iStockAnalyst.com (Free subscription) | 10/16/2009
BlackRock, the largest publicly traded asset manager in the US, is scheduled to report third quarter results on Tuesday, October 20, 2009. In the last two quarters, the company’s actual earnings exceeded the market’s consensus. [More...]
iStockAnalyst.com (Free subscription) | 07/21/2009
BlackRock Inc. (NYSE:BLK), the largest publicly-traded U.S. asset manager, on Tuesday beat the Street for the second quarter with an adjusted-profit of $1.75 per share, or $239 million. Net income, as adjusted, was 117% higher than first quarter 2009 and 16% lower than second quarter 2008. The investment management firm said second-quarter profit dropped on a year-over-year basis as assets under management...
Market Watch (Free subscription) | 07/21/2009
NEW YORK (MarketWatch) -- BlackRock Inc. said Tuesday that its second-quarter profit was down 16% from the year-ago period, to $218 million, or $1.59 a share, from $274 million, or $2 a share. Adjusted net income for the latest quarter was $1.75, said the firm, while revenue was $1.03 billion. Analysts surveyed by FactSet Research had expected, on average, adjusted net income of $1.58 a share on revenue...
Market Watch (Free subscription) | 07/13/2009
BOSTON (MarketWatch) -- Stocks face a downside risk as companies release second-quarter financial results that may not meet rising forecasts, BlackRock Inc.'s chief investment officer for equities said Monday. "Earnings expectations have been raised significantly over the past several months, and meeting those expectations could prove difficult in the current environment, which has the potential...
SeekingAlpha.com (Free subscription) | 07/09/2009
Karl Denninger submits: So Thursday morning we get the list of PPIP "managers", and guess who's missing? The U.S. Treasury Department picked nine money managers yesterday for the Public-Private Investment Program, or PPIP, including BlackRock Inc. and Invesco Ltd. Pimco, which in March announced plans to apply, said it withdrew its application in June because of “uncertainties”...
Market Watch (Free subscription) | 07/08/2009
WASHINGTON (MarketWatch) -- A significantly diminished public-private government program designed to take up to $40 billion in so-called toxic mortgage securities and other assets off bank balance sheets was unveiled Wednesday, with the Treasury picking nine investment managers to participate in the program. The plan is significantly scaled back, with the Treasury announcing that it will invest up...
Market Watch (Free subscription) | 07/01/2009
NEW YORK (MarketWatch) -- Financial stocks in the S&P 500 were still higher by midday Wednesday, with Janus Capital Group Inc. among the biggest gainers after analysts at Credit Suisse said the asset manager overtook Blackrock Inc. as the strongest performing mutual fund manager over a three-year stretch in May. The benchmark financial sector exchange-traded fund, Financial Select Sector SPDR...
Market Watch (Free subscription) | 07/01/2009
BOSTON (MarketWatch) -- Bids for Bank of America Corp.'s asset-management unit, Columbia Management, have come in lower than the company had hoped, the Financial Times reported Wednesday. One reason for the tepid offers is that BlackRock Inc. , once the most probable suitor, has reached a deal to buy Barclays Global Investors, the newspaper reported. B. of A. was aiming to sell Columbia for at least...
Market Watch (Free subscription) | 06/16/2009
BOSTON (MarketWatch) -- British banking giant Barclays on Tuesday said its board has accepted BlackRock Inc.'s $13.5 billion offer to buy Barclays Global Investors. Barclays plans to recommend the transaction for shareholder approval at a general meeting to be held in early August. Barclays said it would pay a breakup fee of $175 million to private-equity firm CBC Capital Partners, which had reached...
Market Watch (Free subscription) | 06/12/2009
BOSTON (MarketWatch) -- BlackRock Inc. Chief Executive Laurence Fink on Friday told Fox Business he has no plans to raise expense ratios at Barclays Global Investors' lineup of exchange-traded funds. BlackRock announced a deal to acquire the Barclays subsidiary for $13.5 billion. "I could say with total clarity they're not going higher," Fink said during an interview with Fox Business. "We're...
Financial24 (Free subscription) | 06/12/2009
Barclays Plc will reap a net gain of $8.8 billion from the sale of its Barclays Global Investors unit to BlackRock Inc., boosting its capital ratios. The sale of the asset management unit will increase the bank's core Tier 1 capital ratio, a measure ...
Financial24 (Free subscription) | 06/12/2009
NEW YORK, June 12 - Standard&Poor's on Friday lowered BlackRock Inc's debt ratings by one notch after the largest publicly traded U.S money manager agreed to buy Barclays Global Investors . The $13.5 billion deal to buy British bank Barclays Plc's ...
Market Watch (Free subscription) | 06/12/2009
SAN FRANCISCO (MarketWatch) -- Standard & Poor's said Friday it lowered its ratings on BlackRock Inc. following the firm's announced purchase of Barclays Global Investors for $13.5 billion in cash and stock. S&P cut BlackRock's counterparty credit rating to A+/A-1 from AA-/A-1+. The outlook is negative. "We believe the overall debt burden is moderate, but initial credit metrics for the...
Market Watch (Free subscription) | 06/12/2009
NEW YORK (MarketWatch) - Shares of U.S. financial stocks lost some ground early Friday as markets digested a huge acquisition in the asset management industry, and investors awaited the latest reading of consumer sentiment. The benchmark financial sector ETF, the Financial Select Sector SPDR shed 0.2 ahead of the 10 AM ET release of U.S. consumer sentiment. In the news, BlackRock Inc. late Thursday...
Market Watch (Free subscription) | 06/12/2009
BOSTON (MarketWatch) -- BlackRock Inc. Chief Executive Laurence Fink on Friday said that if the company's $13.5 billion deal to purchase Barclays Global Investors goes through, the firm could review its dividend policy. Fink was responding to a question about the company's potential free cash flow assuming the BGI transaction is closed, during a conference call Friday. Additionally, the BlackRock...
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