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The Latest Breaking News from Credit Suisse

Credit Suisse fined over drugs gang money laundering

Zurich (AFP) - Credit Suisse, Switzerland's second-biggest bank, which has been rocked by a series of scandals, was slapped with a $2-million-fine Monday in a money laundering case linked to a Bulgarian cocaine network.

AFP

Credit Suisse faces verdict in cocaine-cash trial

Swiss judges are set to rule on Monday whether Credit Suisse failed to prevent money laundering linked to an alleged cocaine trafficking gang in Switzerland's first criminal trial of one of its major banks.

Reuters

Nike Earnings Top Views But Dow Giant Falls On Guidance

Nike earnings and sales edged lower but topped fiscal Q4 views. But NKE stock fell as the Dow giant said a strong dollar will hit sales.

Investors Business Daily

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Read How Analysts Reacted To Darden Restaurants' Q4 Results

Wedbush analyst Nick Setyan lowered the price target on Darden Restaurants Inc (NYSE:DRI) to $122 (3% upside) from $140 and kept a Neutral rating on the shares. The analyst noted that FY23 guidance is predicated on normalization in inflation trends in the second half and has lowered his FY23 EPS estimate to $7.60 from $8.41…

Benzinga

Here's Why Credit Suisse Sees Tesla Triumph Amid Odds

Credit Suisse analyst Dan Levy maintained Tesla Inc (NASDAQ:TSLA) with an Outperform and cut the price target from $1,125 to $1,000 (37% upside). Levy expected Tesla's 2Q deliveries of 242,000, missing the consensus of ~280,000 due to the Shanghai COVID shutdown. Moreover, given the lower delivery outlook, the associated margin impact, and an expected Bitcoin impairment, he…

Benzinga

Credit Suisse Maintains Outperform Rating for PayPal Holdings: Here's What You Need To Know

Credit Suisse has decided to maintain its Outperform rating of PayPal Holdings (NASDAQ:PYPL) and lower its price target from $100.00 to $95.00. Shares of PayPal Holdings are trading up 1.2% over the last 24 hours, at $73.24 per share.

Benzinga

10 Biggest Price Target Changes For Wednesday: Verizon, PayPal, Kellogg, Dow, Bed Bath & Beyond, Booking And More

RBC Capital cut Verizon Communications Inc. (NYSE: VZ) price target from $57 to $54. Verizon shares fell 0.9% to $50.22 in pre-market trading.

Benzinga

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Credit Suisse Maintains Outperform Rating for Entergy: Here's What You Need To Know

Credit Suisse has decided to maintain its Outperform rating of Entergy (NYSE:ETR) and lower its price target from $136.00 to $114.00. Shares of Entergy are trading up 1.51% over the last 24 hours, at $104.01 per share. A move to $114.00 would account for a 9.6% increase from the current…

Benzinga

Why This Exxon Mobil Analyst Expects Big Oil Stock To Deliver 'Excellent Returns'

While many energy majors have cut back on investments in oil and gas, Exxon Mobil Corp (NYSE: XOM) expects the demand for fossil fuels to grow at least in the medium term and has continued to invest in “some of the most attractive oil & gas projects globally,” according to…

Benzinga

Benzinga's Top Ratings Upgrades, Downgrades For June 21, 2022

Upgrades

Benzinga

6 Adobe Analysts React To Q2 Earnings Beat, Guidance Cut, Heightened Execution Risks

Adobe Inc (NASDAQ: ADBE) shares traded slightly higher on Friday after the company's full-year guidance disappointed Wall Street.

Benzinga

BMO Capital & Credit Suisse Slash United States Steel Price Target - Read Why

BMO Capital analyst David Gagliano lowered the price target on United States Steel Corp (NYSE:X) to $23 (an upside of 15.5%) from $30 while maintaining the Market Perform rating on the shares. X provided its 'mid-quarter' update yesterday and mentioned that it expects 2Q22 EBITDA of $1.6 billion, vs. BMO/FactSet consensus of $1.5 billion. Related: United…

Benzinga

Credit Suisse Sees Microsoft Azure Narrow Revenue Gap To Amazon Web Services And Widen Gap To Google Cloud, Alibaba Cloud

Credit Suisse expects Microsoft Corp (NASDAQ: MSFT) Azure, as the “enterprise cloud,” to disproportionately benefit from this accelerated shift to the public cloud.

Benzinga

Here's Why Block Is Set To Win As Per Credit Suisse

Credit Suisse analyst Timothy Chiodo reiterated an Outperform on Block, Inc (NYSE:SQ). Due to higher interest rates, Chiodo cut the price target to $170 from $180. He saw two dominant business models that will "win" over the coming decade within payment acceptance. The models will either: 1) be the software platform (and monetize via…

Benzinga

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Benzinga

Credit Suisse Maintains Outperform Rating for NextEra Energy Partners: Here's What You Need To Know

Credit Suisse has decided to maintain its Outperform rating of NextEra Energy Partners (NYSE:NEP) and lower its price target from $78.00 to $74.00. Shares of NextEra Energy Partners are trading up 2.4% over the last 24 hours, at $69.67 per share.

Benzinga

Why This Chesapeake Energy Analyst Is Bullish: ESG, Buybacks And More

Due to Chesapeake Energy (NASDAQ: CHK) restructuring to lower its costs, it will be focusing on bolstering its balance sheet, as it is a legacy company, a Credit Suisse analyst said Tuesday.

Benzinga

Financial Napalm: The Fed Needed Stocks To Fall. Credit Suisse Strategist Zoltan Pozsar Warned Us Last Month. How Our Response Has Worked Out

Zoltan Pozsar Warned Us In a post about a month ago (The Fed Isn't Your Friend), we wrote about Zoltan Pozsar's warning that the Fed's helicopters were going to be dropping "financial" napalm on the stock market.

Benzinga

Credit Suisse Sees Demand Trends Strong Across Deere's Portfolio

Credit Suisse’s analyst, Jamie Cook, met with Deere & Company (NYSE: DE) Investor Relations team, including Deputy Financial Officer Josh Jepsen and Head of Investor Relations, Brent Norwood.

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Benzinga

Credit Suisse Maintains Neutral Rating for Coterra Energy: Here's What You Need To Know

Credit Suisse has decided to maintain its Neutral rating of Coterra Energy (NYSE:CTRA) and raise its price target from $30.00 to $35.00. Shares of Coterra Energy are trading down 4.37% over the last 24 hours, at $32.81 per share.

The Independent UK

Banking exec fired after video captures violent outburst at Koreatown restaurant

Roman Cambell allegedly brawled with staff at Koreatown’s Shanghai Mong restaurant

Benzinga

Read How Analysts Reacted To Devon Energy's RimRock Transaction

Mizuho Securities analyst Vincent Lovaglio raised the price target for Devon Energy Corp (NYSE:DVN) to $94 (an upside of 28%) from $92, reflecting the $865 million Rim Rock acquisition. The analyst states that the transaction adds 15kboed and 38k net acres to the company's existing 48kboed and 85k net acre Bakken position at ~4x free cash…

Benzinga

Credit Suisse Cuts REV Group Price Target By 9%

Credit Suisse analyst Jamie Cook lowered the price target on REV Group Inc (NASDAQ:REVG) to $10 from $11 while maintaining the Underperform rating on the shares. The analyst stated that within the quarter, REVG did not experience supply chain improvement as expected, and in some instances, the situation worsened. REVG now expects supply chain challenges…

Benzinga

Morning Brief: Top Financial Stories Dominating on Thursday, June 9

Reuters Blackstone Closes In Crown Bid After Australia Approvals: Reuters

Benzinga

State Street Might Tap Credit Suisse As Takeover Interest

Credit Suisse Group AG (NYSE: CS) could receive a takeover offer from U.S. financial giant State Street (NYSE: STT), stated a media report a day earlier.

The Guardian - UK

Sanjeev Gupta’s GFG Alliance fails to get winding-up order thrown out

Credit Suisse, one of Gupta’s main creditors, started insolvency hearings against GFG companies last month

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