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The head of global banking supervision defended Switzerland's capital regulations, stating they do not unfairly disadvantage local banks like UBS compared to international competitors. UBS has expressed concerns over proposed tighter rules, estimating a need for an additional $40 billion in capital, while the Basel Committee emphasizes the importance of capital quality over quantity. Esho highlighted that Swiss regulations allow for more flexibility in capital counting, which could mitigate perceived disadvantages.
Lloyds Banking Group plc experienced a significant 41.7% decrease in short interest in April, with 14.75 million shares short sold. Institutional investors have increased their holdings, with notable purchases from Arrowstreet Capital and Millennium Management. The company recently declared a semi-annual dividend of $0.1035 per share, reflecting a yield of 4%, and analysts maintain a consensus rating of "Moderate Buy."
UBS has experienced a 3.2% year-over-year decline in its financial advisor headcount in the U.S., losing 195 advisors, totaling 5,884. The firm is adjusting its compensation plan, which has led to advisor dissatisfaction and attrition, despite a robust recruiting pipeline. UBS aims for a pre-tax margin in the mid-teens, while competitors achieve higher margins, yet reported a significant increase in net new assets of $20.2 billion in the first quarter.
SBA Communications (NASDAQ: SBAC) has had its price target raised by Barclays to $247, indicating a potential upside of 4.20%. The stock currently holds a "Moderate Buy" rating, with six analysts recommending a hold, seven a buy, and two a strong buy. Insider trading shows VP Joshua Koenig sold 2,209 shares, reducing his ownership by 26.65%.
Oshkosh Co. reported quarterly earnings of $2.58 per share, surpassing estimates, and announced a dividend increase to $0.51, yielding 2.30%. Analysts project a fiscal year EPS of 10.96, with a consensus "Hold" rating and a price target of $115. The stock opened at $88.84, with a market cap of $5.74 billion.
Merrill Lynch, Morgan Stanley, Wells Fargo, and UBS are projected to begin offering Bitcoin ETFs by year-end, according to Bitwise CIO Matt Hougan. He anticipates that Bitcoin ETF inflows will exceed $35 billion by the end of 2025, driven by a shift towards institutional investment. BlackRock's Robert Mitchnick noted that institutional clients now hold a larger share of Bitcoin ETF investments compared to retail investors, indicating a significant change in market dynamics.
Tesla has denied reports of searching for a successor to Elon Musk amid declining sales and investor criticism linked to his political involvement. The board expressed confidence in Musk's leadership, despite a significant drop in Tesla's share price and ongoing protests against the company. Sales in France plummeted 59.4% year-on-year in April, marking a continued downward trend.
UBS Group AG reported a 3% decline in broker headcount in the Americas, ending March with 5,884 brokers, amid strategic changes aimed at cost-cutting. Despite some attrition, the firm saw a 47% increase in net new assets year-over-year, totaling $20.2 billion, primarily from existing advisors. The Americas wealth unit's profits before tax rose 42% to $357 million, although it remains the least profitable region for UBS, with a cost-to-income ratio of nearly 88%.
Bitwise CIO Matt Hougan forecasts that Merrill Lynch, Morgan Stanley, Wells Fargo, and UBS will fully open access to spot Bitcoin ETFs by the end of 2025. With these firms managing over $10 trillion in assets, this move is expected to drive record inflows into Bitcoin ETFs, indicating a significant shift towards institutional adoption of cryptocurrency investment products.
Deutsche Bank initiated coverage on EastGroup Properties with a "buy" rating and a $180 price target, while Morgan Stanley lowered its target from $186 to $180, maintaining an "equal weight" rating. Analysts show a consensus rating of "Moderate Buy" with a price target of $187.81. Institutional investors own 92.14% of the stock, which recently traded at $163.18, and the company announced a quarterly dividend of $1.40 per share, yielding 3.43%.
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