209.00 0.00 (0.00%)
After hours: 5:14PM EST
|Bid||208.28 x 1100|
|Ask||210.00 x 800|
|Day's Range||204.69 - 209.29|
|52 Week Range||161.05 - 224.91|
|Beta (5Y Monthly)||0.08|
|PE Ratio (TTM)||35.36|
|Earnings Date||Apr 28, 2020 - May 03, 2020|
|Forward Dividend & Yield||3.40 (1.64%)|
|Ex-Dividend Date||Mar 08, 2020|
|1y Target Est||219.58|
CME Group, the world's leading and most diverse derivatives marketplace, today announced the launch of North European Hot-Rolled Coil Steel (Argus) Futures, to begin trading on March 9, 2020, pending all relevant regulatory review periods.
CME Group today announced that Bryan T. Durkin will step down as President in May of this year. At that time, Durkin will begin serving as a special advisor to the company, reporting to CME Group Chairman and Chief Executive Officer Terry Duffy. Additionally, yesterday, the CME Group board of directors recommended that Durkin be slated for election to the company's board at its May 2020 Annual Meeting of Shareholders.
CME Group Inc. today announced its slate of candidates for its board of directors for election at the company's annual meeting to be held Wednesday, May 6, 2020.
CME Group Inc., the world's leading and most diverse derivatives marketplace, today declared a first-quarter dividend of $0.85 per share, a 13 percent increase from the prior level of $0.75 per share. The dividend is payable March 25, 2020, to shareholders of record as of March 10, 2020.
CME (CME) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
(Bloomberg Opinion) -- You know how things go with eBay Inc. You go online, ask some seller a question about that highly collectible Beanie Baby, they ignore you, and then suddenly people think you’ve lost your head over a frivolous purchase. Intercontinental Exchange Inc. must be feeling this way after the Wall Street Journal reported that the owner of the New York Stock Exchange had approached the online sales site about a takeover. Such a bid would likely be well in excess of eBay’s current $30 billion valuation. ICE “approached eBay to explore a range of potential opportunities,” according to a company statement, but eBay “has not engaged in a meaningful way.” ICE would primarily be interested in eBay’s business-to-consumer marketplace, according to the Journal. It’s not that eBay lacks attractions. For all that ICE wears smart business attire next to eBay’s Jagged Little Pill vibe, the online auctions company is actually the older business of the two — even if the heady days of the dot-com bubble have given way to an afterlife as a punching bag for activist shareholders Carl Icahn, Elliott Management Corp. and Starboard Value LP.Return on invested capital has clocked in at an average 14.5% over the past five years, well ahead of ICE’s 8.1%. Even after the spinoff of PayPal Holdings Inc. in 2014 shrank the business, operating cashflows have been consistently ahead of those at ICE despite the fact that its market capitalization is about 40% smaller.The multiple underpinning that valuation is a pedestrian 12.4 times blended forward 12-month earnings, too, compared with 22.2 at ICE. That would make an offer paid for via shares or an equity raising — likely the only way ICE could finance such a large deal, given its spare $3.3 billion of annual Ebitda — an attractive option for the exchange’s shareholders.At the same time, it’s hard to see why ICE should be a natural home for eBay. Both businesses are, in the broadest sense, “marketplaces.” But that doesn’t mean ICE ought to be going round buying up real estate in European town centers because they host things that are also known as marketplaces.In everything but the dictionary sense, there couldn’t be a greater difference between the sort of market operated by ICE — where the main participants are huge financial institutions, trades happen within milliseconds, and all but a fraction of transactions are on the secondary market — and eBay’s slower-paced online bazaar, where around four-fifths of activity is business-to-consumer, and business-to-business sales are almost irrelevant.As the owners of a stock exchange, you’d hope that ICE is well aware that most takeovers end up destroying shareholder value. The only exceptions are generally deals where the opportunities to save money by cutting costs and finding synergies are substantial, or where the target owns some vital expertise or intellectual property. If that is the case, it’s frankly a bit concerning. While gross merchandise volume on eBay’s platform amounted to some $90 billion in 2018, the New York Stock Exchange alone sees annual turnover of more than $8.22 trillion, not to mention the ICE’s substantial commodities and fixed income businesses. If there’s something material that ICE has to learn from eBay, that doesn’t say much about the exchange’s business.Exchanges are a small and incestuous world. With recent takeovers such as CBOE Global Markets Inc.’s 2016 purchase of Bats Global Markets Inc. and CME Group Inc.’s purchase of NEX Group Plc, there are precious few obvious deals left — especially as mooted Hong Kong-London, London-Frankfurt and Singapore-Sydney tie-ups in recent years ended up being rejected or blocked. That’s a problem for an industry that’s not doing much better than covering its cost of capital and wants to find new sources of income.Purchasing exchange-adjacent businesses is one option, as demonstrated by London Stock Exchange Group Plc’s purchase of Refinitiv, a financial-data company and competitor to Bloomberg LP. But while that deal may have made some sense given how much money exchanges make from data services, it’s hard to make the same argument for eBay — unless ICE really does want to get into clearing Beanie Baby futures.We’ve all gone and bought something online that we later regret. ICE should avoid doing so in this instance.To contact the author of this story: David Fickling at email@example.comTo contact the editor responsible for this story: Rachel Rosenthal at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.David Fickling is a Bloomberg Opinion columnist covering commodities, as well as industrial and consumer companies. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
There was a sharp rise in agricultural producer sentiment in January as the Purdue University/CME Group Ag Economy Barometer rose 17 points from December to a reading of 167. Although the Index of Current Conditions was essentially unchanged, up one point to a reading of 142, the Index of Future Expectations jumped significantly, up 24 points since December to a reading of 179. The sentiment improvement took place as the Phase One Trade Agreement between the U.S. and China was being discussed and signed in mid-January. The Ag Economy Barometer is based on a mid-month survey of 400 U.S. agricultural producers and was conducted from January 13-17, 2020.
With earnings on tap for Feb. 12, CME is trading approximately 3% shy of a 225.01 entry. The pattern is a second-stage cup without handle. Understand that buying close to when a stock reports can be risky.
CME (CME) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Any action in the futures market translates quickly into the spot market, analysts say. Rachel Kent, a securities lawyer at Hogan Lovells noted spot exchange rate markets do not come under the market abuse rules that allow regulators to fine firms for misconduct. Regulated firms are also required to abide by the FCA's so-called general principles, a breach of which was used to fine banks for seeking to manipulate the Libor interest rate benchmark.