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…
Category: News
Next Child Care Benefit payment will land in bank accounts this week
The next payment for the Canada Child Benefit is set to land in bank accounts this Friday, according to the Canada Revenue Agency
Oilers breathing easier after snapping skid with 4-3 OT win over Flyers
The big guns finally came through to blast the Edmonton Oilers out of their season-starting slump.
Goaltender Wolf having a howl of a time for Flames
Make it two straight superb starts to begin the season for Dustin Wolf.
Chiefs gather to vote on landmark $47.8B child welfare reform agreement with Canada
First Nations chiefs are gathering in Calgary today as they prepare to vote on a landmark $47.8-billion child welfare reform agreement with Ottawa.
Chatham-Kent mayor stands behind community hub project
Criticism has swirled around a proposed community hub for downtown Chatham with claims of huge cost overruns that will send taxes soaring. The project comes up for discussion at Monday’s Chatham-Kent council meeting and Mayor Darrin Canniff said he wants to address misinformation he’s been hearing in the community. Council will have to decide whether […]
Ochai Agbaji stands tall defensively for Raptors
Ochai Agbaji’s relatively small stature won’t stop him from defending some of the biggest and best forwards in the NBA.
Nearly $1M raised: Maxine DeHart drive-thru breakfast returns Thursday
You might want to skip homemade breakfast on Thursday morning.Instead, you could stop by Kelowna’s Ramada Hotel & Conference Centre for the Maxine DeHart United Way BC Drive-Thru Breakfast.In exchange for a donation, guests will receive a breakfast bag full of treats and goodies, coupons…
Kelowna ultra endurance athlete Nick Pelletier pushes limits in Moab Desert run
Kelowna-based ultra endurance athlete Nick Pelletier pushed his body to the limit this weekend in Moab, Utah, competing in a 240-mile desert run.From Oct. 11 to 16, ultra athletes from across the globe descended into the desert to traverse canyons, slick rock, and two mountain ranges.Pelleti…
Woman target of a parking scam in Kelowna offers warning
An Okanagan woman is warning residents about how she fell prey to a scam while using a parking machine in Kelowna, in hopes others can avoid being a target.“It was by the (Rotary Arts Centre) and I scanned a QR code sticker on the parking metre, and it directed me to a website so it looked…