Ultime notizie per UBS Gr (NYSE:UBS) Azioni

UBS Gr

The core of UBS is its global wealth management business focusing on high and ultra-high-net-worth individuals. UBS is also a conventional retail and commercial bank in its Swiss home market. Its investment bank and asset management businesses support its wealth management operations, but also leverage its strength in wealth management to serve third-party clients.

UBS Group AG

KURE TECHNOLOGIES INC by Kure Technologies, Inc.

Kure Technologies Inc

UBISOFT ENTMT INC by UbiSoft Entertainment Inc.

Ubisoft Entertainment

UBISOFT ENTMT UNSP/ADR by UbiSoft Entertainment Inc.

United Bankshares Inc

UBS GROUP N ORD

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Shares of banking and financial services stocks are trading higher following better-than-expected financial results from JPMorgan Chase and Wells Fargo.

UBS Gr's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>) short percent of float has risen 5.41% since its last report. The company recently reported that it has 12.38 million shares sold short, which is 0.39% of all regular shares that are available for trading. Based on its trading volume, it would take traders 6.24 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>UBS Gr Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728049524_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for UBS Gr has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing UBS Gr's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, UBS Gr's peer group average for short interest as a percentage of float is 2.09%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

Looking Into UBS Gr's Recent Short Interest

After securing a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41175197/openais-latest-eye-popping-valuation-ignites-analyst-expectations-for-tidal-wave-of">whopping $6.6 billion funding</a> round, ChatGPT-parent&nbsp;OpenAI has bagged a&nbsp;$4 billion revolving credit line.
What Happened: The new credit facility will bolster its liquidity to $10 billion, allowing the AI startup to invest in high-cost <a href="https://www.benzinga.com/markets/equities/24/07/39856365/openai-in-talks-with-broadcom-to-develop-new-ai-chip-aims-to-reduce-reliance-on-nvidia-report">computing capacity</a> including Nvidia Corporation&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) chips.
&#8220;This credit facility further strengthens&nbsp;our balance sheet and provides&nbsp;flexibility to seize future growth&nbsp;opportunities,&#8221; said OpenAI CFO&nbsp;Sarah Friar, in a blog on Thursday.
The credit line is facilitated by a consortium of banks: JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Citigroup, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), Banco Santander S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAN#NYSE">SAN</a>), Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), Sumitomo Mitsui Banking&nbsp;Corporation, UBS Group AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>), and HSBC Holdings plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSBC#NYSE">HSBC</a>).
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Earlier this week, OpenAI, <a href="https://www.benzinga.com/news/24/10/41149788/openai-valuation-soars-to-157b-in-latest-funding-round">valued at nearly $157 billion</a>, raised funds&nbsp;from returning venture capital investors&nbsp;such as&nbsp;Thrive Capital and Khosla Ventures.
Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), which has already invested approximately $13 billion into the AI firm over the last five years,&nbsp;and new investor Nvidia, also&nbsp;participated in the funding round.
Despite <a href="https://www.benzinga.com/news/24/09/41059344/sam-altman-hits-back-at-trolls-after-mira-muratis-openai-exit-explains-executive-drain-as-natural-we">major executive changes</a>, including the sudden exit of CTO Mira Murati, investors remain optimistic about OpenAI&#8217;s growth prospects.
However, OpenAI has also faced criticism from Elon Musk, who accused the company of&nbsp;<a href="https://www.benzinga.com/news/24/10/41156902/elon-musk-says-openai-is-evil-after-chatgpt-parent-reportedly-asked-investors-not-to-invest-in-rival">unfair funding practices</a>.
On the other hand, analysts expect a &#8220;tidal wave&#8221; of AI spending, with OpenAI&#8217;s latest valuation seen as a trigger for this growth stage.
Photo Courtesy: Shutterstock
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/10/41111038/elon-musk-gets-bold-font-removed-from-xs-main-timeline-because-of-excessive-use-my-eyes-are-bleeding?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Gets Bold Font Removed From X&#8217;s Main Timeline Because Of &#8216;Excessive&#8217; Use: &#8216;My Eyes Are Bleeding&#8217;</a></li>
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

News

Tech

MSFT

NVDA

OpenAI Secures $4B Credit Line To Supercharge AI Ambitions And Expand Nvidia-Powered Infrastructure: 'Provides Flexibility To Seize Future Growth Opportunities'

UBS Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>) has outperformed the market over the past 5 years by 7.69% on an annualized basis producing an average annual return of 21.91%. Currently, UBS Gr has a market capitalization of $96.19 billion. 
Buying $100 In UBS: If an investor had bought $100 of UBS stock 5 years ago, it would be worth $265.25 today based on a price of $30.00 for UBS at the time of writing.
<h3>UBS Gr's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727299820_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In This Stock 5 Years Ago Would Be Worth $300 Today

Nike, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) is the latest company to take part in what has become a trend among big companies: bringing back an executive to assume <a href="https://www.benzinga.com/news/24/09/40954074/why-nike-shares-are-trading-higher-by-around-7-here-are-20-stocks-moving-premarket">the role of CEO</a>.
The sneaker giant <a href="https://www.benzinga.com/news/24/09/40957353/nikes-new-ceo-elliott-hill-to-focus-on-repairing-retailer-relations">announced on Thursday</a> the appointment of Elliott Hill, the company&#8217;s former president of consumer and marketplace who has been with Nike for three decades, as its new CEO to replace retiring CEO John Donahoe.
Nike is not alone in having an executive — the company&#8217;s former CEO, in many cases — return to the company to fill its top leadership post in a &#8220;Boomerang CEO&#8221; trend.
Read Also: <a href="https://www.benzinga.com/news/24/04/38209892/nike-stock-jumps-on-upgrade-to-buy-as-analyst-says-its-time-to-just-do-it">Nike Stock Jumps On Upgrade To Buy As Analyst Says It&#8217;s &#8216;Time To Just Do It&#8217;</a>
<ul>
<li>Bob Iger: Almost two years ago, Iger returned to The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) <a href="https://www.benzinga.com/general/entertainment/22/11/29798775/bob-iger-returns-as-disney-ceo-after-reports-of-growing-rift-with-bob-chapek">as its CEO</a> to replace CEO Bob Chapek. Iger previously served in that top role from 2005 to 2020. Last July, the company&#8217;s board voted unanimously to extend his CEO contract to <a href="https://www.benzinga.com/news/23/07/33207650/disneys-board-votes-for-continuity-extends-ceo-igers-contract-to-2026">the end of 2026</a>.</li>
</ul>
<ul>
<li>Howard Schulz: In April 2022, Schulz returned to <a href="https://www.benzinga.com/news/22/03/26163125/starbucks-ceo-kevin-johnson-announces-retirement-founder-howard-schultz-to-return-in-interim-role">the CEO post</a> at Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) for the third time in an interim capacity to fill in for retiring CEO Kevin Johnson. Schulz founded the company and served as CEO first from 1986 to 2000 and again from 2008 to 2017. He stepped down as interim CEO in August to <a href="https://www.benzinga.com/top-stories/24/08/40396716/starbucks-new-ceo-brian-niccol-boosts-company-valuation-by-over-15b-in-one-day-whats-his-net-worth">hand over the reins</a> to Brian Niccol, former CEO of Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>).</li>
</ul>
<ul>
<li>Kevin Plank: At the end of April, Plank<a href="https://www.benzinga.com/markets/equities/24/03/37690723/kevin-plank-returns-as-ceo-under-armours-original-visionary-takes-charge-again"> returned as CEO</a> of Under Armour, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UA#NYSE">UA</a>) to replace Stephanie Linnartz. He previously served as CEO of the apparel company from 1996, the year he founded it, to 2020.</li>
</ul>
<ul>
<li>Sam Altman: In November 2023, Altman <a href="https://www.benzinga.com/news/23/11/35911061/sam-altman-to-return-as-openai-ceo-as-new-board-collaborating-to-figure-out-details">returned as the CEO</a> of OpenAI just four days after he was ousted from the position. He was reinstated as CEO on Nov. 22, two days after employees demanded that Altman be given back his CEO job.</li>
</ul>
<ul>
<li>Sergio Ermotti: In April 2023, Ermotti returned <a href="https://www.benzinga.com/news/large-cap/23/03/31546168/ubs-rehires-former-ceo-to-oversee-credit-suisse-takeover">as the CEO</a> of UBS Group AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>) to oversee its takeover of Credit Suisse. Ermotti, who assumed the position after CEO Ralph Hamers stepped down, was previously UBS&#8217; CEO from November 2011 to November 2020</li>
</ul>
Price Action: These companies with returning CEOs saw gains and losses into Friday&#8217;s early-afternoon trading.
<ul>
<li>Nike rose 6.41% to $86.17</li>
<li>Walt Disney gained 0.11% to $93.55</li>
<li>Starbucks dropped 0.64% to $96.28</li>
<li>Under Armour edged up 0.87% to $7.55</li>
<li>UBS slipped 1.43% to $29.97</li>
</ul>
Read Now:
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<li><a href="http://Bob Iger's Success At Disney: New Document Reveals CEO's Biggest Wins According To The Man Himself">Bob Iger&#8217;s Success At Disney: New Document Reveals CEO&#8217;s Biggest Wins According To The Man Himself</a></li>
</ul>
Image: Pixabay
<a href="https://www.benzinga.com/quote/dis" target="_blank" rel="noreferrer noopener"></a>

Entertainment

Success Stories

SBUX

Nike Executive's Return To Become Top Leader Continues 'Boomerang CEO' Trend At Major Companies

UBS Gr's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>) short percent of float has fallen 11.9% since its last report. The company recently reported that it has 11.80 million shares sold short, which is 0.37% of all regular shares that are available for trading. Based on its trading volume, it would take traders 8.02 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>UBS Gr Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726668014_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for UBS Gr has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing UBS Gr's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, UBS Gr's peer group average for short interest as a percentage of float is 2.25%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Peering Into UBS Gr's Recent Short Interest

UBS Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>) has outperformed the market over the past 5 years by 7.59% on an annualized basis producing an average annual return of 20.94%. Currently, UBS Gr has a market capitalization of $94.27 billion. 
Buying $100 In UBS: If an investor had bought $100 of UBS stock 5 years ago, it would be worth $255.57 today based on a price of $29.40 for UBS at the time of writing.
<h3>UBS Gr's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726250487_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $100 In This Stock 5 Years Ago, You Would Have $300 Today

UBS Group AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>) shares are trading lower on Wednesday. 
Sabine Keller-Busse, UBS&#8217;s Switzerland country head, affirmed the bank&#8217;s steadfast commitment to its domestic market, addressing public concerns about its plans, reported Reuters.
Keller-Busse told a conference in northern Switzerland, &#8220;Underpinning this commitment, we aim to maintain our loan book in Switzerland at around 350 billion Swiss francs [$411 million].&#8221; 
The loans include corporate loans, private loans and mortgages. 
UBS has faced intense scrutiny since its acquisition of Credit Suisse last year, which followed <a href="https://www.benzinga.com/markets/equities/24/06/39264623/ubs-and-credit-suisse-swiss-unit-merger-set-for-july-1-says-senior-ubs-executive">the rival&#8217;s financial troubles and eventual collapse</a>.
UBS leadership criticized Credit Suisse&#8217;s unsustainable business model and low credit terms, suggesting a need for re-pricing. This has fueled speculation that UBS might reduce its loan portfolio in Switzerland. 
However, Keller-Busse noted that Switzerland accounts for about 30% of UBS&#8217;s capital and revenues, underscoring its importance to the bank.
Last month, UBS placed a real estate fund from its former competitor Credit Suisse, valued at <a target="_blank" href="https://www.benzinga.com//node/40394313" rel="noreferrer noopener">over&nbsp;$2 billion, into &#8220;orderly liquidation.&#8221;</a>
In August, UBS &nbsp;reported&nbsp;second-quarter&nbsp;FY24 sales of&nbsp;$11.9 billion, up&nbsp;25%&nbsp;Y/Y, beating the consensus of&nbsp;$11.3&nbsp;billion&nbsp;and EPS&nbsp;of&nbsp;$0.34<a href="https://www.benzinga.com/news/earnings/24/08/40360422/ubs-q2-earnings-beats-wealth-management-shines-cost-savings-accelerate-more" target="_blank" rel="noreferrer noopener">, beating the consensus of&nbsp;$0.12</a>.
Investors can gain exposure to the stock via&nbsp;Avantis International Equity ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVDE#NYSE">AVDE</a>) and&nbsp;American Century ETF Trust Avantis Responsible International Equity ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVSD#NYSE">AVSD</a>).
UBS Price Action:&nbsp;UBS Group shares are up 0.52% at $28.78 at publication Wednesday.
Read Next:
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Equities

Large Cap

Global

AVDE

American Century ETF Trust Avantis Responsible International Equity ETF

AVSD

What's Going With UBS Shares On Wednesday?

ERIE

KNSL

KSPI

NCPL

SLQT

SOFI

Shares of companies within the broader financial sector are trading lower amid overall market weakness. Weakness may be due to August's ISM Manufacturing PMI data indicating an economic contraction.

UBS Gr's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>) short percent of float has risen 55.56% since its last report. The company recently reported that it has 13.51 million shares sold short, which is 0.42% of all regular shares that are available for trading. Based on its trading volume, it would take traders 9.51 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>UBS Gr Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725306316_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for UBS Gr has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing UBS Gr's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, UBS Gr's peer group average for short interest as a percentage of float is 1.86%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

UBS Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>) has outperformed the market over the past 5 years by 10.33% on an annualized basis producing an average annual return of 24.29%. Currently, UBS Gr has a market capitalization of $99.88 billion. 
Buying $1000 In UBS: If an investor had bought $1000 of UBS stock 5 years ago, it would be worth $2,966.13 today based on a price of $31.15 for UBS at the time of writing.
<h3>UBS Gr's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724875250_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 5 Years Ago Would Be Worth $3,000 Today

GRFS

Brookfield Reportedly In Talks With Banks Including UBS And Bank Of America To Fund Grifols Takeover Bid

Financial giants have made a conspicuous bullish move on UBS Gr. Our analysis of options history for UBS Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>) revealed 8 unusual trades.
Delving into the details, we found 75% of traders were bullish, while 25% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $140,703, and 5 were calls, valued at $279,809.
<h3>What's The Price Target?</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $27.5 and $32.5 for UBS Gr, spanning the last three months.
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for UBS Gr's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of UBS Gr's whale activity within a strike price range from $27.5 to $32.5 in the last 30 days. 
<h3>UBS Gr Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724176870_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>UBS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$1.18</td>
<td>$1.11</td>
<td>$1.17</td>
<td>$32.50</td>
<td>$81.9K</td>
<td>1.3K</td>
<td>2</td>
</tr>
<tr>
<td>UBS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$2.03</td>
<td>$2.02</td>
<td>$2.02</td>
<td>$30.00</td>
<td>$61.0K</td>
<td>831</td>
<td>302</td>
</tr>
<tr>
<td>UBS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$1.19</td>
<td>$1.1</td>
<td>$1.17</td>
<td>$32.50</td>
<td>$59.2K</td>
<td>1.3K</td>
<td>1.2K</td>
</tr>
<tr>
<td>UBS</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$2.49</td>
<td>$2.41</td>
<td>$2.48</td>
<td>$32.50</td>
<td>$52.0K</td>
<td>592</td>
<td>289</td>
</tr>
<tr>
<td>UBS</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$2.5</td>
<td>$2.49</td>
<td>$2.49</td>
<td>$32.50</td>
<td>$46.5K</td>
<td>592</td>
<td>487</td>
</tr>
</tbody>
</table>

<h3>About UBS Gr</h3>
The core of UBS is its global wealth management business focusing on high and ultra-high-net-worth individuals. UBS is also a conventional retail and commercial bank in its Swiss home market. Its investment bank and asset management businesses support its wealth management operations, but also leverage its strength in wealth management to serve third-party clients.
After a thorough review of the options trading surrounding UBS Gr, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Where Is UBS Gr Standing Right Now?</h3>
<ul>
<li>With a trading volume of 936,378, the price of UBS is up by 0.08%, reaching $30.48.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 77 days from now.</li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest UBS Gr options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Markets

Unpacking the Latest Options Trading Trends in UBS Gr

UBS Asset Management agrees to transfer management of its Quantitative Investment Strategies business to Manteio Partners
Upon closing, Manteio will assume responsibility as investment manager of the QIS funds and mandates.
New York, August 16, 2024 - UBS Asset Management today signed a definitive agreement to transfer the management of its Quantitative Investment Strategies ("QIS") business with approximately USD 1.5 billion in AuM to Manteio Partners LLC and its affiliates ("Manteio"), a systematic investment manager.
Upon closing, Manteio will assume responsibility as investment manager of the QIS funds and mandates. As part of the transaction, the QIS portfolio management team is expected to move to and operate as a distinct group within Manteio, ensuring continuity for investors.
The transaction is expected to be completed in the fourth quarter, subject to regulatory and investor approvals and other customary closing conditions.

UBS Group Says UBS Asset Management Agrees To Transfer Management Of Its Quantitative Investment Strategies Business To Manteio Partners; Upon Closing, Manteio Will Assume Responsibility As Investment Manager Of QIS Funds And Mandates; Transaction Is Expected To Be Completed In Q4

UBS Group AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>) reportedly placed a real estate fund from its former competitor Credit Suisse, valued at over $2 billion, into &#8220;orderly liquidation.&#8221;
UBS stated that the Credit Suisse Real Estate Fund International had total net assets of 1.88 billion Swiss francs ($2.17 billion) as of June, reported Reuters.
The fund&#8217;s value had significantly declined throughout 2023, according to earlier reports from the bank. UBS stated that 36% of the fund&#8217;s total units in circulation in 2022 had been redeemed by the end of 2023, per the report.
UBS noted that meeting the outstanding 2023 redemptions would require selling the portfolio&#8217;s most liquid assets at an &#8220;inopportune time&#8221; in the real estate market.
UBS added that this would negatively affect remaining investors, reduce the portfolio&#8217;s attractiveness, and likely lead to further redemptions, the report further added.
Yesterday, UBS &nbsp;reported&nbsp;second-quarter FY24 sales of&nbsp;$11.9 billion, up&nbsp;25% Y/Y, beating the consensus of&nbsp;$11.3&nbsp;billion and &nbsp;EPS&nbsp;of&nbsp;$0.34<a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40360422/ubs-q2-earnings-beats-wealth-management-shines-cost-savings-accelerate-more" rel="noreferrer noopener">, beating the consensus of&nbsp;$0.12</a>.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, UBS has gained around&nbsp;27%&nbsp;in the last 12 months. Investors can gain exposure to the stock via&nbsp;Avantis International Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVDE#NYSE">AVDE</a>) and&nbsp;American Century ETF Trust Avantis Responsible International Equity ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVSD#NYSE">AVSD</a>).
Price Action: UBS shares are down 2.33% at $30.17 premarket at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by JRdes on Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/06/39473245/ubs-sells-stake-in-china-joint-venture-to-comply-with-local-regulations-report" target="_blank" rel="noreferrer noopener">UBS Sells Stake In China Joint Venture To Comply with Local Regulations: Report</a></li>
</ul>

Media

UBS Liquidates $2B Credit Suisse Real Estate Fund Amid Market Slump: Report

U.S. stocks traded mixed toward the end of trading, with the Dow Jones index gaining around 250 points on Wednesday.
The Dow traded up 0.65% to 40,022.71 while the NASDAQ fell 0.20% to 17,153.85. The S&amp;P 500 also rose, gaining, 0.24% to 5,447.57.
Leading and Lagging Sectors Financials shares climbed by 1.1% on Tuesday.
In trading on Tuesday, communication services shares fell 1.3%.
Top Headline
UBS Group AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>) posted strong second-quarter earnings.
UBS Group reported second-quarter FY24 sales of $11.9 billion, up 25% Y/Y, beating the consensus of $11.3 billion.
Underlying operating profit before tax reached $2.06 billion, significantly higher than $891 million a year ago. EPS of 34 cents beat the consensus of 12 cents.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Avalon Globocare Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALBT#NASDAQ">ALBT</a>) shares shot up 119% to $0.5754 after the company announced its Laboratory Services MSO, LLC has begun manufacturing the GeeWhiz external male catheter.</li>
<li>Shares of Digital Ally Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DGLY#NASDAQ">DGLY</a>) got a boost, surging 72% to $1.4436 after the company was granted a U.S. Patent for tracking and analysis of drivers within a fleet of vehicles.</li>
<li>Mercury Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRCY#NASDAQ">MRCY</a>) shares were also up, gaining 18% to $40.08 after the company reported better-than-expected fourth-quarter financial results.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Ouster Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OUST#NYSE">OUST</a>) shares dropped 26% to $8.07 after the company reported worse-than-expected second-quarter sales results and issued third-quarter revenue guidance below estimates.</li>
<li>Shares of Verrica Pharmaceuticals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRCA#NASDAQ">VRCA</a>) were down 35% to $3.4392. On Wednesday, dermatology drug developer Verrica Pharmaceuticals released preliminary results from Part 2 of its Phase 2 trial of VP-315 for basal cell carcinoma.</li>
<li>European Wax Center Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWCZ#NASDAQ">EWCZ</a>) was down, falling 28% to $5.01 after the company reported second quarter fiscal year 2024 results and named David Berg as Chief Executive Officer.</li>
</ul>
Commodities In commodity news, oil traded down 1.5% to $77.14 while gold traded down 1.1% at $2,480.10.
Silver traded down 1.5% to $27.37 on Wednesday, while copper fell 0.3% to $4.0410.
Euro zone
European shares closed higher today. The eurozone's STOXX 600 rose 0.49%, Germany's DAX rose 0.41% and France's CAC 40 rose 0.79%. Spain's IBEX 35 Index rose 0.27%, while London's FTSE 100 rose 0.56%.
Asia Pacific Markets
Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 jumping 0.58%, Hong Kong's Hang Seng Index falling 0.35%, China's Shanghai Composite Index falling 0.60% and S&amp;P BSE Sensex rising 0.19%.
Economics
<ul>
<li>Headline CPI inflation fell from 3% in June to 2.9% in July 2024 on a year-over-year basis, falling short of the consensus forecast of 3% tracked by TradingEconomics.</li>
<li>On a monthly basis, inflation increased by 0.2% in July, rebounding from the previous month&#8217;s contraction of 0.1% and matching estimates of 0.2%.</li>
<li>U.S. crude oil inventories rose by 1.357 million barrels in the week ending Aug. 9, ending a six-week streak of declines. </li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40366389/this-starbucks-analyst-turns-bullish-here-are-top-5-upgrades-for-wednesday">This Starbucks Analyst Turns Bullish; Here Are Top 5 Upgrades For Wednesday</a></li>
</ul>

Earnings

Eurozone

Commodities

ALBT

DGLY

EWCZ

MRCY

OUST

VRCA

Crude Oil Down Over 1%; Mercury Systems Shares Spike Higher

U.S. stocks were mixed, with the Dow Jones index gaining around 50 points on Wednesday.
Shares of UBS Group AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>) rose during Wednesday's session following strong s<a href="https://www.benzinga.com/news/earnings/24/08/40360422/ubs-q2-earnings-beats-wealth-management-shines-cost-savings-accelerate-more">econd-quarter earnings.</a>
UBS Group reported second-quarter FY24 sales of $11.9 billion, up 25% Y/Y, beating the consensus of $11.3 billion.
Underlying operating profit before tax reached $2.06 billion, significantly higher than $891 million a year ago. EPS of 34 cents beat the consensus of 12 cents.
UBS shares gained 5.6% to $30.89 on Wednesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Serve Robotics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SERV#NASDAQ">SERV</a>) shares jumped 29% to $13.40 after the company announced a partnership with Shake Shack to deliver products using autonomous delivery robots through Uber Eats.</li>
<li>Mercury Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRCY#NASDAQ">MRCY</a>) surged 21.9% to $41.43 after the company reported better-than-expected fourth-quarter financial results.</li>
<li>AnaptysBio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANAB#NASDAQ">ANAB</a>) gained 18.8% to $39.62 after the company announced a public offering of 2,750,498 shares of common stock at $36.50 per share.</li>
<li>Victoria&#8217;s Secret &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSCO#NYSE">VSCO</a>) gained 17.1% to $22.33 after the company announced a new CEO and reported strong preliminary second-quarter financial results.</li>
<li>Nkarta, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKTX#NASDAQ">NKTX</a>) surged 13.7% to $5.65 following upbeat quarterly earnings.</li>
<li>Marex Group plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRX#NASDAQ">MRX</a>) gained 13% to $23.56 after the company reported better-than-expected second-quarter financial results.</li>
<li>Smith Douglas Homes Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SDHC#NASDAQ">SDHC</a>) jumped 12.2% to $36.54 after the company reported better-than-expected second-quarter revenue results..</li>
<li>Intapp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTA#NASDAQ">INTA</a>) gained 12.1% to $38.11 after the company reported strong fourth-quarter earnings and issued guidance.</li>
<li>Clover Health Investments, Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLOV#NASDAQ">CLOV</a>) gained 11.3% to $2.2250 following quarterly results.</li>
<li>Performance Food Group Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFGC#NYSE">PFGC</a>) climbed 9.7% to $73.58 after the company reported better-than-expected fourth-quarter adjusted EPS results.</li>
<li>XP Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XP#NASDAQ">XP</a>) gained 8.7% to $20.05 following second-quarter results.</li>
<li>Prelude Therapeutics Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRLD#NASDAQ">PRLD</a>) gained 8.6% to $6.73.</li>
<li>Flutter Entertainment plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLUT#NYSE">FLUT</a>) gained 8% to $206.76 after the company reported a year-over-year increase in second-quarter financial results..</li>
<li>Kellanova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/K#NYSE">K</a>) gained 7.9% to $80.39 following a report suggesting Mars is expected to pay $83.50 per share for the company.</li>
<li>Qifu Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QFIN#NASDAQ">QFIN</a>) climbed 7.5% to $22.69 following second-quarter results.</li>
<li>LPL Financial Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>) gained 7.1% to $213.53.</li>
</ul>
Now Read This:<a href="https://www.benzinga.com/news/24/08/40362640/wall-streets-most-accurate-analysts-weigh-in-on-3-tech-stocks-with-over-3-dividend-yields"> </a>
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40362640/wall-streets-most-accurate-analysts-weigh-in-on-3-tech-stocks-with-over-3-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Weigh In On 3 Tech Stocks With Over 3% Divi</a><a href="https://www.benzinga.com/news/24/08/40362640/wall-streets-most-accurate-analysts-weigh-in-on-3-tech-stocks-with-over-3-dividend-yields">dend Yields</a></li>
</ul>

Intraday Update

Movers

ANAB

CLOV

FLUT

INTA

LPLA

NKTX

PFGC

PRLD

QFIN

SDHC

SERV

VSCO

UBS Posts Upbeat Earnings, Joins Victoria's Secret, Performance Food Group, Kellanova And Other Big Stocks Moving Higher On Wednesday

UBS shares are trading higher following strong Q2 earnings.

The major index futures are pointing to a nervous start ahead of the <a href="https://www.benzinga.com/etfs/sector-etfs/24/08/40323092/feds-interest-rate-decision-will-incoming-july-inflation-data-tip-the-scale">consumer price inflation report </a>that is due at 8:30 a.m. EDT. Bond yields are slipping ahead of the inflation data. If the report confirms a continued let-up in pricing pressure, the Federal Reserve may be forced to cut rates. Economists and strategists expect Fed Chair Jerome Powell to render more clarity on the rate outlook at the Jackson Hole symposium scheduled for later this month.
Atlanta Federal Reserve President Raphael Bostic, however, suggested he would want to see more evidence before the rate could be taken down from its 22-year high. 
Hon Hai Precision Industry Co. Ltd.&#8217;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HNHPF#OTC">HNHPF</a>) commentary about strong AI server demand could lend support to Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and other AI-levered tech stocks. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.07%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.05%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.01%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.44%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In premarket trading on Wednesday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) edged up 0.06% to $542.34, and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.05% to $462.81, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Last Session: 
Stocks raced out of the gate on Tuesday after a tamer-than-expected producer price inflation report perked up risk appetite. The VIX at one point in time pulled back below the 18 level. All three major averages opened higher and advanced further over the course of trading before ending notably higher. The tech-heavy Nasdaq Composite and the S&amp;P 500 indices closed at their highest levels since Aug. 1. In the process, the S&amp;P 500 posted the biggest four-day rally for the year. 
Technical analyst and CNBC contributor Frank Cappelleri noted that the S&amp;P 500 has advanced 4.8% over six sessions, the best six-day gain since the 6% rise between Oct. 30, 2023 and Nov. 6, 2023.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24SPX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SPX</a> The 6-day advance now is +4.8%. That&#39;s the best since the 6-day gain of +6.0% from 10/30-11/6/23. The index is now challenging its 50-DMA and a key downtrend line… …which ALSO is similar to early Nov'23. <a href="https://t.co/mTvo9TBu7H">pic.twitter.com/mTvo9TBu7H</a>
&mdash; Frank Cappelleri (@FrankCappelleri) <a href="https://twitter.com/FrankCappelleri/status/1823474564686627315?ref_src=twsrc%5Etfw">August 13, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+2.43%</td>
<td>17,187.61</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+1.68%</td>
<td>5,434.43</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+1.04%</td>
<td>39,765.64</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+1.61%</td>
<td>2,095.19</td>
</tr>
</tbody>
</table>
</figure>
 Insights From Analysts:
Commenting on the market recovery post-Monday&#8217;s meltdown, fund manager Louis Navellier said, &#8220;Barring any major geopolitical surprises, it appears likely that the recovery from the recent correction will continue, though with caution rather than the strong melt-ups we&#8217;ve seen this year.&#8221;
&#8220;The NVIDIA earnings on Aug. 28 will be pivotal to a full recovery,&#8221; he said.  
Upcoming Economic Data:
The July consumer price inflation report is the lone piece of first-tier data due on Wednesday. Here&#8217;s how the expectations compare to the prior periods:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Consensus</td>
<td>June Performance</td>
</tr>
<tr>
<td>Consumer Prices (M-o-M)</td>
<td>+0.2%</td>
<td>-0.1%</td>
</tr>
<tr>
<td>Consumer Prices (Y-o-Y)</td>
<td>+3.0%</td>
<td>+3.0%</td>
</tr>
<tr>
<td>Core consumer prices (M-o-M)</td>
<td>+0.2%</td>
<td>+0.1%</td>
</tr>
<tr>
<td>Core consumer prices (Y-o-Y)</td>
<td>+3.2%</td>
<td></td>
</tr>
</tbody>
</table>
</figure>
The Energy Information Administration will release its weekly petroleum status report at 10:30 a.m. EDT.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Stocks In Focus:
<ul>
<li>Peloton Interactive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTON#NASDAQ">PTON</a>) climbed nearly 7% <a href="https://www.benzinga.com/premarket">in premarket trading</a> after the company announced a content partnership with Alphabet, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Fitbit.</li>
<li>Kellanova (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/K#NASDAQ">K</a>) rose about 6.50% after the Wall Street Journal reported Mars, Inc. is nearing a deal to buy the former.</li>
<li>Cardinal Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAH#NYSE">CAH</a>), Brinker International, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EAT#NYSE">EAT</a>) and Performance Food Group Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFGC#NYSE">PFGC</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">notable companies reporting earnings ahead of the market open.</a></li>
<li>Those reporting after the close include Cisco Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) and Lumentum Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LITE#NASDAQ">LITE</a>).</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures edged down, signaling that the black gold may extend the 2%+ drop seen in the previous session, and gold futures rose modestly. The 10-year Treasury- note yield slipped 1.7 basis points to 3.837%. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) continued its climb and traded above the $61K level.
The Asian markets advanced, as traders cheered Wall Street&#8217;s buoyant performance overnight and began to price in a Fed rate cut. The Chinese and Hong Kong markets, however, bucked the uptrend. European stocks were modestly higher in early trading, with UBS AG&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>) lending support to financial stocks.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/08/40359306/kevin-oleary-calls-kamala-harris-show-me-story-elon-musk-modern-day-bruce-wayne-shark-tank-star-disc">Kevin O&#8217;Leary Calls Kamala Harris&#8217; &#8216;Show-Me&#8217; Story, Elon Musk &#8216;Modern Day Bruce Wayne:&#8217; &#8216;Shark Tank&#8217; Star Discusses Inflation And Market Opportunity</a></li>
</ul>
Image Via Shutterstock

Futures

Previews

Economics

Federal Reserve

Pre-Market Outlook

$BTC

CSCO

GOOG

GOOGL

HNHPF

LITE

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Wall Street Set For Subdued Start As Traders Await All-Important Inflation Data, Bitcoin Tops $61K: Fund Manager Flags This Event As Pivotal To Near-term Market Recovery

UBS Group AG&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>)&nbsp;shares are trading higher after it&nbsp;reported&nbsp;second-quarter FY24 sales of&nbsp;$11.9 billion, up&nbsp;25% Y/Y, beating the consensus of&nbsp;<a target="_blank" href="https://www.ubs.com/global/en/investor-relations/financial-information/quarterly-reporting.html" rel="noreferrer noopener">$11.3</a> billion.
Underlying operating profit before tax reached&nbsp;$2.06 billion, significantly higher than&nbsp;$891 million a year ago.
Global Wealth&nbsp;Management&#8217;s&nbsp;net new assets for the&nbsp;second quarter&nbsp;were&nbsp;$26.9 billion, with revenues&nbsp;increasing&nbsp;15% Y/Y to&nbsp;$6.05 billion.
The group posted a net profit attributable to shareholders of&nbsp;$1.14&nbsp;billion&nbsp;for the quarter, which declined from&nbsp;$27.3 billion&nbsp;a year ago. EPS&nbsp;of&nbsp;$0.34&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beat the consensus of&nbsp;$0.12</a>.
CET1 capital ratio, a measure of bank liquidity, was&nbsp;14.9%, compared to&nbsp;14.8% the previous quarter and&nbsp;14.1% a year ago.
CEO Sergio Ermotti said, &#8220;Our first-half results reflect the significant progress we have made since the closing of the acquisition as we deliver on all of our commitments to stakeholders. We are well positioned to meet our financial targets and return to the levels of profitability we delivered before being asked to step in and stabilize Credit Suisse.&#8221;
&#8220;We are now entering the next phase of our integration, which will be critical to realize further substantial cost, capital, funding and tax benefits. As we execute on our plans, we will continue to invest to position UBS for sustainable growth while staying close to clients, providing even better outcomes for them and the communities where we live and work.&#8221;
The company achieved additional gross cost savings of&nbsp;$0.9 billion, for a total of about&nbsp;$6 billion&nbsp;in annualized&nbsp;exit rate&nbsp;gross cost savings vs. FY22 combined.&nbsp;
UBS now anticipates achieving around $7 billion in gross cost savings by the end of 2024, which is about 55% of its goal of roughly $13 billion by the end of 2026.
UBS completed its merger with Credit Suisse and key structural changes in mid-2024. Client migration to UBS platforms will start in the fourth quarter of 2024, with major benefits expected by the end of 2026.
Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/39095690/ubs-wealth-management-role-split-in-executive-board-reshuffle" rel="noreferrer noopener">UBS Wealth Management Role Split In Executive Board Reshuffle</a>
Outlook: In the third quarter of 2024, UBS anticipates integration-related expenses of approximately $1.1 billion. While the rate of gross cost savings is expected to modestly decline sequentially, these expenses should be partly offset by about <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">$0.6 billion from purchase accounting effects</a>.
For H2 2024, the bank projects that non-core and legacy units will face a $1 billion pre-tax loss and revenue to see modest gains, and sequential cost improvement.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, UBS has gained around&nbsp;25% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Avantis International Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVDE#NYSE">AVDE</a>) and&nbsp;American Century ETF Trust Avantis Responsible International Equity ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVSD#NYSE">AVSD</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39473245/ubs-sells-stake-in-china-joint-venture-to-comply-with-local-regulations-report" rel="noreferrer noopener">UBS Sells Stake In China Joint Venture To Comply with Local Regulations: Report</a>
Price Action: UBS shares are up 2.53% at $29.99 premarket at the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
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