NEW YORK (TheStreet) -- Citigroup (C) had a big day on Monday following an upgrade from Goldman Sachs. It seems Goldman Sachs (GS) was feeling extra generous on Monday because it enhanced its parental leave policy. Meanwhile, JPMorgan Chase (JPM) upped its tech game by announcing Touch ID authentication for Apple’s AAPL iPhone.
Citigroup’s stock rallied on Monday following a report from Goldman Sachs that gave the company a buy rating and raised its price target to $61.
Goldman Sachs’ applauded Citigroup’s stock buyback plan to repurchase $7.8 billion of stock over a five-quarter period.
Citigroup’s stock closed up 37 cents to $54.45.
Goldman Sachs' spirit of generosity extends beyond its banking peers to its very own employees. The bank said it would be extending parental leave from two weeks to four weeks in an employee-wide memo that was obtained by Business Insider.
While Goldman grants 16 weeks for maternity leave it previously only provided two weeks to fathers, partners and adoptive parents. The bank realized that changing family dynamics and two-income households necessitated being more flexible in how it grants parental leave.
Goldman Sachs’ stock closed up $1.60 to $207.79.
JPMorgan CEO Jamie Dimon may have said, “Silicon Valley is coming,” but it appears that the bank may in some ways be going to Silicon Valley.
On Monday the bank announced that its Chase Mobile(R) App for iPhone was going to start using TouchID for customer verification. Instead of having to type a username and password, customers can now just use their fingerprint.
“We’re focused on making mobile banking faster and simpler,” Gavin Michael, Head of Digital for Chase, said in a press release. “Touch ID has been the number one request of our customers – and we are excited to deliver it to them.”
JPMorgan stock closed up 30 cents to $66.08.