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☆ The US Navy's only forward-deployed aircraft carrier, USS Ronald Reagan, is leaving Japan after nearly a decade in the Pacific
▼ + stars: | 2024-05-16 | by ( Ella Sherman | Chris Panella | ) www.businessinsider.com time to read: +4 min

Read previewThe USS Ronald Reagan, the only aircraft carrier in the US Navy forward deployed, or permanently stationed in another country, is leaving Japan after spending nearly a decade in the Pacific. Related storiesIn 2021, USS Ronald Reagan briefly left its forward-deployed position to provide air support during US withdrawal operations in Afghanistan. USS Ronald Reagan traveling through the Straits of Magellan, to San Diego, CA, in a transfer move. US Navy/Photographer's Mate 3rd Class Elizabeth ThompsonThe USS Ronald Reagan already had a history of cooperation with Japan prior to its deployment. "Whether it's aboard USS Ronald Reagan today or USS George Washington in the future, we will continue to strengthen those ties at all levels, on-shore and at-sea."

Persons: —, Ronald Reagan, Ronald Reagan Sailors, Daryle Cardone, Ronald Reagan's, Reagan, Photographer's, Elizabeth Thompson, USS George Washington, George Washington, Greg Newkirk, Anthony Wallace, Gerald R Organizations: Service, US Navy, Business, Nimitz, Carrier Strike, CSG, Fleet, USS, Japan, Self, Defense Force, Navy, Aircraft, Getty, Pacific . Aircraft, US, Pacific Locations: Japan, Yokosuka, China, Afghanistan, Magellan, San Diego , CA, Bremerton , Washington, Israel, Iran, Gaza, Pacific, Russia, North Korea

Raised stakes in a firearms takeover contestA battle over Vista Outdoor, the company behind top ammunition brands like Remington and Camelbak water bottles, is escalating — and national security is becoming a bigger factor in the fight. MNC is offering $37.50 a share for all of Vista, up from a bid of $35 last month and 16 percent higher than where Vista’s stock closed on Friday. In a letter to Vista’s board reviewed by DealBook, the investment firm reiterated that it had lined up financing for its offer, despite questions by Vista about how solid those commitments were. Vista rejected MNC’s previous offer, saying a planned breakup of itself would be more valuable for shareholders. (Vista has agreed to sell its ammunition business to CSG for $1.9 billion, leaving its nonfirearm division, Revelyst, as a stand-alone public company.)

Persons: DealBook, Vista Organizations: Vista, Remington, MNC Capital, Czechoslovak, MNC, CSG Locations: U.S, Vista

☆ Dell shares soar 15% after beating earnings expectations, cites rising demand for AI servers
▼ + stars: | 2024-02-29 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Shares of Dell Technologies popped more than 15% during extended trading Thursday after the company released fourth-quarter results that beat analysts' estimates and showed strong demand for its artificial intelligence servers. The company reported net income $1.16 billion, up 89% from the $614 million it posted in the same period last year. Servers and networking revenue made up the bulk of that, with $4.9 billion in revenue driven by "AI-optimized servers." The company's Client Solutions Group (CSG) reported $11.7 billion for the quarter, down 12% year over year. For its first quarter, Dell said during its quarterly call with investors that it expects to report revenue between $21 billion and $22 billion.

Persons: LSEG, Yvonne McGill, Jeff Clarke, Dell Organizations: Dell Technologies, LSEG, Solutions, CNBC PRO

☆ Stocks making the biggest moves midday: Tesla, Disney, Alibaba, Ulta Beauty and more
▼ + stars: | 2023-12-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Ulta Beauty — The beauty stock rallied nearly 11% after posting third-quarter results that surpassed analysts' estimates. Samsara — Samsara shares popped 16% after the cloud company posted better-than-expected quarterly results and shared stronger-than-expected guidance. The chip company posted third-quarter earnings that topped Wall Street's estimates but shared weaker-than-expected guidance for the current quarter. Ambarella — Shares slipped 1% after Ambarella reported third-quarter gross margins of 62.6%, down from 63.5% in the year-ago period. Otherwise, the semiconductor design company posted quarterly results that topped estimates.

Persons: Tesla, Nelson Peltz, Alibaba, Morgan Stanley, Wells, Dell, Altimmune, Ambarella, Jefferies, Yun Li, Michelle Fox, Sarah Min, Alex Harring, Brian Evans, Jesse Pound Organizations: Disney — Disney, Trian Fund Management, Pfizer, Paramount Global, Street Journal, Paramount, Apple, Marvell Technology, Invest, Nasdaq, Dell —, LSEG, JPMorgan, Norfolk Southern, Bank of America, CSG Locations: Texas, China, Wells Fargo, Norfolk, Ohio

☆ Here are Friday's biggest analyst calls: Tesla, Boeing, Amazon, Delta, Spotify, Alibaba, Johnson & Johnson and more
▼ + stars: | 2023-12-01 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Here are the biggest calls on Wall Street on Friday: Stifel initiates Boeing at buy Stifel said it sees a "favorable" setup for Boeing shares. Citi downgrades Spotify to neutral from buy Citi said in its downgrade of Spotify that the risk/reward is less compelling. Jefferies initiates Arcos Dorados as a buy Jefferies said the Latin American McDonald's franchisee is a "consistent compounder." Jefferies initiates CSG Systems as buy Jefferies said in its initiation of the software-as-a-service company that it sees burgeoning growth. Jefferies initiates Amdocs as buy Jefferies said it sees opportunity for the Israel-based software and systems integration supplier. "

Persons: Stifel, TD Cowen, Morgan Stanley downgrades Alibaba, Morgan Stanley, it's, Alibaba, Tesla, Cantor Fitzgerald, Cantor, Jefferies, Piper Sandler, TXRH, Wells, Wells Fargo, Emerson, Oppenheimer, Goldman Sachs, Bonnie Herzog's, MarketWise, Redburn, Johnson Organizations: Boeing, Delta, Air Lines, Citi, Spotify, RBC, Western Alliance, Novo Nordisk, Arcos, American, Crescent Energy, Fortrea Holdings, ISI, Aspen Technology, Emerson, JPMorgan, Constellation Brands, Constellation, UBS, Bank of America, Norfolk Southern, of America, Norfolk, CSG Systems, Communication Service, Financial Services, Technology, Healthcare, Westinghouse, Johnson, Innovative Medicine, Pharmaceutical Locations: Europe, China, Arcos, 4Q24, reaccelerate, Aspen, Norfolk, Israel

☆ Missiles were fired toward a US Navy destroyer responding to an attempted hijacking near Yemen. The same warship was targeted in this area years ago.
▼ + stars: | 2023-11-27 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

Missiles were fired from Houthi-controlled territory toward a US Navy ship responding to an attempted hijacking on Monday. The ship, the destroyer USS Mason, was targeted by the Iran-backed rebels near Yemen a few years ago. AdvertisementMissiles were fired from Houthi-controlled territory on Monday toward a US Navy destroyer that rescued a commercial vessel from an attempted hijacking off the coast of Yemen. When the Mason arrived at the scene alongside allied ships, they demanded the release of the Central Park. The Houthis have launched drones and missiles that US Navy warships in the Red Sea have had to shoot down.

Persons: Mason, —, CENTCOM, Blake Midnight, Michael Erik Kurilla, Arleigh Burke, Dwight D, Houthi, Benjamin Netanyahu Organizations: US Navy, Service, Missiles, Central Command, Pentagon, Mason Mass, U.S . Navy, AP, Eisenhower Carrier Strike, CSG, Navy, Galaxy Leader, Houthi Military, REUTERS, Business, Hamas, Israel Defense Forces Locations: Iran, Yemen, Israel, Gulf, Aden, Somalia, Suez, Hormuz, Arabian, Red, Lebanon, Iraq, Syria

☆ Czech gunmaker Colt CZ makes offer for Vista Outdoor
▼ + stars: | 2023-11-23 | by ( Jason Hovet | ) www.reuters.com time to read: +3 min

Visitors look at firearms from Colt CZ Group at the Milipol Paris, the worldwide exhibition dedicated to homeland security and safety, in Villepinte near Paris, France, November 15, 2023. REUTERS/Sarah Meyssonnier/File Photo Acquire Licensing RightsPRAGUE, Nov 23 (Reuters) - Czech gunmaker Colt CZ Group (CZG.PR) has made a cash-and-stock merger offer to Vista Outdoor (VSTO.N), valuing the U.S. sporting and outdoor goods group's shares at a 16% premium. Colt CZ said it proposed keeping the company together, scrapping plans to separate Vista at this time. Colt CZ, along with a majority shareholder and its chairman, together acquired more than 5% of Vista shares, they announced in October. Colt CZ shares fell around 3% at the Prague open on Thursday but had recovered to trade nearly 1% higher by 1053 GMT.

Persons: Sarah Meyssonnier, Colt CZ's, Vista, Colt, Jason Hovet, Mark Potter Organizations: Colt CZ, REUTERS, Rights, Vista, Czechoslovak Group, Czechoslovak, Colt, CSG, Thomson Locations: Paris, Villepinte, France, Czech, U.S, Vista, Prague

UKRAINE DIVERSIONReuters spoke to around a half dozen Czech and Polish defence companies and government officials who described renewed efforts to carve out a bigger share of the African arms market as the Ukraine conflict diverts Russia's attention. Privately-held defence and civil manufacturing company Czechoslovak Group - the biggest Czech defence company - said its ability to maintain and modernize armoured vehicles using Soviet-era standards has helped it win business in Africa. ...in Poland where our stand was visited by numerous delegations from African countries that appeared here for the first time," WB Group spokesman Remigiusz Wilk said. The effort to supply Ukraine has pushed Czech companies to boost production and expand supply lines, something Czech-based independent defence analyst Lukas Visingr said has burnished the region's reputation. "The Czech arms industry is stepping up its efforts towards certain African countries still using Soviet-style equipment but who start to see Russia as a problematic supplier," Visingr said.

Persons: David W Cerny, Jiri Hynek, Filip Kulstrunk, Andrej Cirtek, Pieter Wezeman, Sebastian Chwalek, –, Remigiusz Wilk, Petr Fiala, Tomas Pojar, Tomas Kopecny, Kopecny, Lukas Visingr, Visingr, Michael Kahn, Anna Koper, Alex Richardson Organizations: Aero Vodochody, REUTERS, Western, Central, Russia Czech, Defence, Western NATO, Warsaw, Defence and Security Industry Association of, Reuters, Aero, Privately, Czechoslovak Group, CSG, Stockholm International Peace Research Institute, WB Group, WB, Ivory, Thomson Locations: Odolena Voda, Czech Republic, Russia, Africa, PRAGUE, WARSAW, European, Western, Czechoslovakia, Czech, UKRAINE, Polish, Ukraine, Stockholm, China, Saharan Africa, Poland's, Poland, Ethiopia, Kenya, Ghana, Prague, Mozambique

☆ Take a look at the warships of the second US Navy carrier strike group sent to keep the powder keg from blowing in the Middle East
▼ + stars: | 2023-11-07 | by ( Elias Chavez | ) www.businessinsider.com time to read: +2 min

The Dwight D. Eisenhower Carrier Strike Group is in the Middle East. It was recently operating alongside the Gerald R. Ford CSG. The two strike groups are being used in a deterrence role to keep the Israel-Hamas war from getting worse. The two US Navy strike groups were joined by two Italian Navy frigates, ITS Virginio Fasan and ITS Carlo Margottini. Here are the warships and combat capabilities of the Eisenhower strike group in the Middle East.

Persons: Dwight D, Gerald R, —, Ford, Carlo Margottini, Thomas Ishee, Eisenhower Organizations: Eisenhower Carrier Strike, Ford CSG, Service, Eisenhower, Ford, US Navy, Italian Navy, US Sixth Fleet, Israel Locations: Israel, American

☆ Vista Outdoor to sell sporting products unit in $1.91 bln deal, cuts sales forecast
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +2 min

Oct 16 (Reuters) - Vista Outdoor (VSTO.N) said on Monday it would sell its sporting products business in a $1.91 billion deal, although its shares tumbled about 20% in early trading after it cut its full-year sales forecast. The all-cash sale of the sporting products unit, which includes its guns and ammunition business, to privately held Czechoslovak Group a.s. (CSG) is expected to close next calendar year, Vista Outdoor said. Earlier this month, Vista spun off its outdoor products segment, which includes helmets and water bottles, into a separate publicly traded company called Revelyst as part of its previously announced plan. Vista said in a call with analysts and investors that the separation of its sporting and outdoor goods units will be formalized at the closing of its deal with CSG. CSG said it plans to take $1.11 billion of debt financing to fund the deal with Vista Outdoor.

Persons: Andy Keegan, Vista, Fiocchi Munizioni, Juveria Tabassum, Jason Hovet, Jan Lopatka, Savio D'Souza, Shweta Agarwal Organizations: Vista, CSG, Thomson Locations: Ukraine, Prague

☆ Dell raises full-year forecasts on AI strength, demand recovery
▼ + stars: | 2023-08-31 | by ( Zaheer Kachwala | ) www.reuters.com time to read: +2 min

The logo for Dell Technologies Inc. is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., January 10, 2019. REUTERS/Brendan McDermid Acquire Licensing RightsAug 31 (Reuters) - Dell Technologies (DELL.N) raised its full-year forecast for revenue and profit on Thursday, as it benefited from the artificial intelligence (AI) boom and stabilizing demand for computer hardware and server products after a months-long slump. "AI is already showing it's a long-term tailwind, with continued demand growth across our portfolio," Chief Operating Officer Jeff Clarke said. The company forecast third-quarter revenue between $22.5 billion and $23.5 billion beating analysts' estimates of $21.67 billion, according to Refinitiv data. Dell reported second quarter revenue and EPS above analyst estimates.

Persons: Brendan McDermid, Jeff Clarke, Dell, Mikako Kitagawa, Zaheer Kachwala, Shailesh Organizations: Dell Technologies Inc, New York Stock Exchange, REUTERS, Dell Technologies, Cisco, Nvidia, Big Tech, Dell, Revenue, Gartner, HP Inc, Thomson Locations: New York, U.S, , Texas, China, Bengaluru

☆ Top Wall Street analysts see solid potential in these five stocks
▼ + stars: | 2023-07-23 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +5 min

Bachman reiterated a buy rating on Salesforce and raised his price target to $255 from $245. DellPersonal computer makers, including Dell (DELL), have been facing significant headwinds, as the demand for desktops and laptops plunged following a pandemic-driven rush. Ho raised the price target on DELL to $60 from $48 and reiterated a buy rating. In line with his bullish stance, Rakesh increased his price target for RIVN to $30 from $27 and maintained a buy rating. Rakesh raised his price target for MBLY to $48 from $43 and reiterated a buy rating on the stock.

Persons: Mike Blake, Keith Bachman, Salesforce, Bachman, Sidney Ho, Ho, Rivian, Vijay Rakesh, Rakesh, Mobileye, bode Organizations: Reuters, BMO Capital, Service, Dell, Deutsche Bank, Solutions, Gartner, DELL, Mobileye, EV, Geely Automobile, Porsche, Volkswagen Locations: San Diego , U.S, 2H23E, Israel

☆ Indonesia confirms buying used fighter jets for $800 million after deal criticised
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +2 min

JAKARTA, June 14 (Reuters) - Indonesia confirmed on Wednesday it had bought 12 Mirage 2000-5 fighter jets previously used by Qatar, defending the nearly $800 million deal as a fast way to upgrade the air force after it was criticised by lawmakers who said the planes were too old. The defence ministry said in a statement that Indonesia had signed the deal for 733 million euros ($792 million) with Excalibur International a.s., a unit of Czech defence company Czechoslovak Group (CSG) in January. The country has long been seeking to overhaul its ageing air fleet which includes U.S.-made F-16 and Russian Sukhoi Su-27 and Su-30 jets. The country secured a deal to order 42 Rafale fighter jets for $8.1 billion in February. A planned purchase of F-15 fighter jets is also in advanced stages and awaiting final sign-off from the government, defence minister Prabowo Subianto said last year.

Persons: Tubagus Hasanuddin, Edwin Adrian Sumantha, Sukhoi Su, Prabowo Subianto, Ananda Teresia, Gayatri Suroyo, Peter Graff Organizations: Czechoslovak Group, Dassault Aviation, Indonesian Air, Thomson Locations: JAKARTA, Indonesia, Qatar, Czech, U.S, Russia, Jakarta

☆ Credit Suisse logged asset outflows of more than $68 billion during first-quarter collapse
▼ + stars: | 2023-04-24 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

In this article CSG.N-CH0I4P-GB Follow your favorite stocks CREATE FREE ACCOUNTA sign of Credit Suisse bank is seen on a branch building in Geneva, on March 15, 2023. Fabrice Coffrini | AFP | Getty Imageswatch now"In the second half of March 2023, Credit Suisse experienced significant withdrawals of cash deposits as well as non-renewal of maturing time deposits. Customer deposits declined by CHF 67 bn in 1Q23," the bank said. The acquisition is expected to be consummated by the end of this year, if possible, but the full absorption of Credit Suisse's business into UBS Group is expected to take around three to four years. UBS on Monday announced that its Group Chief Risk Officer Christian Bluhm will remain in post due to the planned acquisition of Credit Suisse, delaying a planned May 1 handover 1 to Damien Vogel, who will now take up the newly-created role of group risk control head of integration.

☆ Switzerland faced a full-scale bank run if Credit Suisse went bankrupt, Swiss regulator argues
▼ + stars: | 2023-04-05 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +7 min

It would have erased the holding company Credit Suisse Group, along with the parent bank Credit Suisse AG and its branches, while retaining the Credit Suisse (Schewiz) AG entity because of its "systemic importance." "The parent bank Credit Suisse AG would have gone under – a Swiss bank with total assets of over CHF 350 billion and ongoing business also running into many billions," Angehrn warned. Many other Swiss banks would probably have faced a run on deposits, as Credit Suisse itself did in the fourth quarter of 2022." Angehrn said the regulator has been in recent dialogue with the U.S., but did not experience international pressure in its supervision of Credit Suisse. The authorities would have risked not stopping a looming financial crisis by using the tool of resolution, but rather triggering such a financial crisis."

☆ Credit Suisse whistleblowers say Swiss bank has been helping wealthy Americans dodge U.S. taxes for years
▼ + stars: | 2023-03-29 | by ( Eamon Javers | ) www.cnbc.com time to read: +14 min

In this article CSCSG.N-CH Follow your favorite stocks CREATE FREE ACCOUNTA sign of Credit Suisse bank is seen at their headquarters in Zurich on March 20, 2023. "To date, no Credit Suisse employees involved in the scheme have faced any consequences from the United States government for their participation." "It's not a question of whether Swiss banks continue to do this, it's a question of which Swiss banks still do this." In a statement to CNBC, a Credit Suisse spokeswoman said it does not tolerate tax evasion. "DOJ must correct its lax oversight of Credit Suisse and hold Credit Suisse accountable for any violations of its plea agreement," he said.

☆ Europe's leaders battle banking crisis as market rout hangs over Brussels summit
▼ + stars: | 2023-03-24 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

Ludovic Marin | Afp | Getty Imageswatch now"The euro area banking sector is strong because we have applied the regulatory reforms agreed internationally after the Global Financial Crisis to all of them," she said, according to EU sources. Geopolitics dominated the first day of talks, but the banking turmoil ended up being the focus for Friday. In the run up to the gathering, European officials had expressed their frustration with the lack of regulatory controls in the United States, where the recent banking turmoil first emerged. They have been nervous about potential contagion to their own banking sector, mainly as it's not been that long since European banks were in the depths of the global financial crisis. "The banking sector in Europe is much stronger, because we have been through the financial crisis," Estonia Prime Minister Kaja Kallas told CNBC Thursday.

☆ 'A financial banana republic': UBS-Credit Suisse deal puts Switzerland's reputation on the line
▼ + stars: | 2023-03-21 | by ( Sam Meredith | ) www.cnbc.com time to read: +4 min

Fabrice Coffrini | Afp | Getty Imageswatch now"The Credit Suisse debacle will have serious ramifications for other Swiss financial institutions. A country-wide reputation with prudent financial management, sound regulatory oversight, and, frankly, for being somewhat dour and boring regarding investments, has been wiped away," Marenzi said. Credit Suisse traded up 3.5% during afternoon deals after ending Monday's session down a whopping 55%. Credit Suisse bond wipeoutUnder the terms of the emergency takeover, investors in Credit Suisse's additional tier-one bonds — widely regarded as a relatively risky investment — will see the value of their holdings slashed to zero. One euro was last seen trading at 0.9961 Swiss francs, weakening from 0.9810 when compared with March 14.

☆ Everyone's talking about Credit Suisse's risky bonds. Here's what they are and why they matter
▼ + stars: | 2023-03-21 | by ( Sophie Kiderlin | ) www.cnbc.com time to read: +4 min

Fabrice Coffrini | AFP | Getty ImagesAdditional tier-one bonds, AT1s, CoCos? AT1 bonds is short for additional tier-one bonds. In short, they are bank bonds that are considered a relatively risky form of junior debt, therefore coming with a higher yield and are often bought by institutional investors. watch nowHow they work and why they're riskyOne of the key attributes of AT1 bonds is that they are designed to absorb losses. Finally, AT1 bonds are callable rather than maturing at a specific point.

☆ Asia's regulators say banking system is robust and stable after UBS-Credit Suisse takeover deal
▼ + stars: | 2023-03-20 | by ( Sumathi Bala | ) www.cnbc.com time to read: +3 min

Last week, Credit Suisse logged their worst weekly decline since the onset of the coronavirus pandemic. Hong Kong says industry is resilientThe Hong Kong Monetary Authority said the city's banking sector is resilient with strong capital and liquidity positions. "The total assets of Credit Suisse, Hong Kong Branch amounted to about HK$100 billion, representing less than 0.5% of the total assets of the Hong Kong banking sector. Credit Suisse customers will continue to have full access to their accounts and "contracts with counterparties remain in force. Japan banks 'shielded'As for Japan, the country's banking system is unlikely to be affected by the deal, said Cyrus Daruwala, managing director of IDC Financial Services.

☆ This fund manager shorted Credit Suisse — and he's sticking with his bet
▼ + stars: | 2023-03-18 | by ( Ganesh Rao | ) www.cnbc.com time to read: +5 min

Barry Norris, fund manager at Argonaut Capital, said Saturday morning that he still expects Credit Suisse 's stock to become worthless. "If this happens we would expect [Credit Suisse] equity holders to get zero, deposit holders guaranteed and probably but not certain that bond holders will be made whole." Norris' Argonaut Absolute Return Fund fund delivered 11.3% in returns last year amid a year of losses for the broader stock market. Credit Suisse has had tumultuous few years, battling various scandals and controversies . Credit Suisse had invested heavily in Greensill and marketed its funds to clients, but the firm collapsed in 2021, leaving Credit Suisse and its customers with $1.7 billion in losses and reputational damage.

☆ Fail or sale? What could be next for stricken Credit Suisse
▼ + stars: | 2023-03-18 | by ( Elliot Smith | ) www.cnbc.com time to read: +6 min

In this article CSG.N-CHSBNY Follow your favorite stocks CREATE FREE ACCOUNTPeople walk by the New York headquarters of Credit Suisse on March 15, 2023 in New York City. Barry Norris, CEO of Argonaut Capital, which has a short position in Credit Suisse, stressed the importance of a smooth outcome. watch nowEuropean banking shares have suffered steep declines throughout the latest Credit Suisse saga, highlighting market concerns about the contagion effect given the sheer scale of the 167-year-old institution. At the moment, the forecaster sees the problems at Credit Suisse and SVB as "a collection of different idiosyncratic issues." "We know that for most banks, including Credit Suisse, that exposure to higher yields has largely been hedged.

Credit Suisse shares were indicated at 2.3 Swiss francs ($2.48), up 35% from Wednesday's close. The Swiss bank's announcement overnight helped stem heavy selling in financial markets in Asian trade on Thursday and European markets were heading for a bullish start to the day. Analysts at JPMorgan said in a note that a takeover was the most likely scenario for Credit Suisse, especially by rival UBS . "Credit Suisse is the first major bank, deemed too big to fail, to take up the offer of an emergency lifeline," Susannah Streeter, head of money and markets at Hargreaves Lansdown, said. "The $54 billion rescue wad is staunching worries about a bigger run on Credit Suisse and the repercussions for other institutions around the world exposed to its operations," she added.

☆ 'The weakest links are cracking': Investors consider possible Credit Suisse contagion
▼ + stars: | 2023-03-16 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

"But I would very strongly recommend sticking to high-quality companies — that means strong management, strong balance sheets, strong value proposition. Even before the shock collapse of two U.S. banks last week, Credit Suisse has been beset with problems in recent years, including money laundering charges and spying allegations. Credit Suisse management said Wednesday, however, that its latest step to secure a sizable funding deal showed "decisive action" to strengthen the business. Analysts at UBS, meanwhile, said market participants were "grappling with three interrelated but different issues: bank solvency, bank liquidity, and bank profitability." "In short, we think bank solvency fears are overdone, and most banks retain strong liquidity positions," they added.

☆ A recession could come sooner on cooling bank lending
▼ + stars: | 2023-03-15 | by ( Patti Domm | In | ) www.cnbc.com time to read: +1 min

In this article US2Y.VIXPACWFRCCSG.N-CH Follow your favorite stocks CREATE FREE ACCOUNTwatch nowStock Chart Icon Stock chart icon stx"Bear market bottoms are usually retested to ensure that the low is truly in. The rising risk of recession is now being exacerbated by the increased likelihood that banks will limit their lending," noted Sam Stovall, chief market strategist at CFRA. Treasury bonds, usually a more staid market, also traded dramatically. The 2-year Treasury yield was at 3.93% in afternoon trading, after it took a wild swing lower to 3.72%, well off its 4.22% close Tuesday. Stock Chart Icon Stock chart icon 2 y

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