Citigroup stock bounces into positive territory, ahead of earnings

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Shares of Citigroup Inc. edged up 0.1% in seesaw morning trading Monday, a day before the bank is scheduled to report second-quarter results. Citigroup has beat earnings expectations the past 18-straight quarters, but the stock has declined the day those beats were reported 11 times. The bank beat second-quarter total revenue expectations, but missed the previous four quarters, as global consumer banking revenue missed the previous five quarters while institutional clients group revenue beat the past 2 quarters, and 3 times in the past 5 quarters. The average estimates of the analysts surveyed by FactSet are earnings per share of $1.95, total revenue of $18.54 billion, global consumer banking revenue of $8.70 billion and institutional clients group revenue of $9.43 billion. Citi’s stock, which was down as much as 0.8% earlier, has slipped 2.2% over the past three months, while the SPDR Financial Select Sector ETF has slipped 2.2% and the Dow Jones Industrial Average has eased 1.8%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.