Strong Q3 Results Show UBS's Effective Business Model, But Delayed Profit Goal Hurts Shares

UBS saw its shares tank nearly 6% over trading on Tuesday, November 3, despite reporting a better-than-expected performance for the third quarter, as investors chose to focus on the bank's updated performance goals for coming years. On the positive side, the largest Swiss bank bucked the trend of a year-on-year reduction in trading revenues seen across the industry to report a sharp improvement in fixed income and equities trading revenues. The bank also did well to ensure that its non-interest ...