U.S. Day Ahead: CEO Corbat may make Citi meaner & leaner
Wednesday, January 16, 2013 - 02:54
Jan. 16 - New Citi boss Michael Corbat could focus on more cost cutting when the bank reports results in the morning.
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Lloyd Blankfein and Jamie Dimon has had their say yeah get ready for the new kid on the block Michael for a back. Will he impressed when Citi reports. Its court -- first earnings since taking over as CEO from -- from hand at last year. On paper it looks like he will see its profits growth from a year ago thanks to higher fees and cost cutting. Don't forget to me that it would slash 111000 jobs in December investors wanted to know whether the court that will keep trimming the fat. First he can he cut costs people at least speed up the ones he announced in the last few. Secondly can you sell Citi holdings of multi assets -- quickly and if he does that. Things go up things go up and take advantage of the tax breaks are fifty billion dollars -- sit in the front seat and takes place this -- shelves. Markets like when they see so far Citi shares up 50% since the start to last year. Cost getting will also be NBC when Bank of America are reports results as likely be higher profits from last quarter but down from last year. That's about five billion dollar hit it took after -- bad loan charges and a mortgage lawsuit. Pay attention to what boss -- went hand says about its mortgage servicing unit last quarter he -- expenses there had to heat and should start falling. Also investors wanna see of DNA has managed to tap into your recent mortgage down the bank's shares have doubled since the start of last year. It was the fifth best performing stock. -- and 2012. -- expect a lot of frowned at Morgan Stanley over Haiti. Reuters has learned that the Wall Street titan is deferring 2012 bonuses over three years are all employees. Put me over 350000. Dollars it's meant to ensure traders don't get rewarded for making risky bets that could result and long term -- Keep in mind Morgan Stanley reports Friday it is sad to see its bottom line grow from last year. Well see how good Intel is -- damage control when it reports results. Its earnings are likely to shrink from the last quarter and from a year ago as he -- sales -- Thanks in popularity of tablets watch out for any comments on windows eight and ultra book sales. Intel has been banking on them to re gain incoming and market share. We'll follow us on Twitter at Reuters Insider and catch our interview that top market movers on British TV. Is -- two for one on Thursday it from a short stellar gem chain has tells impact players Robert -- And lay bets on Hewlett-Packard and China and his outlook for 2013. And then at 11:45 eastern IMF chief Christine Lagarde sits down with our consumer news editor Christopher -- You know that's big European debt crisis that will be light on Reuters dot com. I'm -- mom this is breeders'.
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