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BLK

BlackRock, Inc.

5/23/2013, 1:01 PM ET

Quote & Headlines Market Currents StockTalk

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Tuesday, May 21, 7:23 AM BlackRock (BLK) fills a void, purchasing P-E property investment advisory firm MGPA ($12B AUM) to boost its Asian real estate business. The transaction - price undisclosed - is expected to close in Q3 and won't materially affect EPS, says BlackRock. Comment! [Financials]
Tuesday, May 21, 7:03 AM BlackRock (BLK) is upgraded to Buy at Macquarie, with price target lifted to $315 from $253. The asset manager is up 40% YTD, up 68% Y/Y. Comment! [Financials]
Thursday, May 16, 1:28 PM Fund managers like BlackRock (BLK) and Legg Mason (LM) get ahead of what could be a "seismic reallocation of assets" by launching "ultra-short" funds with floating NAVs ahead of new money market regulations. These funds are different than the "ultra-short" funds which ran into trouble in 2008 in that their maturities are even shorter and they can only invest in high-grade debt. Somewhat similar ETF offerings: SHV, MINT, BIL, PVI, GSY, VRD, RAVI. 1 Comment [Financials]
Thursday, May 2, 7:08 AM BlackRock (BLK) plans to hire another 300 attorneys to deal with fragmented global regulation, says CEO Larry FInk. "And I'm not the one being regulated, I'm not a bank." Instead, BlackRock is the world's largest owner of bank equity and debt and needs to follow along closely. "There is no consistent manner in which bank resolution will be applied ... It is a mess." Comment! [Financials]
Friday, April 26, 3:05 PM BlackRock director (and Bank of America co-COO) Thomas Montag purchased 5K shares of BLK last week at $248.64 each - a total amount of nearly $1.25M. According to the SEC Form 4, it's his first direct holdings of BlackRock (he's been on the board about 2 years). Comment! [Financials]
Friday, April 19, 8:50 AM Lloyds (LYG) reportedly hires Deutsche Bank to advise on a sale of fund-management unti Scottish Widows Investment. The sluggish low-margin business is a drag on Lloyds - which needs to raise capital and pay off bailout loans - but would be of great value to a buyer with scale like BlackRock (BLK). Comment! [Financials]
Thursday, April 18, 9:39 AM BlackRock (BLK) expands its ETF franchise, for the first time launching funds developed jointly between iShares and an end-client (Arizona State Retirement System). New offerings: MTUM, SIZE, VLUE. Another first is the launch of two actively-managed funds, the Enhanced Large-Cap ETF (IELG) and the Enhanced Small-Cap ETF (IESM). Comment! [Financials]
Tuesday, April 16, 12:35 PM A casualty of the swoon in gold may be State Street's (STT) ETF market share thanks to outflows ($9.9B YTD) from its popular GLD ETF. State Street is the only one of the big 3 U.S. ETF providers to experience net ETF outflows in Q1, losing $6.4B while BlackRock (BLK) gained $17.6B and Vanguard added $19.7B. Comment! [Financials]
Tuesday, April 16, 7:28 AM More on BlackRock (BLK) Q1 earnings: iShares revenue +20.7% Y/Y. Total AUM +7% Y/Y to $3.936T. Adjusted operating margin of 40%, up 140 bps from a year ago. Equity funds had net inflows of $33.7B vs. outflows for fixed income and commodities of $2.6B and $2.2B, respectively. Shares +0.5% premarket. (PR) Comment! [Earnings, Financials]
Tuesday, April 16, 6:31 AM BlackRock (BLK): Q1 EPS of $3.65 beats by $0.04. Revenue of $2.45B (+9% Y/Y) beats by $0.03B. (PR) Comment! [Earnings, Breaking News, Financials]
Tuesday, April 16, 12:05 AM Notable earnings before Tuesday’s open: AMTD, BLK, CMA, GS, GWW, JNJ, KO, NTRS, USB, WWW Comment! [Earnings]
Monday, April 15, 5:30 PM Notable earnings before Tuesday’s open: AMTD, BLK, CMA, GS, GWW, JNJ, KO, NTRS, USB, WWW Comment! [Earnings]
Wednesday, April 10, 6:15 PM After-hours top gainers, as of 5:45 p.m.: AEZS +29%. ZUMZ +10%. PCYG +4%. BLK +4%. MDU +3%.
After-hours top losers: FTNT -15%. APOG -7%. EQIX -4%. FIRE -4%. YUM -3%. Comment! [On the Move]
Monday, April 8, 12:12 PM Assets at ETPs hit an all-time high of $2.09T after record net inflows of $73.4B in Q1, according to ETFGI. The vast majority of Q1's flows went into equity ETPs, while commodity-related funds saw outflows of $7.9B (more on commodity disenchantment). iShares (BLK) - with assets of $809B - is the largest ETP provider, with SPDRs (STT) #2, and Vanguard #3. The top 3 together account for 69.5% of global ETP assets. Comment!
Tuesday, April 2, 10:56 AM Vanguard quickly shoots down a FT article suggesting the firm is leaning towards free ETFs, telling Barron's all investment products have costs, and Vanguard has no intention of eating them. It may not matter, writes Brendan Conway. With ETF expense ratios of 4 of 5 basis points, factors like tracking error are of more import. Comment! [Financials]
Tuesday, March 19, 11:48 AM BlackRock (BLK) is set to lay off nearly 300 employees - about 3% of its workforce - reports Reuters, citing a company memo. "These moves ... will make us a more agile organization better positioned to respond to changing client and market needs," says President Rob Kapito. 2 Comments [Financials]

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