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Stock Market & Financial Investment News

News For CS From The Last 14 Days
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March 27, 2015
09:37 EDTCSGoldman Sachs overtakes JPMorgan in commodities rankings, Reuters says
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March 20, 2015
17:07 EDTCSCredit Suisse files automatic mixed securities shelf
March 19, 2015
06:06 EDTCSSunrun powers up for IPO later this year, WSJ reports
Sunrun, a solar-energy company, is said to be working with Credit Suisse (CS) and Goldman Sachs (GS) on a potential IPO for later this year, sources tell The Wall Street Journal, which adds that the company was valued at $1.3B as of March 2014. Other solar companies that have gone public in recent years include residential solar installers like Vivint Solar (VSLR), backed by Blackstone (BX), and SolarCity (SCTY), backed by Tesla's (TSLA) Elon Musk. Reference Link
March 17, 2015
13:40 EDTCSAmended settlement agreement announced between Credit Suisse, Freeport
On March 16, an Addendum to the Stipulation and Agreement of Settlement, Compromise and Release was entered into with respect to the consolidated stockholder derivative litigation captioned In Re: Freeport-McMoRan Copper & Gold (FCX) Derivative Litigation, C.A. No. 8145-VCN. The Addendum modifies the terms of the settlement in order to resolve potential derivative claims against Credit Suisse Securities (CS) in connection with its engagement to act as lead financial advisor to the Special Committee of the Board of Directors of Freeport-McMoRan with respect to the company’s 2013 acquisitions of Plains Exploration & Production Company and McMoRan Exploration Co., which potential claims were previously excluded from the settlement as set forth in the Stipulation and Agreement of Settlement, Compromise and Release filed on January 15. As set forth in the Addendum, the original settlement consideration will be increased by $16.25M, consisting of a $10M cash payment to the company by Credit Suisse, and a credit of $6.25M to be redeemable by the company in connection with future assignments Credit Suisse performs. The Supplemental Cash Amount, together with the original settlement amount, less plaintiffs’ attorneys’ fees and expenses as awarded by the Court of Chancery of the State of Delaware, will be distributed to the company’s stockholders as a special dividend. The settlement is subject to specified conditions, including final approval by the Court of Chancery of the State of Delaware. The settling defendants and Credit Suisse vigorously deny all allegations of wrongdoing or fault but entered into the settlement to avoid the costs and distraction of continued litigation.
10:00 EDTCSOn The Fly: Analyst Downgrade Summary
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06:30 EDTCSCredit Suisse downgraded to Underperform from Neutral at Macquarie
Macquarie downgraded Credit Suisse to Underperform following recent share strength.
March 16, 2015
17:07 EDTCSCredit Suisse to pay Freeport McMoRan $10M to settle allegations, WSJ says
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14:08 EDTCSEU regulator says time for fine-tuning, Reuters says
The Basel Committee on Banking Supervision believes the necessary bank regulatory framework is in place though some additional work must be done to finalize leverage ratio and capital floor rules, Reuters reported yesterday, citing statements by secretary-general William Coen at a financial conference in Doha. Coen added, "We're now at the state where we can take a step back and look to see how [the regulations] fit together," cautioning that further analysis must be data-driven but admitting that both banks and regulatory bodies were feeling "regulation fatigue." Publicly traded companies in the space include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link

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