Core Viewpoint - Analysts expect Citigroup to report quarterly earnings of $1.36 per share, reflecting a year-over-year decline of 10.5%, with revenues projected at $19.91 billion, down 1.2% from the previous year [1] Earnings Estimates - The consensus EPS estimate has been revised down by 2.9% in the past 30 days, indicating a reassessment by analysts [1] - Changes in earnings estimates are crucial for predicting investor reactions to the stock [1] Key Financial Metrics - Average balance of total interest-earning assets is estimated at $2,276.26 billion, up from $2,206.17 billion in the same quarter last year [2] - Efficiency Ratio is forecasted to be 67.3%, slightly higher than the previous year's 67.1% [2] - Leverage Ratio is expected to reach 7.3%, compared to 6% a year ago [2] Capital Ratios and Loans - Tier 1 Capital Ratio is projected at 14.8%, down from 15.3% last year [3] - Total non-accrual loans are expected to be $3.58 billion, up from $3.28 billion a year ago [3] - Total Capital Ratio is estimated at 15.4%, compared to 15.7% in the same quarter last year [3] - Corporate non-accrual loans are expected to be $1.61 billion, down from $1.98 billion last year [3] - Consumer non-accrual loans are projected at $1.72 billion, up from $1.30 billion a year ago [3] Income Projections - Net Interest Income is expected to reach $13.57 billion, down from $13.83 billion in the same quarter last year [4] - Total Non-Interest Income is projected at $6.35 billion, slightly up from $6.31 billion a year ago [4] - Administrative and other fiduciary fees are estimated at $913.90 million, down from $971 million last year [4] - Commissions and fees are expected to reach $2.53 billion, up from $2.20 billion a year ago [4] Stock Performance - Citigroup shares have increased by 11.9% in the past month, outperforming the Zacks S&P 500 composite's 5.9% increase [4]

Core Argument - Citibank is facing a lawsuit from New York Attorney General Letitia James, which accuses the bank of failing to protect fraud victims and potentially leading to significant changes in electronic payment processing [1][2]. Group 1: Legal Proceedings - Citibank's lawyers argue that the bank has adequate consumer protections and that a ruling against the bank could dramatically alter electronic payment processing [1]. - The lawsuit centers on unauthorized withdrawals from consumer accounts, with the New York attorney's office claiming that Citibank misleads consumers about their rights and fails to reimburse fraud victims [2]. Group 2: Bank's Defense - Citibank maintains that it adheres to all relevant laws and regulations regarding wire transfers and has implemented multiple layers of fraud detection to prevent scams [1][3]. - The bank asserts that it is not liable for losses when clients follow criminals' instructions, emphasizing that it has taken proactive measures to enhance security and educate clients about fraud [3].

Group 1 - Terns Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on developing small-molecule product candidates for serious diseases, including oncology and obesity [3] - The company has granted an equity inducement award to a new employee as part of its 2022 Employment Inducement Award Plan, which was approved by the Compensation Committee [1][2] - The equity award consists of options to purchase 20,000 shares of common stock at an exercise price of $8.10, with a vesting period of four years [2] Group 2 - Terns' pipeline includes three clinical stage development programs: an allosteric BCR-ABL inhibitor, a small-molecule GLP-1 receptor agonist, and a THR-β agonist, along with a preclinical GIPR modulator discovery effort [3]

Core Viewpoint - The Chinese stock market is experiencing renewed optimism as major financial institutions upgrade their ratings on Chinese stocks, driven by government policy actions and potential earnings growth [1][2]. Group 1: Market Outlook - Goldman Sachs has raised its rating on Chinese stocks to "overweight," anticipating an increase in benchmark valuations due to decisive policy actions by the Chinese government [1]. - Citigroup has also upgraded its ratings on Chinese consumer and real estate stocks, reflecting a positive sentiment in these sectors [1]. - Analysts from Goldman Sachs predict a potential upside of 15% to 20% for Chinese stocks, supported by recent strong rebounds and valuations below the median range [1]. Group 2: Index Targets - Goldman Sachs has increased its 12-month target for the MSCI China Index to 84 points and the CSI 300 Index to 4600 points, indicating a total return rate of 15% to 18% [1]. Group 3: Sector Preferences - Citigroup analysts favor internet stocks, maintaining an "overweight" stance due to strong fundamentals and positive effects from consumption stimulus measures [2].

Core Points - Cidara Therapeutics, Inc. announced the grant of stock options and restricted stock units (RSUs) to a new employee, Dipesh Bhatt, totaling 1,110 shares under the 2020 Inducement Incentive Plan, with an exercise price of $10.75 per share [1][2] - The stock options will vest over four years, with 25% vesting on the one-year anniversary and the remainder vesting in 36 equal monthly installments, while the RSUs will vest in four equal annual installments [1] - The equity award was granted as an inducement for the employee's entry into employment with Cidara, in compliance with Nasdaq Listing Rule 5635(c)(4) [2] Company Overview - Cidara Therapeutics utilizes its proprietary Cloudbreak® platform to develop drug-Fc conjugate (DFC) immunotherapies aimed at improving patient care for serious diseases [1][4] - The lead DFC candidate, CD388, is designed for universal prevention of seasonal and pandemic influenza with a single dose and has received Fast Track Designation from the FDA [4] - Cidara is also developing additional DFCs for oncology, including CBO421, which targets CD73 in solid tumors and received IND clearance in July 2024 [4]

The Federal Reserve has terminated a decade-long enforcement action against Citigroup Inc. (C) , which was filed over weaknesses in the bank's anti-money laundering (AML) practices.Background of Citigroup’s Enforcement ActionIn March 2023, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency raised concerns over insufficient controls and risk management practices pertaining to the Bank Secrecy Act (BSA) and AML requirements.The enforcement action didn’t include any fin ...

The Federal Reserve has terminated a decade-old enforcement action against Citigroup that focused on deficiencies tied to the banking giant’s anti-money laundering (AML) practices.On Oct. 1, the central bank announced the termination of the 2013 action — one that had not carried a fine. But the action does discuss several changes to various bank-wide efforts to monitor and address risk, and to report its findings periodically to regulators.In terms of the consent order itself, the Fed had brought its action ...

Citigroup Inc. (C) and Apollo Global Management Inc. (APO) have inked a deal for a subsidiary of Citigroup and certain affiliates of Apollo to establish a revolutionary $25-billion private credit, direct lending program. The program will initially focus on North America, potentially expanding to additional geographies. Both companies expect the program to finance approximately $25 billion of debt opportunities over the next several years, including corporate and financial sponsor transactions.  Citigroup an ...

Citigroup Inc. (C) is in the limelight with the Federal Reserve’s aggressive start to monetary policy easing. During the Sept. 17-18 FOMC meeting, the Fed lowered the interest rate by 50 basis points after more than four years. Currently, the Fed fund rates stand in the 4.75-5% range. The central bank also indicated two more rate cuts this year and four in 2025. This is expected to bring rates down to 3.4% by the end of next year.The rate cut is a positive development for banks like Citigroup, Wells Fargo ( ...

The most recent trading session ended with Citigroup (C) standing at $62.58, reflecting a +0.71% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a gain of 0.28% for the day. Meanwhile, the Dow experienced a rise of 0.15%, and the technology-dominated Nasdaq saw an increase of 0.15%.Heading into today, shares of the U.S. bank had 0% over the past month, lagging the Finance sector's gain of 3.08% and the S&P 500's gain of 2% in that time.Investors will be eager ...