Today’s Research Reports on Trending Tickers: Citigroup and Bank of America
Major U.S. markets closed down on Thursday, with the Dow Jones posting its 8th consecutive daily decline, as investors’ attention remained fixed on trade tension between the U.S. and its key trading partners. The S&P 500 Index shed 0.63 percent to close at 2,749.76, while the Nasdaq Composite dropped 0.88 percent to close at 7,712.95. The Dow Jones Industrial Average declined 0.80 percent to close at 24,461.70.
According to Jeff Donlon, managing director of the global strategies group at Manning & Napier, “We think the trade issue is going to continue to escalate, and that it could last for several quarters, if not years. Growth expectations should be reset currently, and the longer this drags on, the more risk will grow and the more the issue should be factored into expectations.”
RDI Initiates Coverage on:
Bank of America Corporation
Citigroup’s stock moved 0.37% higher Thursday, to close the day at $67.63. The stock recorded a trading volume of 16,544,560 shares, which was below its three months average volume of 17,319,601 shares. In the last year, Citigroup’s shares have traded in a range of 63.16 – 80.70. The share price has gained 7.08% from its 52 week low. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $68.89 is below its 200-day moving average of $72.67. Shares of Citigroup have fallen roughly 3.98 percent in the past month and are down 9.11 percent year-to-date.
Access RDI’s Citigroup Inc. Research Report at:
On Thursday, shares of Bank of America recorded a trading volume of 68,297,948 shares, which was above the three months average volume of 68,040,317 shares. The stock ended the day 0.17% higher at $29.29. The share price has fallen 11.38% from its 52 week high with a 52 week trading range of 22.73 – 33.05. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $29.97 is below its 200-day moving average of $30.52. Shares of the company are trading at a Price to Earnings ratio of 16.99. Shares of Bank of America have fallen roughly 4.12 percent in the past month and are down 0.78 percent year-to-date.
Access RDI’s Bank of America Corporation Research Report at:
Our Actionable Research on Citigroup Inc. (NYSE:C) and Bank of America Corporation (NYSE:BAC) can be downloaded free of charge at Research Driven Investing.
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