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UBS

UBS AG

5/19/2013, 9:45 AM ET

Quote & Headlines Market Currents StockTalk

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Monday, May 6, 10:20 AM Assured Guaranty (AGO +3.2%) pops after UBS agrees to pay $358M to settle claims over questionable MBS the bank issued and Assured guaranteed. The cash, says Mark Palmer, will allow Assured to buy back shares continuing to trade at a massive discount to book value. A settlement with Credit Suisse (CS) may be next. MBIA (MBI +3.5%) jumps as well. Comment! [Financials, On the Move]
Tuesday, April 30, 9:26 AM This just in: Some European banks are starting to mint money again. Today's strong earnings reports from UBS and Lloyds are the latest showing the payoff from the axing of numerous jobs and business lines to refocus on core operations. "We've got double-digit growth rates exactly where we want them," says UBS CFO Thomas Naratil on the CC (transcript). "In APAC, emerging markets, and ultra-high net worth segment." UBS +7.1% premarket. An ETF to keep an eye on: The MSCI Europe Financials Fund (EUFN). Comment! [Earnings, On the Move, Financials]
Tuesday, April 30, 9:10 AM Premarket gainers: HPY +10%. HTWR +9%. ANAD +9%. AVP +8%. UBS +7%. BBY +6%.
Losers: DCTH -20%. AVEO -16%. NUAN -15%. PBI -10%. MTG -8%. CNH -6%. RVBD -6%. QGEN -5%. Comment! [On the Move]
Tuesday, April 30, 3:38 AM UBS's biggest inflows came from Asia Pacific (+€5.5B) and emerging markets (+€4.9B); gross margin in both regions rose to 89 bps from 74 and to 95 bps from 92 respectively. "If you're not in developing markets or Asia you're not going to see growth," one analyst said. Comment! [Earnings, Financials]
Tuesday, April 30, 3:35 AM UBS (UBS): Q1 net income of 988M francs (+92%) beats by 576M. Pretax ROE of 49.5% vs. 17% Y/Y. Revenue of 2.79B francs (+21%). Shares +5.7% in Zurich. (PR) Comment! [Earnings, Breaking News, Financials, On the Move]
Tuesday, April 23, 8:29 AM Already under plenty of regulatory pressure for reform, Swiss banks now face increasingly restive shareholders over compensation. ISS has recommended owners reject a Credit Suisse (CS) plan to issue 27M shares with which to pay executives. Last year the proxy advisory firm nearly led a defeat of a UBS pay plan. Comment! [Financials]
Monday, April 22, 12:19 PM New regulations here and across the pond will eliminate $17B of trading revenue from the global banks, says Deutsche Bank - about 9% of total sales last year. The costs will be onerous enough, says Deutsche, as to maybe force the departure from FICC (bonds, commodities, currencies) trading of any firm with less than 6% market share. At risk: HBC, RBS, CS, MS, SCGLY.PK. UBS has already exited. 3 Comments [Financials]
Wednesday, April 17, 1:38 PM "Too little has been changed to avoid a repeat of the problem," says the Boston Fed's Eric Rosengren, arguing banks with broker-dealer units continue to hold too little capital. "The status quo represents an ongoing financial stability risk." The largest ones still standing are MS, UBS, GS, C, DB, CS, BAC, BCS, and JPM, and each of the U.S. ones passed the Fed stress test and are returning capital. 5 Comments [Financials]
Friday, April 12, 6:00 AM A break-up of the big banks is on the minds of none other than analysts at the banks themselves. Wells Fargo reckons shareholders might "intensify demands" for it, especially as the likes of Bank of America (BAC), Citigroup (C) and JPMorgan (JPM) trade at discounts of 25-30% to more-focused rivals. JPM's analysts have questioned the viability of running an investment bank "as part of a universal banking business." 7 Comments [Financials, Top Stories]
Monday, April 8, 4:27 PM Citigroup (C) will file a compensation claim against Nasdaq OMX (NDAQ) seeking to recover some of the losses incurred in connection with the botched Facebook IPO. It is worth watching the situation closely as Citi joins UBS in criticizing Nasdaq's $62M settlement with the SEC for being inadequate — the Street lost around $500M on the deal. 3 Comments [Financials]
Friday, April 5, 12:18 PM The FHFA can proceed with its lawsuit against UBS over mortgage-related losses at Fannie and Freddie, says a federal appeals court. The housing agency does indeed have standing to sue, ruled the panel, and did not wait to long to file. The same reasoning will likely apply in 14 other FHFA lawsuits against the big banks being handled by U.S. District Judge Denise Cote who made the initial ruling. Comment! [Financials]
Thursday, April 4, 5:18 PM UBS will earn ~$100M over time for its previously undisclosed role in helping Thailand's richest man purchase a 15.6% stake in Ping An, the second largest insurer in China. CP Group, the company controlled by Thai billionaire Dhanin Chearavanont, came up $7.4B short at the last minute when China Development Bank backed out of a deal to loan the money. UBS, which counts Dhanin as a client, rode to the rescue according to an exclusive story from Reuters. Comment! [Financials]
Thursday, April 4, 4:43 PM There may be a job opening at UBS (UBS). Sources tell Bloomberg that the co-heads of the firm's commercial-mortgage bond unit have exited stage left after just one week on the job. The bank had no comment. 1 Comment [Financials]
Monday, March 25, 11:17 PM Kuwaiti sheik Meshal Jarah Al Sabah says UBS owes him $20M. According to the sheik's sworn testimony in a Dubai court, UBS agreed to pay a "commission" in 2009 if French media group Vivendi could be brushed aside as a potential buyer for the African telecom assets of a Kuwaiti mobile-phone company. The fee was also intended to buy UBS the top advisory role in locating another buyer according to Sheik Meshal. UBS denies the claims. WSJ notes that "if the allegations are true, they could spotlight the role that well-paid middlemen play in deal making in the Gulf." Comment! [Financials]
Monday, March 25, 1:04 PM UBS wants Nasdaq OMX (NDAQ -0.3%) to cover all losses associated with Facebook's bumbled IPO. While Nasdaq and the SEC have agreed to a settlement under which a total of $62M will be spread between affected firms, UBS says the plan is "inadequate and insufficient." The bank wants full compensation in the amount of $350M and has filed an arbitration demand alleging "gross mishandling of the IPO." 1 Comment [Financials]
Saturday, March 23, 3:09 PM The WSJ says UBS is actively discussing a settlement with the SEC regarding fraud allegations stemming from ~$750M in CDO-related notes the bank sold during the financial crisis. The ubiquitous "people familiar with the matter" claim the investigation is coming to a close. 3 Comments [Financials]

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