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Citigroup

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109 stories mentioning CitigroupUpdated 9d ago

Citigroup launched tokenized depositary receipts for private-company shares, expanding its use of blockchain technology in private markets.

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Wire

Update: ByteDance Reportedly Secures $29.6 Billion Loan for AI Financing

(Updates with Citigroup declining to comment in the last paragraph)ByteDance has received a $29.6 billion loan to build its artificial intelligence capabilities, with financing coordinated by JPMorgan Chase (JPM) and Citigroup (C), media outlets recently reported, citing people familiar with the matter.The company was initially seeking a $20 billion facility, but raised the amount after receiving strong commitments from banks, Bloomberg reported Wednesday evening.The loan is Asia's second-largest borrowing this year, the reports added.JPMorgan and Citigroup declined to comment, while ByteDance did not immediately respond to' request for comment on Friday.Price: $136.96, Change: $-1.20, Percent Change: -0.87%

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Sectors

Sector Update: Financial Stocks Higher Late Afternoon

Financial stocks were advancing late Wednesday afternoon, with the NYSE Financial Index adding 1% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.9%.The Philadelphia Housing Index increased 0.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.7%.Bitcoin (BTC-USD) was declining 0.2% to $77,230, and the yield on 10-year US Treasuries was steady at 4.796%.In economic news, ADP's monthly measure of private payrolls showed a 38,000 rise in August, below a 47,000 gain expected in a Bloomberg survey, following a 46,000 increase in July.New orders for US factory goods rose by 0.9% in July, above expectations for a 0.7% increase in a survey compiled by Bloomberg and following a 0.2% decrease in June.In corporate news, Capital One Financial (COF) was pressed by Democratic Senator Maggie Hassan for details about an internal anti-money laundering review that the bank said last month had led to the closure of accounts tied to President Donald Trump and his businesses, Reuters reported Wednesday, citing a letter sent by the senator to Capital One CEO Richard Fairbank Tuesday. Capital One shares were up 2.8%.KKR (KKR) has agreed to buy residential garage door repair and replacement company A1 Garage Door Service for about $2 billion, Reuters reported. KKR shares rose 0.9%.TPG (TPG) has filed a confidential application to list hospital assets worth nearly $8 billion in Malaysia, The Wall Street Journal reported. TPG shares added 0.4%.Citigroup's (C) Citibank NA London Branch has been fined about 4.7 million British pounds ($6.3 million) under the UK's Russia sanctions regime, Britain's Office of Financial Sanctions Implementation said. Citi shares were up 1.4%.

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Sectors

Sector Update: Financial Stocks Rise Wednesday Afternoon

Financial stocks were advancing Wednesday afternoon, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each adding about 0.8%.The Philadelphia Housing Index was climbing up 1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.7%.Bitcoin (BTC-USD) was declining 0.4% to $77,105, and the yield for 10-year US Treasuries was slightly lower at 4.792%.In economic news, ADP's monthly measure of private payrolls showed a 38,000 rise in August, below a 47,000 gain expected in a Bloomberg survey, following a 46,000 increase in July.New orders for US factory goods rose by 0.9% in July, above expectations for a 0.7% increase in a survey compiled by Bloomberg and following a 0.2% decrease in June.In corporate news, KKR (KKR) has agreed to buy residential garage door repair and replacement company A1 Garage Door Service for about $2 billion, Reuters reported. Shares rose 0.6%.TPG (TPG) has filed a confidential application to list hospital assets worth nearly $8 billion in Malaysia, The Wall Street Journal reported. TPG shares added 0.6%.Citigroup's (C) Citibank NA London Branch has been fined about 4.7 million British pounds ($6.3 million) under the UK's Russia sanctions regime, Britain's Office of Financial Sanctions Implementation said. Citi shares were up 0.8%.

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Sectors

Sector Update: Financial Stocks Advance Premarket Wednesday

Financial stocks were advancing premarket Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.3% higher.The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.9% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.7% lower.Manulife Financial (MFC) shares were down more than 3% after the company priced a $750 million public offering in the US of 6.146% subordinated notes due 2041.Citigroup's (C) Citibank NA London Branch has been fined about 4.7 million British pounds ($6.3 million) under the UK's Russia sanctions regime, Britain's Office of Financial Sanctions Implementation said. Citigroup stock was 0.4% higher pre-bell.Prudential (PUK) has increased its share buyback program to about $1.47 billion from $1.2 billion. Shares of Prudential were slightly lower premarket.

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Sectors

Sector Update: Financial Stocks Fall Premarket Tuesday

Financial stocks were leaning lower premarket Tuesday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.4% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.3% higher.Citigroup (C) is planning to expand its global corporate banking team that serves North Asian clients by about 25% in 2026, Bloomberg reported, citing a company executive. Citigroup stock was down 0.5% pre-bell.Morgan Stanley's (MS) investment management unit and Mitsubishi UFJ Financial (MUFG) have begun talks to form a collaboration that will help a diverse group of institutional investors participate in developing Japan's private credit market. Shares of Morgan Stanley were nearly 1% lower premarket.Ares Management (ARES) has closed the Japan Logistics Development Partners V LP fund, raising 612 billion Japanese yen ($3.82 billion). Ares Management shares were 0.5% lower pre-bell.

$ARES$C$FAS$FAZ$MS$XLF
Sectors

Sector Update: Financial

Financial stocks were leaning lower premarket Tuesday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.2%.The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.4% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.3% higher.Citigroup (C) is planning to expand its global corporate banking team that serves North Asian clients by about 25% in 2026, Bloomberg reported, citing a company executive. Citigroup stock was down 0.5% pre-bell.

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Wire

Market Chatter: JPMorgan, Others Explore Stablecoins Despite Earlier Skepticism

Major banks, including JPMorgan Chase (JPM), are becoming more open to launching their own stablecoins despite earlier doubts about demand, The Wall Street Journal reported Wednesday, citing unnamed people familiar with the matter.According to the report, JPMorgan recently evaluated whether it could introduce its own stablecoin, though discussions are still preliminary and no product is currently in development. However, the bank already has a tokenized deposit called JPM Coin and its own blockchain, the report added.The bank said it has no plans to issue a stablecoin for now but could consider it based on customer demand and regulatory developments, the report said.JPMorgan didn't immediately reply to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $355.77, Change: $-0.92, Percent Change: -0.26%

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Wire

Major Banks Explore Stablecoins Despite Earlier Skepticism, WSJ Reports

Major Banks Explore Stablecoins Despite Earlier Skepticism, WSJ Reports

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Wire

Update: Market Chatter: Citigroup Working With Axis Bank to Finance NRI Foreign-Currency Deposits

(Updates with Citigroup's response in the fourth paragraph.)Citigroup (C) has partnered with Axis Bank to finance non-resident Indians investing in foreign-currency deposits with the Indian lender, Bloomberg News reported Monday, citing unnamed people familiar with the matter.Axis Bank is providing standby letters of credit to support financing that Citigroup extends through its offshore operations, allowing investors to leverage their deposited funds, according to the report.The arrangement gives foreign banks a way to participate in the growing deposit market without having an Indian retail-banking presence.Citigroup said it was unable to comment, while Axis Bank did not respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $131.83, Change: $+0.17, Percent Change: +0.13%

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Sectors

Sector Update: Financial Stocks Advance Pre-Bell Monday

Financial stocks were advancing pre-bell Monday, with the State Street Financial Select Sector SPDR ETF (XLF) up 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was 0.2% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 0.3%.Aegon (AEG) shares were up more than 1% after the company said it has increased its H2 share buyback program by 150 million euros ($174.9 million) to 350 million euros, effective Monday.Paysafe (PSFE) stock was up more than 1% after the company said it launched a video gaming platform designed to connect players, developers, and publishers through game discovery, rewards and community features.Citigroup (C) has partnered with Axis Bank to finance non-resident Indians investing in foreign-currency deposits with the Indian lender, Bloomberg News reported, citing unnamed people familiar with the matter. Citigroup shares were marginally higher premarket.

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Sectors

Sector Update: Financial Stocks Advance Pre-Bell Friday

Financial stocks were advancing pre-bell Friday, with the State Street Financial Select Sector SPDR ETF (XLF) up 0.5%.The Direxion Daily Financial Bull 3X Shares (FAS) was 1.3% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 1.1%.KKR (KKR), with Dragoneer Investment Group (DGNR) and insurance distributor Amwins, agreed to acquire Steadfast Group in a deal worth approximately 7.7 billion Australian dollars ($5.52 billion), the Australian insurance broking giant said. KKR shares were up more than 2% premarket.Goldman Sachs (GS) is gaining ground in India's government share-sale market, securing mandates for five of the 10 major transactions since the latest divestment wave began in December, Bloomberg reported. Goldman Sachs stock was 1% higher pre-bell.Citigroup (C) may be added to the group of investment banks advising Anthropic on a potential initial public offering, joining Morgan Stanley (MS), Goldman Sachs and JPMorgan Chase (JPM), Bloomberg reported. Citigroup shares were up more than 1% premarket.

$C$FAS$FAZ$GS$JPM$KKR$MS$XLF
Wire

Universal Technical Institute Secures $200 Million Revolving Credit Facility

Universal Technical Institute (UTI) said Tuesday it entered into a new credit agreement providing a $200 million senior secured revolving credit facility, replacing its existing $125 million facility with Fifth Third Bancorp's (FITB) Fifth Third Bank.The five-year facility, which expires in August 2031, includes a $15 million sublimit for swingline loans and $75 million for letters of credit, up from $20 million previously. It also allows for up to $75 million of additional uncommitted facilities.Fifth Third Bank is serving as lender, administrative agent, joint lead arranger and sole bookrunner, with JPMorgan Chase (JPM), Truist's (TFC) Truist Bank, Citigroup's (C) Citibank and PNC Financial Services' (PNC) PNC Bank also participating.Universal Technical Institute said it expects to use the facility for working capital, internal initiatives, acquisitions and other activities tied to its North Star growth strategy.Price: $26.45, Change: $+0.29, Percent Change: +1.11%

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Wire

Update: Lincoln Educational Services Shares Fall After Soft Q2 Student Start Growth

(Updates with stock movement in the headline and first paragraph.)Lincoln Educational Services (LINC) tumbled 24% in Monday trading after the company reported lower-than-expected student start growth of only 1% in Q2.The company said it still expects to meet its full-year guidance of 10% to 14% growth in student starts.Q2 earnings rose to $0.06 per diluted shares from $0.05 a year earlier, the company said Monday.Analysts surveyed by FactSet expected breakeven.Revenue in the three months ended June 30 rose to $142.6 million from $116.5 million.Analysts expected $139.5 million.The company continues to expect full-year EPS of $0.74 to $0.83 on revenue of $590 million to $600 million.Analysts expect EPS of$0.78 on revenue of $594.9 million.Price: $31.21, Change: $-9.78, Percent Change: -23.86%

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Wire

Update: Intel Offers $15 Billion of Common Stock; Shares Decline

(Updates to include Intel's stock movement in the headline and first paragraph.)Intel (INTC) shares were down more than 4% in Monday trading after the company said it is offering $15 billion of common stock in a public offering, the proceeds of which will go toward general corporate purposes, including capital expenditures and working capital.The company said it expects to grant underwriters a 30-day option to purchase up to an additional $2.25 billion of common stock at the public offering price.J.P. Morgan (JPM), Goldman Sachs (GS), Morgan Stanley (MS) and Citigroup (C) are acting as joint book-running managers.Price: $97.10, Change: $-4.55, Percent Change: -4.48%

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Wire

Market Chatter: Citigroup Hires Bank of America's Rohan Sen to Lead Tech Services Banking

Citigroup (C) has hired Rohan Sen from Bank of America (BAC) to lead technology services banking, Reuters reported Monday, citing an internal memo.Sen joins Citigroup after 11 years at Bank of America, where he was a managing director in technology investment banking, according to the report.Citigroup and Bank of America did not immediately respond to requests for comments from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $132.55, Change: $+0.77, Percent Change: +0.58%

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Wire

UBS Cuts Citigroup Price Target to $142 From $150, Maintains Neutral Rating

Citigroup (C) has an average rating of overweight and mean price target of $155.55, according to analysts polled by FactSet.Price: $131.41, Change: $-1.04, Percent Change: -0.78%

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Most US Banks Beat Earnings Forecasts Amid Favorable Revenue Trends, Raymond James Says
US Markets

Most US Banks Beat Earnings Forecasts Amid Favorable Revenue Trends, Raymond James Says

Most reporting banks in the US have beaten earnings forecasts for the second quarter, driven by favorable revenue trends, Raymond James said in a report Monday.Some 66% of the 430 publicly traded banks have topped earnings-per-share estimates, said Raymond James' analysts, who used Friday as the cutoff date for their analysis. The banking industry reported a 74% beat rate in the first quarter and 77% in the year-ago period.Median revenue grew 3.9% quarter over quarter, up from 0.6% growth in the prior quarter but down from 4.9% a year earlier. Net interest income and fee revenue growth accelerated sequentially, but slowed year on year, according to the note."While elevated macro uncertainty continues to linger, asset quality remains broadly favorable," Raymond James said.Earlier in the month, big banks JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs (GS), Citigroup (C), Wells Fargo (WFC) and Morgan Stanley (MS) beat second-quarter expectations, driven by investment banking and trading gains."With most 2026 outlooks largely reiterated and core fundamental drivers intact, consensus estimates continue to possess an upward bias, with a net 38% of 2026 estimates raised and a net 19% of 2027 estimates raised," Raymond James' analysts wrote.S&P 500 companies' second-quarter earnings growth reached 70%, driven by the information technology sector, where profits nearly tripled year on year, Oppenheimer Asset Management said Monday. The financials industry has seen earnings rise by 31% and revenue grow 17% annually.

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Wire

Market Chatter: Coca-Cola Working With JPMorgan, Citi on India IPO for Bottler

Coca-Cola (KO) appointed JPMorgan Chase (JPM) and Citigroup (C) as the bankers for a planned initial public offering in 2027 for majority-owned Hindustan Coca-Cola Holdings in India, Reuters reported Monday, citing two sources with direct knowledge of the matter.The companies didn't immediately reply to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $81.98, Change: $+0.42, Percent Change: +0.51%

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Wire

Coca-Cola Working With JPMorgan, Citi on India IPO for Its Bottling Firm, Reuters Reports

Coca-Cola Working With JPMorgan, Citi on India IPO for Its Bottling Firm, Reuters Reports

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Equities

Magnolia Oil & Gas to Acquire WildFire Energy for $4.06 Billion

Magnolia Oil & Gas (MGY) said Monday that it has signed a definitive agreement to acquire WildFire Energy for about $4.06 billion, including debt and subject to customary purchase price adjustments.Under the terms of the deal, WildFire shareholders will receive 32.2 million Magnolia shares, and Magnolia will also assume WildFire's $600 million of outstanding notes due 2029, according to a statement.Magnolia said it intends to fund the remaining amount through existing cash, debt, and new equity. The company said it has also secured committed financing from JPMorgan Chase (JPM), Citigroup (C) Global Markets, and Wells Fargo (WFC).The company added that it has amended its secured credit facility to a $2 billion borrowing base, with elected commitments of $1.75 billion subject to the transaction's completion.Magnolia said it expects the acquisition to be immediately and highly accretive to its cash flow and earnings per share, and to generate over $100 million in annual synergies and cost savings.Magnolia said the acquisition, expected to close in late Q3, has received unanimous approval from its board.Magnolia shares were up 1.5% in Monday's premarket activity.

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