Citigroup Posts Upbeat Results, Joins Goldman Sachs, Wells Fargo, Bank of New York Mellon And Other Big Stocks Moving Higher On Wednesday

U.S. stocks were higher, with the Dow Jones index gaining over 650 points on Wednesday.

Shares of Citigroup Inc. C rose sharply during Wednesday's session after the company reported better-than-expected fourth-quarter financial results and announced a $20 billion buyback.

Citigroup reported a fourth-quarter fiscal 2024 revenue growth of 12% year-over-year to $19.58 billion, beating the analyst consensus of $19.48 billion. Excluding Argentina's currency devaluation and divestiture-related impacts, revenues are up 7%. GAAP EPS of $1.34 beat the analyst consensus estimate of $1.22.

Citigroup shares jumped 5.8% to $77.76 on Wednesday.

Here are some other big stocks recording gains in today's session.

Quantum Computing Inc. QUBT shares jumped 31.5% to $9.77. Shares of quantum companies traded higher after Microsoft issued a statement to its business customers to get “quantum ready” and Nvidia announced its first ever quantum day event.
D-Wave Quantum Inc. QBTS gained 26% to $5.97. Shares of quantum companies traded higher after Microsoft issued a statement to its business customers to get “quantum ready” and Nvidia announced its first ever quantum day event.
IonQ, Inc. IONQ rose 22.7% to $36.23. Shares of quantum companies traded higher after Microsoft issued a statement to its business customers to get “quantum ready” and Nvidia announced its first ever quantum day event.
Rigetti Computing, Inc. RGTI shares climbed 20% to $10.70. Shares of quantum companies traded higher after Microsoft issued a statement to its business customers to get “quantum ready” and Nvidia announced its first ever quantum day event.
The Shyft Group, Inc. SHYF gained 17.9% to $12.43. The Shyft Group issued supplemental information reinforcing significant value creation potential of proposed merger with Aebi Schmidt. DA Davidson analyst Michael Shlisky upgraded Shyft Group from Neutral to Buy.
Compass, Inc. COMP gained 15% to $6.41 after the company raised its FY24 guidance.
SoundHound AI, Inc. SOUN shares rose 11.6% to $14.28.
Upstart Holdings, Inc. UPST shares jumped 10.9% to $63.21.
Millicom International Cellular S.A. TIGO climbed 10.2% to $27.13 after the company announced new shareholder remuneration policy.
Robinhood Markets, Inc. HOOD gained 8.6% to $45.38.
The Goldman Sachs Group, Inc. GS rose 6% to $605.61 following strong quarterly results.
Wells Fargo & Company WFC gained 5.8% to $75.33 following upbeat earnings.
The Bank of New York Mellon Corporation BK rose 5.7% to $80.31 following better-than-expected fourth-quarter financial results.