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The Fed indicated to Citi that it would get more time to fix certain "stress test" planning problems before rejecting its capital plan.
Goldman Sachs reported quarterly earnings and revenue that topped analysts' expectations on Thursday.
April 17- Goldman Sachs Group Inc reported an 11 percent drop in first-quarter profit on Thursday as client activity remained constrained and fixed-income revenue shrank. The Wall Street bank said its net income fell to $1.95 billion, or $4.02 per share, in the first three months of the year from $2.19 billion, or $4.29 per share, in the same period of 2013..
NEW YORK— Goldman Sachs' earnings fell in the first quarter as bond trading slumped, but the results still came in ahead of what investors expected as other parts of the bank performed well. EARNINGS AND REVENUE: The bank earned $1.95 billion in the quarter, down 11 percent from $2.19 billion in the same period a year earlier.
NEW YORK— Investment bank Morgan Stanley said Thursday that its first-quarter income rose 18 percent from a year ago, helped by higher earnings in its trading and merger and acquisitions advisory businesses. THE RESULTS: Morgan Stanley earned $1.39 billion, up from $1.18 billion in the same period a year ago.
Citigroup will not webcast its annual meeting next week in St. Louis, in a move one analyst called "ridiculous."
April 17- The Federal Reserve indicated to Citigroup Inc that the bank would get more time to fix certain "stress test" planning problems before rejecting its capital plan last month, the Wall Street Journal reported, citing people close to the company.
NEW YORK, April 16- Citigroup Inc, which aspires "to become the world's digital bank", will not webcast its annual meeting next week in St. Louis. Of the top six U.S. banks, only Citigroup and Wells Fargo& Co do not allow investors to listen to live audio from their annual meetings.
Bank of America Corp. fell$. 26 or 1.6 percent, to $16.13. Citigroup Inc. fell$. 13 or. 3 percent, to $48.18. Goldman Sachs rose $2.30 or 1.5 percent, to $157.22.
BofA Merrill Lynch, Citigroup and RBC Capital Markets are the underwriters to the IPO, the San Francisco- based company told the U.S. Securities and Exchange Commission in a preliminary prospectus. Zoosk is backed by venture capital firms including Canaan VIII LP, ATA Ventures and Bessemer Venture Partners.
*Yahoo rallies after results; BofA falls. NEW YORK, April 16- U.S. stocks rose 1 percent on Wednesday, advancing for a third straight session as Federal Reserve Chair Janet Yellen reaffirmed the central bank's commitment to keeping interest rates low and Yahoo rallied.
NEW YORK— Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market:. King Digital Entertainment Plc, up 60 cents to $18.03. Yelp Inc., up $2.74 to $65.80.
*Wheat posts biggest decline in two weeks. *Corn falls on forecasts for improved U.S. planting weather. Wheat led the way, giving up nearly 2 percent on expectations for a turn to better crop weather in the U.S.
Bank of America Corp. fell$. 40 or 2.4 percent, to $16.00. Citigroup Inc. fell$. 57 or 1.2 percent, to $47.74. Goldman Sachs rose $1.33 or. 9 percent, to $156.25.
NEW YORK— A look at New York Stock Exchange 10 most-active stocks at the close of trading:. AT&T Inc. rose 1.2 percent to $36.10 with 23,832,000 shares traded. Alcoa Inc. rose 2.8 percent to $13.42 with 36,770,000 shares traded.
*China's growth slows, but exceeds median forecast. NEW YORK, April 16- U.S. stocks rose for a third straight session on Wednesday after data showed China's economic growth exceeded expectations and U.S. industrial production rose for a second straight month.
*Corn dips on forecasts for improved U.S. planting weather. "It has been an exciting week thus far for soybeans, and for the old-crop new-crop spreads in particular," Matt Zeller, director of market information at INTL FCStone said in a note to clients.
LONDON, April 16- "What's your interest in Bill and Ben in the pick?" A basic translation of that particular line of Cockney rhyming slang, originating in London's working class East End, would run something like: "Are you a buyer or a seller of dollar/yen at the daily benchmark rate-setting fix?
April 16- Bank of America Corp reported an unexpected first-quarter loss on Wednesday after it took a $6 billion charge to cover litigation expenses, a figure that far exceeded the legal settlements the No. 2 U.S. bank has announced recently.
Bank of America Corp. fell$. 46 or 2.8 percent, to $15.94. Citigroup Inc. fell$. 66 or 1.4 percent, to $47.65. Goldman Sachs rose$. 67 or. 4 percent, to $155.59.