Here's Why Shares of Credit Suisse are Lower on Thursday

Shares of Credit Suisse (CS) - Get Report were lower Thursday after the Switzerland-based lender added to its litigation reserves in the third quarter. The company posted a surprise profit of 41 million Swiss Francs for the three months ending in September. But Credit Suisse set aside 357 million Swiss Francs to cover potential litigation. The move comes as more European lenders prepare for a potential fine from the U.S. Department of Justice for mortgage bond sales during the financial crisis. Credit Suisse's CEO says he expects market activity to continue to be influenced by geopolitical and macro-economic uncertainty over the next several quarters and the outlook remains challenged.

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