7.32 -0.02 (-0.27%)
After hours: 7:02PM EST
|Bid||7.33 x 36900|
|Ask||7.34 x 36900|
|Day's Range||7.25 - 7.40|
|52 Week Range||5.23 - 7.40|
|Beta (5Y Monthly)||1.01|
|PE Ratio (TTM)||36.70|
|Earnings Date||Apr 21, 2020 - Apr 26, 2020|
|Forward Dividend & Yield||0.05 (0.74%)|
|Ex-Dividend Date||Feb 10, 2020|
|1y Target Est||7.57|
(Bloomberg) -- Financial firms operating in Singapore and Hong Kong are delaying hiring as the coronavirus outbreak disrupts their businesses.Both domestic and foreign institutions have slowed recruitment, according to headhunters in the financial hubs. They’ve been impacted by quarantines, restrictions on travel to and from China, remote working arrangements and decisions not to conduct face-to-face interviews.It’s another aspect of the fallout from the virus, which has also caused factory closures, disrupted supply chains and initiated the world’s largest work-from-home experiment. Recruiting has become less of a priority as firms including DBS Group Holdings Ltd. have highlighted the revenue impact of worsening business conditions.“Everybody is distracted,” said Gurj Sandhu, a managing director at Morgan McKinley Group Ltd. in Singapore. Hiring is falling down the “pecking order,” he said, while adding that nobody is canceling roles yet.Bloomberg spoke with six recruitment firms, all of which confirmed the slowdown. Hiring processes and relocation plans are taking longer at most companies because of logistical difficulties.“Companies are not risking international travel, they are not risking client meetings unless it is critical,” said Bethan Howell, a Hong Kong-based consultant at Selby Jennings Ltd.Closing DealWhile some financial firms are conducting interviews by video conference or phone, closing the deal is more problematic, especially at investment banks and wealth-management units.Bankers are “big-ticket items,” said Hubert Tam, a managing partner at Sirius Partners Ltd. in Hong Kong. Private banks and investment banks are holding off on hiring until they can meet candidates in person, “even if they performed well last year,” he said.What’s more, many private bankers covering China would have to travel to the country to meet clients and “get their blessings” before they move banks, according to Amod Jain, a Morgan McKinley consultant in Singapore. “Not everything can be done by phone.”Selby Jennings’ Howell gave the example of a person scheduled to relocate to Hong Kong from Shanghai for a quant fund. The person may have to work from the client’s Shenzhen office while waiting for a visa, which is taking more time these days, she said.Some recruiters pointed to early signs companies are reconsidering their initial hiring plans for 2020 as the outbreak deals a deeper blow to their operations.A few banks and asset managers are reviewing their hiring budgets for 2020, said Tam from Sirius Partners. Working from home has led to a decline in trading, impacting profits, he said.New HeadwindsSome lenders are considering whether to hold off on adding headcount for non-essential roles such as back-office functions, according to Mark Li, head of client solutions at Randstad Singapore.The financial services industry in Asia’s biggest hubs was facing economic headwinds even before the coronavirus outbreak because of U.S.-China trade tension, which was affecting recruiting at some firms, Li said. Hong Kong also had to grapple with its months-long protests.The slowdown in hiring is also starting to weigh on recruitment firms as they factor in delays of multiple weeks for placing candidates. “Financially, we have been impacted because we can’t close enough deals that make the revenues,” Morgan McKinley’s Sandhu said.However, recruiters expressed optimism that new viral infections are slowing, with some lauding the Singapore government for its efforts to contain the outbreak.“It’s still relatively early to see any hiring freeze,” said Nilay Khandelwal, managing director at Michael Page International Pte. in Singapore. “The real extent of impact will be seen in the days to come when new headcount and hiring plans for this year might get revised.”(Adds timeline for expected delay in third-last paragraph)To contact the reporters on this story: Ishika Mookerjee in Singapore at email@example.com;Abhishek Vishnoi in Singapore at firstname.lastname@example.orgTo contact the editor responsible for this story: Lianting Tu at email@example.comFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
With its new $75 million investment from Sirius XM, SoundCloud says it's focused on being more of a "social music experience" than competing directly with the likes of Apple Music.
AutoNation, Inc., America's largest and most recognized automotive retailer, and Automatic Labs, Inc., a SiriusXM company that brings the power of connectivity to most cars available at AutoNation, are expanding the AutoNation Connected Car Program to additional markets.
Sirius XM Holdings Inc. said it has invested $75 million in SoundCloud, an open audio platform based in Europe. New York City-based Sirius XM (Nasdaq: SIRI) said the investment in the Berlin-based company will benefit its shareholders. SoundCloud will use this additional investment to accelerate its product development and enhance the services that fuel its global community of creators and listeners, the statement said.
SiriusXM Holdings Inc. (NASDAQ: SIRI ) announced on Tuesday it has invested $75 million in SoundCloud. SoundCloud already has a relationship with Pandora, which SiriusXM bought in 2019. This latest agreement ...
SoundCloud and SiriusXM Holdings Inc. (NASDAQ: SIRI) announced today that the leading U.S. audio entertainment company, SiriusXM, has invested $75 million in SoundCloud, the world's largest open audio platform. SoundCloud will use this additional investment to accelerate its product development and enhance the services that fuel its global community of creators and listeners.
SiriusXM announced today that Harry Styles will perform for SiriusXM and Pandora on Friday, February 28 at a secret location in New York City. The intimate set for SiriusXM subscribers and Pandora listeners will feature Styles performing songs from his recent sophomore album, Fine Line, released via Columbia Records. The event will also include an interview with Harry Styles and The Morning Mash Up hosts Ryan Sampson, Nicole Ryan and Stanley T.
Last week saw the newest annual earnings release from Sirius XM Holdings Inc. (NASDAQ:SIRI), an important milestone in...
SiriusXM announced today that Pearl Jam will perform at Harlem's world-famous Apollo Theater in a special invitation-only concert for SiriusXM subscribers and Pandora listeners on Thursday, March 26.
SiriusXM Holdings Inc. on Tuesday reported in-line profit for its fourth quarter while beating expectations on revenue for the period. The company posted net income of $243 million, or 5 cents a share, down from $251 million, or 6 cents a share, in the year-prior quarter. Analysts surveyed by FactSet were expecting 5 cents in earnings per share. Revenue rose to $2.06 billion from $1.5 billion and came in slightly ahead of the FactSet consensus, which called for $2.02 billion. The company expects total revenue of about $8.1 billion for the current fiscal year, whereas analysts were calling for $8.2 billion. Sirius also expects SiriusXM self-pay net subscriber additions of more than 900,000 for the full year. Shares have added 5.1% over the past three months, as the S&P 500 has risen 5.9%.
Investing.com - Sirius XM (NASDAQ:SIRI) reported on Tuesday fourth quarter earnings that matched analysts' forecasts and revenue that topped expectations.
Sirius XM's (SIRI) fourth-quarter 2019 results are expected to reflect an expanded subscriber base backed by a solid content portfolio.
Sirius XM, the New York radio company, on Tuesday reports for the fourth quarter. After a rally, the stock is in make-or-break mode. Here's how to trade it.
SiriusXM and Hallmark Channel announced today the return of Hallmark Channel Radio with "Love Ever After," celebrating popular and timeless love songs with stories and tales of love by Hallmark Channel's favorite stars.
Sirius XM (SIRI) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
SiriusXM today announced an exceptional week of programming for Super Bowl LIV in Miami Beach, offering multiple live broadcasts of the game in seven languages, a dedicated Super Bowl LIV pop up channel, plus a wide-ranging mix of sports, entertainment and music programming that will connect listeners with many of today's biggest stars.
UJA-Federation of New York has named Scott Greenstein, President and Chief Content Officer of SiriusXM, as its Music Visionary of the Year. Mr. Greenstein will be recognized for his exceptional professional accomplishments and commitment to philanthropy at the annual Music Visionary of the Year Award Luncheon on June 4, 2020, in New York City.
SiriusXM today announced its extensive coverage for this year's PGA Merchandise Show, the industry's MAJOR of Golf Business, (Jan. 21-24) in Orlando, Florida. SiriusXM PGA TOUR Radio, SiriusXM's exclusive 24/7 golf channel, will deliver four days of coverage from PGA Show Demo Day at the Orange County National Golf Center and the 2020 PGA Merchandise Show at the Orange County Convention Center, giving listeners special access to one of the biggest events on the golf calendar that is otherwise not open to the public.
How far off is Sirius XM Holdings Inc. (NASDAQ:SIRI) from its intrinsic value? Using the most recent financial data...
Pandora and SiriusXM announced today that they are kicking off football's biggest weekend with the SiriusXM & Pandora Opening Drive Super Concert Series, two free exclusive concerts on back-to-back nights in Miami before the Big Game. GRAMMY® Award-winning duo The Chainsmokers will perform Wednesday, January 29, and GRAMMY® Award-nominated breakout star Lizzo will perform Thursday, January 30, both at The Fillmore Miami Beach at The Jackie Gleason Theater.
SiriusXM today introduced its newest aftermarket radio – SiriusXM Tour™ – which can deliver subscribers the functionality of SiriusXM's next generation platform, SiriusXM with 360L, in a portable unit that can be used in the car and at home. SiriusXM Tour is on display this week at the Consumer Electronics Show (CES) in Las Vegas at the SiriusXM/Voxx booth (13518) in the Central Hall of the Las Vegas Convention Center.