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TOP STOCKS TO WATCH FOR THE WEEK OF OCTOBER 17, 2022 | APPLE, NVIDIA, NETFLIX and TESLA!
This video covers earnings this week, QQQ, SPY, IWM, Apple, Nvidia, Netflix and Tesla.
Boiler Room: The Official Stock Market Discussion
TOP STOCKS TO WATCH FOR THE WEEK OF OCTOBER 17, 2022 | APPLE, NVIDIA, NETFLIX and TESLA!
This video covers earnings this week, QQQ, SPY, IWM, Apple, Nvidia, Netflix and Tesla.
Leggo
Big banks finish up on Monday and Tuesday. We already know quite a few saw a drop in revenue.
Should be interesting to see how the market responds to TSLA and NFLX.
Hearing form Albertsons, Goldman Sach, AMEX could be interesting.
Remember AMEX represents the more the affluent.
Big banks finish up on Monday and Tuesday. We already know quite a few saw a drop in revenue.
Should be interesting to see how the market responds to TSLA and NFLX.
Hearing form Albertsons, Goldman Sach, AMEX could be interesting.
Remember AMEX represents the more the affluent.
BoA kicking today off beat estimates. Market looks green:
www.cnbc.com
Bank of America tops estimates on better-than-expected bond trading, higher interest rates
Bank of America said U.S. consumers have "remained resilient with strong, although slower growing, spending levels" and elevated deposits.
We’re technically set up for a big plunge, just need one more fake rally before the next big negative catalyst sends this thing to hades.
Thoughts on this:
humminbird
Veteran
I don’t put too much technicals on the vix but it were an equity, it’s absolutely closer to breaking out than breaking down
I think CS reports this week as wellCredit Suisse prepares Swiss business sales to raise capital
Lender is due to present plans for a radical strategic revamp and swingeing job cutswww.ft.com
Credit Suisse prepares Swiss business sales to raise capital
Lender is due to present plans for a radical strategic revamp and swingeing job cuts
Owen Walker, European Banking Correspondent
5 HOURS AGO
Credit Suisse is preparing to sell parts of its Swiss domestic bank as it attempts to close a capital hole of around SFr4.5bn, according to people briefed on the discussions.
With less than two weeks until the lender is due to present plans for a radical strategic revamp, executives are also in the final stages of plotting a heavy round of job cuts, which could affect up to 6,000 of the group’s 50,000 global employees.
Ulrich Körner was installed as Credit Suisse chief executive over the summer with a mandate to strip back the beleaguered Swiss lender’s accident-prone investment bank and find SFr1.5bn of cost savings, following a succession of scandals in recent years that has seen the group’s share price hit record lows.
Though most attention so far has focused on disposals from the Swiss lender’s investment bank — with executives confident of selling all or part of the profitable securitised products business — the board has also turned its attention to raising funds by selling non-core parts of its domestic business, known as the Swiss Universal Bank.
While the main domestic operation — which offers a range of corporate, private and retail banking services in Switzerland — will remain intact, the company is negotiating the sale of several subsidiaries and stakes in other businesses.
The parts that have been considered for sale include: a stake in the SIX Group, which runs the Zurich stock exchange; an 8.6 per cent holding in Allfunds, a listed Spanish investment company; two specialist Swiss banks, Pfandbriefbank and Bank-Now; and Swisscard, a joint venture with American Express.
Credit Suisse has held a stake in Allfunds since 2019 and the business listed last year with a market capitalisation of €7.2bn. Since then, its shares have fallen by half, meaning Credit Suisse’s 8.6 per cent stake is worth around SFr374mn.
The bank is also trying to sell a landmark property, the two-century-old Savoy, Zurich’s oldest grand hotel, which faces the bank’s headquarters in Paradeplatz.
The luxury hotel, which is being refurbished and is due to reopen in 2024, could be worth SFr500mn, according to people within the bank.
The board has ruled out disposals from Credit Suisse’s asset management and private banking businesses, according to people with knowledge of the plans, though it will continue to exit small, unprofitable markets. Credit Suisse this year has already pulled back its Mexican and sub-Saharan African wealth management operations.
Analysts have debated the size of the capital hole that will result from the changes the bank is pushing through, with Goldman Sachs this week putting the figure at SFr8bn.
But the bank’s board is confident it will be around SFr4bn to SFr4.5bn, after taking restructuring and legal costs into account, according to people familiar with the plans.
The bank’s board and executive team have been assessing each part of the business on three main criteria: profitability, capital needs and importance to the wealth management business.
The New York-based securitised products business has been assessed as requiring too much capital and having little overlap with the wealth business, which will become the bank’s core focus after the strategic review. The unit’s profitability has made it an easier business to sell.
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ExplainerCredit Suisse Group AG
How big is the capital hole at Credit Suisse?
People involved in discussions over the unit said they were confident of agreeing a sale by October 27 and were considering bids from several suitors, which ranged from buying the whole division to parts of it.
They confirmed there had been interest from US investors Apollo Global Management, Pimco, Sixth Street Partners and Centerbridge Partners, as well as Japanese bank Mizuho Financial Group, which had previously been reported by Bloomberg and the Wall Street Journal.
JPMorgan analyst Kian Abouhossein upgraded his recommendation on Credit Suisse from underweight to neutral last week, saying he expected the securitised products business to be sold.
The unit, he forecast, would produce SFr1.2bn of revenue in 2024, meaning its pre-tax profit of SFr400mn would account for the lion’s share of the investment bank’s total SFr700mn of profit.
Credit Suisse declined to comment, saying it would provide a full update on the strategic plan on October 27.
I find segments from yahoo finance to be a lot more digestible than CNBC.
There's almost like a sense of calmness when they describe the market.
Whereas, CNBC just feels like a notch below FOX business, with the way they cover every topic.
For those interested:
There's almost like a sense of calmness when they describe the market.
Whereas, CNBC just feels like a notch below FOX business, with the way they cover every topic.
For those interested:
Market looks sets to rally. I can't really think of any real catalyst until Nov 2-3(FOMC), that will tank the market.
However I think the fun just began:
This next rally may be a good idea to trim so more profits.
However I think the fun just began:
This next rally may be a good idea to trim so more profits.