Citigroup CEO Jane Fraser testifies during a hearing before the House Financial Services Committee at the Rayburn House office building on Capitol Hill on September 21, 2022 in Washington, DC. Alex Wong | Getty Images Citigroup said it was cutting 10% of its workforce in a bid to help boost the embattled bank’s results and … Read more
Wells Fargo shares fell on Friday even after fourth-quarter profit rose from last year, as the bank warned that net interest income for 2024 could be significantly lower year-on-year. Here’s what the bank reported versus what Wall Street expected, based on a survey of analysts at LSEG, formerly known as Refinitiv: ยท Revenue: $20.48 billion … Read more
Citigroup CEO Jane Fraser attends a hearing on the annual oversight of Wall Street firms before the Senate Banking, Housing and Urban Affairs Committee on December 6, 2023 in Washington, DC, US. Tom Williams | Cq-roll Call, Inc. | Getty Images Citigroup reported fourth-quarter results before Friday’s opening bell. Here’s what the company announced compared … Read more
Bank of America Chairman and CEO Brian Thomas Moynihan speaks during a U.S. Senate Banking, Housing and Urban Affairs Committee hearing on Wall Street firms on Capitol Hill in Washington, U.S., December 6, 2023. Evelyn Hockstein | Reuters American bank reported fourth-quarter results before Friday’s opening bell. Here’s what the company announced compared to what … Read more
Jane Fraser CEO, Citi, speaks at the Milken Institute 2023 Global Conference in Beverly Hills, California, on May 1, 2023. Mike Blake | Reuters Citigroup warned investors late Wednesday that the charges associated with the drop in the Argentine peso as well as the bank’s reorganization were much higher than the company’s chief financial officer … Read more
CNBC’s Investing Club with Jim Cramer hosts a live “Morning Session” every weekday at 10:20 a.m. ET. Here’s a recap of Tuesday’s key moments. 1. US stocks were mixed on Tuesday, renewing some of the early 2024 pressure we saw on Wall Street last week. The Nasdaq turned positive on Tuesday as Nvidia hit another … Read more