Home / Business / Stocks Retreat on New Development: Citigroup Inc. (NYSE:C), Long Island Iced Tea (NASDAQ:LTEA)

Stocks Retreat on New Development: Citigroup Inc. (NYSE:C), Long Island Iced Tea (NASDAQ:LTEA)

Citigroup Inc. (NYSE:C) [Trend Analysis] retains strong position in active trade, as shares scoring 0.14% to $55.54 in a active trade session, while looking at the shares volume, about 20.4 Million shares have changed hands in this session. Citigroup Inc. (C) reported that it will raise ordinary stock repurchase program by up to $1.75 billion. The additional buybacks will allow Citi to additional reduce the amount of its outstanding ordinary shares.

In the past two years, Citi has lowered the amount of outstanding ordinary shares by 180 million or 6%. Citigroup noted that the stock repurchase amount is in addition to the capital actions reported earlier in the current year. Combined, Citi’s total planned capital actions will raise to $12.2 billion. The firm has institutional ownership of 73.00%, while insider ownership included 0.10%. C attains analyst recommendation of 2.10 with week’s performance of 1.57%. Investors looking additional ahead will note that the Price to next year’s EPS is 8.46%.

Shares of Long Island Iced Tea Corp. (NASDAQ:LTEA) [Trend Analysis] swings enthusiastically in regular trading session, it a loss of -4.56% to close at $4.40. Long Island Iced Tea Corp. (NASDAQ:LTEA) reported that it has attained its first purchase order from Food Lion LLC.

Philip Thomas, Chief Executive Officer of the Firm, stated, “This alliance with Food Lion is the largest in our firm’s history, and we are excited to be accessible in all of its stores by next month. The Firm has achieved important milestones in 2016, and receiving this first purchase order from our largest ever alliance is a fantastic way to finish the year. As one of the premier regional chains, Food Lion’s support additional confirms our belief that our flagship Long Island Iced Tea® brand, a premium tea brewed with all natural ingredients, provided to consumers at an affordable price, positions our firm as an attractive partner across many geographies.” Moving forward to saw long-term intention, the experts calculate Return on Investment of -113.00%. The stock is going forward its fifty-two week low with 17.96% and lagging behind from its 52-week high price with -26.05%. LTEA last month stock price volatility remained 8.28%.

 

About Richard Avery

He is a capital projects manager and process design engineer at a large-cap company. He has renowned MBA degree. Before joining SWR, he was a freelance writer for renounce tech websites. He is currently studying for CFP exam. Interests: Tech stocks, Economic Markets, Blue-chips.

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