup Unclear (NYSE: C)
George Soros’ hedge fund made a major bet in Citigroup (NYSE: C), buying up 94.7 million shares that were worth $313.4 million at the end of 2009. The company’s stock price is up 24% since the end of 2009, but that doesn’t necessarily... More of this article »
Citigroup (NYSE: C) Maintains Buy Rating on Accenture Ltd (NYSE: ACN), Lowers Earnings Estimates
Citigroup (NYSE: C) re-iterated its buy rating on Accenture Ltd (NYSE: ACN), citing moves in European currencies and lowered pipeline demand. Citi’s equity research firm also lowered its earnings estimates for 2010 and 2011 Citi... More of this article »
Citigroup (NYSE: C) Upgrades Teva (NASDAQ:TEVA), Raises EPS Estimate
Citigroup (NYSE: C) upgraded an Israeli pharmaceutical-company, Teva (NASDAQ:TEVA), after its successful acquisition of Ratiopharm, predicting that the company will see earnings per share of $5.22 in 2011 and earnings per share of... More of this article »
Citigroup (NYSE: C) Makes £1 billion from Selling Credit Card Portfolio to SAV Credit
Citigroup (NYSE: C) has sold a portion of its Citi-branded international credit card portfolio to SAV Credit netting the company £1 billion in revenue, according to a report from Alt Assets. Under the terms of the deal, U.K. credit-card... More of this article »
Goldman Sachs (NYSE:GS), JPMorgan Chase (NYSE:JPM) and Citigroup (NYSE:C) Help America Movil Sell Bonds
Goldman Sachs (NYSE:GS), JPMorgan Chase (NYSE:JPM) and Citigroup (NYSE:C) managed the offering of bonds offered by America Movil SAB, which is the largest mobile-phone company in Latin America. This is the second global bond issue... More of this article »
European Central Bank Trying to Change Deficit Rules after Goldman Sachs (NYSE:GS) Greek Swaps
After news came out that Goldman Sachs (NYSE:GS) had made swap arrangements with Greece which allowed them to hide how deeply their budget deficit and debt level were, the European Central Bank has responded by seeking to change the... More of this article »