Latest news with #UBS
Yahoo
2 hours ago
- Automotive
- Yahoo
Tesla (TSLA): UBS Says It's Still Overvalued—Watch Musk's Next Comments
Tesla, Inc. (NASDAQ:) is one of the . On July 14, UBS reiterated the stock as 'Sell,' stating that the stock remains overvalued heading into its second-quarter results. This is despite expectations that there would be a sector-wide beat on production, and currency gains are offering near-term support for auto stocks. 'We expect 2Q25 results to largely beat expectations on better production and FX.' Regardless, the firm is cautious despite earnings momentum. 'There has been a ~20% re-rating, on average,' since March, UBS noted, warning that 'core issues that existed pre-tariff mostly remain.' Specifically for Tesla, the firm said that there is regulatory risk and policy uncertainty. 'We see real risk to regulatory credit revenue for both TSLA and RIVN as well as demand with removal of EV credits.' The firm stated that underlying valuation concerns still exist even though the third quarter 'could have a last gasp and pulled forward demand.' CEO commentary and sentiments may drive near-term volatility. 'We believe TSLA remains fundamentally overvalued, but the price reaction will depend on Musk's call comments.' Tesla, Inc. (NASDAQ:TSLA) is an automotive and clean energy company that leverages advanced artificial intelligence in its autonomous driving technology and robotics initiatives. While we acknowledge the potential of TSLA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 hours ago
- Business
- Yahoo
Chinese AI firm MiniMax targets $4 billion-plus valuation in Hong Kong IPO, sources say
By Kane Wu, Liam Mo and Che Pan HONG KONG (Reuters) -Chinese AI startup MiniMax has filed confidentially for a Hong Kong initial public offering, targeting a valuation of over $4 billion in the flotation, which could happen before the end of this year, three people with knowledge of the matter said. MiniMax could raise HK$4 billion to HK$5 billion ($510 million to $637 million) in the IPO, one of the sources said. China International Capital Corp and UBS have been hired as sponsors for the IPO, the sources said. The IPO size and valuation could change, subject to market conditions, added the sources, all of whom declined to be named as the information was not public. MiniMax and CICC did not immediately respond to Reuters requests for comment. UBS declined to comment. The Wall Street Journal first reported MiniMax's Hong Kong IPO filing on Wednesday. MiniMax is among the first batch of Chinese artificial intelligence companies to seek a public listing. The rise of DeepSeek, China's answer to ChatGPT, earlier this year has boosted interest in domestic AI products and in the sector from investors. Rival Zhipu AI in April also kicked off onshore IPO plans with CICC as its sponsor, Reuters reported at the time, citing a regulatory filing. Founded in early 2022 by former SenseTime executive Yan Junjie, MiniMax has emerged as one of China's prominent AI companies during the generative AI boom. The company develops multimodal AI models including MiniMax M1, Hailuo-02, Speech-02 and Music-01, which can process text, audio, images, video and music. MiniMax's models and products have served over 157 million individual users across over 200 countries and regions, and more than 50,000 enterprises and developers across over 90 countries and regions, its website says. The company, which has raised over $850 million since 2023, counts Chinese tech giant Alibaba Group and an entity under Tencent Holdings, as well as Hongshan Capital Group, Hillhouse Investment and Yunqi Capital, as investors, according to media reports. ($1 = 7.8496 Hong Kong dollars) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
8 hours ago
- Business
- Yahoo
UBS Japan appoints former veteran Toriyama as head of global banking
TOKYO (Reuters) -Swiss Bank UBS has re-hired Masazumi Toriyama to head its Japanese unit's global banking division, according to an internal memo seen by Reuters and confirmed by the company on Wednesday. Toriyama, who previously spent 18 years at UBS, will start on August 4, replacing interim head Yasunori Saku, who will become chairman of Global Banking Japan, the memo said. The moves are part of an ongoing expansion targeting a 50% increase in the division's headcount, a UBS spokesperson said. UBS is the latest foreign bank to expand its investment banking offering in Japan as the return of inflation and corporate governance changes has spurred M&A deal-making among Japanese firms. Earlier in July Citigroup Inc hired veteran investment banker Akira Kiyota from Nomura Holdings and promoted insider Taiji Nagasaka as co-heads of investment banking for Japan. UBS's Global Banking Japan current chairman, Aki Nakagawa, will move to a general advisory role, while Masashi Oka, an independent director at Japanese technology firm NEC Corp, will join as senior adviser, the memo said.
CNA
8 hours ago
- Business
- CNA
UBS Japan appoints former veteran Toriyama as head of global banking
TOKYO :Swiss Bank UBS has re-hired Masazumi Toriyama to head its Japanese unit's global banking division, according to an internal memo seen by Reuters and confirmed by the company on Wednesday. Toriyama, who previously spent 18 years at UBS, will start on August 4, replacing interim head Yasunori Saku, who will become chairman of Global Banking Japan, the memo said. The moves are part of an ongoing expansion targeting a 50 per cent increase in the division's headcount, a UBS spokesperson said. UBS is the latest foreign bank to expand its investment banking offering in Japan as the return of inflation and corporate governance changes has spurred M&A deal-making among Japanese firms. Earlier in July Citigroup Inc hired veteran investment banker Akira Kiyota from Nomura Holdings and promoted insider Taiji Nagasaka as co-heads of investment banking for Japan. UBS's Global Banking Japan current chairman, Aki Nakagawa, will move to a general advisory role, while Masashi Oka, an independent director at Japanese technology firm NEC Corp, will join as senior adviser, the memo said.
Yahoo
8 hours ago
- Business
- Yahoo
UBS Japan appoints former veteran Toriyama as head of global banking
TOKYO (Reuters) -Swiss Bank UBS has re-hired Masazumi Toriyama to head its Japanese unit's global banking division, according to an internal memo seen by Reuters and confirmed by the company on Wednesday. Toriyama, who previously spent 18 years at UBS, will start on August 4, replacing interim head Yasunori Saku, who will become chairman of Global Banking Japan, the memo said. The moves are part of an ongoing expansion targeting a 50% increase in the division's headcount, a UBS spokesperson said. UBS is the latest foreign bank to expand its investment banking offering in Japan as the return of inflation and corporate governance changes has spurred M&A deal-making among Japanese firms. Earlier in July Citigroup Inc hired veteran investment banker Akira Kiyota from Nomura Holdings and promoted insider Taiji Nagasaka as co-heads of investment banking for Japan. UBS's Global Banking Japan current chairman, Aki Nakagawa, will move to a general advisory role, while Masashi Oka, an independent director at Japanese technology firm NEC Corp, will join as senior adviser, the memo said. Sign in to access your portfolio
