Back to top
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
The Goldman Sachs Group, Inc. (GS) - free report >>
Morgan Stanley (MS) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
The Goldman Sachs Group, Inc. (GS) - free report >>
Morgan Stanley (MS) - free report >>
Image: Shutterstock
UBS Group Gets Nod to Set Up Majority-Owned JV in Brazil
UBS Group AG (UBS - Free Report) has been granted approval by the Brazilian central bank for setting up a majority-owned joint venture (JV) in Brazil, per Reuters. The company will form this JV with state-governed Banco do Brasil SA.
The companies announced last November about forming a partnership and set up a new investment banking unit. UBS Group will hold a stake of 50.01% in the JV.
Banco do Brasil informed that the management structure of the newly-formed bank will be announced as soon as the JV is formalized.
The JV will allow UBS Group to gain further access to the burgeoning market of Brazil, which is presently witnessing many new share offerings by companies to raise capital. Moreover, Banco do Brasil’s standing as the second largest bank in Brazil by assets, along with its vast client base and strong financials, will aid UBS Group to gain a strong foothold in the country.
Shares of this Zacks Rank #2 (Buy) company have appreciated 18.1% over the past year, while its industry has declined 19.1%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In addition to UBS Group, various global finance companies are seeking to expand their operations on foreign shores, especially China. Many of these firms are already banking on the options available. Recently, BlackRock (BLK - Free Report) got the green light to set up a majority-owned JV in China.
Banks like Goldman Sachs (GS - Free Report) , Morgan Stanley (MS - Free Report) and Nomura Holdings have either received approvals or are waiting for the same to increase stakes in their respective JVs in China.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>