PacWest Bancorp

Credit Suisse, UBS, First Republic, New York Community, PacWest, and More Movers

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Credit Suisse, UBS, First Republic, New York Community, PacWest, and More Movers

American depositary receipts of Swiss bank Credit Suisse (ticker: CS) plunged more than 47% to about 83 cents after larger rival UBS (UBS) agreed to buy Credit Suisse in a deal valued at about $3.2 billion. The merger of Switzerland’s two largest banks—engineered over the weekend by Swiss authorities—comes against a backdrop of industry turmoil. U.S.-listed shares … Read more

First Republic Stock Falls Despite $30 Billion Big Banks Rescue Package

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First Republic Stock Falls Despite $30 Billion Big Banks Rescue Package

Regional bank stocks fell Friday even after the country’s biggest lenders agreed to inject $30 billion in uninsured deposits into First Republic Bank . The rescue plan, involving many of America’s largest banks, including Bank of America (ticker: BAC), Citigroup (C), and JPMorgan Chase (JPM), initially brought some relief to shares of regional banks but … Read more