Latest news with #VisRaghavan
Yahoo
2 days ago
- Business
- Yahoo
Citi raid on JPMorgan investment bankers reaches double digits
Citigroup's banking chief Vis Raghavan has accelerated a hiring spree of former JPMorgan Chase colleagues, with at least 10 senior Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
2 days ago
- Business
- Business Insider
Dayforce said in talks to be acquired, Soho House to go private: Morning Buzz
The major indexes were trending lower near noon as investors lean into a busy week headlined by Jackson Hole central bank speeches and earnings from major retailers. Geopolitical developments are adding weight as markets are monitoring the potential implications of President Trump's meeting with Ukraine's president and European leaders as Washington seeks support for a Ukraine–Russia peace initiative. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Looking to commodities, gold was little changed, while oil prices were marginally higher. Get caught up quickly on the top news and calls moving stocks with these five Top Five lists, and subscribe to the Fly By if you want to know how the markets will open, which stocks will be moving and why. 2. WALL STREET CALLS: CVS Health (CVS) upgraded to Buy from Neutral at UBS Wells Fargo double upgraded Cogent (CCOI) on revenue inflection point Occidental (OXY) downgraded at Morgan Stanley, here's why Nano Nuclear Energy (NNE) double downgraded to Sell at Ladenburg after Q3 update BofA sees Redwire (RDW) as less attractive than space peers, starts at Underperform 3. AROUND THE WEB: Spruce Point says it is short iRhythm Technologies (IRTC), believing that risks related to an ongoing DOJ investigation into product deficiencies that jeopardize lives are underappreciated British motorists can lease a Tesla (TSLA) EV for about half the cost it was a year ago, as the company attempts to boost its faltering sales in the U.K., The Times reports Citigroup's (C) Vis Raghavan, Head of Banking, has accelerated a hiring spree of former JPMorgan Chase (JPM) colleagues, FT reports Foxconn (HNHPF) plans to manufacture data center equipment with Softbank (SFTBY) at the company's former EV factory in Ohio, Reuters reports Six Flags (FUN) has had a 'nightmare' of a summer following its merger with Cedar Fun due to severe thunderstorms and excessive heat, new rides being delayed, competition from new rivals, quality issues and economic uncertainty, WSJ says 4. MOVERS: TeraWulf (WULF) gains after announcing Fluidstack exercised its option to expand at the company's Lake Mariner data center campus in Western New York Yext (YEXT) higher after CEO Michael Walrath submitted a proposal to acquire all outstanding shares of the company for $9 per share in cash Sunrun (RUN) increases after RBC Capital upgraded the stock to Outperform Bitmine Immersion (BMNR) lower after announcing its crypto holdings exceeded $6.612B Critical Metals (CRML) falls in New York after publishing assay results from its Tanbreez Project in Greenland 5. EARNINGS/GUIDANCE: INDEXES: Near midday, the Dow was down 0.03%, or 14.98, to 44,931.14, the Nasdaq was down 0.18%, or 38.91, to 21,584.06, and the S&P 500 was down 0.10%, or 6.73, to 6,443.07.
Yahoo
14-06-2025
- Business
- Yahoo
Citigroup (C) Raises Loan Loss Provisions
Citigroup Inc. (NYSE:C) is one of the best Goldman Sachs bank stocks. Citigroup is setting aside more money to prepare for the possibility that some customers may have trouble repaying their loans. Speaking at a Morgan Stanley conference, Citi's Head of Banking, Vis Raghavan, said credit costs will likely rise by a few hundred million dollars this quarter, more than analysts had expected. The move highlights Citi's dynamic provisioning strategy and its balance sheet discipline. While delinquencies have edged higher across the industry, particularly in auto finance, Citi's exposure remains relatively low, driven by a retail base with robust credit profiles. Raghavan reaffirmed confidence in the firm's overall credit quality, highlighting that currently padded reserves are precautionary. / This risk-aware stance comes in the wake of high interest rates and inflation continuing to strain some consumer segments. Citi joins peers in reinforcing credit buffers while maintaining a cautiously optimistic view on the broader health of the US consumer. CEO Jane Fraser previously mentioned that credit losses, though increasing, remain within manageable thresholds consistent with a slowly normalizing credit cycle. Citigroup Inc. (NYSE:C) is a global financial services firm that provides banking, investment, and wealth management solutions to individuals, businesses, and governments around the world. While we acknowledge the potential of C as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure. None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
10-06-2025
- Business
- Reuters
Citi expects banking fees, trading revenue to climb despite US tariff "anxiety"
NEW YORK, June 10 (Reuters) - Citigroup's (C.N), opens new tab head of banking Vis Raghavan said on Tuesday that performance in its banking and trading divisions will improve this quarter despite "anxiety" over U.S. tariffs. Banking fees will increase by a mid-single digit percentage in the second quarter versus the previous year, while markets revenue will rise by a mid-to-high single digit percentage, he told investors at a conference. Dealmaking has stalled this year as President Donald Trump's tariff and fiscal policies roiled markets, fueling economic uncertainty. Still, bank executives have expressed optimism about a resurgence. Citi's clients consider 10% tariffs as a "floor" and are analyzing to absorb the cost of 10% to 20% tariffs on imports, Raghavan said. The lack of clarity over the final tariff outcome "froze" markets in April, but transaction volumes have improved since then as the stock market bounced back. "M&A continues to be super active -- there's a lot of dialog, a lot of engagement," he said. "The debt market will be more a function of how the M&A market manifests itself, through acquisition financing." Citigroup advised Mars on its $35.9 billion acquisition of Kellanova. The bank also advised Charter Communications in its $21.9 billion merger with Cox Communications. Some IPOs have returned as stocks rose, particularly for tech or digital asset firms companies that are less affected by tariffs, he said. "We had some recent deals that have done really well, but generally the IPO market is kind of bit stagnant to the extent that there is a manufacturing or a supply chain aspect to it." Raghavan, who joined from JPMorgan Chase a year ago, has steered growth in Citi's banking division. Its revenue rose 12% in the first quarter to $2 billion versus a year earlier. The executive's compensation was $49.1 million in his first year, including a $39 million stock award for equity that he had forfeited from a previous employer which will be paid out over time, according to a filing. Raghavan worked at JPMorgan for more than two decades. Citi CEO Jane Fraser hired Raghavan and Andy Sieg, who leads its wealth division, to drive growth as she carried out a sweeping turnaround. The revamp is aimed at boosting profits and efficiency while meeting regulators' orders to fix widespread problems in risk management and controls.
Bloomberg
10-06-2025
- Business
- Bloomberg
Citi to Set Aside More Money for Losses on Loans, Credit Cards
Citigroup Inc. is set to put aside hundreds of millions of dollars more than it did last quarter to account for potential losses on loans and credit cards it issues to its clients, a sign of likely worsening consumer health that runs counter to analysts' expectations. 'Given the macro environment, etc., cost of credit compared to last quarter, we expect to be up a few hundred million,' Vis Raghavan, Citigroup's head of banking, said Tuesday at a conference hosted by Morgan Stanley.
