JPMorgan Chase & Co. JPM, +0.57% CEO Jamie Dimon is working to raise additional capital for First Republic Bank FRC, -31.50%, The Wall Street Journal reported at midday. Citing sources familiar with the situation, the WSJ said Dimon is leading banks in a fresh campaign to shore up First...
Fed-funds futures traders are pricing in a scenario in which Federal Reserve policy makers look past banking-sector developments to some extent, and keep hiking interest rates through May. A 73% chance of a quarter-of-a-percentage-point rate hike for Wednesday was seen, up from 62% on Friday — which would take...
Wedbush on Monday upgraded New York Community Bancorp Inc. NYCB, -4.66% to outperform from neutral based on its expected earnings boost from its acquisition of Signature Bank’s loan and deposit portfolio, as announced by the Federal Deposit Insurance Corp. (FDIC). New York Community Bancorp is rallying 30% in premarket...
Credit Suisse shares dropped as much as 65% in early trade Monday after the Swiss bank agreed to be taken over by its rival UBS at a steep discount. The decline in Credit Suisse’s shares CSGN, -60.54% CS, -6.94% mostly reflected the 59% discount it agreed to take in...
The Federal Reserve and a quintet of global central banks on Sunday announced a coordinated effort to ease a fast-growing banking crisis, in the hours after UBS, -5.50% announced a historic, emergency merger with troubled Credit Suisse CS, -6.94%. The central bank, including the Bank of Japan, Bank of...
U.S. stock-index futures opened with modest gains Sunday evening as investors assessed a historic deal to rescue troubled Swiss lender Credit Suisse, the latest maneuver by authorities attempting to prevent a deeper loss of confidence in the global banking system. Swiss bank UBS Group UBS, -5.50% agreed to...
U.S. and European officials were quick to praise Swiss authorities for helping hammer out UBS’s UBS, -5.50% UBSG, -1.16% $3.25 billion deal to buy embattled rival Credit Suisse AG CS, -6.94% CSGN, -8.01% that was announced on Sunday. “We welcome the announcements by the Swiss authorities today to...
Bitcoin surged on Sunday night after the announcement that UBS will buy Credit Suisse, setting the stage for a potential risk-on rally. Bitcoin BTCUSD, +3.24% recently was trading at $28,255, up some $842. The cryptocurrency is now 74% from its lows of Nov. 21. This article was originally published...
Credit Suisse shares slumped again on Friday, as the Swiss bank struggles to convince investors that a series of moves will restore its finances. By afternoon trade in Zurich, Credit Suisse’s stock CSGN, -8.01% CS, -6.94% dropped by another 7%. Its stock has dropped 26% this week, marking the...
Shares of XPeng Inc. XPEV, +6.12% dropped 2.8%% in premarket trading Friday, after the China-based electric vehicle maker reported fourth-quarter losses that were wider than expected, revenue that fell short of forecasts and provided a downbeat outlook, but assured sales and market share will resume growth as the company...
