The Hong Kong-based Li & Fung Ltd picked former Citigroup Inc (NYSE:C) banker Ed Lam as chief financial officer to assist implement its purchase strategy.
Li & Fung, the world’s biggest supplier of clothes and toys to retailers, reported in an e- mailed statement on Tuesday that Ed Lam earlier headed the Hong Kong corporate and investment banking business of Citigroup.
The corporation reported that Ed Lam worked with Li & Fung as a banker and reported on acquisitions and loans, equity and bond sales, and trade finance.
Li & Fung announced a 22% drop in core operating profit in the primary half as United States consumers curbed spending amid a slowing economy.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. BBVA Banco Frances S.A. (ADR) (NYSE:BFR) fell -3.04% to settle at $4.15, Mitsubishi UFJ Financial Group Inc (ADR) (NYSE:MTU) moved down -2.81% to end at $14.49 while Banco Macro SA (ADR) (NYSE:BMA) dropped -0.71% to finish at $13.92 on Tuesday.
Citigroup Inc. (NYSE:C) last session’s volume of 29.21 million shares was surprisingly higher than its average volume of 34.98 million shares. The stock after opening at $34.82 hit high price of $35.08 and then closed at $34.60 by scoring -0.52%.
The liquidity measure in recent quarter results of the company debt to equity ratio was 2.91 and long-term debt to equity ratio remained at 1.47. The Company had total cash of $774.56 billion at hand and a book value per share as $62.61 in the most recent quarter.
The stock’s price volatility was 2.46 % for a week and 2.87% for a month as well as price volatility’s Average True Range for 14 days was 0.91 and its beta remained at 2.63.
CITIGROUP INC generated revenue of $70.51 billion in the previous twelve months and earned $10.37 billion. The Company showed a positive 14.19% in the net profit margin as well as in its operating margin which remained at 18.25%. Company’s annual sales growth for the past five years was -4.94%.
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