Citigroup Receives Request from Regulators and 2 Heavily Traded Shares Moving Today
Annaly Capital Management, Inc. (NYSE:NLY reported that its earnings for Q3 of the current year missed consensus mean estimates by 4 percent. Additionally, the company reported earnings per share of $0.45 compared to the $0.47 per share that 21 analysts covering the stock expected. Earnings saw a drop in net interest margin, down to half of what the company earned last year. QE3 is blamed for this significant decline.
Catalysts are critical to discovering winning stocks. Check out our newest CHEAT SHEET stock picks now.
Micron Technology, Inc. (NASDAQ:MU): Market share has been increasing for memory makers with higher mobile DRAM ratios, such as Samsung and Elpida. The DRAM industry’s improving core competitiveness lies in proper product adjustment, which is the key to profitability in the current market conditions. Elpida came in third with 13.5 percent of the market, and its revenue saw a 4.3 percent drop quarter over quarter. Elpida’s market share saw an increase as a result of a greater percentage of mobile DRAM output. Micron is closely following Elpida, and Micron’s market share was a only 1.1 percent lower than Elpida’s. Micron also saw a revenue drop of 9 percent quarter over quarter. Micron saw much more of an impact as a result of the commodity DRAM price decline, and the maker’s DRAM operating margin saw a decrease of about 5 percent, which suggests the supplier’s necessity to raise mobile and server DRAM production ratios as a way to avoid sustaining heavy losses because of price fluctuations.
Citigroup Inc. (NYSE:C) has gotten requests for information from the Monetary Authority of Singapore concerning probes into the the rigging of benchmarks that are used to set interbank loan rates. “Certain Citigroup subsidiaries have received additional requests for information and documents from various domestic and overseas regulators and enforcement agencies, including the Monetary Authority of Singapore,” the New York-based company stated in a regulatory filing released today.