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☆ Is meme trading back? These 4 stocks could benefit from a retail investor boom
▼ + stars: | 2024-05-15 | by ( Ganesh Rao | ) www.cnbc.com time to read: +5 min

Whether retail investors profit from their bets on GameStop and AMC Entertainment or not, one group of companies looks set to cash in from the frenzied trading: stock exchanges. So-called meme stocks, which gained popularity through social media platforms like Reddit and Twitter (or X), have attracted retail investors looking to make a quick profit. Through this new innovative offer, we will offer retail investors a true one-stop-shop experience for equity trading," he said in May 2023. "The rise of retail options trading is another secular trend we're excited to build on with more platforms coming online for index options trading later this year, giving retail investors expanded access to our products," Howson said on an earnings call to analysts this month. ICE, which owns the New York Stock Exchange and several other exchanges, offers trading in stocks, bonds, commodities, currencies and derivatives.

Persons: Eric Leupold, Deutsche Boerse, Benjamin Goy, Stéphane Boujna, FactSet, David Howson, Howson, Oppenheimer, Hannah Gooch, Peters, Marco Iachini , Organizations: GameStop, AMC Entertainment, Twitter, Deutsche Borse AG Deutsche Börse, Frankfurt Stock Exchange, Corona, Deutsche Börse, DB1, Deutsche Bank, Global Equity, Cboe, Wall Street, Intercontinental Exchange, Sanlam Investments, ICE, New York Stock Exchange, Vanda Locations: Germany, U.S, Switzerland, Italy, Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo, Paris, France, Portugal, Europe

☆ UBS posts large loss on costs of Credit Suisse takeover
▼ + stars: | 2023-11-07 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —UBS made a hefty loss in the first full quarter since it closed a deal to rescue its stricken rival Credit Suisse, even as the bank attracted billions of dollars in new deposits from customers. UBS (UBS) saw $22 billion of net new money flow into its global wealth management business, as it gained new clients and won back assets from those who had pulled funds immediately after the takeover. That figure includes flows into Credit Suisse’s wealth management unit, which turned positive for the first time in 18 months. Across the group as a whole, UBS attracted net new deposits of $33 billion, with two-thirds of that coming from legacy Credit Suisse clients. CEO Sergio Ermotti was brought back to helm UBS through its takeover of Credit Suisse within days of the Swiss government-orchestrated deal being announced.

Persons: Sergio Ermotti, ” Ermotti, ” “, Benjamin Goy, Sharath Kumar, ” Organizations: London CNN, UBS, Credit Suisse, Swiss, ” “ UBS, Deutsche Bank Locations: Zurich, Swiss

GENEVA (AP) — UBS reported Tuesday a $255 million pre-tax loss as the giant Swiss bank shed some 4,000 jobs globally, cut costs faster than expected, and reaped billions in asset inflows in the third quarter while moving forward with its government-orchestrated merger with rival Credit Suisse. The Zurich-based bank said underlying profit before taxes came in at $884 million in the first full quarter since the merger was completed in June. Government authorities in Bern shepherded through the deal with bank chiefs to stave off a collapse of Credit Suisse and avert a financial crisis. UBS tallied $33 billion in net new deposits in its wealth management and personal and corporate banking segments, two-thirds of that from Credit Suisse clients. Political Cartoons View All 1234 Images“We are executing on the integration of Credit Suisse at pace and have delivered underlying profitability for the group in the first full quarter since the acquisition," UBS chief executive Sergio Ermotti said in a statement.

Persons: —, Sergio Ermotti, Benjamin Goy, Sharath Kumar, ” Organizations: GENEVA, — UBS, Credit Suisse, The, UBS, Six Swiss, Deutsche Bank, ” UBS Locations: Swiss, The Zurich, Bern shepherded, Zurich

☆ A 'historic' result but still a 'construction site': Analysts react to blowout UBS earnings
▼ + stars: | 2023-08-31 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Swiss authorities brokered the controversial emergency rescue of Credit Suisse by UBS for 3 billion Swiss francs ($3.37 billion) over the course of a weekend in March. Fabrice Coffrini | AFP | Getty ImagesUBS shares rallied to 15-year highs on the back of what analysts branded a "historic" earnings report, though Deutsche Bank said the Swiss banking giant may remain a "construction site" for some time. UBS also announced that it will fully integrate Credit Suisse's Swiss banking unit, a key profit center, in 2024. Notably, UBS highlighted that the massive net asset and deposit outflows seen by Credit Suisse over the last year have finally begun to reverse, and turned positive in June. "It's difficult to combine a blowout result like that and then to announce layoffs at the same time.

Persons: Fabrice Coffrini, Benjamin Goy, Sharath Kumar, Bruno Verstraete, Verstraete Organizations: Credit Suisse, UBS, AFP, Getty, Deutsche Bank, Swiss, Credit, midafternoon, Lakefield Partners, CNBC Locations: Swiss, Zurich, 2Q23, Switzerland

☆ After Credit Suisse takeover, UBS gives first glimpse of new group
▼ + stars: | 2023-08-29 | by ( Noele Illien | ) www.reuters.com time to read: +5 min

Credit Suisse has already flagged that it expects to post a hefty loss for 2023. Rich clients often kept accounts at both UBS and Credit Suisse, so as not to place all their eggs in one basket. In previous quarters, UBS had reported significant inflows, as it benefited from Credit Suisse clients looking for safer alternatives. SWISS BANK'S FUTUREMany bank watchers are waiting to see what UBS does with Credit Suisse's "crown jewel" - its Swiss arm. The huge figure largely reflects a one-off boost to the bottom line from UBS buying Credit Suisse for a fraction of its value.

Persons: Ralph Hamers, Sergio Ermotti, Colm Kelleher, Stefan Wermuth, Rich, Benjamin Goy, Ermotti, Keefe, Thomas Hallett, Noele, John O'Donnell, Tomasz Janowski Organizations: UBS Group AG, UBS, REUTERS, Rights, Credit Suisse, SUISSE, Suisse's, Swiss, Deutsche Bank, UBS's, CORE UNIT UBS, Suisse, Thomson Locations: Zurich, Switzerland, SWISS, Swiss, Woods

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