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big banks report stronger than expected profits boosting market confidence

Big banks reported third-quarter profits exceeding analyst expectations, with Goldman Sachs' profit soaring 45% to $3 billion, while Bank of America and Citigroup saw smaller declines of 12% and 9%, respectively. Strong performances in trading and investment banking bolstered their results, reflecting confidence in the robust economy and stock market. Consequently, shares of these banks surged, with Goldman Sachs leading the year with a 38% gain.
Finimize
United States Dollar The Goldman Sachs Group, Inc. Bank of America Corporation Citigroup Inc. USA Berkshire Hathaway Warren Buffet Oracle Show more
TradFi, Market Report
17:43 15.10.2024

ubs faces pressure to enhance emergency plans after credit suisse crisis

UBS is required to enhance its emergency and stabilization plans following the integration of Credit Suisse, as determined by the Swiss Financial Market Supervisory Authority (FINMA). The current strategy, which focuses solely on reorganization, must be expanded to include options for potential insolvency and the ability to sell parts of the bank without risking systemic stability. New regulations are anticipated, but parliamentary discussions will await the investigation report on the Credit Suisse crisis, expected by year-end.
FAZ.NET
United States Dollar Credit Suisse Anlagestiftung UBS SA CHE Stefan Walter Joe Biden
TradFi, News Article
17:32 15.10.2024

pharmaceutical sector sees resurgence in mergers and acquisitions in 2023

In 2023, the Life Sciences sector saw a resurgence in mergers and acquisitions, with M&A investments reaching $191 billion, a 40% increase from 2022. Despite a 6% decline in transaction volume to 118 deals, major pharmaceutical companies dominated, accounting for 69% of the total investments. This trend reflects a strategic shift towards ambitious growth initiatives amid revenue pressures and the impending loss of exclusivity for key drugs.
EYNews
United States Dollar Seagen Inc. Pfizer Inc. USA Seagen Pfizer
Finance & Economy, Market Report
17:20 15.10.2024

big banks rebound as optimism grows for economic recovery and dealmaking

Big banks experienced a significant rebound in the third quarter, driven by increased corporate confidence in issuing debt and pursuing mergers. Goldman Sachs reported a 20% rise in investment banking fees, while Bank of America achieved record trading revenue. Despite overall profit declines for some banks, optimism remains, bolstered by the Federal Reserve's interest rate cuts, though geopolitical uncertainties and the upcoming U.S. presidential election pose potential risks.
@YahooFinance
United States Dollar JPMorgan Chase & Co. The Goldman Sachs Group, Inc. Bank of America Corporation Morgan Stanley Citigroup Inc. USA Jane Fraser Brian Moynihan David Solomon Mark Mason Show more
TradFi, Market Report
17:12 15.10.2024

deutsche bank appoints aly alibhai as head of north american mergers and acquisitions

Deutsche Bank AG has appointed Aly Alibhai, a media and entertainment banker from UBS Group AG, as the head of North American mergers and acquisitions. Alibhai will be based in New York and is expected to join the German lender after a period of leave.
Bloomberg.com
Deutsche Bank Aktiengesellschaft UBS Group AG DEU Aly Alibhai
TradFi, News Article
17:07 15.10.2024

Wallbox N.V. develops innovative electric vehicle charging solutions globally

Wallbox N.V., formerly Wallbox BV, is a Spain-based holding company focused on developing technology solutions for the automotive sector, particularly in electric vehicle charging and energy management. Its product lineup includes the Quasar bidirectional DC charger for home use, as well as Supernova and Hypernova fast chargers for public use, alongside various AC charging solutions and intelligent energy management software. The company operates across Europe, Asia, and the Americas and holds stakes in subsidiaries like Kensington Capital Acquisition Corp II and Wall Box Chargers SL.
MarketScreener
United States Dollar Kensington Capital Acquisition Corp II Wallbox N.V. Wall Box Chargers SL ESP Show more
TradFi, Market Report
17:03 15.10.2024

aig receives buy rating as leading insurer dominates commercial market

American International Group, Inc. has received a Buy rating from UBS. As the world's leading insurer, the company generates 98.5% of its revenue from insurance, with 56.7% from non-life products and 43.3% from life and annuity products. North America represents 71.7% of its total revenues.
MarketScreener
United States Dollar American International Group, Inc. USA
TradFi, Market Report
17:03 15.10.2024

Philip Morris International reports significant cigarette and heated tobacco sales in 2023

Philip Morris International, Inc. is one of the largest manufacturers of cigarettes and tobacco products globally, selling 612.9 billion cigarettes and 125.3 billion heated tobacco units in 2023. The company operates over 50 production sites worldwide, with revenue distribution across various regions: 6% in the Americas, 42% in Europe, 32.8% in South and Southeast Asia, the CIS, the Middle East, and Africa, and 19.2% in East Asia and Australia.
MarketScreener
United States Dollar Philip Morris International Inc. USA Show more
TradFi, Market Report
17:03 15.10.2024

air products and chemicals receives neutral rating from UBS analysts

Air Products & Chemicals, Inc. focuses on the development, production, and marketing of gases across four main product families: bulk gases, tonnage gases, performance chemicals, and cryogenic and gas processing plants. The company serves various industries, including metals, glass, healthcare, and petrochemicals, with net sales distributed as 41.5% in the United States, 15.8% in China, and 42.7% in other regions.
MarketScreener
United States Dollar Air Products and Chemicals, Inc. CHN USA Show more
TradFi, Market Report
17:03 15.10.2024

ubs maintains buy rating on w r berkley corporation insurance and reinsurance

W.R. Berkley Corporation operates primarily in insurance, accounting for 87.4% of its net written premiums, offering non-life and life insurance products. The company also engages in reinsurance, which constitutes 12.6% of its business, serving markets in the U.S., U.K., Europe, Australia, Asia-Pacific, and South Africa. UBS has reiterated its Buy recommendation for the company.
MarketScreener
United States Dollar W. R. Berkley Corporation ZAF AUS USA GBR Show more
TradFi, Market Report
17:02 15.10.2024
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