Did Citigroup's Latest Earnings Change the Investment Case?
Citigroup stock dropped 7% post-earnings.
Overview
The second quarter proved to be a strong one for big banks, which were fueled by a surge in investment banking and mergers and acquisitions, institutional trading, and rising asset levels. But one big bank failed to impress investors despite reporting solid results in Q2: Citigroup (NYSE: C).
Citigroup stock has tumbled some 7% since the bank reported earnings on July 14. It's surprising given how Citigroup performed, crushing estimates by a wider margin than many of its competitors. But the investment case may have turned negative for many investors on the tepid outlook.
Details
But is this a knee-jerk reaction or a longer-term concern?
Source
Originally published at www.fool.com.
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