Wall Street doesn't seem to know what to think about Microsoft (NASDAQ: MSFT) stock in 2023. The software giant's shares trounced the S&P 500 through the early phases of the pandemic, but its outperformance has waned over the past year. Now, investors appear to be worried about slowing growth and the potential for weakening sales trends to spread into its cloud services business. Read More...
UBS to Buy Credit Suisse for $1 Billion (FT)
Credit Suisse, once a Swiss and European financial flagship, will be swallowed up by its rival and compatriot UBS for only one billion dollars, in a bid to restore confidence around the banking sector, reports the Financial Times. To restore calm as quickly as Credit Suisse recorded some 10 billion Swiss francs in outflows in one week, the Swiss authorities urged UBS to acquire Credit Suisse. According to the article, to expedite things and calm down the markets, the Swiss authorities plan to change the regulatory laws of the country requiring that a merger or acquisition be validated by the shareholders via a vote.