CS - Credit Suisse Group AG

NYSE - Nasdaq Real Time Price. Currency in USD
13.15
+0.14 (+1.04%)
As of 12:24PM EST. Market open.
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Previous Close13.01
Open13.14
Bid13.12 x 36200
Ask13.13 x 41800
Day's Range13.07 - 13.16
52 Week Range10.23 - 13.62
Volume699,909
Avg. Volume2,381,524
Market Cap32.744B
Beta (3Y Monthly)1.54
PE Ratio (TTM)N/A
EPS (TTM)-0.14
Earnings DateN/A
Forward Dividend & Yield0.26 (1.98%)
Ex-Dividend Date2019-05-03
1y Target Est15.14
  • Credit Suisse Might Lower Bonuses at Investment Banking Unit
    Zacks

    Credit Suisse Might Lower Bonuses at Investment Banking Unit

    Marred by slowdown in investment banking and capital markets activity, Credit Suisse (CS) is planning to reduce bonuses and reallocate capital to profit-making units.

  • Goldman Sachs to Pay $20 Million in Bond-Rigging Settlement
    Bloomberg

    Goldman Sachs to Pay $20 Million in Bond-Rigging Settlement

    (Bloomberg) -- Goldman Sachs Group Inc. agreed to pay $20 million to settle an investor lawsuit accusing traders at the bank, along with 15 other financial institutions, of rigging prices for bonds issued by Fannie Mae and Freddie Mac.As part of the settlement, disclosed Friday in a court filing, Goldman Sachs will cooperate with investors in their case against the other banks. The firm also agreed to make changes to its antitrust-compliance policies related to bond trading. A federal judge in Manhattan must approve the settlement before it can take effect.Investors sued after Bloomberg reported in 2018 that the U.S. Department of Justice was investigating some of the world’s largest banks for conspiring to rig trading in unsecured government bonds.Goldman Sachs has turned over 71,000 pages of potential evidence, including four transcripts of chat-room conversations among its traders and some from Deutsche Bank AG, BNP Paribas SA, Morgan Stanley and Merrill Lynch & Co., according to court papers filed Friday. The bank agreed to provide additional help, including deposition and court testimony, documents and data related to the bond market.Goldman Sachs isn’t the first to resolve the civil claims. In September, Deutsche Bank agreed to settle for $15 million. First Tennessee Bank and FTN Financial Securities Corp. agreed to a $14.5 million settlement later in September.Among the firms remaining as defendants in the case are Credit Suisse AG, Barclays PLC and Citigroup Inc.The case is In re GSE Bonds Antitrust Litigation, 19-01704, U.S. District Court, Southern District of New York (Manhattan).To contact the reporter on this story: Bob Van Voris in federal court in Manhattan at rvanvoris@bloomberg.netTo contact the editors responsible for this story: David Glovin at dglovin@bloomberg.net, Steve StrothFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Bloomberg

    Bitcoin Firm Canaan Loses Credit Suisse as Lead in Smaller IPO

    (Bloomberg) -- Canaan Inc., a maker of Bitcoin mining machines, lost the lead left bank for its U.S. initial public offering and has scaled back its offering.The company plans to offer 10 million American depository shares at $9 to $11 apiece to raise as much as $110 million, according to an amended filing to the U.S. Securities and Exchange Commission. Canaan previously listed the size of IPO as much as $400 million.Credit Suisse Group AG, which was listed in an October filing as the lead underwriter of the offering, isn’t mentioned in Wednesday’s revised filing.The Swiss bank was concerned whether the offering could secure sufficient orders, according to people with knowledge of the matter. 36Kr Holdings Inc., a Chinese news website, cut its IPO size by almost two-thirds to about $20 million and the shares fell 10% in its Nasdaq debut. Credit Suisse was one of the banks that led the share sale. It is also advising Alibaba Group Holding Ltd. on its planned Hong Kong share sale, which could be the biggest listing in the city this year.Citigroup Inc., China Renaissance and CMB International Capital Ltd. are leading the listing of Canaan. Representatives for Canaan and Credit Suisse declined to comment.Canaan reported a net loss of $33 million on revenue of $134 million during the nine months ended June 30, compared with a profit of $21 million on $346 million in revenue during the same period last year.The company attempted a Hong Kong listing before letting its application lapse last November. It had planned to seek as much as $1 billion then, people with knowledge of the matter said at the time.Each American depository share in the offering represents 15 class A shares, which carry one vote each. The company’s Class B shares entitle holders to 15 votes each.Canaan plans to list its shares on the Nasdaq Global Market under the symbol CAN.\--With assistance from Zheping Huang.To contact the reporters on this story: Crystal Tse in New York at ctse44@bloomberg.net;Carol Zhong in Hong Kong at yzhong71@bloomberg.netTo contact the editors responsible for this story: Liana Baker at lbaker75@bloomberg.net, Michael Hytha, Fion LiFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • PR Newswire

    Commodities Gained on Fed Rate Cut and Improving Trade Relations

    NEW YORK, Nov. 12, 2019 /PRNewswire/ -- Commodities gained in October as weak economic data increased the likelihood for further interest rate cuts and as the US and China appeared closer to a partial trade agreement. The Bloomberg Commodity Index Total Return was higher for the month, with 19 of 23 constituents posting gains. Precious Metals increased 3.79%, led higher by Silver, as cooling US economic data encouraged the US Fed to cut the Federal Funds Rate and increased investment appetite for other stores of wealth.

  • Financial Times

    Credit Suisse names David Miller head of investment banking 

    Credit Suisse has named David Miller the new head of its investment banking and capital markets business, replacing James Amine after four years in charge, as the lender looks to improve performance at the division. Mr Amine, also a veteran of the bank, will leave the executive board and become head of private credit opportunities, based in New York, Credit Suisse said in a statement. Alongside the promotion of Mr Miller, Eric Varvel was named chairman of the investment banking and capital markets unit and Harold Bogle the vice-chairman of the group executive office.

  • Chinese digital agency pushes on with $400 million U.S. IPO: sources
    Reuters

    Chinese digital agency pushes on with $400 million U.S. IPO: sources

    Cue has appointed Credit Suisse and Morgan Stanley to raise $300-$400 million as part of its initial public offering (IPO) due early next year, the sources said. Cue is a digital agency that works with Chinese tech companies like ByteDance, Baidu and Tencent <0700.HK> to source advertising on their popular Chinese apps like WeChat, Douyin, Jinri Toutiao, and Kuaishou. The Shanghai-based company was formed in March last year when four digital firms consisting of WIN, AnG, Wina Tech and Qixin were merged into a partnership and the business was backed by KKR .

  • Ex-Banker’s Bromance Soured After He Got $5.7 Million in Bribes
    Bloomberg

    Ex-Banker’s Bromance Soured After He Got $5.7 Million in Bribes

    (Bloomberg) -- A former Credit Suisse Group AG banker told a jury in New York that a shipbuilding executive who once called him a brother ended up threatening him when money from the bank stopped flowing.Surjan Singh is one of three former Credit Suisse bankers who have pleaded guilty to taking millions of dollars in bribes from Privinvest Group executive Jean Boustani. Boustani, who’s accused of defrauding investors, denies wrongdoing.Singh testified Wednesday he was paid $5.7 million to help arrange two of three loans for maritime projects in Mozambique contracted to Privinest -- all part of an alleged $2 billion scam. Singh’s boss, Andrew Pearse, told jurors earlier that Privinvest and Boustani paid him at least $45 million for his help in securing funding for shipbuilder.After Pearse left Credit Suisse in mid-2013, Singh said he took over as head of the Global Finance Group. It was then, while running together one weekend, that Pearse first raised the possibility that Singh could make money on the side.“Andrew Pearse makes it clear to me that the contractor, Jean Boustani, will look after me,” Singh testified. He said he got $2 million from Privinvest and Boustani for helping increase funding for the first coastal surveillance project in Mozambique, with additional payments for helping arrange funding for a tuna-fishing fleet.U.S. prosecutors say the maritime projects were created to funnel more than $200 million in bribes and kickbacks to Mozambican officials and the bankers, with Privinvest inflating costs to cover the payments.Singh testified that Boustani helped to get him to Abu Dhabi and to set up a bank account where the payments were deposited. Boustani also got him work permits and a passport, Singh said.Once the paperwork was finished, Singh said Boustani hugged him and declared the deals were incredibly important and “we need to get this done.”“We’re brothers,” Boustani said, according to Singh. Boustani promised to “look after me,” Singh added.Read More: Jury Sees Mozambican Emails U.S. Argues Are Proof of Bribe PlotBut the relationship soured as money from the bank dried up. After Mozambique told Credit Suisse it wouldn’t be able to meet repayment deadlines, Boustani and Pearse asked Singh to help extend the loans, the jury was told.Singh said the bank was leery because the companies had failed to generate any revenue. But when another banker promised Iskandar Safa, the chief executive officer of Privinvest, that Credit Suisse could do other business with the shipbuilder, Pearse became “furious,” Singh said.Pearse said Boustani wanted the $5.7 million back, according to Singh.“Mr. Boustani conveyed a threat through Mr. Pearse, threatening to send a letter to Credit Suisse that he, Mr. Boustani, had paid me monies and that it was inappropriate for me to take them,” Singh said. “I told Mr. Pearse that such a threat was not credible, that there was as much guilt for him, as me, for receiving a kickback as for Mr. Boustani in paying.”Singh said he told Pearse he wouldn’t repay Boustani.“Mr. Pearse advised me to be careful,” Singh said. “These are not good people,” Singh said Pearse told him.“I am now scared and I tell Mr. Pearse to allow me to leave Credit Suisse and once I leave I will sort out something with Mr. Boustani,” Singh testified.Singh continues his testimony on Thursday.Karina Byrne, a spokeswoman for Credit Suisse, declined to comment on the testimony.Privinvest didn’t return a call seeking comment on Singh’s testimony but the company has previously denied any wrongdoing or impropriety in its role in the Mozambique projects, saying it “went above and beyond to deliver” maritime equipment to the African nation.The case is U.S. v. Boustani, 18-cr-681, U.S District Court, Eastern District of New York (Brooklyn).To contact the reporter on this story: Patricia Hurtado in Federal Court in Manhattan at pathurtado@bloomberg.netTo contact the editors responsible for this story: David Glovin at dglovin@bloomberg.net, Joe Schneider, Peter BlumbergFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • PR Newswire

    Credit Suisse Announces Coupon Payments and Expected Coupon Payments on Credit Suisse X-Links® Exchange Traded Notes (the "ETNs")

    NEW YORK , Nov. 5, 2019 /PRNewswire/ -- On November 4, 2019 , Credit Suisse declared coupon payments for the following ETNs: ETN Ticker ETN Name Closing Indicative Value on  10/31/19 Ex-Date Record Date ...

  • Credit Suisse CEO Cautions on Outlook After Trading Beat
    Bloomberg

    Credit Suisse CEO Cautions on Outlook After Trading Beat

    (Bloomberg) -- Credit Suisse Group AG gave a more downbeat outlook after trading income surged, saying the U.S.-China trade dispute will lead to more cautious spending and investment decisions.The Zurich-based bank also highlighted Brexit as an ongoing geopolitical challenge likely to affect client sentiment this year. It struck a cautious note after third quarter results that beat analysts estimates for both revenue and net income, led by gains at its global markets business -- once a perennial source of concern for Chief Executive Officer Tidjane Thiam.Thiam is grappling with the market challenges while seeking to move beyond one of the bank’s biggest scandals of recent years after the botched surveillance of a former executive sparked probes by Swiss prosecutors. Chief Operating Officer Pierre-Olivier Bouee, the CEO’s chief lieutenant at three companies, stepped down this month after ordering detectives to shadow former wealth-management head Iqbal Khan to ensure he didn’t poach clients and brokers for his new team at UBS Group AG.“Shareholders have been very much backing the company and its leadership,” Thiam said in an interview with Francine Lacqua on Bloomberg TV. “The action taken was inappropriate, no question about that, and disproportionate,” he said of the spying operation, his first public comments since the scandal broke. Thiam said he did not order the action and it hasn’t had a discernible impact on the business.Chairman Urs Rohner said that Thiam retains his personal backing and that of the board after the spying affair. The matter had escalated after a personal dispute between Thiam and Khan, with media reports saying the two men had fallen out over Khan’s ambition and personal insults at a party earlier this year.Credit Suisse shares declined as much as 3.1 percent, the most in more than a month, and traded 2.8% lower as of 10:33 a.m. in Zurich. Citigroup analysts Andrew Coombs and Nicholas Herman said the results were “mixed” in a note to clients, while KBW analyst Thomas Hallett said that questions remain on the underperforming capital markets unit and Asia trading.Global MarketsThe global markets trading unit, a source of surprise losses in recent years, saw revenue soar and pretax profit rise to 269 million francs ($270 million), almost double what analysts were expecting. The gains were driven by a 63% increase in fixed income trading, while equity trading rose three percent, beating the average gain at U.S. peers. Investment banking & capital markets business swung to a second quarterly loss this year and the Asian trading business also reported a loss.Inflows at wealth management of 5.6 billion francs missed analyst estimates for almost 7 billion francs, though pre-tax profit of 539 million francs at the international wealth management unit was better than expected. Philipp Wehle, who replaced Khan as head of that business, plans to boost number of private bankers that serve its richest clients.As part of the emphasis on private banking, Credit Suisse is considering a return to U.S. wealth management after a four-year absence, people familiar with the matter said earlier this month. Talks have focused on adding $15 billion of assets under management at a new base in Miami, mostly catering to wealthy Latin Americans, the people said.While Thiam has held off on job cuts like those announced by Deutsche Bank AG and Societe Generale SA, an industry-wide slump in trading and initial public offerings and the prospect of low interest rates for longer may test his resilience. The bank plans to impose charges on more wealthy clients to spread the pain of negative interest rates and expects to start charging for Swiss franc deposits after imposing a 0.4% fee on euro accounts of more than 1 million euros ($1.1 million), according to a person with knowledge of the matter.Face TimeThiam has also been devoting more face time to top private bankers in recent months and holding talks on boosting pay as he seeks to prevent defections after Khan’s exit, according to people familiar with the matter. The CEO has been reaching out to the best revenue generators at the international wealth business to discuss compensation and career prospects, paying particular attention to emerging markets such as Brazil, the Middle East and emerging Europe, the people said.The earnings add to momentum last quarter after the bank had brushed off the gloom in European banking as wealthy clients added new money and revenue from securities trading rose in a quarter in which peers posted declines. Thiam emerged from a painful three-year turnaround six months ago.(Adds analyst comment in sixth paragraph.)To contact the reporters on this story: Patrick Winters in Zurich at pwinters3@bloomberg.net;Marion Halftermeyer in Zurich at mhalftermeye@bloomberg.netTo contact the editors responsible for this story: Dale Crofts at dcrofts@bloomberg.net, Ross LarsenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Credit Suisse profit soars and beats expectations
    MarketWatch

    Credit Suisse profit soars and beats expectations

    The bank’s key international wealth management division posted a 43% increase in pretax profit, while earnings at its domestic bank grew 19%.

  • Investing.com

    Day Ahead - Top 3 Things to Watch

    Investing.com - Here's a preview of the top 3 things that could rock markets in tomorrow's session.

  • UBS wants new recruit Khan to drop criminal complaint over spying: paper
    Reuters

    UBS wants new recruit Khan to drop criminal complaint over spying: paper

    UBS wants Iqbal Khan, co-head of its wealth management business, to drop his criminal complaint over a spying scandal that emerged after he left cross-town rival Credit Suisse , the SonntagsZeitung newspaper reported on Sunday. UBS's board would welcome it if Khan abandoned his complaint against the three private detectives who followed him during his last weeks as a Credit Suisse employee, the paper said, citing sources close to the UBS board. Khan, who left Switzerland's second-biggest bank in July and began working at UBS in October, was under surveillance by private detectives hired by Credit Suisse from Sept. 4 to Sept. 17, when he spotted them.

  • Investing.com

    Day Ahead: Top 3 Things to Watch

    Investing.com - Here are three things that could rock markets tomorrow.

  • Morgan Stanley elbows out rivals for plum role in $1.5 billion IPO relaunch - sources
    Reuters

    Morgan Stanley elbows out rivals for plum role in $1.5 billion IPO relaunch - sources

    Morgan Stanley has usurped rivals including Deutsche Bank, Citigroup, Credit Suisse and Goldman Sachs to lead the relaunch of a $1.45 billion IPO - Hong Kong's second-largest this year - in an unusually brutal shuffling of banks' roles on a big deal. The Wall Street bank was approached by ESR Cayman and its main backer, Warburg Pincus, in August to develop a rescue plan for ESR's initial public offering (IPO), according to two sources involved in the transaction, after the industrial property investor was forced to pull its original planned float in June.

  • Morgan Stanley elbows out rivals for plum role in $1.5 billion IPO relaunch: sources
    Reuters

    Morgan Stanley elbows out rivals for plum role in $1.5 billion IPO relaunch: sources

    Morgan Stanley has usurped rivals including Deutsche Bank, Citigroup, Credit Suisse and Goldman Sachs to lead the relaunch of a $1.45 billion IPO - Hong Kong's second-largest this year - in an unusually brutal shuffling of banks' roles on a big deal. The Wall Street bank was approached by ESR Cayman and its main backer, Warburg Pincus, in August to develop a rescue plan for ESR's initial public offering (IPO), according to two sources involved in the transaction, after the industrial property investor was forced to pull its original planned float in June.

  • GuruFocus.com

    Is the Boeing Narrative Finally Shifting?

    Institutions appear to be souring on the beleaguered aircraft manufacturer Continue reading...

  • Investing.com

    Stocks - Wall Street Gains on Trade Optimism; Boeing Drags on Dow

    Investing.com – Wall Street opened higher on Monday, as upbeat rhetoric around trade continued to support sentiment in the absence of much hard news.

  • Investing.com

    Stocks - Boeing, Beyond Meat Fall Premarket; Drug Companies in Focus

    Investing.com - Stocks in focus in premarket trading on Monday:

  • Barrons.com

    Macy’s, Gap and L Brands Downgraded by Credit Suisse over ‘Tougher’ Road Ahead for Retail

    Macy’s, Gap and L Brands have all been downgraded by Credit Suisse which warned of a “tougher” road ahead for the U.S. retail sector.

  • Should Value Investors Pick Credit Suisse (CS) Right Now?
    Zacks

    Should Value Investors Pick Credit Suisse (CS) Right Now?

    Let's see if Credit Suisse (CS) stock is a good choice for value-oriented investors right now from multiple angles.