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The Latest Breaking News from Citi

Intel Goes On Austerity Drive To Take On Rivals Like TSMC

Intel Corp (NASDAQ: INTC) has paused hiring in the PC desktop and laptop chips division as part of cost-cutting measures, Reuters reports. In its most recent quarter, Intel's client computing group raked $9.3 billion of its $18.4 billion in revenue. Intel could resume some hires within two weeks after the division re-evaluates priorities to…

Benzinga

Citi Sees Intel's Bear Case Taking Shape Sooner Than Expected

At a competitor conference on June 7, Intel Corp (NASDAQ:INTC) appeared to talk down the quarter as company management mentioned that circumstances were worse than expected during the quarter due to reduced inventory levels at customers and delays in normalization post-COVID lockdowns in China. Previously, Citi published multiple updates on flagging PC…

Benzinga

Citi Recommends Nvidia, Marvell To Seek Refuge Amid Semiconductor Downturn

Citi hosted meetings at NVIDIA Corp (NASDAQ:NVDA), Applied Materials, Inc (NASDAQ:AMAT), and Marvell Technology, Inc (NASDAQ:MRVL) as part of the Annual Silicon Valley Tech Bus Tour. Marvell confirmed a lack of slowdown in cloud data center demand and a disproportionate amount of growth or 50%+ coming from new product cycles. Applied Materials looked to benefit from…

Benzinga

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Citi Aggressively Chases Growth In Asia, Especially China Amid Odds

In an interview with Reuters, Citigroup, Inc (NYSE:C) Asia chief shared plans to appoint 3,000 new employees for its Asia institutional business in the next few years. Asia became a battlefield for global banks chasing its vast economies, growing wealth, and relative growth beat most other places. Peter Babej saw the accumulated wealth…

Benzinga

Citigroup Looks To Hire Over 4K Tech Specialists To Tap Pandemic Induced Digital Boom

Citigroup, Inc (NYSE:C) looks to hire over 4,000 tech staff to help shift its institutional clients online following the pandemic, Bloomberg quoted from an interview with Jonathan Lofthouse. The head of markets and enterprise risk technology acknowledged that over 1,000 recruits would join the market technology team under an aggressive growth strategy. It…

Benzinga

Citi's Fat-Finger Gaffe Could Cost It Over $50M

Citigroup, Inc (NYSE:C) could cough up losses of over $50 million following a London-based worker's fat-finger trade, causing a flash crash in European stocks in May, Reuters reports. Citi is still tallying losses from the erroneous trade, and the final figure could further mount. A trader in the London's Delta One trading…

Benzinga

Shocking moment a gust of wind almost knocked over world's 7th tallest building

In 1978 an undergraduate student at Princeton University cold called an architect’s office and helped prevent one of the world’s tallest buildings from being knocked over in New York

Daily Mirror

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Should You Use a Credit Card Travel Portal?

Some credit cards come with travel portals, where you can redeem points and miles for trips. Is it the best option?

Kiplinger

3 Warren Buffett Bank Stocks That Yield More Than 3%

Concerns over heightened inflation pressures and the Federal Reserve's aggressive interest rate hikes have increased volatility. Given recession concerns, dividend stocks ensure a regular income stream and could be wise. Thus, Warren Buffett's dividend-paying bank stocks, The Bank of New York (BK), Citigroup (C), and U.S. Bancorp (USB), could be…

StockNews.com

Here's Why Citi Remains Bullish On Amazon Despite Knocking It Off Focus List

Citi analyst Ronald Josey considers Amazon.com Inc (NASDAQ: AMZN) vulnerable to softening consumer spending trends.

Benzinga

Warren Buffett Exits Wells Fargo And Buys Stake In Its Rival Bank

Berkshire Hathaway Inc (NYSE: BRK-B) bought $3 billion worth of shares in Citigroup Inc (NYSE: C) in Q1, giving the group a stake of about 2.8%, according to filings with regulators.

Benzinga

Citigroup: Buy, Sell, or Hold?

The shares of the renowned megabank Citigroup (C) have slumped more than 20% in price this year. Furthermore, with geopolitical issues taking a toll on the global economy and Wall Street seeing a risk of default by major banks, is C a smart investment now? Read on.

StockNews.com

Better Buy for 2022: Citibank vs. JPMorgan Chase

In this article I will analyze and compare Citigroup (C) and JPMorgan Chase (JPM) to determine which stock is currently a better investment.

StockNews.com

Google Jumps The Crypto Bandwagon To Win Cloud Market From Alibaba, Amazon, Microsoft

Alphabet Inc’s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google cloud unit formed a team to build services for developers running blockchain applications to tap the budding crypto market, CNBC reports. Former Citi executive James Tromans, who arrived at Google in 2019, will lead the product and engineering group. Google wants to offer back-end services to developers…

Benzinga

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The Guardian - UK

Citigroup says trader made error behind ‘flash crash’ in Europe

Inputting mistake led to suspension of trading on several markets after sudden steep falls

Benzinga

Galera Posts Topline Data From Avasopasem Study In Chemoradiotherapy-Induced Esophagitis

Galera Therapeutics Inc (NASDAQ:GRTX) announced topline results from Phase 2a AESOP trial of avasopasem for severe acute radiation-induced esophagitis in lung cancer patients receiving concurrent chemoradiotherapy. Esophagitis is an early side effect of radiation or chemoradiation, causing pain, difficulties in swallowing with potential malnutrition, and dehydration. The trial enrolled 39 patients with unresectable…

Benzinga

Here's Why Analysts Remained Bullish On Western Digital Post Q3

Analysts reiterated their ratings on Western Digital Corporation's (NASDAQ: WDC)

Benzinga

Here's How Analysts Responded To Mastercard's Q1

Analysts maintained their conviction on Mastercard Incorporated (NYSE: MA)

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Benzinga

Morning Brief: Top Financial Stories Dominating on Wednesday, April 27

Reuters Kellogg Sues British Government Over New Sugar Rules

Benzinga

FDA Plans To Convene AdComm For Ardelyx's Tenapanor For CKD Patients On Dialysis

The FDA's Office of New Drugs (OND), Center for Drug Evaluation and Research (CDER), has provided an interim response to Ardelyx Inc's (NASDAQ:ARDX) second level of appeal of the Complete Response Letter (CRL) for Xphozah. Ardelyx is seeking approval for Xphozah to control serum phosphorus in adult patients with chronic kidney disease (CKD) on…

Asharq Al-Awsat

Gucci in Focus as China Lockdowns Weigh on Kering Q1 Sales

Disruptions from COVID-19 lockdowns in China cast a cloud on forecast-beating first-quarter sales from Gucci owner Kering on Thursday, even as the group pointed to sustained demand from the United States and Western Europe for its high-end fashion and leather goods labels. Group sales for the three months ending in…

Benzinga

Read How Analysts Reacted To Halliburton's Q1 Results

Analysts updated ratings and price target for Halliburton Company (NYSE:HAL) after Q1 results. Citi analyst Scott Gruber raised the price target to $48 (an upside of 19.6%) from $44 while maintaining the Buy rating on the shares. Gruber states that expectations for HAL were high coming into the quarter. The analyst utilizes 38% increments in…

Benzinga

Here's Why Citi Added Amazon To Focus List

Citi analyst Ronald Josey assumed coverage of Amazon.com Inc (NASDAQ:AMZN) with a Buy rating and price target of $4,100, down from $4,115 (29.7% upside). Josey also added the shares to the firm's Focus List, given its lead eCommerce, Online Advertising, and Cloud and operational efficiencies at its new Fulfillment Centers, physical retail location closures, and…

Benzinga

Citi Downgrades NXP Semiconductors - Read Why

Citi analyst Christopher Danely downgraded NXP Semiconductors NV (NASDAQ:NXPI) to Neutral from Buy with a price target of $190, down from $240 (6.8% upside), as his margin expansion thesis has played out. Danely derived his Buy thesis in February 2021 from the anticipation of superior margin/EPS upside and strength from the automotive end market.…

Benzinga

Here's Why Analysts Remained Bullish On Microsoft Despite Price Target Cut

Two analysts remained bullish despite slashing their price targets on Microsoft Corp (NASDAQ:MSFT). Citigroup analyst Tyler Radke maintained Microsoft with a Buy and lowered the price target from $386 to $355 (24.8% upside). Amidst rising investor concerns around the sustainability of robust software demand and valuation multiples, Citi analyst Tyler Radke expects MSFT's results to…

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