Citigroup Inc. (NYSE:C) Traded Up On Latest News – (C, HBC, BAC, JPM, SNE)
Citigroup Inc. (NYSE:C) gapped up and traded in positive territory after it has finalized the sale of EMI Music Publishing to an investor group including Sony Corporation (NYSE:SNE) of America, the Estate of Michael Jackson, Mubadala Development Company PJSC, Jynwel Capital Limited, the Blackstone Group’s GSO Capital Partners LP, and David Geffen, in a deal valued at $2.2 billion.
Earlier, Citi had signed a definitive deal with Vivendi and Universal Music Group for the acquisition of EMI’s recorded music division. This deal is currently awaiting regulatory approvals.
The bank on Friday also issued $750 million of securities in its first sale following a two-step ratings cut from Moody’s Investors Service. The lender has sold bonds worth $750 million payable on January 2022 at 250 basis points more compared with similar-maturity Treasuries in an add-on offering to its 4.5 percent notes issued in October, according to data tracked by Bloomberg
At the close of the trading day, Citigroup Inc (NYSE:C) shares rose +2.62% to settle at $27.41. Intraday trading was between $27.01 – $27.59. In the past year, the stock has traded within a range of $21.40 – $43.06. The last session’s volume of 54.30 million shares was down from the average daily trading volume of 43.57 million shares.
HSBC Holdings plc (ADR) (NYSE:HBC) shares in the last session were up +1.01% closing at $44.13. The stock traded in a range of $43.98 – $44.65. In the last year the stock has moved within a range of $35.72 – $50.71. The last session’s volume of 2.08 million shares was down from their average daily trading volume of 2.44 million shares.
Bank of America Corp (NYSE:BAC) shares were up +5.68% to close at $8.18. The stock traded between $7.95 – $8.20 during the last trading session. In the last 12 months the shares have traded between $4.92 and $11.14. The last session’s volume of 258.77 million shares was a bit lower than their average daily trading volume of 193.34 million shares.
Another rival company JPMorgan Chase & Co (NYSE:JPM), traded down -0.42% moving to $35.73. Intraday trading recorded the stock price in a range between $35.25 – $36.80. In the previous 52 weeks the price has traded between $27.85 – $46.49. The last session’s volume of 56.06 million shares was up from their average daily trading volume of 52.39 million shares.