Is UBS a Buy After Earnings?
T = Trends for a Stock’s Movement
UBS, a financial services firm, provides wealth management, asset management, and investment banking products and services worldwide. Its Wealth Management division provides financial services to high net worth individuals worldwide. Its Investment Bank division offers products and services in equities, fixed income, foreign exchange, and commodities to corporate and institutional clients, sovereign and government bodies, financial intermediaries, alternative asset managers, and its wealth management clients. UBS Asset Management division offers investment solutions to various asset classes.
UBS has reported a 577 million franc ($644.2 million) profit during the quarter, beating analyst estimates, but the Swiss bank also warned that legal costs could increase as UBS said it has received requests from various authorities regarding its foreign exchange businesses. Swiss authorities have demanded that UBS set aside more funds for litigation, and so UBS likely won’t reach its 2015 profit goals. The results caused shares to drop in Swiss trading this morning.