Credit Suisse sees 96% plunge in equity trading revenue, plus other stocks on the move

Yahoo Finance Live’s Julie Hyman breaks down stock performance for Credit Suisse, AbbVie, and Kellogg.

Video Transcript

JULIE HYMAN: Let's take a little walk through the trending ticker page from yahoofinance.com. And there we find, among other movers, Credit Suisse, which is down 12% today. If you look at its year-to-date performance, shows you a 3% gain with the drop in today's session and that 69% decline over the last year. The company today reported that it's going to see another loss this year after its worst annual performance since the financial crisis and its fifth straight quarterly loss of about $1 and 1/2 billion. Customers withdrawing $100 billion last quarter.

The company saw a 96% plunge in equity trading revenue and 84% drop in fixed income trading revenue. Wealth Management revenue down 17%. You get the idea. Things are tough over there at Credit Suisse, even as it prepares a spinoff of its CS First Boston unit and did a transaction to that effect today. So those shares are trading down sharply.

But elsewhere, in some of the movers that we're looking at today, we have AbbVie switching back over to its daily performance. The shares are up 3 and 1/2%. Abbvie's a really interesting one because its blockbuster anti-inflammatory drug, Humira, is a $20 billion annual drug for it. And it's lost patent protection for the first time. Last quarter was the last full quarter in which it had exclusivity here in the United States.

And in that quarter, it narrowly beat analysts' estimates, but analysts are now having a hard time picturing what does AbbVie look like without this huge drug. The company forecasting adjusted earnings per share this year of $10.70 to $11.10. Some analysts were below that, but again, they're having some trouble gaming this out. All of that said, the shares are reacting well to the numbers today.

And I wanted to get to Kellogg as well. Those shares are not moving as much, but they are trending because folks are looking at these numbers. The company has now said it decided to retain its plant-based business as it prepares to split up the company. Earnings beat estimates, sales rising 12% ahead of estimates as well.

So those are some of the trending tickers here. Just to give you a little walkthrough, as I said, Tesla is also on that list. Disney, as you might imagine, is on that list. Pepsi, whose CFO we talked to earlier, and Alphabet still trending. Investors and retail traders still very interested in Alphabet, as it falls another 3% today.