James Kosan has joined UBS Wealth Management in Riverside, California, as a financial advisor specializing in comprehensive wealth management for affluent families. With a strong background in Family Office services and life transitions, he brings expertise in complex family strategies, business succession planning, and tax minimization. Kosan holds a Bachelor of Science in Business Management and has previously worked at Morgan Stanley and Merrill Lynch.
UBS has assigned Adidas a "Buy" rating with a target price of 279 euros, following the sportswear company's preliminary quarterly results. Analyst Zuzanna Pusz highlighted a surprisingly high gross margin in her initial assessment.
Liechtensteinische Landesbank (LLB) has demonstrated solid performance amid market volatility, recently issuing a 200 million Swiss franc bond to strengthen its position. Despite a slight price decline of 0.33% to EUR 75.75, the share has increased by 13.48% year-on-year, with a dividend yield of 3.75%, slightly below the industry average. The bank reported a return of 20.26% last year, significantly outperforming the financial sector average.
The top 10 AI stocks for October 2024 have been identified based on their involvement in AI as enablers, promoters, or developers. Each stock excels in at least one area, demonstrating high growth potential, with a market cap of at least $1 billion, a price above $5, and a daily trading volume of over 500,000 shares. These criteria aim to highlight stocks with strong price dynamics and earnings growth for long-term investors.
UBS has maintained a "Neutral" rating on LVMH with a target price of 660 euros following disappointing third-quarter sales, particularly in the crucial fashion and leather goods division. Analyst Zuzanna Pusz expressed concerns over the group's performance in her initial reaction.
Argus has issued "buy" ratings for several pharmaceutical stocks, including Sanofi (SNY) with a $60 price target, Gilead Sciences (GILD) at $85, and GSK at $45. The sector is projected to grow significantly, driven by oncology sales, with companies like Johnson & Johnson and Merck also highlighted for their strong pipelines and dividend yields.
Finma has mandated UBS to enhance its stabilization and contingency plans following its acquisition of Credit Suisse, citing the need for adjustments to ensure effective reorganization and liquidation of its core businesses. The authority has suspended the annual approval process and expects UBS to refine its liquidation strategy, particularly in light of lessons learned from past crises, including rapid deposit withdrawals. UBS has acknowledged the need for these improvements and has already initiated work to expand its existing plans, emphasizing its robust business model and significant loss-absorbing capacity.
FINMA has not approved UBS's emergency plan, citing the need for adjustments following the integration of Credit Suisse. While UBS has sufficient funds to cover losses, the authority demands more flexibility in crisis planning, allowing for the potential sale or bankruptcy of individual business areas. Experts emphasize the necessity for legal certainty and international cooperation among central banks to effectively manage future restructuring and financial stability.
VP Bank shares fell 0.65% to EUR 76.25 on October 15, 2024, despite offering a solid dividend yield of 5.46% with a planned distribution of EUR 5.00 per share. The stock, currently undervalued with a P/E ratio of 10.37, has seen a year-to-date loss of 16.21% but remains 43.28% above its 52-week low.
The Federal Council's report emphasizes the need for regulatory changes in Switzerland's banking sector to enhance operational flexibility during emergencies. Proposed measures include improving coordination for rescue actions, updating contingency plans, and implementing stricter liquidation requirements to ensure the stability of the financial system. UBS faces a tight deadline to revise its plans in line with rising regulatory expectations, highlighting the importance of effective crisis management and communication with supervisory authorities.