Pfizer (NYSE: PFE) enjoyed a record year in 2022. The big drugmaker's revenue topped $100 billion. Its earnings per share soared 42% to $5.47, which translates to nearly $31.4 billion in profits. Both top- and bottom-line numbers set all-time highs.
(Bloomberg) -- Morgan Stanley’s Michael Wilson said the stress in the banking system marks what’s likely to be the beginning of a painful and “vicious” end to the bear market in US stocks.Most Read from BloombergUBS to Buy Credit Suisse in $3.3 Billion Deal to End CrisisCredit Suisse’s $17 Billion of Risky Bonds Are Now WorthlessThe One Big Winner and Many Losers of UBS’s Credit Suisse RescueWarren Buffett in Contact With Biden Team on Banking CrisisCredit Suisse Said to Push Back Against UBS’s
Charmagne Chi joined the FIRE movement two years ago to pursue her passions. Her advice: Question every financial decision.
Analysts don't usually tell investors to sell S&P 500 stocks. So when they do, it's wise to pay attention.
Here are some of the biggest movers on Monday with banks again in focus, after Swiss authorities forced the takeover of Swiss bank Credit Suisse by its peer UBS. New York Community Bancorp Inc. seems to have got a good deal in buying the assets of failed Signature Bank if the former’s share price reaction is anything to go by. NYCB stock (NYCB) was up 30% in premarket trading after the regional bank said it had acquired about $38 billion in Signature’s assets and was taking over all of its branches, prompting Wedbush to upgrade the stock to outperform from neutral.
Credit Suisse said 16 billion Swiss francs ($17.24 billion) of its Additional Tier 1 debt will be written down to zero on the orders of the Swiss regulator as part of its rescue merger with UBS, angering bondholders on Sunday. FINMA, the Swiss regulator, said the decision would bolster the bank's capital. The move reflects authorities' desire to see private investors share the pain from Credit Suisse's troubles.
The Fed's aggressive interest rate hikes have eroded the value of bank assets such as government bonds and mortgage-backed securities.
Much of what was once Signature Bank of New York is being acquired by a subsidiary of New York Community Bancorp, the Federal Deposit Insurance Corp. said Sunday, one week after the bank was shut down by regulators. New York Community Bancorp stock is soaring. Starting Monday, Signature Bank’s 40 branches will operate under Flagstar Bank, a subsidiary of New York Community Bancorp (ticker: NYCB), the FDIC said Sunday. The FDIC added that all deposits assumed by Flagstar will be insured by the FDIC up to its insurance limit of $250,000.
Tough times aren’t over, but opportunities abound.
You earned that money, might as well hold onto it.
First Republic Bank's stock sank toward a record low Monday, after the bank's credit rating was slashed further into junk territory by S&P Global Ratings.
(Bloomberg) -- Most Read from BloombergUBS to Buy Credit Suisse in $3.3 Billion Deal to End CrisisCredit Suisse’s $17 Billion of Risky Bonds Are Now WorthlessWarren Buffett in Contact With Biden Team on Banking CrisisCredit Suisse Said to Push Back Against UBS’s $1 Billion OfferFed and Global Central Banks Move to Boost Dollar FundingHolders of Credit Suisse Group AG bonds suffered a historic loss when a takeover by UBS Group AG wiped out about 16 billion Swiss francs ($17.3 billion) worth of ri
(Bloomberg) -- Just weeks ago, they were bit players in the giant US banking system. Now, a handful of regional lenders are at the heart of a crisis that’s shaken the country and engaged the likes of Warren Buffett and Jamie Dimon. Most Read from BloombergUBS to Buy Credit Suisse in $3.3 Billion Deal to End CrisisCredit Suisse’s $17 Billion of Risky Bonds Are Now WorthlessThe One Big Winner and Many Losers of UBS’s Credit Suisse RescueWarren Buffett in Contact With Biden Team on Banking CrisisCr
UBS agrees to acquire rival Credit Suisse for more than $3 billion, while shares of First Republic fall sharply after the regional bank’s credit rating was cut again by S&P Global.
(Bloomberg) -- Most Read from BloombergUBS to Buy Credit Suisse in $3.3 Billion Deal to End CrisisCredit Suisse’s $17 Billion of Risky Bonds Are Now WorthlessThe One Big Winner and Many Losers of UBS’s Credit Suisse RescueWarren Buffett in Contact With Biden Team on Banking CrisisCredit Suisse Said to Push Back Against UBS’s $1 Billion OfferCredit Suisse Group AG’s Middle Eastern shareholders, which together own about a fifth of the Swiss bank, are among some of the biggest losers in the turmoil
Using technical analysis of the charts of those stocks, and, when appropriate, recent actions and grades from TheStreet's Quant Ratings, we zero in on three names. While we will not be weighing in with fundamental analysis, we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names. Estee Lauder Companies Inc. recently was downgraded to Hold with a C+ rating by TheStreet's Quant Ratings.
LONDON/ZURICH (Reuters) -Shares in UBS plunged on Monday, heading for their biggest one-day fall since 2008 after its weekend rescue of ailing rival Credit Suisse ignited concerns among investors about the long-term benefits of the deal. UBS, with a hefty backstop from Swiss authorities, agreed to buy Credit Suisse on Sunday for just a fraction of its market value in a package orchestrated by Swiss regulators. The bank will pay 3 billion Swiss francs ($3.23 billion) for Credit Suisse and assume up to $5.4 billion in losses.
(Bloomberg) -- UBS Group AG is emerging as a rare winner in Credit Suisse Group AG’s crisis after a historic, government-brokered deal that contains a raft of financial shock absorbers. Most Read from BloombergUBS to Buy Credit Suisse in $3.3 Billion Deal to End CrisisCredit Suisse’s $17 Billion of Risky Bonds Are Now WorthlessThe One Big Winner and Many Losers of UBS’s Credit Suisse RescueWarren Buffett in Contact With Biden Team on Banking CrisisCredit Suisse Said to Push Back Against UBS’s $1
A fork in the road for investors during all this banking turmoil.
(Bloomberg) -- Shares of European banks traded in Asia tumbled Monday, as investors weighed a collapse in the value of additional tier 1 bonds issued by lenders following the terms of the Credit Suisse Group AG’s rescue.Most Read from BloombergUBS to Buy Credit Suisse in $3.3 Billion Deal to End CrisisCredit Suisse’s $17 Billion of Risky Bonds Are Now WorthlessThe One Big Winner and Many Losers of UBS’s Credit Suisse RescueWarren Buffett in Contact With Biden Team on Banking CrisisCredit Suisse
The Federal Deposit Insurance Corporation announced a new deal for the failed Signature Bank to be purchased. The bank collapsed just days after the Silicon Valley Bank.
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