UBS AI correction view comes as profit rises and buyback is unveiled
UBS reported $2.8 billion in second-quarter net profit as Sergio Ermotti called the AI pullback healthy and warned on geopolitics.
By Marcus V. Thorne 2 months agoMarkets Editor
Marcus V. Thorne
Marcus writes the market wraps and the flows analysis: equities, volatility, and the positioning behind the tape.
Latest from Marcus V. Thorne
Corning stock sinks after earnings beat as AI trade unwinds
Corning shares fell more than 18% even as revenue and adjusted profit beat estimates, with CNBC citing pressure across AI-linked s...
By Marcus V. Thorne 2 months ago
Ukraine Wildberries drone attacks pressure Russia’s war economy
Kyiv is striking Wildberries logistics sites as analysts say Russia faces weaker growth, sanctions risk and rising business costs.
By Marcus V. Thorne 2 months ago
Warren questions Pentagon BOND program over Wall Street hiring
Sen. Elizabeth Warren asked the Defense Department to explain ethics controls around private-sector recruits and high-paid Wall St...
By Marcus V. Thorne 2 months ago
Providence says AI fatigue is supporting live events demand
Karim Tabet told PE Hub that cheaper AI content is raising the value of scarce in-person events, while IPL deal interest is rising...
By Marcus V. Thorne 2 months ago
Iran missile attack on U.S. forces intercepted, Centcom says
Centcom said Iran fired multiple ballistic missiles at U.S. forces in the Middle East, with crude prices rising more than 4%.
By Marcus V. Thorne 2 months ago
Providence Equity exits see signs of thaw as sellers reset prices
Karim Tabet told PE Hub AI is reshaping Providence’s deal focus as exit pressure narrows gaps between buyers and sellers.
By Marcus V. Thorne 2 months ago
xAI challenges Minnesota nudify law in federal court
Elon Musk’s xAI sued Minnesota over a law targeting non-consensual sexualized AI images, with fines of $500,000 per violation.
By Marcus V. Thorne 2 months ago
Dow rises as AI stocks fall and Dover buys Cloeren
The Dow gained more than 500 points while AI-linked hardware shares slid, as investors rotated toward blue chips and software.
By Marcus V. Thorne 2 months ago
Johnson & Johnson talc settlement lifts shares to record high
J&J shares hit a record after a $5.5 billion talc deal covering about 76,000 ovarian cancer claims, CNBC reported.
By Marcus V. Thorne 2 months ago
SpaceX lockup earnings test follows $1.5 trillion Musk stock selloff
SpaceX and Tesla have lost $1.5 trillion in value since mid-June as traders brace for earnings and an insider lockup release.
By Marcus V. Thorne 2 months ago
Strategic Petroleum Reserve drawdown strains aging U.S. oil backup
U.S. crude reserves have hit their lowest level since 1983 as recent releases test aging emergency oil infrastructure.
By Marcus V. Thorne 2 months ago