Increases in Revenue on Flattish Expenses Will Lead to Superior Earnings Growth at Intercontinental
Intercontinental Exchange reported decent third-quarter results, but some positive cyclicality or its investments have to ramp up for earnings to impress. On an adjusted basis that primarily accounts for the company’s acquisitions, such as Interactive Data, Intercontinental Exchange reported a 4% increase in operating income to $594 million. The $28 million, or 5%, growth in the company’s data and listings business along with expense synergy savings more than offset the $23 million, or 4%, decli...Intercontinental Exchange is a holding company. Through its subsidiaries, the company is a global operator of regulated exchanges, clearing houses and listings venues, and a provider of data services for commodity, financial, fixed income and equity markets. The company operates regulated marketplaces for listing, trading and clearing an array of derivatives contracts and securities across primary asset classes, including metals, equities, bonds and currencies, and also provides mortgage and technology services. In addition, the company provides data services to support the trading, investment, risk management and connectivity needs of customers. The company has two segments: Trading and Clearing and Data and Listings.
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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