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NIKE, Inc. Message Board

  • zonin.amarone zonin.amarone Mar 21, 2014 9:02 AM Flag

    Price Target Raised at Credit Suisse

    "Quality of earnings growth was high, with revenue exceeding expectations across channels and geographies. We are increasingly compelled by demand momentum as a result."

    Sentiment: Buy

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    • Credit Suisse Group AG (CSGN), Switzerland’s second-biggest bank, agreed to pay $885 million to settle lawsuits by the Federal Housing Finance Agency over mortgages sold to Fannie Mae and Freddie Mac.

      The company will book a charge of 275 million francs ($312 million) after taxes in the fourth quarter of 2013, resulting in a restatement of results to a net loss of 8 million francs for the period, the Zurich-based bank said yesterday.

      Credit Suisse was among 18 lenders sued by the FHFA in 2011 to recoup losses on about $200 billion in mortgage-backed securities sold to the two government-sponsored companies before the financial crisis. Nine companies, including JPMorgan Chase & Co., Deutsche Bank AG and UBS AG (UBSN), have agreed to pay more than $9.2 billion to settle similar lawsuits by FHFA.


55.51-0.28(-0.50%)1:57 PMEDT