Wells Fargo & Company, a prominent American banking group, has received a Buy rating from UBS. The bank's net banking product is primarily divided into retail and commercial banking (57.9%), financial and investment banking (22.9%), and profit management and brokerage services (19.2%). As of the end of 2020, it reported USD 1,404.4 billion in current deposits and USD 887.6 billion in current loans.
17:02 15.10.2024
UBS has maintained a Buy rating for The Hartford Financial Services Group, Inc., an insurance group with diverse revenue streams. The company generates 47.6% of its revenue from corporate non-life insurance, 26.6% from group insurance, 12.7% from individual non-life insurance, 4% from investment fund management, and 9.1% from other sources.
17:02 15.10.2024
The Travelers Companies, Inc. is a leading American insurance group, with business insurance accounting for 46.1% of sales, followed by personal insurance at 35.7% and financial institution indemnity insurance at 9.2%. Geographically, 94.4% of revenues come from the United States, with Canada contributing 3.5% and other regions 2.1%.
17:01 15.10.2024
Newmont Corporation, a leading gold mining company, reported net sales primarily from gold (89.7%), with 5.4 million ounces sold in 2023. The company operates 21 production sites across North America, Australia, South America, Africa, and New Guinea, with significant sales in the UK (64.7%) and other regions.
17:01 15.10.2024
UnitedHealth Group's Q3 earnings reflect the ongoing impact of the Change ransomware attack, with operational earnings of $8.7 billion, including $0.3 billion in cyberattack effects. The adjusted earnings outlook remains stable despite an estimated $0.75 per share in business disruption impacts. The medical cost ratio rose to 85.2%, influenced by Medicare funding cuts and increased specialty medication prescriptions.
German lawyer Eckart Seith, a whistleblower in the cum-ex scandal, is set to stand trial in Switzerland on December 9 for economic espionage and violations of the Banking Act. He is accused of obtaining and sharing internal documents from Bank J. Safra Sarasin with German authorities, amid ongoing tensions between Germany's tax evasion efforts and Swiss banking secrecy. Seith's case is linked to a lawsuit by billionaire Erwin Müller against the bank, which involved controversial dividend-splitting transactions that led to significant tax losses across Europe.
16:44 15.10.2024
Blackstone and Brookfield are vying for dominance in India's booming asset management sector, leveraging ties with billionaires like Mukesh Ambani. Both firms have made significant investments, with Blackstone focusing on commercial real estate and Brookfield excelling in operational efficiency. As India shifts towards renewable energy, competition intensifies, with both firms eyeing opportunities in this emerging market.
UBS AG has maintained a "Buy" rating for MTU Aero Engines, setting a target price of 320 euros following a positive forecast adjustment and strong Q3 results that surpassed market expectations in both new and spare parts business as well as commercial maintenance. On the day of the analysis, MTU shares rose by 5.2% to EUR 304.80, indicating a growth potential of 4.99% relative to the target price, with a notable 57.4% increase in share price throughout 2024. The quarterly results for Q3 2024 are anticipated on October 24, 2024.
16:38 15.10.2024
UBS AG has maintained a "Buy" rating for MTU Aero Engines, setting a target price of 320 euros after a positive analysis of the company's third-quarter performance, which surpassed market expectations in both new and spare parts, as well as commercial maintenance. The share price rose by 5.2% to EUR 304.80, indicating a potential upside of 4.99% to the target price. Since the start of 2024, MTU's shares have increased by 57.4%, with Q3 2024 financial figures expected to be released on October 24, 2024.
16:37 15.10.2024
UBS is set to revise its emergency and stabilization plans following a directive from Switzerland's banking regulator, Finma, which emphasized the need for enhanced crisis preparedness after the Credit Suisse takeover. Finma has suspended the annual assessment of these plans for 2024, citing lessons learned from the rapid deposit withdrawals during the crisis. Despite concerns over UBS's increased market dominance post-merger, Finma concluded that the union does not hinder competition in any market segment.
16:36 15.10.2024
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