Day Ahead: Surprise Citi

 | Apr 14, 2014 | 8:30 AM EDT  | Comments
  • Comment
  • Print Print
  • Print
Stock quotes in this article:

c

,

mtb

An upbeat quarterly report from one of the big money centers gave U.S. futures a lift Monday morning, even as global markets continued to struggle.

This morning European stocks failed to stanch a two-day downturn, pressured by continued tension between Russia and Ukraine. Asian markets finished mostly lower, though the Hang Seng and Shanghai indices did book modest gains.

Meanwhile, back in the U.S., Citigroup (C) shares jumped 2% in premarket trading after reporting adjusted earnings per share of $1.30 in the first quarter, compared with analyst estimates of $1.14, on better-than-expected revenue. Separately, the bank is reportedly cutting as many as 300 jobs in its global markets unit, according to The Wall Street Journal.

Also reporting before the bell, M&T Bank (MTB) beat quarterly EPS estimates by a nickel. After the close, Wall Street expects auto-parts supplier Pep Boys (PBY) to earn $0.05 per share on sales of $534 million.

March retail sales beat consensus estimates by a single basis point at 1.1%, and rose 0.07% stripping out auto sales. Look for February's business inventories at 10 a.m. ET.

Columnist Conversations

Ugly end to a challenging week as stocks post around three percent declines for the opening month of 2015. Oil...
I have scaled further into a TLT short - scaling all the way up to $138.35 this morning. And I have scaled int...
Market slightly down despite the boost Amazon (AMZN) is giving the NASDAQ. Biotech also continues to be a stro...
There are a number of interesting technical signals on the weekly and daily Berkshire Hathaway (BRK/B) charts....

BEST IDEAS

REAL MONEY'S BEST IDEAS

Columnist Tweets

BROKERAGE PARTNERS

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.


TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.