Jim Cramer is Talking About These 14 Stocks Before Earnings

5. Citigroup Inc. (NYSE:C)

Number of Hedge Fund Holders: 85

While Cramer does not share the enthusiasm around Citigroup Inc. (NYSE:C), he mentioned that CEO Jane Fraser has been leading the company rather well.

“The Street’s fallen in love with the stock of Citi. Rather amazing under the leadership of Jane Fraser. Sometimes I think she could say anything and the analysts would praise her. She’s turning Citi around. Not an easy task. Hard to remember the last time I saw so much confidence in this institution. I don’t share it yet because I like so many of the other banks.”

Citigroup (NYSE:C) is a leading global financial services company that provides an extensive range of financial products and services. It includes cash management, trading, investment banking, retail banking, and wealth management. On October 10, the company made significant advancements in its service offerings with the announcement that Citi Token Services for Cash transitioned from a pilot phase to a fully operational solution. It allows the facilitation of multimillion-dollar transactions for institutional clients, marking a key step in the company’s effort to deliver next-generation transaction banking services.

Moreover, Citi Token Services for Trade also reached an important benchmark by successfully executing pilot transactions with shipping agents CB Fenton and GAC Panama Shipping. In the second quarter, Citigroup (NYSE:C) reported revenues of $20.1 billion, a 4% increase compared to the previous year. This growth was widespread across various business segments, particularly in Banking, US Personal Banking, and Markets. The revenue growth included an approximate $400 million gain from the completion of the Visa B exchange during the quarter.

Additionally, the company’s net income reached $3.2 billion for the same period, up from $2.9 billion a year earlier. This rise in net income was supported by increased revenues and reduced expenses. By the end of the quarter, its deposits stood at about $1.3 trillion, which points to a solid foundation of client trust and engagement.