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Citigroup buoyed by capital markets, economy

Citigroup Inc's quarterly profit beat Wall Street estimates as the third-largest bank cut expenses and benefited from an improved economy and more active capital markets after a dismal end to 2011.

Citigroup Narrowly Misses Analyst Earnings Expectations

Citigroup Inc. (NYSE: C) kicked off Monday morning by announcing underwhelming first-quarter earnings that narrowly missed analyst expectations on both profit and revenue. The New York-based banking giant reported earnings of $2.93 billion, or 95 cents per share on revenues of $19.41 billion. Earnings a year ago had been reported as $3 billion, or $1 a share, on revenues of $19.73 billion. Analysts had expected earnings to be flat from year-ago results.

Wall Street opens higher as banks lead

Wall Street opened higher on Monday as retail sales in March eased concerns about a slowing economic recovery and Citigroup earnings helped lift bank shares.

Citigroup Beats 1Q Earnings Estimates As Expenses Drop

Citigroup's first-quarter earnings beat Wall Street estimates as expenses fell 7 percent from the 2011 fourth quarter.

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Stock futures gain after weekly drop; retail sales eyed

Stock index futures advanced on Monday ahead of retail sales data, indicating the S&P 500 may climb after suffering its worst weekly decline of the year.

US Futures Up Ahead Of Retail Sales Data

Futures on major US stock indices point to a higher opening on Monday ahead of economic data including retail sales.

A Goldman Sachs sign is seen on at the company's post on the floor of the New York Stock Exchange, Jan. 18, 2012

Goldman Sachs Sells $2.3 Billion Of ICBC Shares To Temasek Holdings

Temasek Holdings, the Singapore state-owned investment group, has agreed to buy $2.3 billion worth of shares in the Industrial and Commercial Bank of China (ICBC) from Goldman Sachs, a move that is seen as part of its strategy to increase investment in emerging economies.

Wall Street Week Ahead: Stocks Expected To Track Earnings With Eye On Europe

After suffering their worst two weeks of the year, stocks will look to quarterly earnings to determine whether the recent pullback has been exhausted or more losses are justified.

33 Key Earnings Reports To Watch, April 16-20

Earnings season will kick into full gear next week with results due from major players. The stock market had an incredible first quarter with double-digit percentage gains, and the flood of company earnings reports will largely decide which way the market will be going from here.

Citigroup's 1Q Earnings Expected To Be Flat

Analysts expect quarterly revenue of $19.85 billion, which would be a bump up from the $19.73 billion Citi posted a year ago. Net income is expected to be 99 cents a share, compared with $1 a share in the first quarter of 2011.

A U.S. flag flies above Wells Fargo & Co headquarters in San Francisco

Wells Fargo Seen Riding Wave of Mortgages to Solid 1Q Earnings

Wells Fargo & Co. (NYSE: WFC) is expected to report a big jump in quarterly earnings and a small rise in revenue on increasing mortgage refinancing during the first three months of the year.

Nikkei steady, optimism remains despite ugly earnings

Asian Stocks Advance; Nikkei Snaps Seven-Day Losing Streak

Asian stock markets gained Thursday, following a rebound on Wall Street overnight on easing eurozone worries and hopes for a better-than-expected US earnings season after solid start from Alcoa.

Proxy Firms Back Splitting Of Chairman, CEO Posts At Wells Fargo

Two proxy advisory firms are backing a shareholder proposal to split the roles of chairman and chief executive at Wells Fargo & Co , putting pressure on another U.S. bank to revamp its leadership structure.

The JP Morgan and Chase headquarters is seen in New York in this Jan. 30, 2008, file photo. REUTERS/Shannon Stapleton

JP Morgan Chase, Wall Street Enigma, Sees Earnings Upside

That Wall Street expects J.P. Morgan to outperform its peers shouldn't come as a surprise. Besides being the biggest, it's arguably among the three or four most stable big banks.

Federal Judge Approves $25B Mortgage Pact

A federal judge approved a $25 billion mortgage settlement with five top U.S. banks over allegations of foreclosure abuses and misconduct in servicing home loans, according to court documents.

$100 Million Sought as New Discrimination, Immigration Violations Complaint Filed against L&T

In a new twist to the class claims lawsuit against India-based conglomerate Larsen & Toubro and its U.S. subsidiary L&T Infotech, an amended complaint has been filed to include yet another former female employee of the company who has alleged gender and pregnancy discrimination, and has also outlined in detail massive immigration violations that the company was indulging in.

IBM’s ‘Cosmic Contract’ To Yield Dividends In ‘Big Data’ Computer Design

IBM (NYSE: IBM) and the Netherlands Institute for Radio Astronomy announced a five-year deal for computer support for the world’s most sensitive telescope.

RIM Reboot: New CEO Reports Loss; Ousts Co-Founder Balsillie

Research In Motion Ltd. (Nasdaq: RIMM), the BlackBerry developer, reported a net loss of $125 million, or 24 cents a share, for the fourth quarter, as revenue plunged 25 percent to only $4.19 billion.

Startup Basho Challenging Oracle In Database, Cloud Markets

Basho, a four-year-old startup, is challenging giants like Oracle (Nasdaq: ORCL) and EMC (NYSE: EMC) in the database market as well as new products for the Cloud, or Internet-based computing.

China allocates $24 billion foreign debt quota to foreign banks

China has allocated $24 billion in long-term foreign debt quotas to foreign banks for 2012 to allow the lenders to bring more money into the Chinese economy, the National Development and Reform Commission said on Thursday.

Bank of America CEO made $8.1 million in 2011

Bank of America Corp Chief Executive Officer Brian Moynihan made $8.1 million in total compensation last year, more than four times the $1.9 million he received in 2010, according to a filing with the U.S. Securities and Exchange Commission on Wednesday.

BRICS: A Profile Of The World's Emerging Powerhouses

Within three years, the combined GDP of Brazil, Russia, India, China and South Africa is forecast to exceed that of the United States. China is expected to become the world's No. 1 economy by 2027.

RIM 4Q Earnings Preview: Can BlackBerry Maker Reboot Success?

Investors wonder if Research In Motion Ltd., which reports quarterly results Thursday, can rebound from recently anemic performance due to falling sales of its BlackBerry device. RIM's turnaround is being led by Thorsten Heins, who took over as CEO in January.

Deals Increase with Need for More Network Security

Advanced hacking attacks by groups such as Anonymous and the prevalence of mobile devices like Apple Inc's iPhone are spurring demand for more sophisticated protection, making niche network security firms prime takeover targets, analysts and experts said.

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