Solid Earnings Beat for Best Idea Credit Suisse
Narrow-moat Best Idea Credit Suisse beat consensus expectations for the second quarter running by reporting second-quarter pretax profits of CHF 1.1 billion, an 81% year-on-year increase; consensus expected CHF 0.9 billion. Previously we did not model restructuring expenses, which Credit Suisse views as nonrecurring. However, we now pencil in CHF 500 million in restructuring expenses for fiscal 2018; this is the main driver of a 15% cut to our 2018 pretax profit estimate, to CHF 4 billion. We ma...Credit Suisse is a financial services provider based in Switzerland. Co. is active as an integrated bank. Co. operates through two global divisions, Private Banking and Corporate & Institutional Banking. Co. offers comprehensive advice and a broad range of financial solutions to private, corporate and institutional clients primarily domiciled in Switzerland. Co. maintains operations in three regionally focused divisions: Swiss Universal Bank, Asia Pacific and International Wealth Management serving Western Europe, Central and Eastern Europe, Latin America and Africa.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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