UBS

UBS Group AG has notified Bang & Olufsen A/S of crossing the 5% major shareholder threshold, holding 7,768,727 shares (5.27% of total share capital and voting rights) as of October 9, 2026. This notification was made pursuant to the Danish Capital Markets Act.

PJT Partners stock fell 1.46% on Wednesday following downbeat analyst moves. Keefe, Bruyette & Woods downgraded the stock to market perform from outperform with a price target cut from $195 to $159, citing concerns about slowing M&A growth.

UBS also reduced its price target from $176 to $165. The declines reflect worries that rising interest rates are making companies more hesitant to pursue debt-funded deals, pressuring the boutique investment bank's advisory business.

UBS has agreed to transfer its former Credit Suisse fund administration businesses in Switzerland and Luxembourg to Northern Trust Corporation. The transaction, expected to close in Q2 2027, is part of UBS's post-Credit Suisse integration simplification efforts. Northern Trust will gain recurring fee income and increased fund administration scale, while UBS will reduce operational complexity and focus on core businesses.