Share to Twitter Share to Linkedin Credit Suisse’s stock (NYSE: CS) has lost approximately 59% YTD, as compared to the 26% drop in the S&P500 over the same period. Further, the stock has lost almost 25% over the last ten trading days. The recent decline was after Reuters’ report on 23rd September that the bank is considering several options to overhaul the investment banking business like raising fresh capital and exiting the U.S. market. While the firm denied these claims, it has made the investors cautious about the stock. Notably, more information about the restructuring plan is likely to come with Q3 results. CS stock is currently trading around $4 per share, which is 41% below its fair value of $7 – Trefis’ estimate for Credit Suisse’s valuation . The Swiss bank missed the consensus estimates in the second quarter of 2022, with net revenues decreasing 32% y-o-y to $3.8 billion. It was driven by a 43% drop in the investment bank unit, followed … [Read more...] about Is Credit Suisse Stock Attractive At The Current Levels?
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Share to Twitter Share to Linkedin Jose Abreu has been an American League MVP and a Rookie of the Year in his nine seasons with the White Sox. He’s been an All-Star on a regular basis and won a nice collection of Silver Slugger awards. He’s on the precipice of becoming something he’s never been: Odd man out. While addressing Tony La Russa’s unsurprising retirement on Monday, General Manager Rick Hahn essentially said as much. Abreu is headed toward free agency after the season, and Hahn said “it remains to be seen” if he remains a fit for the team. This wasn’t a case of an executive blowing off steam when cornered by reporters after a horribly disappointing season. This was at a news conference called by the team, after lots of soul searching about how it barely reached 80 wins after expecting to win 90-plus in the regular season and more in October. While Hahn told reporters the Sox had “lost our offensive approach,” the team’s problems appear … [Read more...] about Could Abreu Be Odd Man Out As White Sox Open First Base For Vaughn?
Prime minister’s achievements since coming back to the office Thailand Prime minister’s The government has pledged to make human trafficking its top priority— as Thailand renewed stronger trade ties with Australia yesterday. Prime Minister Prayut Chan-o-cha met Australia’s new ambassador, Angela Jane Macdonald, at Government House yesterday discussed several options including trade opportunities between the two nations as they celebrated 70 years of diplomatic relations. Government spokesperson Anucha Buraphachaisri made it known that tackling human trafficking is one of Thailand’s top priorities. The Australian diplomat welcomed Thailand’s commitment to stamping out the trafficking of persons and said Canberra is fully behind the kingdom’s crusade. Macdonald added that Australia’s Counter Trafficking in Persons Centre of Excellence would play a key role in driving closer cooperation with their Thai counterparts. Thailand was promoted from the Tier 2 … [Read more...] about Thailand News Today | Prime minister’s achievements since coming back to the office
Share to Twitter Share to Linkedin Shopify stock (NYSE: SHOP) continues to drift lower, falling by about 10% over the past month, taking its year-to-date decline to about 80%. While a bulk of the decline in the stock came earlier this year, as investors fled growth stocks as the Fed began its monetary tightening, Shopify’s underlying e-commerce business is also taking a hit as people return to physical stores, with high inflation and rising rates also weighing on consumer confidence. Shopify posted a tough set of Q2 2022 results with revenue growth slowing to 16% year-over-year versus the 57% growth the company posted in the year-ago quarter, with the company also swinging to a net loss, versus a profit a year ago. Now, given the magnitude of the rout in Shopify stock, it’s safe to assume that much of the recovery will hinge on macros. Thus far, the Fed has also not shown signs that it will ease on its rate hikes, with the bank raising rates yet again by … [Read more...] about Down 80% This Year, What Will It Take For Shopify Stock To Recover?
Share to Twitter Share to Linkedin Topline Chechen leader Ramzan Kadyrov, a key ally of Russian President Vladimir Putin, announced Monday he is sending three of his teenage sons to fight in Ukraine, a move that could be considered a war crime and comes days after he suggested Moscow should impose martial law and use nuclear weapons in the wake of several embarrassing military defeats. Key Facts In a post on Telegram, Kadyrov said he is sending his teenage sons—ages 14, 15 and 16—to fight and “prove themselves” in battle on the Ukraine front, according to a translation from AFP. They have been trained for combat from a young age and will be sent to “the most difficult sections of the contact line,” Kadyrov said. Kadyrov, who insisted he was “not joking,” attached a video of the teenagers firing guns, rockets and heavy weapons on a range to the post. The admission could constitute acknowledgement of a potential war crime, … [Read more...] about Putin Ally Sends Teenage Sons To Fight In Ukraine—A Possible War Crime—Days After Urging Use Of Nuclear Weapons
Share to Twitter Share to Linkedin The Chicago Bulls took the NBA world by storm to start the 2021-22 season, holding the top spot in the Eastern Conference for quite some time and even sitting at 39-21 nearly three-quarters of the way through the regular season. The Bulls stumbled to the finish line, though, trudging to a 46-36 record before getting smoked by the Milwaukee Bucks in five games in the first round of the playoffs. Even so, getting to 46 wins was a major step up for Chicago after posting the worst cumulative record in the NBA in the four seasons following the Jimmy Butler trade. The Bulls dealt with a number of key health problems last season as well, so getting to that 46-win mark was still a success after adding DeMar DeRozan, Lonzo Ball and Alex Caruso last offseason. The challenge now is taking the next step. Chicago has had a rather quiet offseason in terms of additions, bringing in rookie Dalen Terry via the draft plus veterans Andre … [Read more...] about Chicago Bulls Have Plenty To Prove In 2022-23 Based On Vegas Win Totals
Share to Twitter Share to Linkedin Key takeaways The SEC slapped $1.26 million in fines on Kim Kardashian for violating anti-touting regulations Kardashian agreed to pay a $1 million fine and disgorge herself of the $250,000 received as promotional payment (plus interest) Kardashian has faced scandals over promotional posts in the past, including for touting weight loss and body shaping products The SEC’s ruling reminds investors to be wary of celebrity advice, particularly when personal profits are at play When you think of Kim Kardashian, cryptocurrency probably isn’t your first correlation. The celebrity influencer is far more famous for her namesake TV show, lavish lifestyle and celebrity branding. Until Monday rolled around, that is. The famous businesswoman came under fire by the SEC this week for posting an improperly-disclosed advertisement regarding a crypto asset, EthereumMax, last year. She agreed to pay over $1.26 million … [Read more...] about Why AI Can’t Be Fooled By Kim Kardashian’s Crypto Blunder
Representative Image In a strong market, the share price of FMCG firm Marico dropped almost 1.5 percent in trade today after the company informed that its India business posted low single-digit volume growth in the second quarter of the ongoing fiscal. At 3 PM, the company was quoting Rs 522 apiece on the National Stock Exchange, extending its drop to the fourth straight session. Follow our live blog for all the market action In an exchange filing, the company said, "With retail inflation holding firm, downtrading in rural (areas) was still prevalent during the quarter. Urban and premium discretionary segments continued to fare better." The company's flagship Parachute coconut oil recorded a low single-digit volume decline , although the brand witnessed improving trends towards the end of the quarter. Close “Consolidated revenue in the quarter grew in low single digits on a year-on-year basis,” it added. The company passed on the benefit of falling … [Read more...] about Low single-digit volume growth, weakness in rural markets drag Marico down
Share to Twitter Share to Linkedin No, it’s not that straight people failed to show up, or at least not entirely. Billy Eichner’s Twitter commentary , subjectively understandable having watched his passion project open to mostly empty auditoriums, made for solid clickbait headlines, but they miss a crucial point. When a major studio theatrical release playing in 3,350 theaters only opens to $4.854 million in its Fri-Sun weekend, that means essentially nobody showed up. I’m not going to pretend to be offended for my hetero comrades, although Eichner and director Nicholas Stoller got my money on Friday morning, natch. Nor do I think guilting/scolding audiences over not seeing your movie is an effective way to encourage post-debut legs. What happened? To paraphrase an early episode of Law & Order, Bros didn’t fail at the box office because it was a gay theatrical live-action rom-com. It died because it was a theatrical live-action rom-com that was gay. … [Read more...] about 6 Reasons Billy Eichner’s ‘Bros’ Was A Box Office Disaster
London (CNN Business) Social media speculation that Credit Suisse was on the brink of collapse sent shares of the Swiss bank on a wild ride in recent days, as investors traded off the frenzy and bought up protection in case of a default. But the hand-wringing over the global lender's fortunes appears to say more about the anxious mood hanging over markets than the bank's financial position. Analysts say that Credit Suisse ( CS ) has more than enough capital on hand to meet regulatory requirements and the liquidity necessary to deal with a potential shock. Years of scandals and fines have hurt the bank's business, but it's not about to fail. "From our perspective, looking at company financials at the end of [the second quarter], we see [Credit Suisse's] capital and liquidity position as healthy," JPMorgan Chase analyst Kian Abouhossein wrote on Monday. That doesn't mean there aren't risks. The Financial Times reported that senior … [Read more...] about Credit Suisse angst shows just how freaked out markets are right now