‘Inundated with requests’: Digital currency firms look to Swiss banks after crypto-friendly lenders fail

Switzerland has created what they dub “Crypto Valley” in the region of Zug. Nurphoto | Nurphoto | Getty Images Crypto firms are scrambling to find institutions to bank with after the collapse of Signature Bank and Silvergate Capital, two lenders that were friendly to digital currency companies. Some of these companies have turned to crypto-friendly … Read more

Stocks making the biggest moves midday: Tesla, First Republic, KeyCorp, UBS and more

Image taken with a drone) A Tesla collision center is seen in this aerial view in Orlando. Paul Hennessy | Lightrocket | Getty Images Check out the companies making headlines in midday trading Tuesday. Tesla — Shares popped 5% after Moody’s upgraded Tesla to Baa3 rating from its junk-rated credit. Moody’s called the electric-vehicle maker the … Read more

Everyone’s talking about Credit Suisse’s risky bonds. Here’s what they are and why they matter

In the aftermath of Credit Suisse‘s takeover by UBS, many investors lost out. But one group felt particularly left behind after their investments: AT1 bond holders, who saw their 16 billion Swiss francs ($17 billion) worth of assets wiped out. AT1 bonds would be written to zero as part of the deal between Credit Suisse … Read more

Credit Suisse bondholders prepare lawsuit after contentious $17 billion writedown

A sign of Credit Suisse bank is seen at their headquarters in Zurich on March 20, 2023. Fabrice Coffrini | AFP | Getty Images A number of Credit Suisse bondholders said Tuesday that they were considering legal action after $17 billion of the bank’s additional tier-one (AT1) bonds were wiped out as part of its … Read more

Stocks making the biggest premarket moves: Tesla, First Republic, UBS, Foot Locker and more

A vehicle charges a Tesla Supercharging station in Corte Madera, California, US, on Thursday, March 2, 2023. David Paul Morris | Bloomberg | Getty Images Check out the companies making the biggest moves in premarket trading: Tesla — The electric vehicle maker rose 2% after Moody’s assigned it a Baa3 rating and removed its junk-rated … Read more

Goldman’s Oppenheimer says stocks will stay ‘fat and flat’ — and reveals how to trade it

A potential crisis in the global banking sector may have been averted over the weekend, as Swiss authorities stepped in to broker a deal for UBS to acquire embattled Credit Suisse . But stock markets are not out of woods yet, according to Goldman Sachs Chief Global Equity Strategist Peter Oppenheimer. He believes contagion fears … Read more

Stocks making the biggest moves midday: First Republic, UBS, Virgin Orbit, Dell and more

A person walks past a First Republic Bank branch in Midtown Manhattan in New York City, New York, U.S., March 13, 2023.  Mike Segar | Reuters Check out the companies making the biggest moves midday: First Republic — Shares tanked nearly 30% after Standard & Poor’s cut First Republic’s credit rating to B+ from BB+. … Read more

Top 10 things to watch in the stock market Monday: Banks, Nvidia, Starbucks

Top 10 things to watch Monday, March 20 1. Wall Street looks steady to start the week and ahead of the Fed’s post-meeting interest rate decision Wednesday afternoon. The market puts about 60% odds on a quarter-point rate hike and 40% odds on no hike as policymakers watch of the unfolding banking struggles. Here are … Read more

The $17 billion wipeout of Credit Suisse bondholders has not gone down well in Europe

Credit Suisse’s additional tier one bonds are set to be wiped out following the struggling bank’s takeover by UBS. Photographer: Pascal Mora/Bloomberg via Getty Images One section of Credit Suisse’s bondholders is set to be wiped out following the struggling bank’s takeover by UBS, causing them to see investments worth 16 billion Swiss Francs ($17 … Read more

Here are Monday’s biggest analyst calls: UBS, Netflix, First Republic, Carnival, Meta, Amazon & more

Here are Monday’s biggest calls on Wall Street: Baird upgrades US Bancorp to overweight from neutral Baird said the risk/reward is “very attractive” for the regional bank stock. “Regional bank risk/reward trade-off remains very attractive, in our view, upgrading USB to Outperform, market pricing in permanent destruction in ROAs (return on assets).” Read more about … Read more