Citigroup (C) Banks a Win for 2Q

Citigroup (C) is the subject of today’s FOMO segment. In this segment Alex Coffey and Jenny Horne discuss Citigroup’s (C) earnings results. Jenny looks at Citigroup stock which was rising nearly 13% in afternoon trading on Friday, after beating Wall Street 2Q estimates. Citigroup (C) GAAP EPS of $2.19 beats by $0.52, revenue of $19.64B beats by $1.32B. Alex compares the similarities between Citigroup (C) results to JP Morgan’s (JPM) yesterday and notes how market reaction is sometimes tied to investor sentiment of the day. Alex then demonstrates an example Buy Call Vertical trade using shares of Citigroup (C) which was trading ~ $50/share on Friday. That’s down 91% from its all-time high back in 2006.