During Wednesday’s trade, Shares of Citigroup Inc (NYSE:C), lost – 6.94% to $16.35.
Citi has launched two new indices to its family of market capitalization-weighted benchmarks, and one new index to its family of alternatively-weighted benchmarks.
The two market capitalization-weighted indices, the Citi Emerging Markets Broad Bond Index (EMUSDBBI) and the Citi Emerging Markets Corporate Capped Extended Broad Bond Index (EMUSDBBI Corp Capped Extended), expand Citi’s index coverage of emerging markets, and complement Citi’s existing local currency government and corporate bond indices by measuring the performance of investment grade and high yield U.S. dollar denominated debt domiciled in emerging markets. More specifically, the EMUSDBBI offers broad coverage of governments and corporations from over 60 markets, while the EMUSDBBI Corp Capped Extended focuses on corporate debt in over 45 markets and imposes a maximum par amount with respect to any single issuer.
Driving innovation outside the traditional market capitalization-weighted benchmarking space, Citi has also introduced the Citi Time-Weighted U.S. Fallen Angel Bond Index. The index is designed to measure the performance of corporate “fallen angels,” high yield bonds that were formerly rated investment grade. Unlike traditional market capitalization-weighted indices, constituents’ weights are based on their time from inclusion in the index. This time-based weighting approach aims to capture the price rebound effect that fallen angels tend to experience soon after their initial downgrade to high yield. An additional capping mechanism is in place to assist manage concentration risk.
Citigroup Inc., a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions worldwide. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.
JPMorgan Chase & Co. (NYSE:JPM)’s shares declined -1.49% to $62.78.
JPMorgan Chase & Co. will post its fourth-quarter and full-year 2015 financial results at about 6:45 a.m. EST on January 14, 2016 on the Firm’s Investor Relations website at jpmorganchase.com/latest-earnings.
JPMorgan Chase will notify investors that earnings results have been issued through its social media outlet @JPMorgan and @Chase on Twitter, and by a press release over Business Wire that will provide the link to the Firm’s Investor Relations website. Additionally, subscribers who have signed up to receive news directly through JPMorgan Chase’s Investor Relations website will continue to receive a notification of the results.
JPMorgan Chase will not issue a press release over a wire service containing its full quarterly earnings results this quarter. In addition to being available on the Firm’s Investor Relations website, the earnings results will also be filed with the Securities and Exchange Commission (“SEC”) on a Form 8-K, which will be available on the SEC website at http://www.sec.gov.
JPMorgan Chase & Co. is a financial services firm. The company operates through four segments: Consumer and Community Banking, Corporate and Investment Bank, Commercial Banking, and Asset Administration.
Wells Fargo & Co (NYSE:WFC)‘s shares dipped – 1.23% to $52.24.
Wells Fargo & Company (WFC) has committed $2 million over the next four years to Scholarship America to develop and implement the Wells Fargo Veterans Scholarship Program and the Wells Fargo Veterans Emergency Grant Program. The needs-based scholarships and grants will assist veterans and spouses of disabled veterans obtain education or training necessary to successfully integrate back into civilian life.
“American veterans are important to the strength of our country and our company, which is why we want to make sure they are able to contribute their talents to our workforce,” said Jerry Quinn, Wells Fargo Military & Veteran Program Manager. “Our work with Scholarship America will assist fill some of the financial gaps our veterans and their families face with scholarships and emergency aid that will assist set them on a course to success.”
“Wells Fargo’s generous commitment of scholarships and emergency aid for veterans is a powerful combination that will assist many veterans and families by making the path to civilian life more attainable and affordable,” said Bob Ballard, president & CEO, Scholarship America. “Wells Fargo is modeling the way.”
Wells Fargo & Company provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. Its Community Banking segment offers checking, savings, market rate, individual retirement, and health savings accounts, in addition to time deposits and remittances; and lines of credit, auto floor plan lines, equity lines and loans, equipment and transportation loans, education and residential mortgage loans, and debit and credit cards.