Citigroup (NYSE:C) Could Cut 3,000 Jobs To Reduce Costs. Potential upside of 55% to $43.43.

Uploaded by FinancialNewsOnline on Nov 16, 2011

The Wall Street Journal reports that U.S. Bank Citigroup might be canning some of its staff to cut costs. A person familiar with the company's plans says Chief Executive Officer Vikram Pandit has discussed cutting as many as 3,000 jobs to reduce spending.

The reduction is currently equal to around one percent of the staff with almost a third of the layoffs coming from the bank's trading and investment banking operations the person said.

This report comes after Pandit shuffled his top managers last week, appointing Manuel Medina-Mora to global consumer and commercial banking and making Mike Corbat the sole CEO for Europe, the Middle East and Africa. This move was also seen to increase revenue for the company, focusing on the emerging markets in Asia and Latin America.

Citigroup (NYSE:C) has potential upside of 55% based on a current price of $28.02 and an average consensus analyst price target of $43.43.

The Wall Street Journal reports for Wednesday, November 16th. Uploaded by FinancialNewsOnline

Uploaded by FinancialNewsOnline on Nov 16, 2011

This is what's in the news for Wednesday, November 16th. The Wall Street Journal reports that Sam Zell's Equity Residential (NYSE:EQR) emerged as the lead bidder to buy about half of Archstone, and offered over $2.5B in cash and stock to buy the 53% equity stake now held by Bank of America (NYSE:BAC) and Barclays (NYSE:BCS). The Wall Street Journal reports that J.P. Morgan Chase (NYSE:JPM) plans next year to issue the first U.S. commercial mortgage-backed securities supported by defaulted loans since the 1990s. Reuters reports that Peabody Energy (NYSE:BTU) acquired 90% of Macarthur Coal, allowing the U.S. coal miner to compulsorily buy the remaining shares and increase its offer to $4.98B. Finally, Bloomberg reports that Bayer AG (PINK:BAYRY) expects its Asian sales to grow over 60% by 2015, and said revenue in the region may exceed $15B by then.

Target (NYSE:TGT) reported Q3 earnings EPS of $0.82 (expectation $0.74)

Uploaded by FinancialNewsOnline on Nov 16, 2011

Target (NYSE:TGT) reported Q3 earnings this morning, posting EPS of $0.82, topping expectations for $0.74. Revenue for the quarter rose 5% to $16.1 billion, behind estimates for $16.27 billion.

Gregg Steinhafel, chairman, president, and chief executive officer of Target Corporation said, "We're very pleased with our third quarter financial results, which reflect strong performance in our U.S. Retail and U.S. Credit Card segments. We're confident that we have the right strategy and team in place to drive continued strong performance this holiday season and well into the future, allowing us to continue rewarding our shareholders while investing millions of dollars each week to support the many local communities where our guests and team members live, work and shop."

Target (NYSE:TGT) has potential upside of 10.4% based on a current price of $53.18 and an average consensus analyst price target of $58.73.

Tyco International (NYSE:TYC) Beats Expectations in Q4 - EPS of $0.92 (consensus $0.86)

Uploaded by FinancialNewsOnline on Nov 16, 2011

Tyco International (NYSE:TYC) reported Q4 Earnings before the market opened today, posting EPS of $0.92, topping consensus estimates for $0.86. Revenue for the quarter came in at $4.69 billion, also topping estimates for $4.51 billion.

Chairman and Chief Executive Officer Ed Breen said, "We delivered a very solid quarter with strong organic revenue growth and continued operating margin improvement which helped drive a 24% increase in earnings per share. Throughout the year, we continued to increase our investment in R&D and technology while completing strategic acquisitions to strengthen our core security, fire and flow control businesses. With our strong base of recurring and service revenue, continuing order momentum in our late cycle businesses and our focus on restructuring and productivity initiatives, we are well-positioned for continued growth in 2012. We are on track with our recently-announced plan to separate Tyco into three standalone public companies in this fiscal year. This marks an exciting new opportunity for all three companies to pursue their own focused growth strategies and create significant shareholder value."

Tyco International (NYSE:TYC) has potential upside of 13.6% based on a current price of $45.79 and an average consensus analyst price target of $52.