|Bid||0.00 x 800|
|Ask||50.80 x 1200|
|Day's Range||47.24 - 48.00|
|52 Week Range||33.68 - 49.98|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||43.68|
|Earnings Date||Aug 8, 2019|
|Forward Dividend & Yield||0.32 (0.65%)|
|1y Target Est||46.21|
MarketAxess CEO Rick McVey tells Jim Cramer how the company predicts bond trades with AI and why the stock climbed during the fourth-quarter sell-off.
(Bloomberg) -- At Citigroup Inc., bean counting and boring banking are in ascendance. Trading, not so much.The lender said it will continue to cut costs in the second half of the year after trimming more than analysts expected last quarter. That outlook helped the stock rebound from a deeper drop after disappointing trading results.“We’re going to do everything within our power” to meet a goal of a 12% return on tangible equity this year, Chief Executive Officer Mike Corbat said in response to skepticism from analysts regarding the target during a conference call Monday. The firm won’t end planned investments in technology or risk its efforts to improve safety and soundness, he said. “But everything else is on the table.”Citigroup shares fell 0.3% at 12:05 p.m. in New York trading, making it the second-best performer in the 24-company KBW Bank Index. The other major banks all fell as Citigroup’s trading decline may herald a fourth straight quarterly drop for that business across Wall Street.The results from Citigroup, the first giant U.S. bank to report earnings for the quarter, underscore how sell-side traders haven’t been able to capitalize on market swings. Markets keep getting jolted by President Donald Trump’s unpredictable threats to ratchet up tariffs on countries such as China and Mexico, as well as the Federal Reserve’s shifting stance on interest rates. That’s sent investing clients to the sidelines, taking a toll on banks matching buyers and sellers.“As we saw volatility around the rate forecast, it really had an impact on investor client sentiment,” Chief Financial Officer Mark Mason said on a conference call with reporters. “Client conviction remains challenged.”At Citigroup, revenue from trading slipped roughly 5%, excluding a one-time gain on a stake in Tradeweb Markets Inc., which held an initial public offering. The decline was worse than analysts projected, and helped counter the strongest second quarter for its consumer division since 2013.Citigroup’s struggle to improve efficiency and earnings from consumers was a sore spot for shareholders as the year began. Investors are paying particular attention to costs after companywide revenue climbed less than 1% in 2018. Unable to rein in expenses fast enough, executives missed their own cost target, hurting their credibility with analysts.Cutting CostsCorbat has projected the firm can save as much as $600 million annually after investing in technologies to run operations. The second quarter marked progress, with expenses down 2% to $10.5 billion -- almost $100 million lower than the average estimate from analysts.Investment banking revenue dropped 10% to $1.28 billion. That was slightly better than analysts estimated, helped by a surprise 2% gain in fees from underwriting debt. Revenue from advising on mergers and acquisitions slumped 36%.The situation in the consumer business improved in the second quarter as it added $3 billion in deposits and as cardholder spending jumped 6%. Altogether, revenue from consumer banking climbed 3% to $8.51 billion, surpassing analysts’ projections. Revenue in those operations had stagnated in this year’s first three months.Competitors JPMorgan Chase & Co., Wells Fargo & Co. and Goldman Sachs Group Inc. are set to report results Tuesday, with Bank of America Corp. and Morgan Stanley following later in the week.Here are other key numbers from the quarter:Citigroup set aside $2.09 billion to cover the cost of souring loans, a 16% increase that was in line with analysts’ estimates. Citigroup attributed the increase to additional spending on cards as well as “normalization” in credit quality within the institutional business.Total revenue climbed 2% to $18.8 billion including the $350 million gain tied to Tradeweb, an electronic trading platform. Analysts had projected $18.5 billion.Net income rose 7% to $4.8 billion. Earnings per share excluding the gain on Tradeweb were $1.83. Analysts had estimated adjusted per-share earnings of $1.80.To contact the reporter on this story: Jenny Surane in New York at email@example.comTo contact the editors responsible for this story: Michael J. Moore at firstname.lastname@example.org, Daniel TaubFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
It is not uncommon to see companies perform well in the years after insiders buy shares. The flip side of that is that...
Tradeweb Markets Inc. (TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today reported a new monthly record for average daily volume (ADV) of $859.2 billion (bn) in aggregate for the month of June 2019.
Tradeweb Markets Inc. (TW), a leading global operator of electronic marketplaces for rates, credit, equities and money markets, has introduced a series of new features further optimising offshore investors’ access to the Chinese Interbank Bond Market (CIBM). The launch of dealer streaming prices and iDeal – the messaging tool developed by the China Foreign Exchange Trade System (CFETS) – on Tradeweb was announced during the Bond Connect Anniversary Summit in Hong Kong today. “In addition to pre-trade allocation, clients trading Chinese bonds on Tradeweb benefit from improved price discovery, access to a deep pool of liquidity, and operational efficiency thanks to end-to-end electronic workflows,” said Lee Olesky, CEO of Tradeweb Markets.
Tradeweb Markets Inc. , a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, will release financial results for the second quarter of 2019 prior to the U.S.
Fans of initial public offerings (IPOs) have gotten one flashy deal after another in 2019. Some companies such as Beyond Meat (BYND) shocked onlookers with a meteoric ascent, while other hotly hyped companies such as Uber Technologies (UBER) crashed and burned early on. But broadly speaking, there's demand for IPOs, and up-and-coming companies are happy to fill that demand."IPO activity is (mildly) cyclical, as management teams take the opportunity to go public while being buoyed by favorable economic conditions," Bernstein equity strategist Noah Weisberger told CNBC in explaining this year's red-hot IPO market.It's early going for these new stocks, however. They have only a few months of trading under their belts, and very little financial track record to go on. With so little information at their fingertips, investors must rely heavily on Wall Street's analysts for insights into the comings and goings of these IPOs.Here are 10 recent higher-profile IPOs, and what analysts are saying about each of these new stocks. SEE ALSO: The 19 Best Stocks to Buy for the Rest of 2019
The pool of euro zone government bonds with negative yields has surged so far in June to 4.3 trillion euros or around 55% of the total, the highest proportion since August 2016, Tradeweb data showed on Thursday. Bond yields across the bloc took another plunge on Tuesday after European Central Bank chief Mario Draghi raised the prospect of further easing to boost inflation. Of around the 7.87 trillion euros of euro area government bonds in the Tradeweb system, the proportion of debt yielding less than zero rose sharply again, according to Tradeweb data as of the close of trade on Tuesday, the day of Draghi's speech.
Several IPO stocks have been on a tear lately as innovative products fuel booming sales. Most aren't profitable, but Wall Street doesn't seem to mind.
Tradeweb Markets Inc. (TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today reported average daily volume (ADV) of $741.8 billion (bn) in aggregate for the month of May 2019.
Tradeweb Markets Inc. , a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced that Chief Executive Officer Lee Olesky is scheduled to speak at the Sandler O’Neill Global Exchange and Brokerage Conference in New York on Wednesday, June 5, 2019 at 11:30 a.m.
The Netherlands on Friday became the latest euro zone state to see its 10-year yields fall below zero percent, joining a pool of negative-yielding euro government bonds that grew in May to encompass 48% of the euro debt traded on Tradeweb. This proportion, the latest sign of the pessimism gripping world markets, is the highest since September 2016, according to data from Tradeweb. Bond yields across major developed markets have plunged this year as weak data, trade tensions and a dovish policy shift from major central banks boost demand for fixed income.
Bond yields across major developed markets have plunged this year as weak data, trade tensions and a dovish policy stance from major central banks boost demand for fixed income. Accordingly, of around the 7.69 trillion euros ($8.57 trillion) of euro area government bonds in the Tradeweb system, the proportion of debt yielding less than zero rose sharply in May, Tradeweb data as of the close of trade on Thursday showed.
Tradeweb Markets Inc. , a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced that Chief Executive Officer Lee Olesky is scheduled to speak at Bernstein’s 35th Annual Strategic Decisions Conference at the Grand Hyatt New York on Friday, May 31, 2019 at 10:00 a.m.
Uber Technologies and Beyond Meat are among new IPOs with interesting stock charts. But Pinterest and Lyft show why you shouldn't buy IPO stocks right away. Here's how to handle them.
The current stock market rally came under pressure during the week after President Donald Trump threatened to escalate the China trade war, ultimately raising China tariffs early Friday.
Tradeweb earnings narrowly beat views for the online marketplace for bonds, derivatives and more. Shares are near a buy point from an IPO base.
Tradeweb Markets Inc on Thursday reported a drop in earnings for the first quarter as higher expenses at the newly public electronic trading platform operator outweighed a jump in revenue. Tradeweb, which focuses on electronic trading in assets such as government, mortgage, corporate and municipal bonds, as well as derivatives and ETFs, said it had net income of $42.4 million, or 19 cents a diluted share in the quarter ended March 31. Tradeweb went public on the Nasdaq stock exchange on April 4, pricing at $27 a share.
Tradeweb Markets Inc. (TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today reported average daily volume (ADV) of $665.5 billion (bn) in aggregate for the month of April 2019.
The pool of euro-denominated investment grade corporate bonds with negative yields rose in April to its highest level since early-2018, data from trading platform Tradeweb showed on Wednesday. Government and corporate bond yields have fallen this year as a weak economic backdrop boosts demand for fixed income assets. According to Tradeweb, of the almost 3.2 trillion euros worth of euro investment grade corporate bonds traded on its system, almost 23 percent had a negative yield as of the end of April.