PPI Swells Higher, Big Banks Beat Q2 Estimates

11:21am, Friday, 12'th Jul 2024
Today's PPI numbers were not quite as accommodating as yesterday's CPI.
Bank earnings that dismayed investors, Citigroup Inc.'s $41 million stock award to its new banking chief and hedge funds' results drove the Wall Street Beat conversation among Sonali Basak, Matthew Mi
Citigroup (C) came out with quarterly earnings of $1.52 per share, beating the Zacks Consensus Estimate of $1.40 per share. This compares to earnings of $1.37 per share a year ago.
Shares of Citigroup (C) rose in premarket trading Friday after the bank's second-quarter profit beat analysts' estimates.
CNBC's Leslie Picker joins 'Squawk Box' to report on the bank's quarterly earnings results.
Citigroup Inc (NYSE:C) reported quarterly financials at the top end of Wall Street expectations, sparking an initial flurry before the stock dropped back in early deals. Second quarter revenue came in
Stephen Biggar, Director of Financial Institutions Research at Argus Research, discusses earnings from JPMorgan, Wells Fargo, and Citigroup.
Citigroup said costs for the year are now likely to be at the high end of the range, but the firm notched gains in revenue across all five of its major divisions in the second quarter. Sonali Basak re
Citigroup's profit rose in the second quarter, boosted by a 60% jump in investment banking revenue and gains in its services division, sending the bank's shares up 2% before the bell.

Citigroup Reports Second Quarter 2024 Results

08:00am, Friday, 12'th Jul 2024
NEW YORK--(BUSINESS WIRE)--Today Citi reported second quarter 2024 results, which can be found on its website at https://www.citigroup.com/global/investors. A Quarterly Financial Data Supplement with
Citigroup was just this week rebuked for failing to address its regulatory shortfalls, so analysts will be keen to ask CEO Jane Fraser about her long-running efforts to address the issue. Last year, F
The U.S. regulators penalize Citigroup (C) for inefficient progress in data management issues. It follows the 2020 consent order requiring the bank to fix these issues via firm-wide adequate measures.

Markets Sell the News After Satisfying CPI

07:01pm, Thursday, 11'th Jul 2024
The Inflation Rate came in better than expected for a soft landing, but the S&P and Nasdaq posted their worst trading day in two months.
Let's see if now is a good time to buy JPMorgan (JPM) or Citigroup's (C) stock as their much-anticipated Q2 results approach on Friday, July 12.
Big bank earnings kick off Friday with Citi (C), Wells Fargo (WFC) and JPMorgan Chase (JPM) reporting their second-quarter results. Bank of America (BAC) is set to follow on Tuesday.
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