|Bid||11.85 x 1585400|
|Ask||11.98 x 1718200|
|Day's Range||11.86 - 12.01|
|52 Week Range||11.86 - 17.75|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||19.37|
The irony in discussing said elephant is that just this week the WSJ had an item out discussing how Warren Buffett, his Berkshire Hathaway (and that elephant gun) were finding it difficult to locate great deals in which to invest. Given that Berkshire teamed with 3G to originally form this condiment powerhouse (and collectively controlling the company with hundreds of millions of shares), it seems, at face value at least, even the deals that were found hadn’t turned out all that great. Are no longer confident the company can ensure brand equity that is necessary to compete in the current environment"The driver of the reduced profitability ironically was non-commodity-related cost inflation net of savings," Deutsche Bank analysts wrote, while acknowledging the synergies related to the merger were "unrealistic"UBS, in a downgrade to a neutral rating, wrote that results were "thesis changing".
A U.S. judge has rejected Credit Suisse Group AG's bid to dismiss a lawsuit accusing the Swiss bank of defrauding shareholders about its risk appetite and risk management before taking $1 billion of writedowns on souring debt. The decision by U.S. District Judge Lorna Schofield in Manhattan was made public on Wednesday. Schofield said investors who lost money in Credit Suisse's American depositary receipts could pursue claims that the bank, Chief Executive Tidjane Thiam and other defendants intended to mislead them, by touting its "comprehensive" risk controls and "binding" limits on its exposure to risky and illiquid debt.
The S&P BSE Sensex climbed 0.4 percent to 35,898.35 at the close in Mumbai, after its steepest gain this month on Wednesday halted a nine-day decline. While India’s economy is expected to be among the fastest expanding among major nations and corporate earnings growth is seen recovering from multi-year lows, investors are waiting to see whether national polls expected in May deliver a government that continues with policies aimed at boosting spending and productivity.
QIA is J Sainsbury Plc’s largest shareholder, controlling more than a fifth of the British grocery chain. The value of that holding fell by about 257 million pounds ($336 million) Wednesday, data compiled by Bloomberg show, on news that the grocer’s planned tie-up with Asda hadn’t passed muster with regulators. Supermarkets aren’t the only European investments looking dubious for Qatar, which has one of the world’s largest sovereign-wealth funds, with more than $320 billion in assets.
Lyft, which announced in December that it had filed its IPO application confidentially with the U.S. Securities and Exchange Commission, intends to list its shares on the Nasdaq market, the person said. A spokeswoman for San Francisco-based Lyft declined to comment. The details of the companies IPO plans were reported earlier by Reuters and the Wall Street Journal.
The report came as a blow to investors who had poured money into the country to profit from appealing interest rates and a stable currency. “Real interest-rates are now very low after the significant reduction in rates in the past few weeks,” said Joaquin Gonzalez Gale, a currency trader at INTL FCstone Argentina in Buenos Aires.
The Swiss firm will force some managing directors in Asia to repay part of the cash portion of their 2018 bonuses if they leave within three years of receiving it, people with knowledge of the matter said. The cash bonuses will be fully paid out in coming weeks, according to the people, who asked not to be named discussing confidential information. For its most highly paid investment bankers in the U.S., Credit Suisse will increase the deferred-compensation part of bonuses to bring payout schedules more in line with Europe, two of the people said.
Want to participate in a short research study? Help shape the future of investing tools and receive a $20 prize! On 31 December 2018, Credit Suisse Group AG (VTX:CSGN) announcedRead More...
Investors will get to dive into the January meeting minutes, while also hearing from at least three policy makers who will address the $4 trillion portfolio specifically. Key for investors will be any insights into the ultimate end date of the unwind, the eventual size of the balance sheet and the final asset mix. “Most of the focus will be on the balance sheet, given how, at this point, the Fed has largely capitulated to the market on rate hikes,” said Jonathan Cohn, the head of interest-rate trading strategy at Credit Suisse in New York.
Credit Suisse Group AG swung to a profit in the fourth quarter, despite weakness in its trading business, and posted its first annual profit since 2014 following a three-year restructuring plan. The results follow a sharp decline in the Swiss banking giant’s share price over the past 12 months and an overhaul aimed at streamlining the investment-banking division and boosting its wealth-management business under Chief Executive Tidjane Thiam. The bank closed 2018 with an annual profit of 2.06 billion Swiss francs ($2.04 billion).
Coca-Cola KO – Coca-Cola matched Wall Street forecasts with adjusted quarterly profit of 43 cents per share, revenue above estimates and organic growth strongly beating forecasts. Alphabet GOOGL – Citi named the Google parent its "top pick", replacing Amazon AMZN as #1 on its list of favorite stocks. Citi's re-ranking of its list is based on expected momentum this year for revenue growth and profit margins.
Credit Suisse Group AG made a point of noting it navigated the severe market dislocation at the end of 2018 with no material losses. In market conditions that Chief Executive Officer Tidjane Thiam described as the perfect stress test, the bank’s fourth-quarter pretax profit beat estimates, bringing the full-year total to 3.4 billion Swiss francs ($3.4 billion), the largest annual profit since 2014. Thiam deserves credit for cutting annual expenses from 21 billion francs in 2015 to a better-than-expected 16.5 billion francs in 2018.
Earnings from Renault, AstraZeneca and Airbus led a busy slate of corporate news Thursday. While DSM and Mirco Focus made some of the largest shares moves. They were both last up more than 8% and 11% respectively....
The Global Markets business posted a larger-than-expected loss of 193 million francs ($191 million) in the fourth quarter, offsetting wealth management and investment banking results that beat estimates. In a tough quarter for money managers, the Zurich-based bank bucked a trend of large outflows at rivals, adding about half a billion francs of net new money.
Credit Suisse posted its first annual profit in four years on Thursday as a long-running restructuring plan made its mark but Switzerland's second-biggest bank warned of significant uncertainty on how markets will fare in the months ahead. Calling the fourth quarter a "stress test" for the revamped group, Chief Executive Tidjane Thiam said results showed the bank was now on a sound footing to weather turbulent markets -- marked by concerns over a U.S. government shutdown, U.S.-China trade tensions and Britain's unclear exit from the European Union -- after finishing a three-year turnaround. "The old Credit Suisse would have really struggled.
Chief executive Tidjane Thiam has transformed the 162-year-old Swiss lender since joining in July 2015, slashing its volatile and capital-intensive trading operations to expand the more profitable and predictable wealth management and private banking units, particularly in Asia. in its struggling global markets trading operation, which was offset by increased profits and revenues in its wealth management and Swiss universal banking divisions.
The bank reported a full-year net profit of 2.1 billion Swiss francs ($ 2.08 billion) for 2018. The Swiss lender reported a net loss of 983 million Swiss francs in 2017. Credit Suisse completed at the end of last year its three-year restructuring program.
The loss is related to financing the bank’s Swiss arm provided to a commodity trading company, the people said, asking not to be identified because the matter is private. Didier Denat, the head of the Swiss corporate and investment bank, called in staff on a weekend to tell them they may lose their bonuses, the people said. The unit that provided the financing is small, with a few dozen employees.
move to buy rival Scor, according to the head of the takeover target. In an interview with French business newspaper Les Echos, Scor chief executive Denis Kessler said the decision was down to Mr Thiam himself.
Credit Suisse's investment banking operation has been scaled back enough, Chairman Urs Rohner was quoted saying in a newspaper interview, underscoring the number two Swiss bank's commitment to the business. Asked by Schweiz am Wochenende if the investment bank was tying up too much capital, Rohner said: "No, we see 60 billion Swiss francs (46 billion pounds) in risk-weighted assets as a reasonable size for our trading business. Like bigger rival UBS, Credit Suisse has cut investment banking to focus on wealth management, reducing the financial impact when markets turn volatile.