Diversified Capital Markets

UBS AG (NYSE: UBS) has hired Patrick Mortimer, a former Morgan Stanley (NYSE: MS) US prime-brokerage head, to oversee hedge-fund relationships. Patrick will join as a senior relationship manager in the bank’s prime brokerage unit, the unit that loans securities and cash to hedge funds. Mortimer...

• UBS (NYSE:UBS) began coverage of Bank of America (NYSE:BAC) with a "buy" rating after the company named Brian Moynihan as its new CEO • General Mills (NYSE:GIS) posted fiscal second quarter earnings of $1.54 a share, versus Zacks estimates of $1.45 a share on sales of $4.08 billion. Citing first...

Bloomberg reported that the Credit Suisse Group AG (ADR) (NYSE: CS) has agreed to pay $536 million to settle claims. The bank was accused of processing payments that let countries like Iran avoid government sanctions and gain access to US financial markets. Credit Suisse had set aside funds...

Deutsche Bank (NYSE: DB)(FREE stock trend analysis) recommended “Hold” rating on General Electric (NYSE: GE)(FREE stock trend analysis) after the company’s CEO Jeff Immelt addressed the 2010 outlook meeting. As expected, the management focused on the transformation that is occurring within the GE...

The Electric Utilities research team at Credit Suisse (NYSE: CS) has downgraded the stock of Allegheny Energy Inc. (NYSE: AYE) to Neutral. The repeated inability to meet forecasts, a sub – optimal management of commodity costs and a higher rating by the Street are the main reasons cited by the...

• General Electric (NYSE:GE) told investors the "worst is over" for its finance unit, even as Chairman and CEO Immelt forecast next year's revenues and earnings are likely to match this year's • Best Buy (NYSE:BBY) was downgraded to "sell" from "buy," reflecting the third quarter earnings numbers...

Credit Suisse (ADR) (NYSE: CS) is expected to pay an amount of $536 million to the federal government as it violated the rules under which US regulated financial institutions cannot do business with sanctioned countries like Iran or Sudan. The bank said it was in talks with the Manhattan District...

UBS (NYSE: UBS)(FREE stock trend analysis) upgraded Qwest Communications International Inc. (NYSE: Q)(FREE stock trend analysis) to buy from neutral and reported that the company could be a takeover candidate for one of the rural telephone operators. The shares of Qwest rose by as much as 5...

Below are the top 5 large-cap stocks on the NYSE and the NASDAQ in terms of the highest cash per share. Berkshire Hathaway Inc (NYSE: BRK-A) has cash per share of $17,350. BRK-A’s market capitalization is $154.32 billion. Credit Suisse upgraded CM from “underperform” to “neutral.” Goldman Sachs...

Marcel Ospel, the former Chairman of UBS AG (USA)(FREE stock trend analysis) (NYSE: UBS)(FREE stock trend analysis) and the former Counsel-General, Peter Kurer, are not to face a criminal probe over whether they had prior knowledge about employees of the bank helping US clients evade taxes. UBS...

The Apollo Group (NASDAQ: APOL)(FREE stock trend analysis) has announced that its subsidiary, the University of Phoenix, will settle a pending qui tam lawsuit. The terms are yet to be disclosed for this widely anticipated settlement. The lawsuit was originally filed in 2003, claiming that the...

• Charles Schwab (NASDAQ:SCHW) said it expects fourth quarter earnings ex-items of about 13 cents to 15 cents per share, short of Street estimates of 17 cents, citing lower interest rates and light trading volume • Goldman Sachs (NYSE:GS) began coverage of IPO Hyatt (NYSE:H) with a "buy" rating and...