General view of the UBS building in Manhattan, New York City, on June 5, 2023.Swiss banking giant UBS on Wednesday smashed net profit expectations for the second quarter, as revenue came in higher than expected. Net profit attributable to shareholders came in at $1.136 billion for the period, versus a company-compiled consensus forecast of $528 million.UBS had swung back to profit in the first quarter after two quarterly losses, but it warned that its net interest income would fall in both its global wealth ...

NASHVILLE, TENNESSEE - SEPTEMBER 2, 2019: UBS Tower in Nashville, Tennessee, is home to regional ... [+] offices of the Swiss multinational investment bank and financial services company. (Photo by Robert Alexander/Getty Images)Getty ImagesUBS Group is scheduled to report earnings before Wednesday’s open. The stock hit a record high of $66.26/share in 2007 and is currently trading near $29. The stock is prone to big moves after reporting earnings and can easily gap up if the numbers are strong. Conversely, ...

SALT LAKE CITY, Aug. 8, 2024 /PRNewswire/ -- Sera Prognostics Inc., The Pregnancy Company® (NASDAQ: SERA), focused on improving maternal and neonatal health by providing innovative pregnancy biomarker information to doctors and patients, today announced that its management team will participate in the following upcoming investor conference: UBS Genomic Medicine Summit, August 13-14. President and Chief Executive Officer, Zhenya Lindgardt, will participate in a panel discussion: Future of Genetic Testing – B ...

The market expects UBS (UBS) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on August 14, 2024, might help the stock move higher if these key numbers are better than ...

UBS Group AG (UBS) sued Bank of America (BAC) yesterday for $200 million. The lawsuit, filed in a New York state court in Manhattan, alleged that the latter refused to cover the legal costs associated with risky mortgages issued before the 2008 financial crisis, per the Reuters report.The Swiss bank packaged mortgages from Countrywide Financial, which was acquired by Bank of America in 2008, into securities. The bank stated that Countrywide agreed to indemnify it against any claims that the mortgages were i ...

Group 1 - UBS analysts raised their price targets on Meta Platforms stock to $635 per share, reaffirming their "buy" rating based on strong second-quarter earnings [1] - Meta earned $13.46 billion, or $5.16 per share, on revenue of $39 billion during the quarter ending in June, with earnings up 73% and revenue up 22% year-over-year, all exceeding analyst estimates [1] - META stock was trading at $502 per share, up about $30 or 6% on the day [1] Group 2 - Investors focused on Meta's gains in the digital ad market, which grew twice as fast as Google's parent Alphabet, despite warnings of significant capital expenditure increases next year [2] - Meta's expenses totaled $24.2 billion, including a $1.4 billion settlement with Texas over facial recognition data [2] - The company reported 3.27 billion daily active users across its platforms, benefiting from cost-cutting measures that resulted in 22,000 layoffs [2] Group 3 - CEO Mark Zuckerberg stated that Meta's AI software is on track to become the most used AI assistant globally by the end of the year, utilizing an open-source development model [2] - The positive results from Meta buoyed the entire market, indicating that substantial AI investments from the past year are yielding returns [3] - Despite challenges in the metaverse, Meta is positioned to succeed in AI, with Zuckerberg's fortune estimated at $177 billion [4]

Group 1: Market Outlook - UBS raised its year-end price target for the S&P 500 to 5,900, citing a conducive environment for U.S. equities [1] - The mid-2025 forecast for the S&P 500 is set at 6,200, indicating confidence in future market performance [1] - Key factors for the upgraded targets include robust earnings growth, disinflation trends, anticipated interest rate reductions by the Federal Reserve, and increased investments in artificial intelligence [1][2] Group 2: Earnings Projections - UBS projects an 11% rise in earnings for the S&P 500 in 2024, equating to $250 per share [1] - The earnings growth estimate for 2025 has been increased to 8%, or $270 per share [1] Group 3: Federal Reserve and Interest Rates - The outlook for U.S. stocks is supported by the trend of disinflation and expectations of the Federal Reserve shifting to a rate-cutting stance [2] - UBS anticipates two rate cuts by the Federal Reserve in 2024, with the first expected in September [2] Group 4: Company-Specific Upgrades - Loop Capital upgraded Apple (AAPL) from Hold to Buy, setting a new price target of $300, based on its potential in AI technologies [4] - Block Inc. (SQ) received an upgrade from Market Perform to Outperform by William Blair, highlighting its innovations and leadership under CEO Jack Dorsey [6] - Bank of America Securities raised Shopify's rating from Neutral to Buy, adjusting the price target to $82.00, citing improved margins and solid revenue growth [8]

After Tesla (NASDAQ:TSLA) released its second-quarter results, which disappointed Wall Street, Swiss bank UBS reiterated its "sell" rating and $197 price target on Tesla stock. UBS' price target is about 10% below the stock's current level. TSLA stock is down about 11% this morning. Why UBS Is So Bearish on Tesla Stock According to UBS analyst Joseph Spak, Tesla's valuation is very high because investors believe that its initiatives in autonomy and artificial intelligence (AI) will bear great fruit in the f ...

Gold prices have surged in 2024 and judging by the latest analyst commentary, this trend is unlikely to stop anytime soon. UBS (NYSE:UBS) updated its gold price forecasts recently, raising its expectations for the precious metal’s future performance. The bank’s Chief Investment Officer (CIO) now anticipates gold to reach $2,500 per ounce by the end of September, up from the previous forecast of $2,400. Moreover, the year-end projection for 2024 has been increased to $2,600 per ounce from $2,500, with the sa ...

Core Insights - Kymera Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on targeted protein degradation (TPD) to develop innovative small molecule medicines [2][1] - The company will participate in a fireside chat at the UBS Virtual TPD Day on July 15, 2024, at 1:00 p.m. ET, with a live webcast available on its website [1] Company Overview - Kymera Therapeutics is pioneering TPD to address critical health issues and improve patient outcomes, having advanced the first degrader into clinical trials for immunological diseases [2] - The company aims to deliver oral small molecule degraders as a new generation of effective therapies for patients, while also developing oncology programs targeting undrugged or poorly drugged proteins [2] - Founded in 2016, Kymera has been recognized as one of Boston's top workplaces in recent years [2]