With the increased adoption of technology, wealth managers should be prepared to stay abreast with clients' demands. As FactSet noted, some have already stumbled with high-profile reports of platform glitches, system outages, and duplicate trade errors.
After a week of disappointing earnings reports from big biopharma firms, Pfizer bucked the trend early Tuesday, reporting first-quarter earnings and revenue that beat Wall Street expectations. (ticker: PFE) reported adjusted diluted earnings of 93 cents per share for the quarter, beating the FactSet consensus estimate of 77 cents a share.
Shares of the genetic testing company Myriad Genetics were up nearly 12% in premarket trading Tuesday, after the company reported first-quarter earnings that blew past market expectations. Late Monday, Myriad disclosed quarterly revenues of $173.1 million for the quarter that ended March 31, beating the FactSet analyst consensus estimate of $154.4 million.
Shares of Marathon Petroleum slipped Tuesday even after the oil refiner narrowed its losses and topped first-quarter estimates. Shares of the Findlay, Ohio, company dropped 0.8% to $56.71 at last check. Marathon Petroleum reported a GAAP net loss of $242 million, or 37 cents a share compared to a net loss of $9.2 billion, or $14.25 a share, in the year-ago period.
Shares of iRobot dropped Monday even after the producer of consumer-focused robots swung to a stronger-than-expected first-quarter profit and raised its revenue outlook. The Bedford, Mass., company also said it affirmed its profit outlook "as we plan to carefully manage our spending to offset higher-than-expected costs arising from the tighter availability of semiconductor chips as well as rising raw material, freight and transportation costs."
Shares of CVS Health Corp. rallied 3.6% toward a 2 1/2-year high in premarket trading Tuesday, after the drugstore chain and health care services company reported first-quarter profit and sales that rose above expectations, with growth in all segments, and raised its full-year outlook.
Mosaic - Shares of the fertilizer maker dipped more than 3% in extended trading after company's first-quarter results were released. Mosaic earned 57 cents per share excluding items on $2.3 billion in revenue. Analysts surveyed by FactSet were expecting the company to earn 54 cents per share on $2.26 billion in revenue.
By Dominic Chopping Norwegian telecom provider Telenor ASA on Tuesday said it swung to a first-quarter net loss after fully impairing the value of its Myanmar operations following a military coup in the country earlier this year.
A stellar earnings season has done little to impress the market in recent days, and the weakness continues at the start Tuesday. Next up are earnings from the two ride-hailing giant Uber and Lyft-reports that could offer a glimpse into life beyond Covid.
Factset Research Systems Inc (NYSE: FDS) shares gained 1.74% to end trading Monday at $342.06 per share - a net change of $5.84. Shares traded between $344.68 and $334.80 throughout the day. 181907 shares of Factset Research Systems Inc exchanged hands. Visit Factset Research Systems Inc's profile for more information.
Stocks built on Q1's momentum, with the S&P 500, Dow, and Nasdaq Composite reaching successive record highs in April. Developed market and emerging market stocks also had a solid month.
Under Armour Inc. stock rose 2.8% in Tuesday premarket trading after the athletic company reported first-quarter earnings that beat expectations and raised its guidance. Net income totaled $77.8 million, or 17 cents per share, after a loss of $589.7 million, or $1.30 per share, last year.
Clover Health (NASDAQ:) stock is a lightning rod. The disruptive health insurance company has been plagued by controversy all year and saw its shares tumble from $15 to $7. It trades today at a little more than $9. However, the stock has surged once again in recent weeks on far-above-average trading volume.
Foodservice distributor Sysco Corp. reported fiscal third-quarter net income of $88.9 million, or 17 cents per share, after a loss of $3.3 million, or 1 cent per share, last year. Adjusted EPS of 23 cents was up from 22 cents last year and ahead of the FactSet consensus for 20 cents.
Shares of Warner Music Group Corp. advanced 0.9% in premarket trading Tuesday, after the music recorder and publisher reported a fiscal second-quarter profit and revenue that beat expectations, boosted by 23% growth in streaming revenue. The company swung to net income of $117 million, or 22 cents a share, from a loss of $74 million, or 15 cents a share, in the year-ago period.
DuPont de Nemours Inc. reported Tuesday first-quarter profit and sales that beat expectations, with all of its business segments showing growth, and raised its full-year outlook. The stock was not active in premarket trading.
Shares of S&P Global Inc. inched 0.90% higher to $393.90 Monday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index rising 0.27% to 4,192.66 and the Dow Jones Industrial Average rising 0.70% to 34,113.23. S&P Global Inc.
What do Jay-Z, A-Rod, Ciara, Serena Williams, Shaq, hedge fund billionaire Bill Ackman, former house speaker Paul Ryan, and Richard Branson all have in common? One word, well, acronym: SPACs.
U.S. stock funds now are riding a river of new cash from investors - and that is not a bullish sign. Many investors might see this differently - that a huge influx of cash is positive. In fact, fund flows are a contrarian indicator: the U.S.
There seems to be a game out there to try and predict Fed movements. After all, it's clear liquidity is the name of the game for markets: Strong liquidity means bold and aggressive buying of stocks. The opposite holds true when there is a choke hold on liquidity.