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UBS has raised its price target for BioMarin (BMRN) to $106 from $104, maintaining a Buy rating following a strong quarterly performance and improved guidance. The firm believes the enzyme replacement therapy business justifies the current share price and sees potential in BMN333, set to enter clinical trials in early 2025, as a key value driver for expanding indications.
UBS shares fell 1.4% to CHF 26.81, marking a decline from a 52-week high of CHF 29.57. The stock hit a low of CHF 21.30 recently, indicating a potential downside of 20.55%. The company reported CHF 10.69 billion in revenue for Q3 2024, down 25.36% from the previous year.
A Singapore court has reduced the damages UBS must pay Georgian billionaire Bidzina Ivanishvili from $743 million to $461 million. In a recent interview, Ivanishvili discussed his ongoing legal battles with Credit Suisse, which he claims have left him "de-facto" sanctioned, and expressed his reluctance to meet U.S. officials due to personal financial concerns. He indicated that he would seek a meeting with the American ambassador after the October 26 elections.
Stock futures fell ahead of a day filled with major earnings reports from tech giants like Amazon and Apple, alongside the release of the September personal consumption expenditures price index. Starbucks CEO Brian Niccol announced a strategic overhaul after the company reported a 3% drop in net sales, attributing the decline to weakened demand in the U.S. and China. In economic news, U.S. GDP grew at a 2.8% annualized rate, driven by strong consumer spending, while Microsoft and Meta reported mixed quarterly results, with Microsoft’s stock slipping over 3% despite beating earnings expectations. Former FTX executive Nishad Singh received three years of supervised release for his role in the company's fraud, significantly less than the maximum sentence he faced, highlighting his cooperation with authorities.
UBS analyst Lloyd Walmsley has raised the price target for Alphabet (GOOGL) to $192 from $187 while maintaining a Neutral rating. The firm's analysis suggests that Alphabet's upcoming results may address concerns regarding its capital expenditures and return on invested capital, although regulatory challenges and potential market share losses could limit share price growth.
The collagen supplement market, valued at $1.8 billion in 2022, is projected to grow at a CAGR of 8.2% through 2030, driven by rising health awareness and beauty trends. Pills and gummies dominated the market, while pharmacies emerged as the leading distribution channel. North America leads in demand, fueled by an aging population and a focus on natural wellness solutions.
Peloton has appointed Peter Stern, a Ford executive and cofounder of Apple Fitness+, as its new CEO, effective January 1. Stern, who has been a Peloton member since 2016, brings extensive experience in subscription services and product innovation, aiming to enhance the company's high-margin recurring revenue model. Interim co-CEO Karen Boone will remain until year-end, while Chris Bruzzo steps down from his role.
Sabine Keller-Busse, a prominent figure in Swiss banking, currently leads UBS Switzerland and is recognized for her strong leadership and engagement skills. With a background in business administration and experience at McKinsey and Credit Suisse, she has been instrumental in the integration with Credit Suisse. Married to IBM Switzerland's CEO, Christian Keller, they are regarded as a powerful couple in Switzerland, residing in Zurich with their two daughters.
TELUS Health's latest reports indicate increased stability in Canadian pension plans, with positive returns driven by strong equity and bond markets. The Pension Indices show a rise in solvency ratios, while the Performance Universe reports a median return of 6.2% for pooled fund managers, despite a slight decline compared to benchmarks. Enhanced solvency allows pension administrators to adapt more readily to new risk management guidelines from CAPSA, promoting financial wellness and stability in the labor market.
UBS has maintained a 'Buy' rating for Stellantis, setting a target price of 16 euros. Analyst Patrick Hummel noted that the car company experienced a disappointing but anticipated quarter. As of October 31, 2024, Stellantis shares were trading at approximately €12.60, reflecting a modest increase.
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BioMarin price target increased as solid quarter boosts investor confidence
12:33 31.10.2024
ubs shares decline as investors react to quarterly revenue drop
12:29 31.10.2024
ubs damages to bidzina ivanishvili reduced by 282 million dollars
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12:28 31.10.2024
stock futures decline as earnings reports and inflation data loom
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12:26 31.10.2024
ubs raises alphabet price target to 192 while maintaining neutral rating
12:18 31.10.2024
collagen supplement market poised for significant growth through 2030
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12:17 31.10.2024
peloton appoints peter stern as new ceo effective january first
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12:12 31.10.2024
sabine keller-busse rising star in swiss banking leadership and integration efforts
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12:10 31.10.2024
canadian pension plans show stability and positive returns in latest reports
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12:07 31.10.2024
ubs maintains buy rating for stellantis with target price of 16 euros
12:07 31.10.2024
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