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.
Mitsubishi UFJ Might Lay Off Employees in Tokyo Equities Arm
Read MoreHide Full Article
Mitsubishi UFJ Financial Group Inc. (MUFG - Free Report) is mulling to lay off five to 10 employees from its securities joint venture with Morgan Stanley (MS - Free Report) , based in Tokyo. The news was reported by Bloomberg.
Mitsubishi UFJ Morgan Stanley Securities Co. (MUMSS) is a joint venture of both the companies created in 2010 as a result of Mitsubishi UFJ's $9 billion investment in Morgan Stanley at the height of a financial crisis in 2008. It is a combination of investment banking operations of the banks.
The layoffs include several managers, per people with knowledge of the matter. Also, some research analysts are likely to exit the company as Mitsubishi UFJ is aiming to reduce costs in the equities business.
While it is seeking to cut expenses, it is also making strategic investments to bolster performance. It recently entered into an alliance with Grab Holdings, the leading super app in Southeast Asia. The company intends to match the growing digital needs and provide innovative financial services leveraging data and AI technology.
Mitsubishi UFJ intends to deepen synergies in its regional network, including its unique partner bank relationships in Southeast Asia and further capture business opportunities in the region.
Mitsubishi UFJ’s focus on other areas to drive its bottom line, as a persistent negative interest rate environment in the domestic economy has been making its lending business less profitable, seems impressive. However, rising costs might deter bottom-line growth.
Shares of the company have gained 1.2% in the past six months against 3.5% decline of the industry.
The company currently carries a Zacks Rank #3 (Hold).
Credit Agricole SA (CRARY - Free Report) has been witnessing upward estimate revisions for the past 60 days. Further, the company’s shares have gained 4.9% in six months’ time. At present, it carries a Zacks Rank of 2.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
Mitsubishi UFJ Might Lay Off Employees in Tokyo Equities Arm
Mitsubishi UFJ Financial Group Inc. (MUFG - Free Report) is mulling to lay off five to 10 employees from its securities joint venture with Morgan Stanley (MS - Free Report) , based in Tokyo. The news was reported by Bloomberg.
Mitsubishi UFJ Morgan Stanley Securities Co. (MUMSS) is a joint venture of both the companies created in 2010 as a result of Mitsubishi UFJ's $9 billion investment in Morgan Stanley at the height of a financial crisis in 2008. It is a combination of investment banking operations of the banks.
The layoffs include several managers, per people with knowledge of the matter. Also, some research analysts are likely to exit the company as Mitsubishi UFJ is aiming to reduce costs in the equities business.
While it is seeking to cut expenses, it is also making strategic investments to bolster performance. It recently entered into an alliance with Grab Holdings, the leading super app in Southeast Asia. The company intends to match the growing digital needs and provide innovative financial services leveraging data and AI technology.
Mitsubishi UFJ intends to deepen synergies in its regional network, including its unique partner bank relationships in Southeast Asia and further capture business opportunities in the region.
Mitsubishi UFJ’s focus on other areas to drive its bottom line, as a persistent negative interest rate environment in the domestic economy has been making its lending business less profitable, seems impressive. However, rising costs might deter bottom-line growth.
Shares of the company have gained 1.2% in the past six months against 3.5% decline of the industry.
The company currently carries a Zacks Rank #3 (Hold).
Key Picks
UBS Group AG (UBS - Free Report) has been witnessing upward estimate revisions for the past 60 days. Additionally, the stock has appreciated 4.9%, over the past six months. It currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Credit Agricole SA (CRARY - Free Report) has been witnessing upward estimate revisions for the past 60 days. Further, the company’s shares have gained 4.9% in six months’ time. At present, it carries a Zacks Rank of 2.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>