Nasdaq Is More About Acquisition Synergies Than Industry Trends
Nasdaq’s future earnings growth trajectory is interesting in that it is arguably more based on acquisition synergies than catching industry trends. The company reported net income of $131 million, or $0.77 per diluted share, on $585 million of net revenue for the third quarter of 2016. Reported revenue increased 11% from the previous year, but all of the revenue growth was attributable to acquisitions, such as the ISE from Deutsche Boerse. We don’t’ anticipate making a significant change to our ...Nasdaq is a holding company. Nasdaq is a holding company. Through its subsidiaries, the company manages, operates and provides its products and services in business segments: Market Services, which includes equity derivative trading and clearing, cash equity trading, fixed income and commodities trading and clearing and trade management services businesses; Corporate Services, which includes listing services and corporate solutions businesses; Information Services, which includes market data, index, and investment data and analytics; and Market Technology, which provides and delivers solutions across the trade lifecycle via the Nasdaq Financial Framework.
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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