This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Credit Suisse Sets Capital-Raising Plan: Hot Trends

NEW YORK ( TheStreet) -- Popular searches on the Internet include Credit Suisse (CS - Get Report) as the bank announced a plan to boost its capital.

After being prompted by the Swiss National Bank, Credit Suisse plans to increase capital by 15.3 billion francs ($15.6 billion) this year. It also plans to cut 1 billion francs in costs by the end of 2013.

To raise additional funds, the bank will sell 3.8 billion francs worth of mandatory convertible notes. All of the measures should help nearly double the bank's capital ratio from where it was at the end of March.

The bank said its plans will not only mean a quick and substantial boost of its loss-absorbing capital but should make it much more resilient.

Credit Suisse rose as much as 6.8% following the news. The bank also reported second-quarter net income climbed 2.6% from a year earlier to 788 million francs.






Ericsson (ERIC - Get Report) is trending as the mobile telecom equipment-maker missed estimates due to slowing network sales.

Ericsson reported earnings including restructuring charges of 3.3 billion Swedish crowns ($470.9 million), below forecasts of 3.5 billion Swedish crowns. Net income declined to 1.12 billion crowns ($172 million), also below estimates. Ericsson attributed the results to a slowdown in CDMA equipment sales in North America and reduced business activity in China, Russia and India.

Ericsson has about 38% of the mobile network equipment market and is the global leader in the industry. Ericsson CEO Hans Vestberg said the long-term prospects for the company are strong as demand for new network equipment is expected to remain high due to smartphone sales, as well as the struggles the company's competitors are facing. Alcatel-Lucent and ZTE reported weak second-quarter results and issued profit warnings this week.






PayPal is another popular search. The online payment service has acquired Card.io for an undisclosed amount.

Card.io offers technology that uses mobile phone cameras to scan credit cards. PayPal, which is owned by eBay (EBAY - Get Report), already uses the company's technology in its mobile payment service for small businesses, PayPal Here.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
CS $26.76 -0.11%
EBAY $59.72 -0.03%
ERIC $11.19 -1.41%
AAPL $132.54 0.88%
FB $80.54 0.07%

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs