Citigroup’s Soft Quarter, Molycorp Tanks on New Offering, and 3 More Hot Stocks
Citigroup Inc. (NYSE:C): Citi has reported EPS of $1.02, missing estimates by $0.01, while revenue of $18.2 billion also fell shy by $0.82 billion. As expected, revenues were dented by slowing trends in the mortgage and trading operations as global consumer banking revenues fell 7 percent over last year to $9.2 billion. A 12 percent decline in North America alone led the plunge. Securities and banking revenues fell 2 percent to $4.7 billion and suffered, as indicated by the company a month or so ago, by a substantial 26 percent crater in fixed income revenue.