Citigroup's Trading Revenue Earnings Better Than Expected is Good News For Bank Stocks
It seems a bit odd that good news from a big bank to the banking sector would come on the day it announced that it signed an agreement for $7 billion to settle an investigation of mortgage securities sales by the government, and that helped sustain the latest financial crisis. But the release of second quarter earnings from Citigroup C+3.13% is a good sign for big banks that have been embattled in recent months.
After adjusting for the high cost of Citigroup and the Federal Government's large-scale mortgage settlement, its earnings for the second quarter surpassed expectations. Although analysts expected earnings of $1.05 per share, Citigroup reported actual earnings of $1.24 a share, or $3.93 billion.
On Monday, GoDaddy Hosting filed the necessary paperwork with the U.S authorities for an IPO to raise around 100 million dollars by selling Class A common shares.
The IPO's lead underwriters include JPMorgan, Morgan Stanley and Citigroup, according to a preliminary prospectus submitted to the U.S SEC.
However, the filing did not include details of the expected share price or the number of shares the company plans to sell.
GoDaddy Inc. joins Twitter Inc. and other tech companies that have had successful IPO's in the last one year.
Seal of the Export-Import Bank of the United States. (Photo credit: Wikipedia)
In Washington, nobody can seem to come to any agreements. But given the numerous social and economic problems and issues we face as a nation, our government should not be forwarding to wealthy politically connected corporations, our limited public resources. And this is precisely what is done by the Export Import Bank.
Some in favor say the Ex-Im Bank protects jobs, promotes U.S. exports and for the taxpayers is a positive deal. These arguments don't stand up under scrutiny.
Google Street View - Pan-American Trek - Downtown Banff (Photo credit: kevin dooley)
Investing in Google today is an interesting part of what stock investing may look like in future decades. Trading is excepted to change noticeably in the next 25 years, and the practice will appear quite different even within the next decade. The middle class of the future is expected to have access to personal stocking trading advisement from professional brokerage consultants. One of these advisers just might be in the form of a digital avatar designed to give highly personalized trading advice.
Recently GoDaddy hosting has filed for IPO. The hosting provider said that they plan on using some of the money from the IPO to pay some of its debt off, as well as use it for corporate purposes.
GoDaddy filed its regulatory filing, and when they did that they indicated that things such as the number of shares they will offer has not been determined. However, the company did mentioned that they will try to raise some money, up to $100 million. They did say that this is just the placeholder amount, and that the amount could end up change.
The company, based in Arizona, provides products and services such as domain registration, as well as web hosting plans. The company has also listed Citigroup and J.P. Morgan as underwriters for their offering.
For the last 8 years, the rate of unemployment has kept on rising. On the other hand, the growth of industries in technology, energy and healthcare show an upward trend thus energizing the deteriorating economy. Amazingly, some sectors like manufacturing, which were reliable before are now perishing and taking with them whole cities.
During the few final years of Bush Administration and early Obama Administration people who depended on wages as their only source of revenue really suffered. On the other hand, a good portion of Americans who use alternative methods of revenue generation such as investing made more money. In fact, corporate payoffs rose to about 150 per cent as compared to 2007 figures. Many people fear to invest since they think investing requires a complex procedure.