Vi e w p o i n t | In our daily, we highlight items of interest for Homebuilders, Building Products & Construction Materials investors: Homebuilders outperformed last week (+0.7% vs S&P -0.6%) as solid earnings and above-cons GM from DHI & PHM offset Middle East conflict and inflation concerns; Building Products lagged (-1.3%). Herein we debut our Week 2 earnings tracker, identifying 49 Homebuilders & Building Products producers reporting with key items to watch; today we'll look for reads on discretionary ...

The SMID Point Monday, 27 July 2026 Company | Industry Roundup | 27 Jul 2026 07:00:00 ET Citi North America Research AC +1-212-816-5062 Company Albertsons Companies Inc (ACI.N) - Too Much Self-Help Required, and "Too Cheap" Not Enough; Downgrading to Neutral We are downgrading ACI from Buy to Neutral. Though we were cautious into 1Q (preview), we thought the stock's low multiple provided some cushion (and a miss seemed priced in). But EPS and ID sales missed consensus by more than we thought, and mgmt cut t ...

Citi's Most Read - Financials & FinTech July 20 - July 26 Most Read Roundup | 27 Jul 2026 07:36:53 ET Citi Global Research AC +44-20-7500-1400 MostRead Marsh Inc (MRSH.N) - Balanced Risk-Reward; Downgrade to Neutral We are downgrading the shares of Marsh to Neutral from Buy. The stock now appears to more reasonably discount the outlook, while we lack a differentiated view on the company's current prospects. When we upgraded the shares to Buy on May 6, we believed concerns or AI risk and pricing had created ...

27 Jul 2026 07:35:27 ET │ 9 pages North America Diversified Metals & Mining Americas Metals & Mining Daily (7/27/2026) CITI'S TAKE Flash | Daily news. STEEL. US Presses Mexico to Mirror Its Steel Tariff Wall Aimed at China. "The US has asked Mexico to mirror Washington's tariff wall against Chinese steel and aluminum by imposing Section 232-style duties on imports from outside North America, according to four people with direct knowledge of the matter. The goal is to preserve preferential treatment for stee ...

Vi e w p o i n t | 27 Jul 2026 07:00:00 ET │ 8 pages US Economics The Daily Update - Can the Fed surprise us? CITI'S TAKE We expect the Fed to hold policy rates steady. A surprise hike would be oddly timed following softer core CPI and inflation breakevens reflecting expectations for subdued inflation. Andrew Hollenhorst AC +1-212-816-0325 andrew.hollenhorst@citi.com Veronica Clark AC +1-212-816-8830 veronica1.clark@citi.com See Appendix A-1 for Analyst Certification, Important Disclosures and Research Anal ...

Roundup | Citi's Most Read - Tech & Communications July 20 - July 26 Most Read 27 Jul 2026 07:36:46 ET Citi Global Research AC +44-20-7500-1400 MostRead Alphabet Inc (GOOGL.O) - 1st Impression: AI Momentum Drives Cloud Accel & Backlog, Search & YT Momentum Continues Alphabet's 2Q26 results came in better than expected, led by Search and Cloud revenue growth. Total revenue of $119.8B (+23% Y/Y ex-FX) came in ~2% above FactSet consensus, with Search revenue growth of +16.8% Y/Y and Cloud revenue growth accele ...

Index Tranche Analytics Report Daily Summary Tranche SNAC Spreads Citi Structured Credit 7/27/2026 1 0 100 200 300 400 500 600 700 800 900 1,000 Jul-25 Sep-25 Nov-25 Jan-26 Mar-26 May-26 Jul-26 5Y IG41 7-15% 5Y IG43 7-15% 5Y IG45 7-15% 5Y HY41 25-35% 5Y HY43 25-35% 5Y HY45 25-35% 0 10 20 30 40 50 60 70 80 90 Jul-25 Sep-25 Nov-25 Jan-26 Mar-26 May-26 Jul-26 5Y IG41 15-100% 5Y IG43 15-100% 5Y IG45 15-100% 5Y HY41 35-100% 5Y HY43 35-100% 5Y HY45 35-100% 0 500 1,000 1,500 2,000 2,500 3,000 3,500 Jul-25 Sep-25 N ...

IG Citi Credit Options Snapshot - 7/27/2026 HY MA XO 0% 5% 10% 15% 20% 25% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Feb-25 May-25 Aug-25 Dec-25 Mar-26 Jun-26 Oct-26 3M Implied Volatility History ATM 25% Put 25-50 Skew (RHS) 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Feb-25 May-25 Aug-25 Dec-25 Mar-26 Jun-26 Oct-26 3M Implied Skew History 25% Call 25% Put 25% RR (RHS) 10% 30% 50% 70% 90% Feb-25 May-25 Aug-25 Dec-25 Mar-26 Jun-26 Oct-26 Realized Volatility 30D 90D ...

CITI'S TAKE Charter 2Q results underwhelmed, with weaker-than-expected broadband trends and a softer 2026 EBITDA outlook. However, Charter is targeting sequential broadband ARPU improvement on the heels of a July price action. When taken with additional cost actions and stronger political advertising, Charter is targeting slight EBITDA growth in the 2H26. Charter also announced an updated capital allocation plan to target net debt leverage at 3.5x EBITDA, while returning capital to shareholders through buyb ...

Vi e w p o i n t | 27 Jul 2026 06:55:47 ET │ 11 pages See Appendix A-1 for Analyst Certification, Important Disclosures and Research Analyst Affiliations. North America Chemicals Examining Bogeys and Read-Throughs for This Week's 2Q26 Earnings CITI'S TAKE With the 2Q reporting cycle kicking off, we examine investor feedback and bogeys on companies reporting this week. This Week's Earnings Schedule — AXTA, ECL, and SHW report on Tuesday, 7/28 BMO, while PPG reports on Tuesday, 7/28 AMC. FMC reports on Wednes ...