JHVEPhoto Seagate Technology (NASDAQ:STX) and Western Digital (NASDAQ:WDC) were in focus on Friday as Citi reiterated its Buy ratings on the storage makers and added a 90-day catalyst watch to Western Digital. Shares of both companies were little changed in premarket trading. After several quarters of the storage market dealingContinue Reading
Chris Hondros/Getty Images News Citigroup (NYSE:C) was ordered to pay $135.6M to two U.S. regulators for failing to make sufficient progress in remediating problems with data quality management, the Federal Reserve Board and the Office of the Comptroller of the Currency said on Wednesday. The bank was fined for violatingContinue Reading
Dmitry Vinogradov Glaukos Corporation (NYSE:GKOS) traded lower on Wednesday after Citi downgraded the glaucoma product maker to neutral from buy as part of a review of its U.S. MedTech coverage ahead of Q2 2024 results. Analyst Joanne Wuensch argued that Glaukos (GKOS), which has climbed more than 50% this year,Continue Reading
BlackJack3D Stocks with high exposure to artificial intelligence have a “lofty, but not bubble-like” backdrop, and Citi analysts are estimating that the markets are pricing around 19-27% growth over the next five years. But almost 60% of the market cap of the AI stocks group has market-implied growth rates thatContinue Reading
Andree_Nery/iStock via Getty Images Shoals Technologies (NASDAQ:SHLS) -2.9% in Tuesday’s trading after Citigroup double downgrades the solar energy equipment supplier to Sell from Buy with a $5 price target, ahead of an initial determination of its patent infringement case against Voltage. Shoals’ (SHLS) infringement case has an initial determination slatedContinue Reading
Exchange-traded funds had a strong June, according to Citi Research, as the space was able to pull in net new money on the month. The brokerage compiled the following statistics for the month of June: cross asset funds attracted $75.7B, domestic equity funds amassed a total of $41.2B, global/international equityContinue Reading
ArtistGNDphotography/E+ via Getty Images Citi downgraded home builders Lennar (NYSE:LEN) and D.R. Horton (NYSE:DHI) to Neutral from Buy on softening housing activity this summer. The analysts trimmed both LEN’s and DHI’s estimated EPS for FY24. For both LEN and DHI, Citi said it sees limited near-term catalysts for the stockContinue Reading
BlackJack3D Citi Research analysts highlighted names that have improving EPS revisions but limited multiple expansion. According to a Thematic Equity Strategy report, companies with high exposure to AI have driven about half of the MSCI ACWI (NASDAQ:ACWI) year-to-date return. Those companies are up about 36% in average. However, some AIContinue Reading
AndreyPopov/iStock via Getty Images Xerox (NASDAQ:XRX) has attempted to reinvent themselves this year through a major restructuring effort, but its stock still received a Sell rating from Citi as the bank initiated coverage. Citi also set a price target of $11 for the printing company. “The company is undergoing majorContinue Reading
SlavkoSereda/iStock via Getty Images Crude oil futures climbed more than 1% Thursday as rising worries over geopolitical risk and expectations of tightness in Q3 outweighed a surprise increase in U.S. crude and gasoline inventories. Cross-border tensions between Israel and Hezbollah in Lebanon have been escalating, fanning fears of a wideningContinue Reading
