KEY TAKEAWAYSCitigroup shares fell after it reported higher fourth-quarter charges than previously anticipated linked to its exposure to Argentina and Russia, as well as its restructuring.Citi said it set aside $1.3 billion in reserves to cover its exposure to Argentina and Russia.The FDIC's special assessment led to expenses of $1.7 billion.Citi is due to release its fourth-quarter results Friday morning.Citigroup (C) shares fell more than 2% in early trading Thursday after it reported higher fourth-quarte ...

Citigroup Inc. (C) disclosed certain items impacting its pre-tax fourth-quarter 2023 results to enhance transparency. Citigroup recorded combined charges and reserves of $3.78 billion, which is expected to affect its fourth-quarter earnings.C added $1.3 billion to its reserves to protect itself against risk exposures in Argentina and Russia. The currency devaluation and geopolitical risks in Argentina are likely to have affected its ability to sustain external debt service. C, therefore, set aside $720 mill ...

About this content About Stephen Gunnion Stephen Gunnion is a senior financial journalist and broadcaster at Proactive Investors. He has more than 25 years of experience in television, radio and print media, anchoring on a number of television channels including South Africa's Business Day TV, CNBC Africa and the South African Broadcasting Corporation, where he was the economics editor. He has also worked for Daily Maverick, Bloomberg, the Business Day newspaper and Investors' Chronicle. Read more About ...

Citigroup warned investors late Wednesday that charges tied to the decline of the Argentine peso as well as the bank's reorganization came in far higher than disclosed by the company's CFO just weeks ago.The bank said its fourth-quarter results, scheduled to be released Friday morning, were impacted by $880 million in currency conversion losses from the peso and $780 million in restructuring charges tied to CEO Jane Fraser's corporate simplification project.Those charges are significantly higher than the "c ...

Citigroup Inc. on Wednesday said it set aside $1.3 billion in the fourth quarter to account for risks in Argentina and Russia, citing shocks to both nations’ economies, and said it booked other charges related to its own organizational overhaul and payments stemming from last year’s bank failures. The disclosure from the bank, in an SEC filing, was made as it prepares to report fourth-quarter results on Friday, and as Argentina undergoes harsh austerity measures and Russia deals with the fallout from its wa ...

Momentum investors typically don't time the market or "buy low and sell high." In other words, they avoid betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ahead of their future growth potential. In such a situation, invest ...

Investors have to get creative right now to find cheap stocks in the S&P 500, with the index up 15% from a low point in late October and nearing its record high. ...

NEW YORK--(BUSINESS WIRE)--Citi today announced that it will donate over $6.6 million in support of education-focused non-profit organizations as part of its 2023 e for education campaign. With this donation, the campaign is set to donate over $73 million in aggregate since its inception in 2013, and has helped non-profit organizations support over 2 million young people. Citi Markets donates a percentage of business proceeds traded electronically during an annual eight-week campaign from September to O ...

JHVEPhoto My recent Citigroup (NYSE:C) article described it as an asymmetric risk-rewards opportunity. The stock was trading at less than 0.6x tangible book value ("TBV") which indicates that Mr. Market was assuming a return on tangible common equity ("RoTCE") at around mid-single-digit. Whereas the management team is guiding for 11% to 12% RoTCE in the 2025-2026 period. There remains a huge disconnect between what the market valuation is implying and the guidance by the company. This has to converge in the ...

有很多时刻定义了2023年。但对于企业信贷投资者来说，回顾过去12个月，有一件事可能会引人注目：企业能够摆脱融资成本增长两倍的惊人程度。 智通财经APP注意到，美联储以数十年来最快的速度加息，这不仅是因为投资者长期预测的企业违约潮没有成为现实，而且由于担心可能出现的经济衰退，许多公司在去年的大部分时间里都在改善自己的资产负债表。 今年是企业信贷意外强劲的一年，公司债评级大幅上调，穆迪、标准普尔和惠誉调高了价值约2,820亿美元的蓝筹债券评级。 然而，现在的问题是，这种良好的行为是否会持续到2024年。花旗集团策略师Daniel Sorid和James Keefe认为有理由保持谨慎。 他们写道，在信贷投资者的记忆中，过去的18个月“不仅是一段经济衰退得以预防的时期，而且是美国高评级公司债券发行人资产负债表管理的黄金时代，它们以异常严格的债务管理应对EBITDA的急剧上升”。 然而，进入2024年，“量化指标表明，非金融IG(投资级)公司对债权人友好的反常时期已经结束。我们认为，即使EBITDA在2024年不会从增长转为收缩，信贷指标和评级的进一步改善也不太可能。” 近几个月来，花旗已不是第一次就企业资产负债表 ...