Wall Street analysts expect Citigroup (C) to post quarterly earnings of $1.36 per share in its upcoming report, which indicates a year-over-year decline of 10.5%. Revenues are expected to be $19.91 billion, down 1.2% from the year-ago quarter.The consensus EPS estimate for the quarter has undergone a downward revision of 2.9% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Ahead of a c ...

Citibank lawyers urged a judge Tuesday (Oct. 8) to throw out a suit filed in January by New York Attorney General Letitia James that accuses the bank of failing to protect fraud victims.The lawyers argued that the bank has protections in place for consumers and that a New York victory in the lawsuit would result in a “dramatic shift” in how electronic payments are processed, Bloomberg reported Tuesday.Julia Strickland, an attorney representing Citibank, argued that major banks use multiple layers of fraud d ...

FOSTER CITY, Calif., Oct. 07, 2024 (GLOBE NEWSWIRE) -- Terns Pharmaceuticals, Inc. (“Terns” or the “Company”) (Nasdaq: TERN), a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology and obesity, today announced that it has granted as of October 1, 2024 an equity inducement award to a new employee under the terms of the 2022 Employment Inducement Award Plan, as amended (the “Inducement Plan”). The equity award was ...

As the Chinese stock market reopens after the National Day holiday, investors are keen to see if the pre-holiday rally will continue. Goldman Sachs has raised its rating on Chinese stocks to "overweight," anticipating an increase in benchmark valuations. This optimistic view stems from the Chinese government's decisive policy actions that have improved valuations.Citigroup has also upgraded its ratings on Chinese consumer and real estate stocks. According to a report from Goldman Sachs, analysts like Tim Mo ...

SAN DIEGO, Oct. 04, 2024 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (Nasdaq: CDTX), a biotechnology company using its proprietary Cloudbreak® platform to develop drug-Fc conjugate (DFC) immunotherapies designed to save lives and improve the standard of care for patients facing serious diseases, today announced that the Compensation Committee of its Board of Directors (Compensation Committee) granted Dipesh Bhatt, a new employee, a non-qualified stock option award and restricted stock units (RSUs) for an ...

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 ...