March 15, 2023
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SVB collapse: Credit Suisse stock falls to record low as Silicon Valley Bank CEO urges clients back – latest

SVB collapse: Credit Suisse stock falls to record low as Silicon Valley Bank CEO urges clients back – latest
Credit Suisse stocks plunged to a new record low, dropping by more than 21 percent on Wednesday as the fallout from the collapse of Silicon Valley Bank (SVB) continues. Shares in the struggling Swiss bank plummeted after its top shareholder Saudi National Bank said it would not provide any further financial assistance. However, Swiss regulators announced that the country’s central bank would give Credit Suisse liquidity if needed, helping mitigate earlier concerns. This comes after Wall Street expert Robert Kiyosaki, famed for predicting the Lehman Brothers’ failure, pegged Credit Suisse as the next major bank most likely to collapse. The concerning outlook for the bank comes as SVB – whose Friday collapse sparked concerns of a financial crisis – is back open for business. New CEO Tim Mayopoulos urged customers to return to the bank, saying it is now opening new accounts and making new loans. He served as CEO of Fannie Mae bringing it back to profitability after the 2008 financial crisis. Six regional financial institutions remain under tight scrutiny but the response from regulators to protect depositors appears to have addressed market concerns.
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Neogen, Maxeon Solar Technologies And 3 Stocks To Watch Heading Into Tuesday
With U.S. stock futures trading slightly higher this morning on Tuesday, some of the stocks that may grab investor focus today are as follows: Wall Street expects Neogen Corporation (NASDAQ: NEOG) to report quarterly earnings at 14 cents per share on revenue of $230.01 million before the opening bell, according to data from Benzinga Pro. Neogen shares gained 0.2% to close at $14.38 on Monday. Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN) said it sees preliminary fourth-quarter revenue of $229 million versus market estimates of $235.959 million. Maxeon Solar shares fell 6.6% to $2.55 in ...Full story available on Benzinga.com
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