It was a strong end to the week for the markets, which saw the three major indexes close higher on Friday after another robust week of trading and earnings.
But not everyone was up to snuff and thus, one Wall Street mainstay now finds itself under fire from insurgent investors.
Activist RBR Capital on Friday officially kicked off its campaign to break up Credit Suisse AG (CS) - Get Report with an 11-page presentation arguing that the big bank would have a sum-of-the-parts valuation of about 85 billion francs ($86.3 billion), significantly more that its current 40 billion franc market capitalization.
RBR Capital, an occasional activist, proposes that Credit Suisse split into three companies: an investment bank restoring the First Boston name (CS acquired First Boston in 1990); an asset management group; and a third company that would hold its retail and business banking operation.
Elsewhere, President Donald Trump is finally moving to staff the upper ranks of the Federal Trade Commission, providing more clues into how his administration will approach antitrust policy.
Trump has tapped Joseph Simons, current partner and co-chair of the antitrust group at Paul, Weiss, Rifkind, Wharton & Garrison LLP, to head the FTC, the White House announced. He has also selected a Republican and Democrat to fill two other open spots on a normally five-person commission that has in recent months been operating with just two.
For those who don't know, Simons is a Wall Street heavy hitter, having advised a number of large-cap companies, including Microsoft Corp. (MSFT) - Get Report , Mastercard Inc. (MA) - Get Report and Sony Corp. (SNE) - Get Report , on a litany of issues. Notably, Simons pursued the so-called "Three Tenors Case" in which the FTC alleged that the PolyGram Music Group illegally agreed with Warner Communications Inc. to restrict competition for audio and video recordings of the music group the Three Tenors. PolyGram challenged the decision and lost in a Washington, D.C. circuit court.
Under the Trump Presidency and with items like net neutrality, cross-border megadeals and potential tax reform coming down the pike, Simons will play a key role in corporate America going forward, especially if the aforementioned catalysts lead to more M&A.
In case you missed it, TheStreet put out a package of stories this week on Black Monday and the Crash of 1987. It's not too late to catch up here.
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Photo of the day: L.A. Dodgers earn a return to the World Series
In keeping with our '80s theme this week, we take you to Los Angeles in October 1988. Oct. 15, to be exact, was the day that the Dodgers' Kirk Gibson hit his famous Game 1 homer off Dennis Eckersley and stunned the baseball world. Eckersley was the game's most dominant closer and Gibson was hobbled during the '88 season. The New York Yankees and Houston Astros will play tonight on Fox to decide which team will go to face the Dodgers. Fox is hoping for better (relative) ratings for the MLB than the NFL, which put up its worst ratings of the 2017 season earlier this week. Not to mention that now the likes of Amazon are getting into the sports arena and selling ad space for big bucks.
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