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MarketWatch 07/15/2019 16:06
U.S. stocks ended slightly higher on Monday as investors saw results from Citigroup kicking off the unofficial start of earnings season for the second-quarter. The S&P 500 was up by less than 0.1% to 3,014, based on preliminary figures, which would mark a fresh record close. The Dow Jones Industrial Average rose 0.1% to end near 27,359. The Nasdaq Composite was up 0.1% to end around 8,258. The Dow and Nasdaq also scored closing records. Shares of Citigroup Inc. were lower by 0.1% even after it reported second-quarter profits rose 4.8%, beating analysts' expectations. Investors also monitored a weak gross domestic product reading in China, with growth falling to its slowest pace since 1992. But investors pointed out the solid industrial prod.
MarketWatch 07/15/2019 08:18
Shares of Citigroup Inc. rallied 0.8% toward a 9-month high in premarket trading Monday, after the bank reported a second-quarter profit and revenue that rose above expectations, although net interest income came up shy. Net income rose to $4.80 billion, or $1.95 a share, from $4.49 billion, or $1.63 a share, in the same period a year ago. Earnings per share from continuing operations was $1.94. The FactSet EPS consensus was $1.81. Total revenue increased 2% to $18.76 billion, above the FactSet consensus of $18.50 billion, while net interest revenue rose 2% to $11.95 billion, or just below expectations of $12.03 billion. Consumer banking revenue grew 3% to $8.51 billion, just shy of the FactSet consensus of $8.58 billion, while institutiona.
MarketWatch 07/12/2019 08:43
Citi Research analyst Peter Christiansen reiterated his buy rating on Square Inc.'s stock on Friday, writing that the payments company is showing "improving momentum" across the business. "We observe that Square is delivering on accelerating the pace of product development," he said, with 32 new products and features so far this year. Christiansen also likes Square's business debit card, which he expects will increase sellers' engagement with the Square platform. "We think the growth narrative improves if debit card spend is disclosed regularly, particularly in light of last quarter's [gross payment volume] deceleration," he wrote. Square shares are up 0.9% in premarket trading Friday, and they've gained 42% so far this year as the S&P 500
MarketWatch 07/08/2019 08:26
Shares of Verizon Communications Inc. were off 0.9% in premarket trading Monday after Citi Research analyst Michael Rollins cut his rating on the stock to neutral from buy. "Simply put, we believe national wireless firms that take more aggressive steps to shape their long-term strategic and competitive position in the industry have a better chance of creating value over the next 12-months," he wrote. Rollins said that while he still likes Verizon's focus on investing in network capabilities, he sees limited opportunity for multiple expansion given uncertainty over wireless industry structure. He has buy ratings on shares of T-Mobile US Inc. and AT&T Inc. , and he raised his price target on AT&T's stock to $37 from $34. Verizon shares have r.
MarketWatch 07/03/2019 09:28
Citigroup initiated coverage of CannTrust Holdings Inc. with a high risk buy rating, citing growing revenue but less clarity on a path to profitability. Analyst Wendy Nicholson said the Canadian company is well-positioned to compete in the cannabis market with state-of-the-art cultivation and growing operations. "We expect CTST's sales to nearly triple in 2019 and nearly double again in 2020, to CAD$228 mm ($174.5 million)," she wrote in a note to clients. "We forecast that CTST can achieve an adjusted EBITDA margin of ~14% in 2020, but concede there are a lot of variables that could affect our margin forecast (including how much marketing support CTST invests in and how its outdoor grow operations perform)." That would put the company on p.
MarketWatch 06/28/2019 08:45
Shares of Live Nation Entertainment Inc. shares are off 2.1% in premarket trading Friday after Citi Research analyst Jason Bazinet downgraded the stock to sell from neutral. "We like Live Nation's growth prospects and consistent operating performance," he wrote. "However, we fear that investors have either become too willing to pay a premium for growth...or investors are making some valuation mistakes to arrive at the prevailing equity value." He argued that Live Nation shares are difficult to value on a multiple of enterprise value to earnings before interest, taxes, depreciation, and amortization (Ebitda) due to a large portion of the company's cash balance that doesn't belong to shareholders, accounting changes that have placed $1.2 bill.

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