Ugly 2Q for Alliance Data Systems, but Still Immensely Profitable
Narrow-moat Alliance Data Systems has entered a new chapter in its leadership, as Melisa Miller and Tim King have assumed the roles of CEO and CFO, respectively. During the second quarter, the company earned $2.71 per diluted share from continuing operations. This was a more than 30% decline from the previous year as ADS' receivables portfolio declined by 2% and the company no longer includes its divested Epsilon segment in its results. While this was ugly, it was not unexpected by us or the mar...Alliance Data Systems is a provider of data-driven marketing and loyalty solutions. The company operates in two segments: LoyaltyOne? and Card Services. LoyaltyOne provides coalition and short-term loyalty programs through the Canadian AIR MILES? Reward Program and BrandLoyalty Group B.V. Card Services encompasses credit card processing, billing and payment processing, customer care and collections services for private label retailers as well as private label and co-brand retail credit card and loan receivables financing, including securitization and other funding of certain credit card and loan receivables that it underwrites from its private label and co-brand retail credit card programs.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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