Browsing: Earnings

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Rise of the Super Bulge: Growing Concentration in Equity Franchises

Over the last five years, the top five equities franchises have gained share from the five next largest equities businesses as more market power has become concentrated into fewer firms. ...
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Cowen’s Brokerage Revenues Up 118% In Q1 2018

Cowen Group, a mid-sized NY investment bank, reported doubling brokerage revenues over the last year, primarily reflecting its acquisition of Convergex.  More telling was the 10% sequential increase in revenues ...
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Q1 2018 Bulge Bank Equities Results: A Banner Quarter But Less So For Non-US Banks

With all the major investment banks reporting, equities revenues for the largest investment banks fell grew 21% in the first quarter to $13.6 billion from $11.2 billion a year ago, ...
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Bernstein Research Blames MiFID II For Tepid Q1 2018 Results

AllianceBernstein reported that Bernstein Research revenues increased 1% in the first quarter of 2018 from the previous year, citing unbundling as a negative influence on revenues. Bernstein Research posted $114 ...
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Evercore ISI Revenues Down 13% In Q1 2018

Evercore blamed a “shrinking research wallet” for its first quarter 2018 fall in commission revenues, which were down 13.4% from last year’s first quarter and down 24% from the previous ...
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US Bulge Equities Revenues Surged 32% in Q1 2018

Happy days were here again for the top US investment banks as first quarter equities revenues attained levels not seen since the financial crisis.  Equities revenues increased by nearly a ...
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Jefferies Reports Tepid First Quarter Equities Results

Jefferies Group LLC, the investment-banking unit of Leucadia National Corp which reports earlier than its rivals, garnered $155.8 million in equities revenues for the first quarter 2018 period ending February ...
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RBC’s Equities Revenues Rebounded Q1 2018 Alongside Alternative Data Initiative

Royal Bank of Canada’s equities revenues fell 5.5% for its fiscal year ending October 31, 2017 but improved sharply for the fiscal first quarter ending January 31, 2018.  Separately, RBC ...
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2017 Bulge Bank Equities Down 5% in 2017 As Non-US Banks Struggle

With all the major investment banks reporting, equities revenues for the largest investment banks fell 5% in 2017 after a weak fourth quarter.  Although non-US bulge banks fared better in ...

Morningstar Reports Strong 4th Qtr and Full-Year 2017 Sales Growth

Earlier this week, Chicago-based research, data and analytics business, Morningstar, reported strong 4th Qtr and full-year 2017 results, highlighted by strong revenue and cash flow growth, while operating income and ...
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