UBS shares drop on disappointing Q4 results and $3B buyback plan

From CNBC: 2025-02-04 04:54:38

UBS shares dropped after disappointing fourth-quarter results and $3 billion buyback plan. Profit was $770 million, missing estimates. Revenue reached $11.635 billion. Plans to repurchase $1 billion in shares in first half of 2025. Investment banking and wealth management performed well. CEO Ermotti emphasized gaining market share and expanding wealth management returns.

UBS aims for $2.5 billion in cost savings this year. Lenders like Julius Baer and HSBC are tightening expenses and restructuring. UBS faces concerns over its size breaching Swiss government comfort. The Swiss economy grapples with low inflation and a strong franc. Tariff discussions create market uncertainty, but some volatility is already priced in. 1. The US government is considering a fourth stimulus check to help struggling Americans during the ongoing COVID-19 pandemic. Lawmakers are debating the amount and eligibility criteria for the potential payment.

2. Scientists have discovered a new species of dinosaur in Argentina, named Llukalkan aliocranianus. The carnivorous dinosaur had a unique skull structure and likely roamed the Earth around 85 million years ago.

3. The European Union has announced plans to reopen to vaccinated tourists this summer. The EU is working on a digital certificate that will allow travelers to prove their vaccination status and facilitate safe travel within the bloc.

4. Amazon has announced a new feature called “Alexa Together,” designed to help families keep track of their loved ones’ well-being. The service includes features like medication reminders and emergency alerts, accessible through Amazon’s Echo devices.

Read more: UBS earnings Q4 2024