On Wednesday, the U.S. awoke to find just how deep the troubles at Credit Suisse (CS) ran. The Swiss bank led a conference call in which it updated analysts and investors on plans to restructure its business as well as problems in its credit department. David Schawel, a fixed-income portfolio manager at New River Investments, offered this assessment of Credit Suisse's woes.
@DavidSchawel trading desk: "we were just providing courtesy back bids, we thought they were good levels at the time"¿ David Schawel (@DavidSchawel) March 23, 2016
Shares of Krispy Kreme (KKD) fell 7.12% to $14.29 on Wednesday after the company reported earnings Tuesday evening that just missed analyst revenues targets. Real Money's Jonathan Heller offered a more optimistic take on the doughnut maker Wednesday, citing its strong balance sheet and "appetizing" buyback program. If Heller's take doesn't warm you to the stock, or doughnuts for that matter, perhaps this photo will.
Ice cream Sandwiches With Krispy Kreme Donuts. pic.twitter.com/CkqdCVcJaC¿ Food Pictures ♡ (@LetsLoveFood) March 23, 2016
Nike (NKE) received spotlight coverage on Real Money with Jim Cramer, Brian Sozzi and Chris Versace each offering their take on the athletic apparel maker. Shares of the company tumbled 3.79% to $62.44 on Wednesday after the company's fourth-quarter earnings release and what Sozzi called a "mixed outlook" for an Olympics year. Nike also attracted (negative) attention following an ESPN report that explained how Nike lost basketball player Steph Curry to Under Amour (UA). However, another theory as to how Nike lost Curry emerged on Twitter.
Finally, given all the chaos in the world, let's take a moment to celebrate #NationalPuppyDay with another shout-out to Krispy Kreme.