Credit Suisse AT1 bondholders are facing a prolonged wait for a decision on their claims, with a ruling on the legality of the CHF 80 million damages lawsuit against Switzerland not expected until February 2025. The case stems from the Swiss Financial Market Supervisory Authority's controversial write-off of the bonds after the bank's collapse. Legal representation for Switzerland is led by prominent litigator William Savitt in a New York Federal Court.
09:00 18.10.2024
Big bank stocks are on the rise as net interest income (NII) shows signs of improvement with the normalization of the yield curve. While major banks like Wells Fargo and Bank of America reported declines in NII, they experienced growth in wealth management and investment banking revenues, driven by strong market performance. Analysts suggest that Bank of America and Wells Fargo present more attractive valuations compared to JPMorgan, which trades at a higher price-to-tangible book value.
09:00 18.10.2024
U.S. equity funds attracted $20.08 billion in net inflows for the week ending October 16, driven by strong bank earnings and optimism over a potential Federal Reserve rate cut. The financial sector saw the highest inflows in three months at $1.17 billion, while bond funds received $9.78 billion, marking their largest weekly inflow in the same period. Conversely, money market funds experienced $11.79 billion in net sales, the first outflow in four weeks.
09:00 18.10.2024
Netflix's quarterly results show strong demand for its shares, driven by subscriptions with advertising, which accounted for over half of new customers. The company gained 5.1 million streaming subscribers, surpassing estimates, while adjusted earnings reached USD 5.40. Investors are eyeing a record high of USD 736, with potential profit-taking on the horizon as market conditions evolve.
IG
09:00 18.10.2024
EssilorLuxottica reported third-quarter 2024 sales of €6,437 million, falling 2% short of forecasts, with a constant exchange rate growth of 4.0%. UBS maintains a Buy rating with a price target of €232, citing a strong start to the quarter and reassuring fourth-quarter forecasts despite a challenging environment. Concerns about margin expansion in the latter half of 2024 have been raised.
09:00 18.10.2024
Intuitive Surgical (ISRG) is experiencing financial growth driven by its AI-powered Da Vinci systems, amidst a competitive healthcare landscape. The medical industry is projected to grow significantly, with hospitals expected to reach $2 trillion by 2028 and pharmaceutical manufacturing forecasted to surge to $1.2 trillion by 2030. Notable companies like Pfizer and Moderna have seen substantial stock gains, highlighting the lucrative opportunities within this sector.
The global Metaverse in Healthcare market, valued at $6.57 billion in 2022, is projected to reach $71.65 billion by 2030, growing at a CAGR of 35.4%. Key drivers include the rising adoption of mixed reality in surgeries and medical training, alongside significant investments in digital healthcare platforms. North America leads the market, facing challenges such as data privacy concerns and high costs of advanced technologies.
Sustainability is increasingly prioritized in the healthcare sector, with governments pushing for improvements in alignment with net zero targets. Major medical device manufacturers are working to reduce their environmental impact, yet challenges, particularly regarding Scope 3 emissions, persist in implementing effective sustainability measures.
DocMorris shares are under pressure as UBS has lowered its price target from 27 to 25 francs, maintaining a "sell" rating after the company's latest quarterly figures fell short of expectations. On October 17, 2024, shares traded at CHF 31.24, reflecting a 1.3 percent decline, indicating investor skepticism and potential short-term challenges. A recent analysis highlights an urgent need for action among shareholders, prompting questions about whether to buy or sell.
08:57 18.10.2024
Carmignac has appointed six new members to its Board of Directors, including former UBS executive Paolo Federici, who previously led UBS Global Wealth Management in Italy. Other notable appointees include Alexander Leisten, Habib Achkar, Pascale Guillier, Rose Ouahba, and Christophe Peronin, enhancing the firm's leadership and expertise.
08:49 18.10.2024
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