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27 октября, 23:09

T. Rowe Price's (TROW) Q3 Earnings Miss, Revenues Rise

T. Rowe Price (TROW) reported adjusted earnings per share of $1.17, missing the Zacks Consensus Estimate of $1.20.

26 октября, 17:25

Janus Capital (JNS) Stock Dips 4% Despite Q3 Earnings Beat

Janus Capital Group, Inc. (JNS) reported adjusted earnings per share of 24 cents, beating the Zacks Consensus Estimate by a penny.

26 октября, 14:51

Waddell & Reed's (WDR) Q3 Earnings Beat, Outflows Rise

Waddell & Reed Financial Inc. (WDR) reported third-quarter 2016 adjusted earnings of 64 cents per share, surpassing the Zacks Consensus Estimate of 51 cents.

13 октября, 08:11

Новый инвестиционный гигант подаст пример фондам

Когда компании сливаются, то их руководители, как правило, полны невероятного оптимизма. Что-то похожее было и на состоявшейся на пресс-конференции по поводу слияния Henderson Global Investors и Janus Capital.

13 октября, 08:11

Новый инвестиционный гигант подаст пример фондам

Когда компании сливаются, то их руководители, как правило, полны невероятного оптимизма. Что-то похожее было и на состоявшейся пресс-конференции по поводу слияния Henderson Global Investors и Janus Capital.

07 октября, 19:27

Top Research Reports for Amazon, Celgene & Chubb

Top Research Reports for Amazon, Celgene & Chubb

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07 октября, 14:53

"I Initially Doubted What I Saw On My Screen" - Wall Street Responds To The Historic "Pounding"

Today's biggest story was supposed to be the September payrolls; instead courtesy of a few wild algos, a fat finger, or a deliberate attack on sterling during the most illiquid time in the day,  it was the 6% "pounding", as sterling tumbled dramatically in chaotic trading that included a flash, 2 minute drop in early Asian hours and sustained falls in London. By morning it had managed to recoup much of its losses however the selling pressure has continued and the currency appears unable to regain all of its losses as would have been the case if this was a mere "fat finger."  The sharp drop in illiquid Asian trading came amid worries about the U.K.’s "hard exit" from the EU, accelerated by computerized trades. The pound fell more than 6% just after 7 a.m. Hong Kong time on Friday to as low as $1.1819 from just above $1.26, before recovering above $1.24, according to Thomson Reuters data. But it took another dive in London hours and was down to just over $1.23. But more interesting even than the drop itself, were Wall Street's reactions to the "pounding", and none was more indicative than that of Kenji Yoshii, a foreign exchange strategist at Mizuho Securities, who told WSJ that “I initially doubted what I saw on my screen." Here are some other notable quotes from stunned market participants: “This is not something you would expect in a half-efficient market,” said Ulrich Leuchtmann, head of FX at Commerzbank. “We have a liquidity situation which has eroded massively over the last few years and policy makers have largely ignored it. All the regulation that we have in place, for good reason, has the side-effect that liquidity in the FX market is much more shaky and fluctuating heavily, and we have times when it’s extremely low, especially in Asian trading.”  “It’s becoming more a fact of life,” said Kay Van-Petersen, global macro strategist at Saxo Capital Markets Pte in Singapore. “A lot of the risk takers that used to supply liquidity before are no longer there, the prop guys at the banks. That’s definitely one of the key issues affecting the markets.” “There was a complete lack of two-way interest in buying the pound on the way down,” said Jeffrey Halley, a senior market strategist at Oanda. “A sudden move in a very quiet time not linked to any information is highly unlikely to be due to any algorithm,” said Lyle Pakula, chief investment officer of Melbourne-based hedge fund AE Capital, which uses automated computer programs to make trading decisions. “In my opinion, the source of the run is likely due to a discretionary trader trying to push the market.” “It caught the market wrong-footed and triggered a lot of algorithmic selling,” said Hugh Killen, Westpac Banking Corp.’s head of trading for foreign exchange, fixed income and commodities in Sydney. “We didn’t see any significant demand for sterling off the low.” “We’ll probably never know why it has actually sold off, if it’s a fat finger, or just algos,” said Ryan Myerberg, a portfolio manager at Janus Capital in London. “There’s no doubt that there’s an electronic component to it.” * * * Below is a more comprehensive reaction from Mint's Bill Blain It’s a little bit Funboy Three this morning.   What does last night’s algo-driven Sterling fat finger moment tell us? As the pound momentarily crashed 6 big figures – in fact Bloomberg reports a low trade at $1.1378! - it seems to confirm incipient fear and uncertainty on where the UK is headed. Brexit over? Don’t believe it for a moment.    Of course, some folk will say last night’s spike is just another example of fat-fingers in a thin market and means nothing. I doubt it. Fat fingers tend to follow the narrative.    Will the UK narrative continue to get worse? At a dinner with Europe’s hard-men enforcers last night (Juncker, Barnier, et al), Hollande was calling for aggressive Brexit negotiations to discourage other nations from “such foolishness” – I’d think he’ll get a shock if his own countrymen got the vote..    Oh they do? Next year! Swings and roundabouts indeed.   I don’t suppose it helps that the great and the good of the UK’s exit-driven right-wing loonies were punching each other out on the floor of the European parliament. Nice. Perhaps that’s the right message to send Europe.. “we’re so frecking crazy we’re beating ourselves up”. The Russians must be wetting themselves in anticipation of a divided Europe sans the Parachute Regiment as they ponder real estate on their (current) borders.     And, we had a surreal moment on the desk y’day as we wondered what it means for the UK as the slightly more elected right-wing lunatics threaten to take back the asylum known as monetary and fiscal policy.  As we digested speeches, news flow, moving gilts and stocks, and considered the Leaderene’s latest comments on beating up bankers, up flashed a story about a US school menaced by a pratfall (yes, that is the collective noun) of clowns*!    How apt I thought…   Apparently, the school sent an automated message to parent’s phones: “Hi this is Fairhope middle school calling with an important message,” the cheerful voice began. “Please rest assured that your students are safe and the school is taking necessary precautions due to rumored clown activity. The school perimeter is secured and the police are on campus.”   If that doesn’t scare the bejesus out you, then you don’t suffer from coulrophobia.    Should we be concerned that Phil “Spreadsheet” Hammond is earnestly talking about taking back the economy for the people? The hints the Treasury is going to start a serious bout of fiscal experimentation.. with taxes and some proper spending plans … are there. Yesterday they declared against further QE.    I suspect someone has been booked a one-way family ticket back to Canada…    It makes you think.   If the UK switches off QE because of an unforeseen outbreak of common sense among politicians.. what hope for elsewhere? What if Germans suddenly see the light? Or Italians decide.. “well, actually, it’s our country… and if we want to borrow and spend.. that’s our problem.. (till we can convince the ECB it’s theirs!)” Or the Spanish finally decide a government might be a good thing – especially one that promises jobs for the kids..    No wonder bunds are paying interest again…   And… if Theresa May has actually decided she’s going to run the UK – unlike her predecessor who thought it a much better idea to let his chums in the City and Bond Street “just get on with it” – then it’s absolutely essential everyone subscribes to the Daily Torygraph... As someone famous once said.. “I read the Torygraph so I know what the enemy is thinking..” * * * Finally, while nobody anticipated last night's flash crash which stopped out countless cable longs, here is what much of the sellside said about yesterday's "pounding" courtesy of BBG: HSBC Keeps forecast at 1.20 for GBP/USD by year-end and 1.10 by end-2017 with EUR/GBP at parity, David Bloom, global head of FX research, writes in client note GBP used to be a relatively simple currency that traded on cyclical events and data, but now it has become a political and structural currency Pound is now the de facto official opposition to the government’s policies Deutsche Bank Expects pound to revisit lows seen during the Asian trading session and keeps forecast for GBP/USD at 1.15 by next year “Shocking moves overnight, even for GBP bears like us,” analyst George Saravelos writes Pound plunge is likely to give U.K. PM Theresa May and her team second thoughts on the tone of future statements on Brexit: MORE BofAML Low in forecasts is 1.26 for early next year, with downside risks to projections, Athanasios Vamvakidis, head of G-10 FX strategy, writes in e-mailed comments Still, today’s move has nothing to do with fundamentals given algos triggered stop losses; it could prove to be a tactical buying opportunity Bank of Montreal Cuts GBP/USD forecasts on Friday; now sees cable at 1.18 in 6 mos. from 1.25 previously, strategist Stephen Gallo writes in note Sees GBP rebound by the end of 3Q 2017 as weak currency will result in an improvement in the U.K.’s income deficit within the current account Doesn’t expect a “hard Brexit” and sticks to upward sloping profile for GBP; 12-mo. forecast at 1.35 UniCredit Reiterates year-end forecasts for GBP/USD at 1.20 and EUR/GBP at 0.93, strategist Vasileios Gkionakis writes in client note In addition to the U.K.’s free access to the single market and trade becoming costlier, investors are now perplexed by the country’s vision on immigration, openness and business friendliness Still early days to determine the end result but one thing seems certain: sterling will remain under “severe pressure” Credit Agricole Latest developments pose some downside risks to long- term GBP forecast, strategist Valentin Marinov writes in e-mailed comments Even if selling pressure on GBP fades near term, prospects for a “hard Brexit” and lower potential U.K. growth could mean the pound will linger close to the lows for longer than previously expected BBVA Sticks to forecast for EUR/GBP to consolidate between 0.85-0.90 and cable dropping to 1.23 by year-end, strategist Roberto Cobo Garcia writes in e-mailed comments Sterling unlikely to weaken further given stretched speculative short positioning; Brexit noise and fears of a “hard Brexit” will continue to weigh on GBP Rabobank Very likely to be pushing forecasts lower in coming days, analyst Jane Foley writes in e-mailed comments Bank was of the view that it may have taken another 6 to 9 months to reach 1.24 Societe Generale Keeps forecast for GBP/USD to hit 1.23 in March; bias is to automatically overreact to every move, strategist Kit Juckes writes in e-mailed comments “Just because we are going there quickly doesn’t mean we should blindly extrapolate, unless there’s a genuine reason to do so,” Juckes writes

06 октября, 17:45

Business this week

Print section UK Only Article:  standard article Issue:  The road to Brexit Deutsche Bank’s battered share price rose, amid reports that it was negotiating a much smaller settlement with the US Department of Justice than the $14 billion it had been asked to pay for claims related to mortgage-backed securities. The German government reiterated that it had no plans to rescue the bank. Concerns about the health of the wider European banking industry were underscored by an announcement from ING, a Dutch bank, that it is shedding up to 7,000 jobs, a decision it in part blamed on ultra-low interest rates. Commerzbank, Germany’s second-biggest bank, announced 9,600 job losses. Delta Lloyd, one of the largest insurers in the Netherlands, received a hostile takeover bid from NN Group. The Dutch central bank has named insurers (and pension funds) as the greatest risks to the country’s financial stability. Across Europe, insurers are vulnerable to takeovers as they struggle to cope with low interest rates and increasing capital requirements. See article. Janus Capital, an American asset-management company, and Henderson Global Investors, an Anglo-Australian one, agreed to merge. The combined firm will have ...

06 октября, 17:45

Asset management: Active defence

Print section UK Only Article:  standard article Issue:  The road to Brexit Fly Title:  Asset management WHEN firms merge, their bosses gush Panglossian jargon. So it was with the tie-up announced this week of Henderson Global Investors, an Anglo-Australian asset manager, and Janus Capital, an American one. Janus Henderson, as the combined business will be known, will become a “truly global” asset manager that will deliver “compelling value creation”, boasted its American half. Yet behind the boosterism lie the real fears of active fund managers: of losing business to passive ones—ie, those offering funds that simply track a market index. It is hard not to see the merger as, more than anything, a defensive move. To be fair, the companies do have a strong business case for merging. Janus is deeply established in America and Japan. It is famous for having in 2014 hired Bill Gross, the “bond king”, when he abruptly left Pacific Investment Management Co, PIMCO, the firm he co-founded and turned into a giant. Henderson’s sales network is centred on Europe. The firms stand to gain more from selling each other’s products in new markets ...

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04 октября, 18:49

Bill Gross of Janus warns financial markets have become 'a Vegas casino'

NEW YORK (Reuters) - Global central bank policy makers have turned world financial markets into a casino, thanks to their unprecedented monetary policies, bond investor Bill Gross of Janus Capital Group warned on Tuesday.  

04 октября, 17:39

Билл Гросс: центробанки превратили экономику в казино, которое угрожает капитализму

Билл Гросс в очередной раз прошелся по центробанкам. Известный инвестор из Janus Capital опубликовал свой ежемесячный отчет во вторник и в очередной раз сравнил мировые центробанки с опасной игрой, в этот раз — с блекджеком.В своем докладе Гросс упоминает теорию мартингейла, согласно которой игрок в казино в конечном счете выиграет, если постоянно будет увеличивать свои ставки. Затем Гросс сравнивает крупнейшие мировые центробанки — ФРС, Банк Японии и Европейский Центробанк — с одним из таких игроков, называя их «мартингейлеры без кошелька».«Наши финансовые рынки стали как казино в Вегасе/Макао/Монте-Карло, в которых делают ставку на то, что неограниченное предложение кредита, генерируемого центробанками, успешно восстановит мировые экономики и вдохнет новую жизнь в рост ВВП на более низких, но приемлемых уровнях в сегодняшнем сильно закредитованном мире.» Конечно, в теории центробанки могут продолжать печатать деньги и скупать активы и снижать доходности по облигациям до тех пор, пока не будут достигнуты их цели. Теоретически, нет никаких лимитов, которые бы ограничивали центробанки в этих действиях, так же как нет и теоретических лимитов в ставках для мартингейлера. Интересное сходство с мартингейлом заключается в том, что центробанки фактически имеют бесконечный запас денег и они могут делать ставку 31-ый, 32-ой, «да-какой-угодно» раз. В конце концов, они уже раздули балансы на 15+ триллионов с момента Великой Рецесии. Так почему бы не раздуть до 16 триллионов, а потом и до 20 и 30?По мнению Гросса, проблема центробанков в том, что они работают в реальном мире, а не в теоретическом, и в конечном счете сбережения «выветриваются» от отрицательных доходностей, что причиняет боль инвесторам и вредит мировым финансовым рынкам. Сам Гросс пишет:«Центробанки не могут постоянно удваивать ставки без риска того, что прилетит черный или возможно серый лебедь на глобальные финансовые рынки. В некоторый момент инвесторы, уставшие от отрицательных или близких к нулю доходностей, могут уйти от традиционных финансовых институтов для получения более высоких прибылей, а еще лучше — и менее рискованных. Биткойн и технологии, основанные на блокчейне, используемые некоторыми глобальными банками — это лишь некоторые примеры попыток стабилизировать стоимость оборотных активов. Золото может быть другим примером — это уже традиционный метод сбережения. В любом случае, текущая система начинает подвергаться испытаниям.» Все это означает, что центробанки не смогут бесконечно удерживать низкие ставки. Учитывая то, что ФРС уже начинает процесс поднятия ставок и ЕЦБ недавно дал понять, что он может свернуть свою программу скупки активов, многие центробанки уже это осознали.Гросс говорит о том, что такая политика (низких доходностей) угрожает самому капитализму, поскольку нельзя эффективно использовать капитал. Центробанки создали казино-подобную среду, где у инвестора не спрашивают, хочет ли он терять деньги или нет, ему лишь дается возможность выбрать способ потери денег. Это ни к чему хорошему не приведет.Оригинал: http://www.businessinsider.com/bill-gross-central-bankers-turned-economy-into-casino-2016-10

04 октября, 17:29

Облигационный гуру советует инвестировать в биткоины и золото

Билл Гросс советует желающим сохранить капитал делать ставку на активы, не подвластные центробанкам, которые превратили финансовые рынки в казино.

04 октября, 17:16

Company News for October 04, 2016

Companies In The News are: TSLA,JNS,CAB,MACK

04 октября, 14:48

Bill Gross of Janus warns financial markets have become 'a Vegas casino'

NEW YORK (Reuters) - Global central bank policy makers have turned world financial markets into a casino, thanks to their unprecedented monetary policies, bond investor Bill Gross of Janus Capital...

04 октября, 14:44

Frontrunning: October 4

WikiLeaks' Assange signals release of documents before U.S. election (Reuters) Kaine and Pence Look to Assure (and Attack) at Vice-Presidential Debate (BBG) Pound tumbles to 31-year low, Deutsche Bank bounces (Reuters) Trump Digs In Over Tax Disclosure (WSJ) Oil eases as Iran, Libya output rises hit OPEC deal momentum (Reuters) Hurricane Matthew slams into western Haiti with deadly waves (Reuters) The Supreme Court Will Hear Its First Insider-Trading Case in 20 Years (BBG) Global Inflation Falls to Seven-Year Low (WSJ) Boeing’s Unique Accounting Method Helps Improve Profit Picture (WSJ) Manhattan Apartment Sales Plunge 20% as Homebuyers Get Pickier (BBG) Coming Soon to Chinese Movie Theaters: Mergers and Acquisitions (WSJ) Science of 'exotic' states of matter lands Nobel physics prize (Reuters) Italy Markets Debut 50-Year Bond (WSJ) Existential Threat to World Order Confronts Elite at IMF Meeting (BBG) JPMorgan prepares to pull Chase ATMs from Walgreens stores (Reuters) Iran Prepares for an Uptick in Tourism (WSJ) Google expected to unveil new phones at San Francisco event (Reuters)   Overnight Media Digest WSJ - Bass Pro Shops struck a deal to buy Cabela's Inc for about $4.5 billion in cash, uniting two of the biggest sellers of outdoor sports gear. http://on.wsj.com/2cPevB1 - Janus Capital Group Inc will sell itself to British rival Henderson Group Plc, in an effort to help it compete with increasingly popular low-cost providers, for an all-share deal valued at $2.61 billion. http://on.wsj.com/2cPdWHD - Tenet Healthcare Corp said it would pay the federal government and the state $514 million to settle allegations of kickbacks by its hospitals in Georgia and South Carolina for referrals. http://on.wsj.com/2cPd0CU - Gawker Media LLC plans to set aside at least $5.5 million from the sale of its websites to fund its legal battle against wrestler Hulk Hogan. http://on.wsj.com/2cPeCgg - Facebook Inc is in talks with several countries for trial broadcasts of internet content from highflying drones, underscoring the social media company's push to provide bandwidth to poorly connected parts of the globe. http://on.wsj.com/2cPf6TA   FT The United States broke off talks with Russia on Monday on implementing a ceasefire agreement in Syria and accused Moscow of not living up to its commitments under the Sept. 9 deal to halt fighting and ensure aid reached besieged communities. British finance minister Philip Hammond vowed on Monday to protect the economy from any turbulence during negotiations to leave the EU, as sterling fell on worries the country is heading towards a disruptive divorce with its biggest trading partner. British factory activity grew at the fastest rate in more than two years last month, boosted by a surge in export orders after sterling slumped following June's referendum vote to leave the European Union, a survey showed on Monday. London-based asset manager Henderson Group agreed to buy U.S. rival Janus Capital Group Inc on Monday in a deal that is expected to fire the starting gun on a raft of defensive deals in the sector as investment houses battle with pressure on fees and rising regulatory costs   Britain The Times Deutsche Bank's chief executive was criticised by Germany's deputy chancellor yesterday for blaming speculators for the bank's plight, as hopes faded for a quick settlement of a $14 billion fine in the US for mis-selling. http://bit.ly/2dmGuP5 The pound fell back towards a three-decade low against the dollar yesterday, hit by surprisingly strong U.S. economic data and in the wake of Theresa May setting out a timetable for Brexit. http://bit.ly/2dmGqiq The Guardian The stamp collecting firm Stanley Gibbons has slumped to a 29-million-euro annual pre-tax loss and detailed a litany of financial woes after discovering "fundamental errors" in the company's accounts. http://bit.ly/2dmGfDE Britain is missing out on billions of pounds in exports every year because of a failure to help small and medium-sized companies crack new markets, according to an analysis that highlights firms' worries about exporting after Brexit. http://bit.ly/2dmG7E7 The Telegraph UK manufacturing activity grew at the fastest pace in more than two years in September, as the weak pound helped the sector to cement its strongest quarter of growth this year, according to a closely watched survey. http://bit.ly/2dmGmin AstraZeneca has won a major victory in the UK after the country's drugs watchdog approved one of the most important cancer drugs in its oncology portfolio. http://bit.ly/2dmHi6z Sky News The Government has set out details to tackle the housing shortage by building 25,000 new homes using a 3 billion euros Home Building Fund. http://bit.ly/2dmHxOU The British-based healthcare conglomerate Bupa is weighing a takeover bid for Oasis, the dentistry chain, in a move that would create a private sector powerhouse. http://bit.ly/2dmHiUe The Independent Oil prices climbed to their highest level since August supported by the global market renewed optimism that OPEC's production deal reached last week would bring an end to sub-$50 a barrel oil. http://ind.pn/2dmHOkU Henderson Group and Janus Capital Group will merge as both companies seek to revive asset growth and profit. http://ind.pn/2dmHp1J  

04 октября, 09:37

Фондовые индексы США снизились в понедельник на опасениях по поводу Deutsche Bank

Американские фондовые индексы снизились в понедельник, инвесторы следили за развитием ситуации вокруг Deutsche Bank и оценивали статданные по перерабатывающему сектору в США.

04 октября, 09:37

Европейские индексы слабо выросли в понедельник, акции Henderson в лидерах подъема

Фондовые индексы Западной Европы незначительно выросли по итогам торгов в понедельник благодаря ослаблению опасений относительно банковской отрасли, повышению цен на сырье и объявлениям о сделках.

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03 октября, 23:55

Henderson Group приобретает Janus Capital

Сумма активов под управлением объединенной компании превысит $320 млрд, а ее рыночная капитализация – $6,5 млрд. Расчеты по сделке пройдут полностью в форме акций. Ожидается, что она будет закрыта во II квартале будущего года.

03 октября, 20:20

Janus Capital и Henderson объединятся

Две компании, специализирующиеся на управлении активами — американская Janus Capital и британская Henderson,— объявили в понедельник о слиянии. Henderson заплатит за Janus Capital $2,6 млрд, вся сумма будет выплачена акциями. Таким образом, акционерам Janus Capital будет принадлежать 43% новой компании, акционерам Henderson — 57%. Новая компания будет называться Janus Henderson Global Investors, ее штаб-квартира будет находиться в Лондоне. Капитализация Janus Henderson Global Investors составит $6 млрд, она будет управлять активами на общую сумму в $320 млрд. Тем самым Janus Henderson Global Investors займет 39-е место среди компаний, управляющих активами. Таким образом, после объединения компания останется сравнительно небольшой в сравнении с такими гигантами, как BlackRock (управляет активами на $4,9 трлн) или Vanguard Group (управляет активами на $3,5 трлн). Согласно заявлению компаний, сделка увеличит их доходы на 10%. После объявления о сделке акции Henderson выросли на 17%, Janus Capital — на 11%.

05 мая, 01:03

Гросс: роботизация приведет к "социализму поневоле"

Билл Гросс, один из самых успешных управляющих за всю историю современных рынков облигаций, считает, что власти западных стран в дальнейшем будут вынуждены все активнее печатать деньги для поддержки своих экономик и населения.

03 октября 2014, 09:23

Программа "Финансовая стратегия" от 3 октября 2014 года

Вкладчики забирают свои деньги из американского фонда PIMCO . он потерял больше 20 миллиардов долларов. Так инвесторы реагируют на уход из компании одного из основателей Билла Гросса. А вот акции фонда Janus Capital, в который легендарный инвестор устроился на работу, стали пользоваться повышенным спросом. Как на этом заработать?