10 stories mentioning MKTXUpdated 8d ago
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MarketAxess Holdings (MKTX) has an average rating of hold and mean price target of $143.89, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
MarketAxess Holdings (MKTX) has an average rating of hold and mean price target of $143.89, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Financial stocks were higher in late Thursday afternoon trading, with the NYSE Financial Index rising 1.1% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.5%.The Philadelphia Housing Index was falling 1.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 1.5%.Bitcoin (BTC-USD) was increasing 1.3% to $64,746, and the yield for 10-year US Treasuries rose 4.1 basis points to 4.663%.In economic news, the US personal consumption expenditure price index fell 0.1% month over month in June, marking the first decline since April 2020, the Bureau of Economic Analysis reported Thursday. That helped cut the year-over-year rate to 3.7% from 4.1%.US real gross domestic product increased at a 1.5% annualized rate in the quarter ended June, according to an advance government estimate released Thursday. The consensus was for 2% growth in a survey compiled by Bloomberg.In corporate news, Intercontinental Exchange (ICE) agreed to buy electronic trading platform MarketAxess (MKTX) for about $6 billion, creating a powerhouse that aims to serve "every segment of the fixed income market." Intercontinental shares rose 1.2%, and MarketAxess surged 29%.Goldman Sachs (GS) Asset Management has launched AlphaAI, an AI investing platform to drive returns in public and private market businesses, Reuters reported. Goldman shares climbed 4.9%.A Morgan Stanley-led (MS) group of banks is in talks to lend $15 billion to a data-center developer to build a campus and power plant for Anthropic in Texas, The Wall Street Journal reported. Morgan Stanley shares rose 3.8%.Mastercard (MA) reported better-than-expected Q2 results on Thursday, buoyed by double-digit growth in cross-border volume and healthy spending. Its shares rose 2.6%.Blue Owl Capital's (OWL) data center firm Stack Infrastructure is seeking a syndicated loan of 8.5 billion Australian dollars ($5.9 billion) to back its third data center project in Melbourne, Bloomberg reported. Blue Owl shares rose 6.2%.
Financial stocks were higher in Thursday afternoon trading, with the NYSE Financial Index rising 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.4%.The Philadelphia Housing Index was falling 1.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 1.5%.Bitcoin (BTC-USD) was increasing 1.4% to $64,775, and the yield for 10-year US Treasuries was rising 3.5 basis points to 4.657%.In economic news, the personal consumption expenditures, or PCE, price index fell 0.1% in June, as expected, cutting the year-over-year rate to 3.7% from 4.1%. The price index rose by 0.5% month-over-month in May. The core PCE price index climbed 0.1% in June, below the 0.2% gain expected and following a 0.3% growth in May. The year-over-year rate dropped to 3.3% from 3.4%, according to the Bureau of Economic Analysis.US economic growth slowed more than expected in Q2, though consumer spending seemed to shrug off intensifying price measures. Real gross domestic product increased at a 1.5% annualized rate in the quarter ended June, according to an advance estimate released Thursday by the Bureau of Economic Analysis. A survey compiled by Bloomberg indicated a slowdown to 2% from the first quarter's 2.1% rate.In corporate news, Intercontinental Exchange (ICE) agreed to buy electronic trading platform MarketAxess (MKTX) for about $6 billion, creating a powerhouse that aims to serve "every segment of the fixed income market." Intercontinental shares were down 0.1%, and MarketAxess surged 29%.Mastercard (MA) reported better-than-expected Q2 results on Thursday, buoyed by double-digit growth in cross-border volume and healthy spending. Its shares rose 2.8%.Blackstone (BX) agreed to buy a home loan portfolio in Australia from HSBC (HSBC) worth 36 billion Australian dollars ($25 billion), Bloomberg reported. Blackstone shares were down 0.5%, and HSBC gained 4.5%.
Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index rising 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.4%.The Philadelphia Housing Index was falling 1.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 1.5%.Bitcoin (BTC-USD) was increasing 1.4% to $64,775, and the yield for 10-year US Treasuries was rising 3.5 basis points to 4.657%.In corporate news, Intercontinental Exchange (ICE) agreed to buy electronic trading platform MarketAxess (MKTX) for about $6 billion, creating a powerhouse that aims to serve "every segment of the fixed income market." Intercontinental shares were down 0.3%, and MarketAxess surged 29%.
Intercontinental Exchange (ICE) agreed to acquire electronic trading platform MarketAxess (MKTX) for $6 billion, creating a powerhouse that aims to serve "every segment of the fixed income market."MarketAxess' shareholders will receive $167 per share in cash, representing a 33% premium over the company's stock price at close on Wednesday, the companies said Thursday. The deal has an equity value of about $6 billion and an enterprise value of $5.7 billion.MarketAxess operates a platform for fixed-income securities, such as corporate and municipal bonds, emerging market debt, and US Treasuries. The firm connects approximately 2,100 institutional investors and broker-dealers across more than 90 countries.ICE is the parent of the New York Stock Exchange.The combined company will offer pre- and post-trade offerings, along with electronic execution for both retail and institutional investors. The merged platform aims to "serve every category of fixed income participant," the companies said."MarketAxess contributes a leading fixed-income trading network and deep market expertise, while ICE brings additional retail and wealth trading protocols, strong data, connectivity, and a broader set of product capabilities," MarketAxess CEO Chris Concannon said.The deal is expected to close in the first half of 2027, subject to MarketAxess stockholder approval and regulatory clearances.Separately, ICE reported second-quarter adjusted earnings per share of $1.90 Thursday, up from $1.81 a year ago and higher than the consensus on FactSet of $1.84. Net revenue rose 5% to $2.67 billion, exceeding Wall Street's $2.63 billion view.The company's exchange segment revenue grew 3% year over year to $1.46 billion, while fixed income and data services rose 8%.MarketAxess also reported second-quarter results Thursday, with non-GAAP EPS decreasing to $1.95 from $2 a year ago. Analysts expected $1.85. Revenue remained "relatively flat" year over year at $218.4 million, the company said, compared with the Street's estimate of $216.7 million.Revenue for the commissions business declined 3% annually to $186.9 million in the second quarter. The information services unit saw a 23% surge, with the post-trade division also posting a gain.MarketAxess' shares surged 30% to $163.13 in Thursday trade, while ICE's stock fell 1.7%."We would expect (MarketAxess) shares to trade close to the $167 offer given the straightforward all-cash structure and ICE's scale/financing certainty, with the main swing factor being antitrust review given the two firms' combined position in electronic fixed income trading and data," Wedbush Securities analyst Michael Piccolo said in a note.Price: $152.10, Change: $-2.18, Percent Change: -1.41%
Financial stocks were edging higher pre-bell Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was 0.1% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 0.3%.Banco Bilbao Vizcaya Argentaria (BBVA) stock was up more than 6% after the company posted higher Q2 adjusted earnings and gross income.ING Groep (ING) shares were up more than 5% after the company posted higher Q2 earnings and total income.Intercontinental Exchange (ICE) said it has entered a definitive agreement to acquire MarketAxess Holdings (MKTX) for $167 per share in cash, representing an enterprise value of about $5.7 billion and an equity value of about $6.0 billion. MarketAxess Holdings stock was up more than 29% premarket.
MarketAxess (MKTX) will likely benefit from abating competition and a reacceleration in electronic bond trading fueled by artificial intelligence and electronic market makers, BofA Securities said in a note Friday."As more AI-enabled tools are launched for bond trading, the value proposition of e-trading will become increasingly superior to the phone," the investment firm said.BofA analysts said MarketAxess was the first mover in bond electronic trading, but its market share has fallen to 33% from 57% in five years with the entry of rivals like Tradeweb (TW) and Trumid with a superior innovation engine, the note said. Tradeweb and Trumid, however, "have already picked the low-hanging fruit" and MarketAxess' share losses are now expected to decelerate, analysts said.As MarketAxess valuation is sliding to an all-time low at the same time that competitive headwinds are subsiding, there is an opportunity to be more constructive on the company's shares, the investment firm said.MarketAxess may also benefit from an increase in hyperscaler debt issuance, which has jumped 8 times year to date, and already accounts for 10% of total US investment grade corporate bond issuance, the note said.BofA upgraded MarketAxess to neutral from underperform, with a $170 price target.Shares of MarketAxess were up more than 3% in Friday trading.Price: $120.02, Change: $+3.69, Percent Change: +3.17%
MarketAxess Holdings (MKTX) has an average rating of overweight and mean price target of $174.64, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
MarketAxess Holdings (MKTX) has an average rating of overweight and mean price target of $174.64, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
