BELFOR CANADA ANNOUNCES THE MERGER OF TWO MONTREAL LOCATIONS

TORONTO, ON, OCTOBER 16, 2024/insPRESS/ – BELFOR Property Restoration, is pleased to announce the merger of BELFOR Montreal and Danar Renovations. BELFOR acquired Danar in 2016 with the intention of fully branding under the BELFOR name. This merger makes BELFOR…The post BELFOR CANADA ANNOUNCES THE MERGER OF TWO MONTREAL LOCATIONS appeared first on Canadian Underwriter.

Citigroup Stock Tanked, Oil Dropped, and More

Markets did not respond well to Citigroup’s (C) quarterly earnings report. The stock lost 5.1% after posting revenue growth and earnings beating estimates.Citi posted Q3 GAAP EPS of $1.51. Revenue grew by 0.9% Y/Y to $20.32 billion. Investors did not like Citi’s cost of credit growth. It increased by $2.7 billion in Q3, compared to $1.8 billion last year. Higher net credit losses and a rise in allowance for credit losses (“ACL”) worried markets.Citi trades at a modest premium compared to the sector. Its P/E is 11.5 times, compared to the sector median of 12.3 times. Value investors may…