Oct. 27, 2015, 6:02 PM
- The HP Inc. PC/printing unit, which will trade under the current HPQ symbol, will keep the pre-breakup company's spot in the S&P 500, but not in the S&P 100, where BlackRock (NYSE:BLK) will take its place.
- Meanwhile, MarketAxess (NASDAQ:MKTX) will replace City National (about to be acquired) in the S&P MidCap 400. Ameris Bancorp (NASDAQ:ABCB) will take MarketAxess' spot in the S&P SmallCap 600.
- Exterran Holdings' (NYSE:EXH) Exterran Corp. spinoff (symbol of EXTN) will replace Ion Geophysical (NYSE:IO) in the 600 following the Nov. 4 close. Exterran, which is changing its name to Archrock (symbol of AROC), will remain in the 600.
- HPQ +1.1% after hours. BLK +0.5%.
Oct. 22, 2015, 10:18 AM
- Perhaps the bad news is priced in as sluggish earnings from Franklin Resources (up 4.6%), Janus Capital (JNS +4.3%), and T. Rowe Price (TROW +4.8%) are bought.
- BlackRock (BLK +2.5%), Legg Mason (LM +3.7%), Calamos (CLMS +2.8%), Invesco (IVZ +3.7%), Affiliated Managers (AMG +3.2%), Federated Investors (FII +2.2%), Waddell & Reed (WDR +2.3%), Artisan Partners (APAM +2.9%), Eaton Vance (EV +3.3%). The biggest mover of all today is ETF provider WisdomTree (WETF +7.8%).
- Previously: So bad it's good - Franklin Resources jumps after lame results (Oct. 22)
- Previously: AUM and earnings down at T. Rowe Price (Oct. 22)
- Previously: Assets and earnings slip at Janus (Oct. 22)
Jul. 15, 2015, 7:43 AM
- Q2 adjusted net income of $838M or $4.96 per share vs. $837M and $4.89 one year ago.
- AUM of $4.72T up 3% Y/Y.
- Retail: Q2 net flows of $10.8B, June 30 AUM of $561B, Q2 base fees of $839M. AUM as a percent of total of 13%; base fees as a percent of total of 34%.
- iShares: Q2 net flows of $10.9B, June 30 AUM of $1.08T, Q2 base fees of $884M. AUM as a percent of total of 24%; base fees as a percent of total of 36%.
- Active: Q2 net flows of $2.5B, June 30 AUM of $975.5B, Q2 base fees of $483M. June 30 AUM as a percent of total of 22%; base fees as a percent of total of 20%.
- Index: Q2 net outflows of $31.4B, June 30 AUM of $1.8T, Q2 base fees of $252M. June 30 AUM as a percent of total of 41%; base fees as a percent of total of 10%.
- Conference call at 8:30 ET
- Previously: BlackRock beats by $0.16, beats on revenue (July 15)
- BLK +1% premarket
Jun. 8, 2015, 9:56 AM
- Artisan Partners Asset Management (APAM +3.2%) is started at Conviction Buy with $53 price target at Goldman Sachs. Rated at Buy are Affiliated Managers Group (AMG -0.2%), BlackRock (BLK -0.1%), and Janus Capital (JNS -2.3%).
- Initiated with a Sell rating is Franklin Resources (BEN -0.7%).
- Started at Neutral are Fifth Street Asset Management (FSAM -0.9%), Invesco (IVZ +0.9%), Medley Management (MDLY -0.8%), Virtus Investment (VRTS -2.1%), and WisdomTree (WETF -0.9%).
Dec. 4, 2014, 10:19 AM
- In private-equity, Blackstone (BX +1.4%) and KKR & Co. (KKR +0.9%) post gains after being initiated with Overweight ratings, while Carlyle Group (CG -1%) and Oaktree Capital (OAK -0.5%) are started at Equal Weight.
- Moving onto traditional asset managers, Invesco (IVZ -0.5%) is rated Overweight, while T. Rowe Price (TROW -0.3%), Legg Mason (LM -1.5%), Franklin Resources (BEN -0.9%), and BlackRock (BLK -0.2%) are all started at Equal Weight.
Oct. 15, 2014, 7:37 AM
- Q3 adjusted net income of $890M or $5.21 per share vs. $672M and $3.88 one year ago. Adjusted operating income of $1.214B up 24% from a year ago, with adjusted operating margin of 44.2% up a whopping 300 basis points.
- $250M of shares repurchased during quarter.
- Retail net flows of $4.86B brings Sept. 30 AUM to $525.479B. AUM as a percent of total is 12%. Base fees of $846M is 35% of total
- iShares net flows of $18.209B brings Sept. 30 AUM to $974.170B. AUM as a percent of total is 23%. Base fees of $850M is 35% of total.
- Boosted fixed-income strategy paying off, with 87% of taxable fixed-income assets outperforming benchmarks over 3-year period.
- Conference call at 8:30 ET
- Previously: BlackRock beats by $0.55, beats on revenue
- BLK +1.4% premarket
Jul. 16, 2014, 7:49 AM
- Adjusted net income of $837M or $4.89 per share compares to $722M or $4.15 a year ago. Adjusted operating margin of 42.4% gains 110 basis points.
- AUM of $4.593T up 19% Y/Y, with $38B of long-term net inflows during Q2. Q2 retail net inflows of $13.1B brings AUM to $534B. iShares inflows of $30.4B brings AUM to just under $1T.
- CC at 8:30 ET
- Previously: BlackRock beats by $0.43, beats on revenue
- BLK +1% premarket
Apr. 4, 2014, 5:37 PM
Jan. 16, 2014, 7:06 AM
- The quarterly dividend is boosted by 15% to $1.93 per share for an annualized yield of 2.47%. $250M of share repurchases brings total to $1B for the year.
- Q4 EPS of $4.92 is up 24% Y/Y. Operating margin of 42.7% is up 10 basis points from a year ago.
- Total inflows of $40.5B during Q, with iShares inflows of $19.1B.
- CC at 8:30 ET
- BLK +3.5% premarket
Nov. 22, 2013, 3:59 PM
- It's a big day for WisdomTree (WETF +7.7%) after filings show iShares' (BLK +0.1%) plan to launch a set of currency-hedged ETFs is delayed - now "a 2014 story," says Susquehanna's Doug Sipkin.
- A big force behind WisdomTree's more than doubling in price this year is the runaway success of its currency-hedged Japan ETF (DXJ), and the delay from iShares gives it more time to wrack up assets at a time when the yen has renewed its downtrend and Japanese shares have resumed going higher. WisdomTree also has currency-hedged funds for Europe, Germany, and Korea.
- It's party time right now, but Sipkin is cautious longer-term thanks to the scale and distribution iShares will bring to the space on its funds do get launched.
Jun. 20, 2013, 11:07 AM
BlackRock's (BLK -6.1%) stock takes no comfort from Stifel Nicolaus bumping its price target to $286 from $265, noting an improved outlook for earnings following a meeting with management. ETF outflows in May and June are being offset by market share gains and better margins, says Stifel.| Jun. 20, 2013, 11:07 AM
Apr. 10, 2013, 6:15 PM
Jan. 11, 2012, 5:19 AM
Dec. 15, 2011, 12:16 PM
Financial planner Waddell & Reed (WDR +3.1%) hikes its dividend a surprising 25% to $0.25/share, a meaningful margin over the average 3.3% from its peers, Citi analyst William Katz says. Still, Katz prefers Invesco (IVZ), where he sees stronger growth vs. WDR, and BlackRock (BLK) for its "improving consistency in organic growth."| Dec. 15, 2011, 12:16 PM
Aug. 11, 2011, 11:46 AMAmong financial names showing strength are three Goldman Sachs added to its Conviction Buy list this morning: Knight Capital (KCG +7.2%), Nasdaq (NDAQ +4.9%), BlackRock (BLK +3.5%). Goldman upgraded these financials to Buy from Neutral: ICE +5.1%, OZM +5.4%, BEN +2.6%, GFIG +10.7%, AIZ +3.6%. | Aug. 11, 2011, 11:46 AM