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UBS Group AG reported a quarterly earnings per share of $0.43, surpassing estimates, with revenue of $19.31 billion. The stock has a "Moderate Buy" rating from analysts, with three hold and three buy ratings. Institutional investors have varied their holdings, with Franklin Resources reducing its stake by 13.4%.
Selina Piening, now leading the business with financial intermediaries at UBS, is focused on enhancing the infrastructure to meet the needs of asset managers. With 25 years of experience in fund sales, she is poised to drive success in the UBS engine room.
Lars Windhorst, once hailed as a "wunderkind" of German business, is facing turmoil after the bankruptcy of his Flensburg shipyards, leaving workers anxious about their wages. The Financial Times highlights his tumultuous career, marked by scandals and financial mismanagement, questioning the fate of substantial investment funds linked to him. As scrutiny intensifies, Windhorst has retreated to Switzerland, where he continues to navigate a storm of controversy.
Ethena Labs has launched USDtb, a stablecoin backed by BlackRock’s BUIDL Fund, designed to maintain a 1:1 value ratio similar to USDC and USDT. With 90% of its backing from BUIDL, USDtb aims to enhance the resilience of Ethena’s existing USDe stablecoin and provide a lower-risk yield-bearing option.The stablecoin is expected to thrive in volatile markets, allowing Ethena to mitigate risks associated with negative funding rates while potentially exceeding $100 billion in total value locked. Major custodians and liquidity providers are supporting USDtb, which has passed rigorous security audits.
Calamos Advisors LLC increased its stake in Albertsons Companies, owning 1,678,613 shares valued at $33.15 million, while Bank of New York Mellon Corp raised its holdings by 38.7% to 3,426,264 shares worth $67.67 million. Hedge funds and institutional investors control 71.35% of the stock. UBS Group lowered its price target for Albertsons from $27 to $24, maintaining a "neutral" rating, while other analysts have mixed views, with a consensus rating of "Moderate Buy" and an average target price of $22.75. The company's recent earnings report showed a slight revenue increase, with a net margin of 1.25%.
Calamos Advisors LLC increased its stake in Albertsons Companies, owning 1,678,613 shares valued at $33.15 million, while Bank of New York Mellon Corp raised its holdings by 38.7% to 3,426,264 shares worth $67.67 million. Hedge funds and institutional investors own 71.35% of the stock. Analysts have mixed ratings, with a consensus "Moderate Buy" and an average target price of $22.75, despite recent price target reductions from UBS Group and Morgan Stanley.
After taking morning profits, investors are looking to buy two stocks in an oversold market. This strategy reflects a shift in market sentiment as traders seek opportunities amid current conditions.
Insiders sold 23,969 shares of East West Bancorp stock worth $2.46 million last quarter, with corporate insiders owning 1.04% of the company. Hedge funds hold 89.53% of the stock, with significant purchases from firms like Quest Partners LLC and BNP Paribas Financial Markets. Analysts maintain a "Moderate Buy" rating, with a price target averaging $109.17, while the stock recently traded at $100.33.
Insiders sold 23,969 shares of East West Bancorp stock worth $2.46 million last quarter, with corporate insiders owning 1.04% of the company. Hedge funds hold 89.53% of the stock, with significant purchases from firms like Quest Partners LLC and BNP Paribas Financial Markets. Analysts have given the company a "Moderate Buy" rating, with a price target averaging $109.17, while recent trading saw shares at $100.33.
Franklin Resources Inc. increased its stake in Popular by 304.3% in Q3, owning 99,861 shares valued at $10.04 million. Other institutional investors, including Tidal Investments LLC and Barclays PLC, also acquired stakes, with 87.27% of the stock held by such entities. Popular's stock has a "Moderate Buy" rating, with a consensus target price of $106.00, despite a recent earnings miss.
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