Home / Eco-Finance / Morgan Stanley (NYSE:MS) Entering into Commodities Trading Business- Credit Suisse (NYSE:CS), Cree (NASDAQ:CREE)

Morgan Stanley (NYSE:MS) Entering into Commodities Trading Business- Credit Suisse (NYSE:CS), Cree (NASDAQ:CREE)

Morgan Stanley (NYSE:MS) [Trend Analysis] retains strong position in active trade, as shares scoring -1.01% to $26.36 in an active trade session, while looking at the shares volume, around 9.59 Million shares have changed hands in this session. Morgan Stanley (MS) declared that it is moving its commodities trading business that has been housed in Purchase, New York, for the last 15 years, to bank’s Times Square headquarters.

The physical move is division of a broader strategy shift for once high-flying team of traders, as Morgan Stanley has moved away from riskier parts of the business, like owning and storing oil or placing bets on the direction of commodity markets. A Morgan Stanley spokesman declared move from buy was among at ensuring the commodities group was more closely connected with the company’s fixed income unit and the broader institutional securities business.

The spokesman did not give further details but a person familiar with the matter said the firm expects to move around 150 employees over the summer. The firm has institutional ownership of 58.10%, while insider ownership included 0.20%. MS attains analyst recommendation of 2.40 with week’s performance of 0.30%. Investors looking further ahead will note that the Price to next year’s EPS is 26.89%.

Shares of Credit Suisse Group AG (NYSE:CS) [Trend Analysis] swings enthusiastically in regular trading session, it a decrease of -3.81% to close at $13.37. Credit Suisse posted its worst start to a year since the financial crisis amid a major restructuring but cost cuts, a healthy performance in private banking and robust capital levels offered investors much-needed comfort.

Switzerland’s second biggest bank has struggled in recent months as tough financial markets complicated Chief Executive Tidjane Thiam’s strategy to focus on wealth management and slim down the investment bank. On Tuesday, Credit Suisse posted a 302 million Swiss franc ($311 million) loss for the first three months of 2016, the Zurich-based bank’s second consecutive quarterly loss. The stock is going forward its fifty-two week low with 12.31% and lagging behind from its 52-week high price with -51.91%. CS last month stock price volatility remained 2.00%.

Cree, Inc. (NASDAQ:CREE) [Trend Analysis] knocking active thrust in leading trading session, shares a loss of -1.34% to 22.90 with around 810642 shares have changed hands in this session. Cree, Inc. (CREE) said that it has filed counterclaims in the U.S. District Court for the Middle District of North Carolina against Feit Electric Company, Inc. to stop infringement of Cree’s patented technologies. The suit alleges infringement of two patents related to LED bulbs.

The patents at issue are U.S. Patent No. 8,998,444 entitled “Solid State Lighting Devices Including Light Mixtures” addressing color mixing in an LED lighting product and U.S. Patent No. 9,052,067 entitled “LED Lamp with High Color Rendering Index” addressing color mixing and a globe that improves omni directional light. The stock is going forward its fifty-two week low with 3.62% and lagging behind from its 52-week high price with -30.44%.

Likewise the positive performance for the quarter recorded as -21.84% and for the year was -26.65%, while the YTD performance remained at -14.14%. CREE has Average True Range for 14 days of 0.76.

About Blake Escott

Blake Escott holds junior writer position in SWR. Before joining Streetwise Report, he was a freelance content Writer. He has high-level copywriting experience and particularly experienced in proofreading and editing. He covers news about different companies including all US market sectors. Interests: Commodities, Energy stocks, Sector-wise Stocks analysis, Utilities

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