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UBS Will Absorb Credit Suisse; UBS Profit Soars In 2Q23
UBS Group (NYSE:UBS) said on Thursday it will fully absorb Credit Suisse’s domestic bank – a decision that comes despite a likely backlash in Switzerland, where it could result in the loss of thousands of jobs. Shares in UBS Group AG were up about 6 percent in Swiss morning trade, as well as 5 percent…
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Salesforce Rises 5% Following Strong Earnings Report
Salesforce (NYSE:CRM) saw a 5% increase on Thursday after its robust earnings report indicated that cost-cutting efforts were effective and demand was holding up better than expected in a tumultuous economy. The business software company behind workplace messaging tool Slack and data analytics platform Tableau is set to add around $10 billion to its market…
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Thursday’s Wall Street Highlights: UBS, Microsoft, Shopify, Salesforce, Okta and more
US index futures were mixed in premarket Thursday, with traders awaiting further US indicators and mulling over eurozone inflation data and UBS’s first earnings after the Credit Suisse acquisition. By 6:51 AM, Dow Jones (DOWI:DJI) futures were up 109 points, or 0.31%. S&P 500 futures were up 0.07% and Nasdaq-100 futures were down 0.11%. The 10-year Treasury yield…
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North American Morning Briefing: PCE Inflation Data Awaited
Market Wraps Watch For: Personal Income for July; Weekly Jobless Claims; earnings from Broadcom, VMware, Dell Technologies, Lululemon, Dollar Genera, Campbell Soup Today’s Headlines/Must Reads – Americans Likely Increased Their Spending Significantly Last Month – China’s Economy Shows Fresh Signs of Weakness in Factories, Consumer Spending – Arm, Instacart, Klaviyo Prep for Their IPOs-With Caution…
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US Futures Rise, European Stocks Mixed
In the U.S. futures for the S&P 500 were up 0.1% and futures for the Dow Jones Industrial Average increased 0.2%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 was flat in morning trading. UBS Group added 5.5% and Rockwool Series B climbed 4.5%. On…
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Top Company News of the Day: UBS, Arm, Instacart, Klaviyo, Pernod Ricard
UBS Posts Record $29 Billion Profit on Credit Suisse Deal UBS booked a record $29 billion net profit last quarter after it integrated Credit Suisse into its books. Arm, Instacart, Klaviyo Prep for Their IPOs-With Caution Companies are lining up big investors ahead of time and selling small slugs of stock in a sign of…
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Private Sector Jobs Data Contributes To Continued Strength On Wall Street
Extending the upward trend seen in recent sessions, stocks moved moderately higher during trading on Wednesday. The major averages all moved to the upside, closing higher for the fourth consecutive session. The Nasdaq climbed 75.55 points or 0.5 percent to 14,019.31, the S&P 500 rose 17.24 points or 0.4 percent to 4,514.87 and the Dow…
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Crypto This Wednesday: Google to Modernize El Salvador’s Digital Infrastructure, Prada Embraces Blockchain, and More
EOS token receives regulatory approval in Japan, aims for Asian expansion EOS token (COIN:EOSUSD) has been approved for trading against the Japanese yen by regulators, with trading scheduled to begin in mid-September on BitTrade. The EOS Network Foundation (ENF) sees this approval as a crucial step towards expanding its presence in Japan and the broader Asian…
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Catalent Announces Cooperation Agreement With Elliot Investment: Analysts’ Price Recommendations
Catalent (NYSE:CTLT) announced a cooperative agreement with activist investor Elliott Investment Management and separately released an upbeat full-year earnings outlook, even as it reported lower fourth-quarter fiscal results year-over-year. Under the terms of the agreement, the drugmaker appointed four new independent directors and formed a strategic committee to review its commercial and operational strategy. John…
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Oil Futures Operate Higher On Arrival Of Hurricane Idalia And Fall In US Inventories
Crude oil futures prices were trading higher on Wednesday as traders eyed the arrival of Hurricane Idalia on the Florida coast, falling US inventories and the release of the ADP job creation report. “According to the International Energy Agency (IEA), the Gulf of Mexico accounts for about 15% of US oil production and about 5%…