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Source: au.rd.yahoo.com --- 2 days ago
Citigroup says it's aiming for nine per cent Revenue Growth as it looks to rebound from struggles tied to deterioration in the mortgage and credit markets. ... Source: www.iht.com --- 2 days ago
Citigroup says its is aiming for 9 percent Revenue Growth as it looks to rebound from recent struggles tied to deterioration in the mortgage and credit markets. ... Source: www.chron.com --- 2 days ago
NEW YORK — Citigroup Inc. said Friday it is aiming for 9 percent Revenue Growth as it looks to rebound from recent struggles tied to deterioration in the mortgage and credit markets. Citigroup generated $13.22 billion in Revenue during the first quarter, 48 percent less than the $25.46 billion it generated during the first three months of 2007. ... Source: www.compareshares.com.au --- 1 day ago
Citigroup says it's aiming for nine per cent Revenue Growth as it looks to rebound from struggles tied to deterioration in the mortgage and credit markets. ...
Source: thecurrent.theatlantic.com --- 22 days ago
Citigroup posted a $5.1-billion loss and announced 9000 layoffs. Analysts call it a "kitchen sink quarter." Companies in shell-shocked industries write down everything that even looks like it might go wrong, clearing the balance sheet for future Growth. For banking, that quarter was supposed to be the end of last year. Friday's earning report from Citibank, however, indicates that some in the industry might still have faulty plumbing yet to expose. After giant write-downs last quarter, Citibank again announced it needed to revalue its assets sharply downward. The financial giant took massive write-downs across multiple business lines, pushing Revenue into negative territory and causing its second consecutive quarterly loss. The bank has now written down almost $40 billion due to the credit crunch. The bank's woes offer snapshots of emerging trends. Its net interest margin -- the difference between its borrowing costs and its lending costs -- actually rose in the first quarter of 2007, thanks to cheap funds from the Federal Reserve. Nonetheless, the attempt to deleverage as quickly as possible cost dearly. Banking may be the only industry in which a CEO could proudly announce that "taken over the last two quarters, assets are down nicely." Fitch has cut the company's credit rating over concerns about the loss, and its future profitability. Citigroup's own view of its profitability seems hardly more optimistic. The loa ...
Source: www.kansas.com --- 22 days ago
Wall Street topped off a strong week with a big rally Friday, after results from companies such as Citigroup Inc. and Google Inc. helped ease investor anxiety about the health of corporate profits. Investors have been worried that recent data indicate a slowing economy, which would cut into profit Growth at some of the nation's biggest companies. But, results so far have shown that earnings, for the most part, are meeting or beating expectations, and the major indexes all posted gains of more than 4 percent for the week. Citigroup, the nation's biggest bank, encouraged investors with results that didn't contain any big surprises. The New York-based bank reported a loss of $5.1 billion during the first quarter because of poor bets on mortgages and leveraged loans, but the loss was half the $10 billion recorded for the preceding quarter. Google helped boost investor sentiment, as well as the tech-heavy Nasdaq composite index, by reporting first-quarter earnings and Revenue Growth that handily topped analysts' predictions. "This is the first week of earnings reports, and the marquee companies in general have been able to report good earnings, and the banks have been able to raise capital, and the market is responding to that," said Subodh Kumar, global investment strategist at Subodh Kumar & Assoc. in Toronto. ... Source: www.streetinsider.com --- 31 days ago
StreetInsider.com Notable Analyst Rating Changes: UPGRADES: Banc of America upgraded Semiconductors from Market Weight to Overweight. The firm upgraded Analog Devices (NYSE: ADI), Intel (Nasdaq: INTC), Power Integrations (Nasdaq: POWI), Semtech (Nasdaq: SMTC) from Neutral to Buy. Goldman Sachs upgrades Halliburton Company (NYSE: HAL) from Neutral to Buy, citing valuation and expected Revenue Growth. Morgan Stanley upgrades Westlake Chemical (NYSE: WLK) from Equal Weight to Overweight. For daily real-time Upgrades go to http://www.streetinsider.com/Upgrades DOWNGRADES: Citigroup downgrades PetroChina (NYSE: PTR) from Hold to Sell, saying an earnings disappointment is coming. Jefferies downgrades Virgin Media (Nasdaq: VMED) from Buy to Hold and cuts their price target to ... Source: www.pjstar.com --- 23 days ago
By JOE BEL BRUNO of The Associated Press NEW YORK - Wall Street jumped today as results from companies like Citigroup Inc. and Google Inc. helped ease investor anxiety about the health of corporate profits. The Dow Jones industrial average at times rose more than 200 points. Investors have been worried that recent data indicate a slowing economy, which would cut into profit Growth at some of the nation's biggest companies. But, results so far have shown that earnings are, for the most part, coming in within expectations. Citigroup, the nation's biggest bank, encouraged investors because there were no surprises in its report. The New York-based bank posted a $5.1 billion loss during the first quarter because of poor bets on mortgages and leveraged loans - still significantly less than the $10 billion loss suffered in the previous quarter. Late Thursday, Google posted first-quarter earnings and Revenue Growth that easily surpassed analysts' predictions. There had been some speculation on Wall Street that the search engine would turn in sluggish results because of slower online advertising Revenue. In late morning trading, the Dow jumped 201.60, or 1.60 percent, to 12,822.09. Broader stock indicators also rose. The Standard & Poor's 500 index increased 22.71, or 1.66 percent, to 1,388.27, and the Nasdaq composite index rose 56.74, or 2.42 percent, 2,398.57. Light, sweet crude rose $1.04 to $115.90 per barrel on the N ... Source: www.alleyinsider.com --- 40 days ago
Akamai (AKAM) investors are finally getting a breather: Shares of the Internet content distribution firm are up 7% this morning -- trading around $30.25 -- after Piper Jaffray upgraded the stock to "buy" and Citigroup reissued its "buy" rating yesterday. Shares had tumbled 16% from Feb. 7, the day after Akamai posted stellar Q4 results , until yesterday's close. Why buy Akamai? Piper analyst Aaron Kessler says, in a note summarized by Barron's editor Eric Savitz , that the company should have minimal impact from the slowing economy. Meanwhile, Kessler expects "volume bit Growth" -- the amount of data Akamai customers push across its network -- to stay strong (and possibly speed up); pricing and gross margin declines to moderate this year; and that application acceleration -- different from Akamai's content delivery business -- will kick in a greater amount of Revenue. Kessler also loves Akamai's patent portfolio -- it recently won a patent suit against rival Limelight Networks (LLNW), currently in appeals -- and its valuation. Meanwhile, Citi analyst John Reilly Walsh offers some explanations for Akamai's recent dip, also summarized by Savitz : Concerns about weak online ad and e-commerce business, highlighed by a recent comScore report showing anemic paid click Growth at Google (GOOG), Akamai's exposure to auction-rate securities , and concerns about Q1. See Also: Akamai Legal Victory Could Also Be Big Business ... Source: page2rss.com --- 24 days ago
News Corp Hit by Google, Yahoo Concerns Los Angeles Times Shares of Rupert Murdoch's News Corp. fell the most in five years after Bernstein Research and UBS cut their outlook, citing Growth concerns. "We are wary of News Corp.'s positioning in this intensely competitive business that features established players including Google and Yahoo." Disney May Face Decline in 2008 Film Sales Bloomberg / Fortune Disney faces the steepest drop in movie Revenue this year among the major U.S. studios, according to Citigroup. The media company has a "relatively weak slate" of releases. Also: Yahoo is "an interesting business but expensive for us," says Disney CEO Bob Iger. Time Warner to Cut 450 Jobs From New Line Time Warner will cut 450 jobs from New Line Cinema in a highly anticipated move following an earlier decision to fold the movie studio under the wing of Warner Bros. Entertainment. About 40 of New Line's employees will be offered new jobs at Warner Bros. GE CEO Immelt Under Pressure From Investors Bloomberg NBC Universal parent General Electric is predicting 2008 profit will increase no more than 5%, calling CEO Jeff Immelt's forecasting and strategy into question. Portfolio manager Peter Sorrentino says: "The board needs to ask, 'Are we really headed in the right direction?' " CBS's Moonves Faces Prime-Time Challenge New York Times While most of the news media is focused on the future of "CBS Ev ... Source: www.iddmagazine.com --- 1 day ago
As Citigroup continues to attempt a recovery from the credit crisis, its embattled leader announced plans Friday to unload $500 billion of legacy assets and a goal of 9% Revenue Growth over the next few years. ... Source: www.cto-toolkits.com --- 21 days ago
(IDG News Service) For the second straight month, a comScore report suggests that Google Inc. 's Revenue engine is slowing down, highlighting again the perils of the company's overwhelming dependence on a single type of online advertising to fuel its business. The report is available only to comScore clients, but a comScore spokesman said that its findings are accurately rendered in a note authored yesterday by Citigroup analysts Mark Mahaney and James Samford. A key takeaway from the Citigroup analysts: In February, clicks on Google's U.S. search ads grew 3.1% year-on-year. Considering that February had 29 days, the Growth rate would probably have been flat without the extra day, Mahaney and Samford wrote. Coupled with a 0.3% year-on-year decline in January, also per comScore, a trend is emerging that Google's pay-per-click (PPC) ad business may be losing steam, after powering the search company to mindblowing levels of Revenue and profit Growth for years. ... Find more search results for Citigroup And Revenue Growth on RSSMicro.com |
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Despite large Growth in the high definition market, standard DVD sales continue to sag, and home video Revenue will continue to fall, report a few notable analysts.
According to Reuters, 5 million HD movies have already been sold this year (mainly Blu-ray ) and that puts the pace far ahead then 2007 which saw only 10 million movies sold for the entire year.
This strong Growth however is not enough to make up for the continued sagging sales of standard definition DVDs. In 2006, movie studios generated $25 billion USD in Revenue for home video releases. In 2007 the number fell to $23 billion and Citigroup analyst Jason Bazinet believes that number will fall again this year to $21.4 billion.
Analysts also feel that consumers see less benefit in upgrading to Blu-ray then they did with the switch from VHS to DVD. Many consumers don't even have the necessary equipment to enjoy Blu-ray, including Blu-ray players, HDTVs or surround sound setups. Price of course is another significant barrier with most Blu-ray players costing about $400 USD, about $250 USD more expensive than even the best upscaling standard DVD players.
Sony Electronics CEO Stan Glasgow agreed in March that a price drop was necessary for more market penetration but that the necessary $200 price point wont be available until at least 2009.
I don't think $200 is going to happen this year. Next year $200 could happen, said Glasgo ...
Citi to raise a paltry $3B. Citigroup (C) announced a $3B secondary offering yesterday after the close, sending its shares down 2.8%. Citi arch-nemesis, Oppenheimer analyst Meredith Whitney was unimpressed: She says Citi still needs to raise another $10-15B to fully bolster its books. "The fact that the company raised such a small amount of capital at this time confounds us," she wrote. Sources say the Government of Singapore Investment Corp. may buy a stake in the $3B offering; it already owns 4% of the company. Yesterday's news brings Citi's total fundraising efforts to $36B since its troubles began last year.
Content, content, content. Time Warner (TWX) announced a divestment of its 84% stake in Time Warner Cable (TWC). CEO Jeffrey Bewkes is eager to transform TWX into a pure media-content provider. He is expected to increase TWX's debt levels, and release as much as $5B from the proceeds to shareholders; that would leave another $4.2B for TWX. Time Warner posted Q1 EPS of $0.22, a penny short of consensus, on in-line Revenue of $11.42B (+2%). Earnings at its AOL unit dived 74% as Revenue dropped 23%. Ad Revenue Growth was just 1%. TWC EPS of $0.25 beat the consensus of $0.22. Revenue of $4.2B was in line. Voice Revenue jumped 39% and broadband sales were up 11%. TWC added about 900K subscribers to 33M.
SAP slides on shortfall. SAP (SAP) announced Q1 EPS of €0.29 on Revenue €2.5B. Net income fe ....gif){kind=logo}
Filed under: Analyst reports , Analyst upgrades and downgrades , Apple Inc (AAPL) , Anglo Amer ADR (AAUK) MOST NOTEWORTHY: Apple, AstraZeneca and KLA-Tencor were today's noteworthy upgrades:
Thomas Weisel upgraded Apple (NASDAQ: AAPL ) to Overweight from Market Weight, citing a re-set in FY08 expectations and expected Growth from Mac market share gains, accelerating iPhone Revenue Growth and increased iPhone ASPs.
WestLB upgraded shares of AstraZeneca (NYSE: AZN ) to Add from Hold as they believe the company's Growth in core franchises are being overlooked.
Citigroup upgraded KLA-Tencor (NASDAQ: KLAC ) to Buy from Hold , as they believe several near-term catalysts are likely to develop against an increasingly favorable cyclical backdrop. They think KLAC's near-term business is better than most think and maintain a $56 target on the stock.
OTHER UPGRADES:
Goldman upgraded Anglo American (NASDAQ: AAUK ) to Buy from Neutral and added shares to the Conviction Buy List.
UBS (NYSE: UBS ) was upgraded to Buy from Neutral at Merrill and added to the Europe 1 List.
Jefferies raised comScore (NASDAQ: SCOR ) to Buy from Hold.
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