Saudi Arabia has shut down half of its oil production after drones attacked the world's largest oil processing facility in the kingdom.Marketsread more
Yemen's Houthi rebels have claimed responsibility for the attacks, which created a huge fire at a processor essential to global energy supplies.Politicsread more
Oil prices are expected to jump as much as $10 per barrel after a coordinated drone strike hit Saudi Arabia's largest oil field, forcing the kingdom to cut its oil output in...Marketsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
Trailers have become a cult phenomenon. Even short teasers that reveal little about the plot of the upcoming film are headline-worthy. Blogs and forums have become devoted...Entertainmentread more
Thanks to the performance of Beyond Meat, investors who focus on venture-backed tech IPOs have done well this year despite some notable disappointments.Technologyread more
Software company Intuit, maker of tax helper TurboTax, is in its eleventh year of stock gains and up 36% this year.Investingread more
CNBC did a deep dive through the most recent Wall Street research to find stocks with upside potential.Marketsread more
Citigroup announced third-quarter earnings and revenue Friday morning that topped Wall Street expectations.
The bank said it saw adjusted earnings per share of $1.24 on $17.76 billion in revenue for the quarter. Wall Street analysts had expected Citi to report earnings of about $1.16 a share on revenue of $17.36 billion, according to a consensus estimate from Thomson Reuters.
Those results represent a decline on both the top and bottom lines compared to adjusted earnings of $1.31 per share on about $18.5 billion in adjusted revenue for the third quarter of 2015.
"I am very encouraged by the underlying momentum across our franchise, notably in several areas where we have been investing," Citi CEO Michael Corbat said in a release. "In the quarter, both our Global Consumer Bank and Institutional Clients Group had solid year-over-year revenue increases in nearly every business line and geography. We also continued to grow core loans and deposits while reducing non-core assets to just 3% of our balance sheet."
Citi's fixed income markets performance was particularly notable in the quarter, jumping 35 percent year-over-year.
Citi's stock has risen more than 9 percent over the last six months, but it remains down about 6 percent year-to-date after a rough start to 2016.
In general, investors are looking at Friday's spate of bank earnings announcements to offer some indication of the strength of the U.S. economy. One key area being watched is loan growth, which can indicated the health of businesses and consumers.
Over the last three months, banks have been one of the top performing sectors, but the firms have struggled the whole year with moderate economic growth, lowered expectations for a U.S. Federal Reserve interest rate hike and one of the worst starts to a year for the U.S. stock market.
This is breaking news. Please check back for updates.
—CNBC's Evelyn Cheng contributed to this report.