Home » Archive for March, 2010
Wal-Mart Shares Rise after Citigroup Upgrade (WMT, C)
Wal-Mart (NYSE: WMT) shares rose 2.82% yesterday after Citigroup (NYSE: C) upgrade the blue-chip stock from “Hold” to “Buy” and increased the mega-retailer’s price target to $65.00, up from $54.00. Citibank said that Wal-Mart... More of this article »
Citigroup to Pay $520 Million to Increase Share in Chilean Bank (NYSE: C)
Citigroup Inc (NYSE: C) announced that it will pay $520 million (269.7 billion Chilean pesos) to increase its stake in Banco de Chile SA, which will make Citigroup the controlling shareholder of the Chilean bank, according to a new... More of this article »
Citigroup (NYSE: C) to Advise Queensland Coal Producers on Bid for State Rail Lines
Queensland coal producers, including BHP Billiton Limited and Xstrata Plc has appointed Citigroup (NSE: C) to advice the companies on a bid for the state’s rail lines, as the Australian government forwards a planned initial share... More of this article »
Bid on EMI Group Delayed by Legal Issues with Citigroup (NYSE: C)
Anonymous sources have reported to the press that KKR & Co is in talks with Warner Music Group to launch a break-up-bid for EMI Group LTD, but the KKR will not make a final bid on EMI until it resolves its financial issues with... More of this article »
Abu Dhabi Investment Authority Made 6.5% Return Despite Loss on Citibank (NYSE: C)
The Abu Dhabi Investment Authority, one of the world’s largest investors, said in a new annual financial review on Sunday that it made an annualized return of 6.5% over the last 20 years, despite losses from a $7.5 billion investment... More of this article »
Bank of America (NYSE: BAC) Set to Expand China Operations
Bank of America (NYSE: BAC) plans to seek approval from China to expand its operations in the fastest growing country in the world, where the Charlotte, N.C. based bank is lagging behind many of its rivals in terms of assets. Bank... More of this article »
Citigroup Permanently Modified 15,607 Mortgages through February (NYSE: C)
Citigroup (NYSE: C)’s CitiMortgage unit improved its modification numbers under the Federal Government’s Making Home Affordable Program during the month of February, increasing the number of permanent modifications that it has... More of this article »
Citigroup Announces New Head of India Equities (NYSE: C)
Citigroup (NYSE: C) announced on Monday that it has promoted Keshav Sanghi as its new head of India Equities. Sanghi previously served as the head of sales and deputy head of equities for Citi’s India business unit. Sanghi was promoted... More of this article »
Citigroup Appoints New Global ETF Product Head (NYSE: C)
Citigroup (NYSE: C) has announced the appointment of Jeffrey McCarthy as the company’s new head of Global ETF Products in its Securities and Funds Service Business, commonly referred to as SFS. McCarthy will be tasked with accelerating... More of this article »
Goldman Sachs (NYSE:GS) In Long-Term Horizon to Repair its Reputation
It took many years for it to happen, but the collapse of the banking system and resultant recession provided the environment for pent up anger and endless negative press coverage to take its toll on Goldman Sachs (NYSE:GS). And while... More of this article »
Morgan Stanley (NYSE:MS) Launches Coverage of Ironwood Pharmaceuticals (NASDAQ:IRWD), Resumes Coverage of Kraft Foods (NYSE:KFT)
Morgan Stanley has started covering Ironwood Pharmaceuticals (NASDAQ:IRWD), and its first rating was an “overweight” with a price target of $19. The primary drug being developed, which will determine much of its near term... More of this article »
JPMorgan (NYSE:JPM) and FDIC Settle with WaMu for $6 Billion
[Update] – As several commenters have pointed out, the proposal is pending legal approval from the court, which is uncertain. The legal battle between JPMorgan (NYSE:JPM) and FDIC against the estate of WaMu had gotten down... More of this article »
Citibank (NYSE: C), Bank of America (NYSE: BAC) and Others to Face Trouble from New Mark-to-Market Rules
The Financial Accounting Standards Board is likely to propose that banks expand their use of market values for financial assets such as loans, impacting up to $2.8 trillion in assets at Citibank (NYSE: C), Bank of America (NYSE: BAC),... More of this article »
General Electric Receives $326 Million Addition to U.S. Air Force Contract
General Electric’s (NYSE: GE) Aircraft Engines unit, based in Lynn, MA, received a $326 million boost to a previously awarded fixed-price contract, exercising an option to purchase 80 F-414-GE-400 engines and modules, as well as... More of this article »
Report: Bank Of America (NYSE: BAC) Aims To Grow Business In China
Bank of America (NYSE: BAC) is looking to expand its business operations in China, according to recent reports. The largest U.S. bank, based on assets, inherited a well established Asian investment banking business from Merrill Lynch... More of this article »
Citibank (NYSE: C) to Expand its International Commodities Business
Citibank (NYSE: C, which trades up to one-fifth of all freight derivatives, has hired a director from a London shipbroker to develop its physical shipping operations as the bank hopes to expand its global commodities business. Alistair... More of this article »
Citibank CEO (NYSE: C) May Be Overly Optimistic about Growth Potential
Citibank CEO (NYSE: C) Vikram Pandit spoke optimistically about Citi’s future at a company sponsored financial services conference in New York on Thursday, but not all is well at the recovering megabank. During his presentation,... More of this article »
Bank of America (NYSE: BAC) Seeing Growth in Retirement Asset Management
Bank of America (NYSE: BAC) has recently made a push into the competitive realm of managing retirement assets and is now starting to see success from the move. Bank of America CEO Brian Moynihan said that the company is winning an... More of this article »
Citibank (NYSE: C) Says Investors Have Been Net Buyers of Greek Bonds
Citibank analysts (NYSE: C) has said for the last three weeks, investors have been net buyers issued by Greece, Spain, Portugal and Ireland, despite the peripheral European countries facing widening deficits. For the first time in... More of this article »
Owner of Parrot Stolen by Bank of America (NYSE: BAC) To File Lawsuit
Bank of America (NYSE: BAC) had the opportunity for getting a positive public relations push on Wednesday on news that it would no longer be charging overdraft fees to its customers and instead deny transactions when customers didn’t... More of this article »
Citibank (NYSE: C) to Expand Brokerage Operations in Indonesia
Citibank (NYSE: C) announced that it will attempt to increase its share of Asia’s equity capital markets and expand its operations in Indonesia by gaining a stock brokering license, said the company’s Asia Pacific head on Friday. Citibank... More of this article »
Wells Fargo (NYSE: WFC) Boosts Loan Modifications 41 Percent In February
Wells Fargo (NYSE: WFC) announced Friday that it started 24,975 new mortgage modification trials in February under the government’s Home Affordable Modification Program, up 41 percent from a month prior. The bank now has 139,065... More of this article »
U.S. Treasury May Divest itself from Citibank (NYSE: C) Starting Next Week
Citibank (NYSE: C) CEO Vikram Pandit said that he “wouldn’t be surprised” if the U.S. Treasury began winding down its 27% stake in Citigroup beginning next week. The U.S. Treasury owns 7.7 billion shares of the financial giant... More of this article »