Thomson Continues to Expand Margins; FactSet's Vermillion Appears to Be Pressuring Cash Flow
There wasn’t much in narrow-moat-rated Thomson Reuters’ second quarter that would cause to meaningfully adjust our fair value estimate. The company generated revenue of $2.8 billion, modestly below our expectations. However, Thomson Reuters achieved better-than-expected margins most through lower expenses. In addition, the company increased earnings guidance for 2017 to $2.40 to $2.45 per share from $2.35. Offsetting this, management increased its outlook for capital spending to 9% of revenue fr...Thomson Reuters provides source of news and information. Co. operates three business: Financial & Risk, a provider of news, information and analytics, enabling transactions and connecting communities of trading, investment, financial and corporate professionals, as well as a provider of regulatory and operational risk management solutions; Legal, a provider of online and print information, decision tools, software and services that support legal, investigation, business and government professionals; and Tax & Accounting, a provider of integrated tax compliance and accounting information, software and services for professionals in accounting firms, corporations, law firms and government.
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.
We have operations in 27 countries.
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