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Research Alert: Msci: Q1 Eps Beat As Msci's Operating Leverage On Full Display

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CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

MSCI posted strong Q1 2026 results with operating EPS of $4.55 vs. $4.00 in the prior year, beating consensus by $0.09, while revenues of $851M (+14% Y/Y) exceeded estimates by $10M. The company achieved two consecutive quarters of double-digit revenue growth after four quarters below 10%, with operating margins expanding 310 bps to 53.7% as expense growth was managed at 6.8%. The Index segment drove performance with $496M in revenues (+18% Y/Y) and strong asset-based fee growth of $225M (+27% Y/Y), supported by robust $103B in quarterly cash inflows. AUM in ETFs linked to MSCI equity indexes reached $2.403T at quarter-end, though basis point fees declined 6 bps Q/Q to a new low of 2.35. Retention rates recovered to the highest level since 2023 at 95.4% after falling to 92.8% in early 2024, with Index leading at 96.9% and Analytics maintaining 95.3%, while net new recurring subscription sales surged 51.7% Y/Y, indicating healthy demand momentum.

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Research Alert: Rio Tinto Delivers 9% Copper Equivalent Growth; All 2026 Guidance Unchanged

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Research Alert: Aapl: Tim Cook Steps Down Earlier Than Thought; Well Planned And Minimizes Risk

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Research Alert: Alk: Q1 Loss Widens On Fuel Headwinds; Company Suspends Full-year Guidance

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:ALK reported Q1 adjusted EPS of -$1.68, widening from -$0.77 in the prior year and missing the -$1.55 consensus, while revenue of $3.3B (+5.2%) met expectations. Unit revenue rose 3.5%, led by strong corporate travel (+19%) and premium segments, but unit costs increased 6.3% from airport, maintenance, and pilot training pressures. The Hawaiian integration and Alaska Accelerate strategy are delivering results ahead of schedule, with Seattle-Tokyo achieving profitability and 90%+ load factors within a year of launch. Management suspended full-year guidance due to fuel cost volatility, though ALK maintains confidence in its long-term trajectory. Looking ahead, Q2 fuel costs are expected to average $4.50 per gallon, representing a 51% sequential increase and $600M headwind equivalent to $3.60/share. We believe the $10 2027 EPS target will be increasingly challenging given current fuel dynamics and guidance suspension, but operational excellence during integration demonstrates management's execution capabilities.

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