Market Overview

Market Roundup (C, CTXS, MCD)


Citigroup (NYSE: C) will be paying $75 million to settle charges filed by the SEC. The SEC had alleged that the bank had failed to disclose subprime exposure amounting to $40 billion to investors during 2007. C’s former CFO and head of investor relations chief financial officer Gary Crittenden agreed to pay $100,000 as part of the settlement.

Citrix (NASDAQ: CTXS) jumped about 20% even though the company missed its earnings expectations. Investors are captivated with its virtualization software that reduces the number of servers handling corporate data. That’s quite opposite to how some analysts feel about the stock.

While four sectors have enjoyed a higher earnings beat rate than the market, six have a lower beat rate. The consumer discretionary sector has the highest beat rate, followed closely by the industrials, consumer staples and technology sectors. Earnings beat rate is the lowest in the energy, telecom and financials sectors.

McDonald's (NYSE: MCD) has raised $750 million in the bond market today at the lowest interest rate paid by any US company over the past 15 years. McDonald's sold 10-year bonds worth $450 million and 30-year securities worth $300 million. The 10-year debt pays investors 3.5% interest rate.

Read more from Benzinga's Markets.


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