Volume Spike Investor » CS

Credit Suisse Sees Options Gaining (CS)

247admin — Wed, 21 Oct 2009 19:16:51 +0000

Credit Suisse Group (NYSE: CS) is trading 9X average call volume with action all through the day at the November $60 calls, with a few 500+ blocks bought. This is a high dollar volume action with the calls trading north of $2.50 much of the day. Credit Suisse may be the next financial to post blowout numbers and it is extremely cheap on valuation. Earnings are tomorrow before the open and it’s recent overhaul of compensation packages may be cheered by investors. The recent resurgence of IPOs, stock offerings and M&A should boost its large investment banking business. It is also in a position of financial strength to return cash to holders and/or make deals. Record low interest rates also likely resulted in great profits in its debt and commodities trading units.

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Swiss banks are stocks to watch on Wednesday (UBS, CS)

247admin — Wed, 01 Jul 2009 11:50:34 +0000

UBS shares (NYSE: UBS) shares are ones to watch Wednesday, as hope of a settlement in a suit that seeks to make the company identify potential U.S. tax evaders with Swiss accounts appears to be fading.

The Justice Department said in a Florida court brief that it will seek to enforce tax compliance with the “full weight’ of the law.

In related news this morning, rival Swiss bank Credit Suisse (NYSE: CS) said it will provide names of clients holding French securities to French authorities, to comply with a treaty signed earlier this month between France and Switzerland. — Mike Tarsala

Halt Volume Alert: Huntsman (HUN)

247admin — Tue, 23 Jun 2009 15:49:45 +0000

Huntsman Corp. (NYSE: HUN) shares are halted after Credit Suisse Group (NYSE: CS) and Deutsche Bank AG (NYSE: DB) said they will end all litigation with Huntsman, and will settle for $316 million each.

Also, Credit Suisse and Deutsche Bank will each provide $550 million of senior debt financing to Huntsman International, a subsidiary of Huntsman, to be repaid over seven years. The loans are aimed at bolstering Huntsman’s capital structure.

“While we believe strongly in the merits of our case, we felt it was in our best interests to resolve the litigation for $316 million each,” the banks sad in a statement. “We are pleased to have the litigation behind us.” — Mike Tarsala