UBS analyst Jay Sole has raised Nordstrom's price target to $14.50 from $13 while maintaining a Sell rating. The firm anticipates ongoing challenges for Nordstrom against off-price retailers and direct-to-consumer brands, which may lead to further share losses and downward EPS revisions in the coming years.
13:10 27.11.2024
Aroundtown SA, a Luxembourg-based real estate firm, focuses on income-generating commercial and residential properties primarily in Germany and the Netherlands. The company also has a stake in Grand City Properties SA, which targets opportunities in the German residential market, particularly in cities like Berlin and Munich. Its subsidiaries include AT Securities BV, ATF Netherlands BV, and Camelbay Ltd.
13:10 27.11.2024
UBS has maintained a "Neutral" rating for Aroundtown, setting a target price of 2 euros following the release of the company's nine-month figures. Analyst Charles Boissier noted that the results exceeded market expectations, particularly in terms of earnings.
13:10 27.11.2024
UBS has lowered its price target for Guess (GES) to $16 from $18 while maintaining a Neutral rating. The adjustment follows a Q3 sales miss and a downward revision for FY25, highlighting ongoing challenges in retail, negative comp sales in the Americas and Asia, and foreign exchange headwinds. Analysts express skepticism about the company's ability to deliver near-term EPS surprises that could lead to stock outperformance.
13:10 27.11.2024
JPMorgan projects the S&P 500 will reach 6,500 by 2025, driven by advancements in artificial intelligence and a favorable regulatory environment. This optimistic forecast highlights the potential for significant market growth in the coming years.
Diego Megia's Taula Capital Management is set to reopen its hedge fund to raise an additional $1 billion, following a successful $5 billion launch earlier this year. The new capital is expected to be sourced from existing investors between December and March.
UBS has been acquitted in a significant money laundering case involving Credit Suisse and a Bulgarian drug gang. The Swiss Federal Criminal Court found that the allegations against UBS could not proceed due to the death of a key employee, who had been convicted of laundering money for the gang. This ruling marks a pivotal moment in the Swiss judiciary's approach to banking accountability, although the decision may still be appealed to the Federal Supreme Court.
13:05 27.11.2024
The Federal Criminal Court has acquitted UBS in the Bulgaria case, previously associated with Credit Suisse, and reduced the sentences for two defendants. The original case involved a fine for inadequate monitoring of banking relationships with the Bulgarian mafia and non-compliance with anti-money laundering regulations from 2007 to 2008. The two defendants, a former banker and a mafia confidant, received reduced prison sentences.
Nau
13:00 27.11.2024
Homebuyer demand for mortgages surged 12% following a drop in interest rates, with total mortgage applications rising 6.3% week-over-week. The average rate for 30-year fixed mortgages fell to 6.86%, while purchase applications were up 52% compared to last year, reflecting pent-up demand amid improved housing supply. Refinance applications dipped 3% but remained significantly higher than a year ago, influenced by a decrease in FHA and VA refinances.
US mortgage applications for home purchases surged 12.4% in the week ending November 22, reaching the highest level since February. This increase was driven by a slight dip in borrowing costs and a larger selection of homes available on the market. However, the data may experience significant fluctuations around holiday periods.
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