451.45 +1.13 (0.25%)
After hours: 5:12PM EDT
|Bid||441.57 x 1000|
|Ask||460.00 x 900|
|Day's Range||449.00 - 455.26|
|52 Week Range||360.79 - 487.45|
|Beta (3Y Monthly)||1.45|
|PE Ratio (TTM)||17.39|
|Earnings Date||Jan 14, 2020 - Jan 20, 2020|
|Forward Dividend & Yield||13.20 (2.91%)|
|1y Target Est||504.36|
It's been an exciting year in the bond market and Sean Carney, BlackRock Head of Municipal Bond Strategy, sits down with Yahoo Finance's Myles Udland and Brian Cheung to discuss the oft-overlooked muni market.
Yahoo Finance’s Ines Ferre is live from the NYSE to break down the market action for Aphria, Blackrock, and Bloomin’ Brands.
(Bloomberg) -- About eight months after its last funding round, data analytics startup Databricks Inc. said on Tuesday that it has raised $400 million from investors, bringing its funding total to nearly $900 million.The latest deal values Databricks at $6.2 billion, more than double the $2.75 billion price tag investors gave the company in February. The funding round included existing backers Microsoft Corp. and Andreessen Horowitz, as well as new investors Tiger Global Management, and accounts managed by BlackRock Inc. and T. Rowe Price Group Inc.Ben Horowitz, an Andreessen Horowitz general partner, praised Databricks Chief Executive Officer Ali Ghodsi: “Ali is the best CEO that I’ve ever worked with,” and added that many companies struggled with making sense of their data. “AI-based insight is extremely difficult,” Horowitz said. “Databricks simplifies it from a performance standpoint that makes it easy and practical.”Databricks has more than 5,000 customers, including Viacom Inc., HP Inc. and Cisco Systems Inc., Ghodsi said. The startup sells tools aimed at helping those companies organize their data, and uses artificial intelligence to enable them to understand and search for information. Microsoft is both an investor in and a partner of Databricks, and integrates a version of the startup’s software into its cloud product, Microsoft Azure.Databricks more than doubled its annual recurring revenue over the last year, the company said. If it extrapolated out its most recent quarterly revenue for the next year, annual sales would total more than $200 million. “We’ve had tremendous traction,” Ghodsi said.The six-year-old San Francisco-based startup plans to use some of its new cash influx on overseas hiring. “The biggest engineering issue we’ve faced in the last two years has been with visas,” Ghodsi said. “It’s been harder to get employees to the United States because of green card issues and visa issues. It’s also been harder to keep our employees here in the U.S.”In part to address that problem, Databricks will spend about $111 million on its new European Development Center in Amsterdam over the next three years. The company has tripled the size of its engineering team in the Dutch city in the past two years. “What we are finding is it’s easier and less expensive to hire anywhere than in San Francisco,” said Horowitz, who is on the Databricks board. He added that there’s room for expansion in Europe.On Tuesday, Databricks also announced it had hired Dave Conte as its new chief financial officer. Conte previously spent eight years as the CFO of Splunk Inc., where he helped take the company public.(Company corrects the number of customers in the fourth paragraph.)To contact the author of this story: Candy Cheng in San Francisco at email@example.comTo contact the editor responsible for this story: Anne VanderMey at firstname.lastname@example.org, Mark MilianFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Investors should pay attention to a stock that benefits from normal market growth, plus new growth by attracting additional investments, with a dividend yield almost double the S&P;, and a P/E almost 13% lower than the market, suggests Douglas Gerlach, editor of Investor Advisory Service.
FT subscribers can click here to receive Market Forces every day by email. A weaker US dollar has helped guide market sentiment during October but now comes the hard part: is the recent weakness of the reserve currency simply a temporary correction or does it represent a much bigger shift in tone that bolsters risk appetite into 2020? Confirmation of a passing soft patch for the global economy should in theory set the stage for a larger rotation across global equities.
(Bloomberg) -- The line was long and impeccably dressed as befits the Museum of Modern Art’s opening night.Women in gowns and men in tuxedos stretched around the block Friday to see the New York museum’s $450 million redesign. Also there were two police vans and about 100 protesters, chanting, screaming and dancing. They held signs -- “Divest from Prisons” and “Blood on Your Walls” -- and loud applause erupted when two of the group emerged from the museum with a banner saying “MoMA/Fink Make Sanctuary Not Prisons.”The target that night was Larry Fink, the head of BlackRock Inc., and the activists ire was over the firm’s investment in “prison companies, the war machine and the destruction of the global environment.” Another group was there Monday to protest Steve Tananbaum’s ties to the Puerto Rico debt crisis. The groups, which include New York Communities for Change, want the founder of GoldenTree Asset Management removed from the board of trustees, according to Julio Lopez Varona, one of the organizers.Seven people were arrested at Monday’s protest, according to the New York Post.Elite New York organizations have long been subject to protests, but activists have increased their focus on museums this year and achieved some success. Warren Kanders, resigned in July as vice chairman of the Whitney Museum of American Art following months of demonstrations by activists opposed to his company’s sale of law enforcement and military supplies, including tear gas.That’s one reason that Whitney’s art curator, Christopher Lew, was not shocked by the protests Friday night.‘Our Share’“We’ve seen our share,” Lew said, as he inched along toward MoMA’s entrance, steps ahead of Miami collector Martin Margulies.For others the protest created more of an inconvenience. Wendi Deng Murdoch didn’t want to wait. She attempted to enter MoMa from the side as a VIP, only to be told politely to join the line due to the protest. “In that case, we’ll have to come another time,” said Rupert Murdoch’s ex-wife, turning on her heels and departing.The activists protesting Tananbaum are well versed in the language of finance, but are less interested in the nuances.“While this board member has poured money into the arts, his hedge fund has invested heavily in a variety of Puerto Rican bonds, including bonds from Cofina, the government-owned corporation that issues Puerto Rican bonds to pay and refinance the public debt,” the organizers said in a statement.GoldenTree didn’t create Puerto Rico’s debt crisis, but it may have profited when the island restructured its sales-tax bonds in February. Securities with the weakest lien, called junior Cofinas, received 56 cents on the dollar after those bonds traded at less than 10 cents on the dollar in December 2017. GoldenTree held $1 billion of those securities as of Nov. 26, 2018, according to court documents. That’s up from $110 million in August 2017, before Hurricane Maria slammed into the island and pushed down bond prices.A representative for Tananbaum declined to comment on the MoMA protests. A spokeswoman for the museum didn’t reply to requests for comment.BlackRock, meanwhile, points out that most of its equity assets are held in index funds, which “provide broadly diversified exposure to a market or sector and have democratized investing and broadened access to financial markets for millions of savers,” spokeswoman Melissa Garville said by email.(Updates with report of arrests in fourth paragraph.)To contact the reporters on this story: Katya Kazakina in New York at email@example.com;Michelle Kaske in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Pierre Paulden at email@example.com, Steven CrabillFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
TORONTO, Oct. 21, 2019 -- BlackRock Asset Management Canada Limited (“BlackRock Canada”), an indirect, wholly-owned subsidiary of BlackRock, Inc. (NYSE: BLK), today announced.
New regulations allow the launch of actively-managed ETFs that disclose their holdings quarterly, like mutual funds, rather than daily.
There was little in wide-moat BlackRock's BLK third-quarter results to alter our long-term view of the company, but we have increased our fair value estimate slightly to account for better assets under management levels and fees than we had forecast. BlackRock closed the September quarter with a record $6.964 trillion in managed assets, up 1.8% sequentially and 8.1% year over year, with positive flows and market gains contributing to growth in assets under management during the period. Net long-term inflows of $52.3 billion during the third quarter were fueled by $741 million of active inflows (with strong flows from equity and alternatives operations offset by fixed-income outflows), $10.0 billion of inflows from the institutional index business (with the preponderance going into fixed-income strategies), and $41.5 billion in inflows from iShares.
The quality factor is often misunderstood compared to other investment factors, such as growth, size and value. Adding to some of the confusion around the quality factor is how its deployed in the world of exchange traded funds. For its part, QUAL, which tracks the MSCI USA Sector Neutral Quality Index, focuses on return on equity, earnings variability and debt-to-equity in its stock identification process.
BlackRock (BLK) delivered earnings and revenue surprises of 2.88% and -1.03%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
As online brokers slash their fees, more investors are finding their way to exchange-traded funds, and for more reasons, executives of the ETF market share leader told analysts
(Bloomberg) -- BlackRock Inc. saw investors seek safety in the third quarter, as global trade tensions and geopolitical uncertainty continued to fuel fears of a slowdown.The world’s largest asset manager posted fixed income flows of $35 billion in the three months ended Sept. 30, compared to $22.9 billion a year earlier. Clients also moved to cash and alternatives, with both business lines gaining, the company said in a statement Tuesday.“People are shifting their focus toward de-risking,” said Kyle Sanders, an analyst at Edward Jones. “While some tiptoed back into the market, the general trend is people remaining cautious overall, especially in the third quarter.”President Donald Trump’s ongoing trade war with China and the market anxiety he stirs up with a single tweet are keeping investors on edge. To cushion the firm from market cycles, BlackRock is working to build its range of offerings.Adjusted earnings and revenue exceeded analysts’ estimates and key businesses showed strength. BlackRock gained 1.4% to $440.21 in trading in New York.BlackRock’s iShares index business continued to be a driver of flows, bringing in $41.5 billion. Indexing is a crucial business for the company, accounting for two-thirds of its assets under management.With online brokers cutting their trading commissions to zero on U.S. ETFs, Chief Executive Officer Larry Fink said BlackRock will benefit.“If you could see my face, I’m smiling at the opportunities,” Fink said on an earnings call with analysts. He added that short-duration bond ETFs could work as a compelling substitute to money market funds for some investors. “Commission-free in the fixed income realm is a real opener for so many more participants,” he said.Clients moving to safe havens brings risk for BlackRock. The fees earned from bonds and cash are generally lower than riskier assets. Equities accounted for nearly half of total base fees in the quarter versus 28% for fixed income and 5% for cash management.“No one knows what’s going to happen at any point in time with tweets, and geopolitical risk,” said Gary Shedlin, BlackRock’s chief financial officer, in a phone interview. As clients re-balance to cash and fixed income, “the impact that has on us is it creates some fee rate pressure. At some point those clients will re-risk, and we’ll benefit.”BlackRock missed analyst estimates on total net inflows, bringing in $84.2 billion in the third quarter. Its cash management net flows reached $32 billion, compared to withdrawals of $14.6 billion a year earlier.The firm’s burgeoning alternatives business posted strong quarterly inflows of $7.9 billion. BlackRock last year announced a private equity-style vehicle called Long Term Private Capital, which takes stakes in private companies. The project is behind schedule: the business raised $2.75 billion as of April. Last year, BlackRock said it was seeking to raise up to $12 billion. The fund struck its first deal in August, backing a company that manages brands including Sports Illustrated, Marilyn Monroe and Juicy Couture.Other highlights:Quarterly revenue of $3.69 billion increased 3%, slightly beating analyst estimates.Adjusted net income fell 8% to $1.1 billion.Adjusted earnings came in at $7.15 per share. Analysts estimated $6.97.BlackRock’s assets under management rose to $6.9 trillion.(Adds chart.)To contact the reporter on this story: Annie Massa in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Alan Mirabella at email@example.com, Vincent BielskiFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
BlackRock Inc, the world's largest asset manager, exceeded analysts' estimates for quarterly profit on Tuesday, as investors poured money into its fixed-income funds and cash management business amid worries about global growth. The company attracted $84.25 billion in new money during the third quarter, boosting the total assets it manages to $6.96 trillion. Investors preferred BlackRock's low-fee passive-investment products over its actively managed funds.
BlackRock shares were higher in early trading, after the world’s largest asset manager reported third-quarter earnings that beat Wall Street estimates.
TORONTO, Oct. 15, 2019 -- Today, RBC iShares announced the expansion of its exchange traded funds (“ETF”) lineup with the launch of a new class of U.S. dollar denominated units.
BlackRock achieved a record profit margin last quarter, as lower costs and new client money swelled assets at the world’s largest fund manager to almost $7tn. Revenue from BlackRock’s technology business, which includes its Aladdin platform that does everything from analysing the risk of investing in particular stocks to mining data sets, climbed 30 per cent from a year ago. BlackRock has been one of the big winners from the growth of index investing in which investors are charged a small fee for buying into funds that track benchmark indices such as the S&P 500.