The World Opinion

Tag: FactSet Research Systems Inc

  • ETFs come to China with a vengeance

    Hong Kong, a British colony from the 1840s to 1997, grew into a world finance middle simply off the coast of mainland China. A inventory attach introduced in 2014, adopted through different methods linking Hong Kong’s marketplace nearer with the mainland’s.

    Anthony Kwan | Bloomberg | Getty Pictures

    BEIJING — China has joined the worldwide craze over exchange-traded budget, the funding product that we could buyers purchase and promote a basket of shares.

    Higher referred to as ETFs, the budget surged in recognition within the U.S. after the monetary disaster, and constructed $3 trillion companies like BlackRock’s iShares ETF logo.

    In mainland China, ETFs have multiplied quicker than the inventory marketplace. In 5 years, the choice of ETFs greater than quadrupled to 645, whilst the choice of shares rose through a trifling 53% to 4,615.

    That is in keeping with reliable information and a record from Hong Kong Exchanges and Clearing, which additionally mentioned the mainland ETF marketplace has grow to be a 1.4 trillion yuan ($209 billion) industry, greater than tripling in simply 5 years.

    A regulatory exchange that took impact Monday opened that ETF marketplace to in another country buyers by way of Hong Kong — a program referred to as the ETF Attach.

    Beijing-based ChinaAMC, which stated it introduced the primary ETF at the mainland in 2004, rode the business’s surge and operates 10 of the budget eligible for buying and selling below the brand new cross-border buying and selling program. The ones come with ETFs monitoring indexes and subject matters like semiconductor construction.

    The ETF Attach leans closely towards the mainland. Of the preliminary batch of eligible ETFs, 83 are indexed at the mainland, as opposed to simply 4 in Hong Kong.

    Goldman Sachs predicts $80 billion extra in purchases of mainland belongings as opposed to the ones in Hong Kong over the following 10 years.

    “Including Northbound ETFs to at least one’s A-share portfolio may just doubtlessly amplify the environment friendly frontier and reinforce the danger/praise,” Goldman Sachs analysts wrote in a record this week. “Whilst the preliminary Southbound eligible universe seems slim, the underlying constituents nonetheless be offering mainland buyers wide publicity to HK-listed Web and Monetary shares.”

    Chinese language web tech giants like Tencent and Alibaba have listings in Hong Kong however no longer the mainland. However, many China-focused corporations are simplest indexed at the mainland.

    One of the most issues the ETF Attach can do is spice up global buyers’ working out of mainland China ETFs and build up the goods’ affect, Xu Meng, a ChinaAMC fund supervisor, stated in a commentary. Xu may be government normal supervisor of the company’s quantitative funding division.

    ChinaAMC claims that as of the top of 2021, it had greater than 300 billion yuan in passively controlled belongings.

    New hyperlinks to mainland China

    The similar day the ETF Attach introduced, Chinese language regulators introduced a brand new program — set to take impact in about six months — that will permit funding in monetary derivatives at the mainland by way of Hong Kong.

    A next segment of this system is about to permit mainland buyers to industry monetary derivatives in Hong Kong.

    The ones strikes to glue Hong Kong and mainland markets apply equivalent methods for shares and bonds that started in 2014. Mainland China is house to the arena’s second-largest inventory marketplace through worth.

    Extra ETFs to return

    Different monetary corporations are coming to the ETF marketplace — with a focal point on better China purchasers short of to speculate across the world thru Hong Kong.

    Wealth supervisor Hywin Holdings, founded in Shanghai with a subsidiary in Hong Kong, introduced closing week a well being care inventory index with FactSet, a monetary information and instrument corporate.

    The 40-stock “FactSet Hywin International Well being Care Index” tracks stocks of businesses most commonly indexed in Europe or North The usa — akin to AstraZeneca and Merck.

    The plan is to commercialize that index with an ETF indexed in Hong Kong.

    Learn extra about China from CNBC Professional

    “Hywin’s purchasers [more than 130,000 across Asia], increasingly more, they to find the arena very fluid, very unstable. They wish to seize alternatives however they’re much less positive at the moment about choosing the inventory and choosing the timing,” stated Nick Xiao, Hywin Holdings’ vice chairman and CEO of the company’s in another country industry, Hywin Global.

    After this primary co-branded index, Xiao stated he expects extra collaboration with FactSet to create indexes and ETFs. He famous there are already 8 ETFs indexed in Hong Kong that monitor FactSet indexes.

    Amongst institutional buyers and cash managers in Larger China, just about 40% stated they invested greater than part in their belongings below control in ETFs, some distance upper than the nineteen% percentage within the U.S., Brown Brothers Harriman present in an annual survey launched in January.

  • Shares making the largest strikes noon: WeWork, Snowflake, United Airways, Ceremony Help and extra

    Basic view of WeWork Weihai Street flagship is noticed on April 12, 2018 in Shanghai, China. International’s main co-working area corporate WeWork will achieve China-based rival bare Hub for 400 million U.S. greenbacks. (Photograph by means of Jackal Pan/Visible China Team by means of Getty Pictures)

    VCG | Getty Pictures

    Take a look at the firms making headlines in noon buying and selling Thursday.

    WeWork — Stocks of WeWork jumped greater than 9% after Credit score Suisse initiated protection of the office-sharing inventory with an outperform score and an $11 worth goal, greater than double its Wednesday remaining stage. The company stated the corporate is poised to take pleasure in its first mover merit.

    Snowflake — The cloud information supplier noticed its stocks advance greater than 9% after JPMorgan upgraded them to obese from impartial and stated the corporate is “achieving an inflection level on the subject of subject matter Unfastened Money Waft era.” The company additionally reiterated its worth goal, which is ready 30% from the place the inventory closed Wednesday.

    United Airways — Stocks dropped greater than 3% after the corporate reduce 12% of flights out of Newark in a bid to scale back delays. United Airways is trimming 50 flights every day beginning July 1.

    Ceremony Help — The drugstore’s stocks jumped 15% after the corporate reported better-than-expected income and a smaller-than-expected quarterly loss for its most up-to-date quarter.

    KB House — Stocks of KB House jumped just about 9% after the homebuilder reported better-than-expected effects for its fiscal 2d quarter. KB House generated $2.32 in profits in step with percentage on $1.72 billion in income. Analysts surveyed by means of Refinitiv have been searching for $2.03 in profits in step with percentage on $1.64 billion in income. The corporate additionally reaffirmed its fiscal 2022 outlook.

    Revlon — Revlon slid 12%, following a three-day win streak for the wonder inventory that adopted its Bankruptcy 11 chapter submitting ultimate week. The cosmetics maker’s stocks have surged greater than fourfold over the last 3 periods.

    Veeva Methods — Stocks of Veeva Methods, a cloud-based tool supplier for the existence sciences business, rose 5.7% after Goldman Sachs initiated protection of the inventory with a purchase score. The company stated the corporate is about up for luck due to its robust margins and lead in CRM answers, which Goldman known as its “aggressive moat.”

    Funko — Stocks of Funko, the maker of vinyl collectible figurines and bobbleheads, jumped 12% after JPMorgan upgraded the inventory to obese from impartial and stated the inventory has upside whilst financial expansion slows, calling the toy business a secure haven.

    Factset Analysis Methods — The monetary information corporate noticed its inventory upward push greater than 5% after reporting better-than-expected effects for its fiscal 3rd quarter. FactSet reported adjusted profits of $3.67 in step with percentage on $489 million of income. Analysts surveyed by means of Refinitiv had penciled in $3.23 in profits in step with percentage on $477 million of income. FactSet additionally stated it anticipated expansion to be on the higher finish of earlier steering for the overall fiscal yr.

    — CNBC’s Jesse Pound and Sarah Min contributed reporting.

  • Shares making the largest strikes premarket: Accenture, Darden Eating places, FactSet and extra

    Take a look at the firms making headlines prior to the bell:

    Accenture (ACN) – The consulting company’s stocks fell 3.3% within the premarket after its quarterly earnings beat forecasts however profits had been impacted through the price of its Russia go out. Accenture raised its full-year earnings forecast however reduce the highest finish of its projected profits vary because of a greater-than-expected adverse affect from foreign currency echange.

    Darden Eating places (DRI) – The mother or father of Olive Lawn and different eating place chains reported better-than-expected benefit and earnings for its newest quarter. It additionally greater its quarterly dividend through 10% and licensed a brand new $1 billion proportion repurchase program. Darden added 3.4% in premarket buying and selling.

    FactSet (FDS) – The monetary knowledge supplier beat best and bottom-line estimates for its newest quarter. It additionally sponsored its prior full-year steerage, with expansion projected on the higher finish of its projected vary.

    Ceremony Support (RAD) – Ceremony Support stocks jumped 4.3% in premarket motion after reporting better-than-expected earnings and a smaller-than-expected quarterly loss.

    KB House (KBH) – KB House reported quarterly profits of $2.32 in line with proportion, beating the $2.03 consensus estimate, and the house builder’s earnings additionally got here in above analyst forecasts. On the other hand, it mentioned emerging rates of interest and better costs had been starting to have a adverse affect on gross sales expansion. KB House jumped 3% in premarket buying and selling.

    Occidental Petroleum (OXY) – Berkshire Hathaway (BRK.B) purchased an extra 9.6 million stocks of Occidental Petroleum, elevating its stake within the power manufacturer to 16.3%. Occidental rallied 2.9% in premarket motion.

    Steelcase (SCS) – Steelcase stocks rose 3.1% in premarket buying and selling after the workplace furnishings maker reported better-than-expected quarterly effects. Upper costs and greater call for helped offset emerging prices stemming partially from provide chain difficulties.

    WeWork (WE) – The office-sharing corporate’s inventory rose 3.3% within the premarket after Credit score Suisse initiated protection of the inventory with an “outperform” score. Credit score Suisse feels WeWork is without doubt one of the firms that may get pleasure from the rise in hybrid paintings and co-working, in addition to demographic traits.

    Snowflake (SNOW) – The cloud computing corporate’s inventory was once upgraded to “obese” from “impartial” at J.P. Morgan Securities, which pointed to an exquisite valuation in addition to extraordinarily top delight ranges amongst Snowflake consumers. Snowflake surged 6.1% in premarket buying and selling.

    Revlon (REV) – Revlon slid 5.7% within the premarket, signaling a conceivable finish to the three-day win streak that adopted its Bankruptcy 11 chapter submitting final week. The cosmetics maker’s stocks have surged greater than fourfold during the last 3 periods.

  • Shares making the largest strikes noon: DocuSign, Campbell, Moderna and extra

    The Docusign Inc. web page on a laptop pc organized in Dobbs Ferry, New York, U.S., on Thursday, April 1, 2021.

    Tiffany Hagler-Geard | Bloomberg | Getty Pictures

    Take a look at the corporations making headlines in noon buying and selling.

    Campbell Soup – The meals corporate noticed stocks acquire 1.5% after reporting a better-than-expected quarterly file. Campbell posted an adjusted benefit of 70 cents consistent with percentage, 9 cents above Refinitiv consensus estimates. Gross sales additionally beat forecasts, and Campbell raised its full-year gross sales outlook. The corporate reiterated its prior income forecast, noting it now expects core inflation to run warmer than its earlier outlook.

    Ollie’s Cut price Outlet — Stocks of the cut price store jumped 4.7% even after a disappointing income file. Ollie’s posted income consistent with percentage of 20 cents within the first quarter, lacking a FactSet estimate of 30 cents. Leader Govt John Swygert mentioned the corporate has no longer but observed the total good thing about shoppers buying and selling down amid inflationary pressures.

    Moderna — Stocks of the drugmaker complex about 2.2% after a find out about confirmed that an upgraded model of the company’s coronavirus vaccine produced a more in-depth immune reaction in opposition to the omicron variant. Moderna expects the vaccine to get clearance in past due summer time.

    Western Virtual — The era inventory fell greater than 4.1% after Western Virtual mentioned it reached a agreement with activist investor Elliott Control, which has been in search of a breakup of the corporate. Western Virtual mentioned it’s reviewing strategic possible choices, together with a imaginable cut up of its flash reminiscence and disk power companies.

    Credit score Suisse, State Boulevard — Stocks fell 1% after a file that State Boulevard was once making plans a takeover bid for the Swiss financial institution. State Boulevard stocks fell about 5.5%.

    DocuSign — The digital signature corporate’s inventory added 2.7% on information that DocuSign is increasing its partnership with Microsoft.

    Confirm — Stocks of the buy-now, pay-later corporate fell 4.2% after Wedbush initiated Confirm with an underperform score. Wedbush cited expanding festival within the area, slowing e-commerce gross sales and emerging investment prices.

    Altria Team — The tobacco inventory fell 8.4% after Morgan Stanley downgraded Altria Team to an underweight score from equivalent weight. “We wait for larger pressures from emerging gasoline costs and weaker client sentiment, which must weigh on cigarette volumes and reinforce industry down chance,” Morgan Stanley mentioned.

    Dutch Bros — The espresso chain noticed stocks fall 2.5% after JPMorgan downgraded the inventory to a impartial score from obese. “Dutch Bros is a discretionary instance, and is an ‘simple’ scale back when instances really feel ‘tighter,’” JPMorgan mentioned.

    — CNBC’s Yun Li, Tanaya Macheel and Samantha Subin contributed reporting.

  • Chevron’s benefit quadruples within the first quarter as upper oil and fuel costs spice up operations

    The Chevron brand is displayed as a tanker truck enters the Chevron Merchandise Corporate El Segundo Refinery on January 26, 2022 in El Segundo, California.

    Patrick T. Fallon | AFP | Getty Photographs

    Chevron’s benefit greater than quadrupled right through the primary quarter of 2022, as upper oil and fuel costs boosted the corporate’s effects.

    The oil large reported $6.3 billion in profits right through the length up from $1.37 billion right through the similar quarter in 2021.

    Chevron’s earnings rose to $54.37 billion, up from $32.03 billion right through the primary quarter of 2021.

    Chevron’s effects practice a surge in commodity costs.

    West Texas Intermediate crude futures spiked to $130.50 in early March, a value closing observed in 2008 as Russia’s invasion sparked provide fears. World benchmark Brent just about hit $140, additionally the perfect since 2008.

    Costs have since cooled, however are nonetheless sitting above $100, boosting power firms’ operations.

    “Chevron is doing its phase to develop home provide with U.S. oil and fuel manufacturing up 10 % over first quarter closing yr,” CEO Michael Wirth mentioned in a observation.

    Stocks of Chevron have been flat right through premarket buying and selling.

    On an adjusted foundation the oil large earned $3.36 in step with proportion. It was once now not transparent whether or not Chevron exceeded expectancies. Wall Boulevard was once anticipating the corporate to earn $3.27 in step with proportion on $47.94 billion in earnings, in keeping with estimates compiled by way of Refinitiv. However FactSet’s consensus estimate in step with proportion was once $3.41.

  • Shares making the most important strikes premarket: KB House, Spotify, Nikola and others

    Take a look at the corporations making headlines prior to the bell:

    Darden Eating places (DRI) – The mum or dad of Olive Lawn and different eating place chains reported quarterly income of $1.93 in step with percentage, lacking the $2.10 consensus estimate, with income and comparable-store gross sales additionally under analyst forecasts. Darden stated the omicron variant considerably impacted visitor call for, staffing ranges and prices in January, however the atmosphere therefore advanced. Darden fell 1.7% within the premarket.

    KB House (KBH) – KB House neglected estimates through 9 cents with quarterly income of $1.47 in step with percentage, and the house builder’s income additionally neglected Wall Side road forecasts. KB House stated it was once coping with provide and hard work problems that hampered its talent to finish house development. KB House stocks misplaced 3.6% in premarket buying and selling.

    Spotify Generation (SPOT) – Spotify stocks jumped 3.7% within the premarket after it reached an settlement with Alphabet’s (GOOGL) Google that we could subscribers join the carrier immediately throughout the Google Play shop. Relationship products and services operator Fit Staff (MTCH) – some other corporate that has sparred with Google over app shop charges – rallied 3.4% following the Spotify information.

    Nikola (NKLA) – Nikola soared 15.1% in premarket motion after pronouncing electrical truck manufacturing started at its Coolidge, Arizona, manufacturing unit ultimate week, assembly a objective that have been articulated all over its most up-to-date quarterly income file ultimate month.

    GameStop (GME) – GameStop stays on watch after the videogame store’s inventory surged 14.5% Wednesday, marking a 7th instantly day of features after Chairman Ryan Cohen purchased 100,000 extra stocks and raised his stake to 11.9%. GameStop slid 5.2% in premarket buying and selling.

    FactSet (FDS) – The monetary data supplier reported an adjusted quarterly benefit of $3.27 in step with percentage, when compared with a consensus estimate of $2.98. Income additionally crowned Wall Side road predictions and FactSet issued an upbeat forecast.

    Commute.com (TCOM) – Commute.com jumped 6.2% within the premarket after the China-based trip products and services supplier reported an sudden benefit for its newest quarter and income that exceeded analyst forecasts.

    H.B. Fuller (FUL) – The commercial adhesives and area of expertise chemical substances maker rallied 5.7% within the premarket after reporting better-than-expected benefit and income for the quarter, and elevating its full-year forecast. Fuller stated it applied worth will increase to care for upper uncooked fabrics and logistics prices and is ready to take action once more, if important.

    Steelcase (SCS) – The workplace furnishings maker reported an sudden loss for its newest quarter, even supposing income exceeded analyst estimates. Steelcase stated its effects have been impacted through provide chain disruptions and inflationary pressures. It additionally issued a weaker-than-expected forecast, and its stocks fell 5.4% in premarket buying and selling.

    Logitech (LOGI) – The maker of keyboards, mice and different pc peripherals added 3.5% within the premarket after Financial institution of The usa Securities started protection with a “purchase” score. BofA stated the inventory is at a lovely access level given Logitech’s enlargement possibilities and powerful document of execution.

  • EBay inventory sinks after the corporate offers disappointing steering

    eBay headquarters in San Jose, California, U.S., on Monday, Aug. 9, 2021.

    David Paul Morris | Bloomberg | Getty Photographs

    Stocks of eBay slid up to 11% in prolonged buying and selling Wednesday after the web market posted its fourth-quarter profits and gave steering for the primary quarter that fell wanting Wall Boulevard’s expectancies.

    This is how the corporate did as opposed to Refinitiv consensus expectancies for the quarter:

    • EPS: $1.05 consistent with proportion ex-items, as opposed to 99 cents anticipated
    • Income: $2.61 billion, as opposed to $2.61 billion anticipated.

    EBay predicted first-quarter earnings would are available in between $2.43 billion and $2.48 billion, representing a decline of seven% to five% 12 months over 12 months, whilst analysts had on moderate anticipated earnings of $2.61 billion, in line with FactSet.

    The corporate mentioned it expects $1.01 to $1.05 in adjusted profits consistent with proportion within the first quarter, which used to be underneath consensus estimates of $1.08 consistent with proportion, in line with FactSet.

    The disappointing steering overshadowed eBay’s better-than-expected profits for the fourth quarter. The corporate posted profits consistent with proportion of $1.05, adjusted. Analysts polled via Refinitiv had anticipated 99 cents consistent with proportion.

    Income used to be $2.61 billion, in keeping with Wall Boulevard’s estimates.

    Annual lively consumers declined 9% right through the quarter to 147 million, neatly wanting the 156 million lively consumers forecast via analysts, in line with FactSet. Annual lively dealers additionally slid 8% to 17 million.

    WATCH: As a result of shortage, other people had been turning to eBay, says CEO Jamie Iannone

  • Robinhood stocks tank 15% after it loses customers, forecasts vulnerable income

    Vlad Tenev, co-founder and CEO of Robinhood rings the outlet bell on the Nasdaq on July twenty ninth, 2021.

    Supply: The Nasdaq

    Inventory-trading app Robinhood gave a bleak income forecast for the primary quarter of 2022 on Thursday as its newest profits file confirmed a decline in customers.

    Stocks of Robinhood tanked 15% in after hours buying and selling.

    The newly public brokerage anticipates first-quarter income of not up to $340 million, down 35% in comparison to 2021.Wall Side road’s consensus estimate used to be for $448.2 million in income for Q1, in keeping with FactSet.

    Per month energetic customers fell to 17.3 million closing quarter from 18.9 million within the 1/3 quarter. This quantity used to be additionally underneath estimates of nineteen.8 million, in keeping with FactSet.

    In the meantime, internet cumulative funded accounts totaled 22.7 million on the finish of the fourth-quarter, about in-line with estimates. That is up from 22.4 million accounts within the third-quarter.

    For the fourth quarter, Robinhood reported 49 cents in line with diluted percentage, wider than the 45 cent loss estimate amassed via Refinitiv. Then again, Robinhood posted $363 million in income within the ultimate 3 months of 2021, reasonably above analysts expectancies of $362.1 million.

    Robinhood is ready to stand its hardest comps within the first and 2d quarters of 2022 following its report yr in 2021 from occasions just like the GameStop brief squeeze.

    Robinhood’s inventory is greater than 86% off its most up-to-date top because the buying and selling app’s July 2021 public debut. Stocks are down greater than 34% in January, bringing its marketplace capitalization to not up to $10 billion.

    Fourth-quarter transaction-based income used to be $264 million. Choices buying and selling made up $163 million, cryptocurrency buying and selling added $48 million and equities contributed $52 million to transaction founded income in This autumn.

    A few of Robinhood’s inventory weak spot got here after its closing profits file when lighter cryptocurrency buying and selling brought about a large income pass over.

    3rd-quarter transaction founded income totaled $267 million, with best $51 million coming from cryptocurrency buying and selling. Income from crypto buying and selling totaled $233 million in the second one quarter, helped via hobby in meme-inspired dogecoin.

    For the 1/3 quarter, general internet income got here in at $365 million. Robinhood reported a internet lack of $1.32 billion, or $2.06 in line with percentage, within the 1/3 quarter.

    Internet cumulative accounts dropped to 22.4 million within the 1/3 quarter from 22.5 million in the second one quarter.