Piper Jaffray Raises Price target on BlackRock (BLK) Following 3Q Review

Market Wrap: Wal-mart Outlook Pressures Stocks; Square Files for IPO; Netflix Slumps on Light Sub Additions

October 14, 2015 5:28 PM EDT

Market wrap for October 14th

End of the Day: S&P 500 down 9.5 to 1,994.24; Dow Jones down 157.1 to 16,924.75; Nasdaq down 13.8 to 4,782.85

Market Brief: Wal-mart dragged stocks down following its gloomy outlook issued for FY17. The company had the largest one-day percentage loss since early 1988.

Netflix missed Q3 EPS expectations and reported sluggish U.S. subscriber growth.

Twitter tapped a former Google executive as its Executive Chairman.

Payments processor Square disclosed plans to go public.

Crude oil fell 0.8 percent to $46.29 per barrel... More

BlackRock profit falls in third quarter but tops expectations

October 14, 2015 6:44 AM EDT

By Trevor Hunnicutt

NEW YORK (Reuters) - Investors piled into BlackRock Inc (NYSE: BLK) bond ETFs and paid more in hedge fund fees in the third quarter, helping the world's largest asset manager beat Wall Street's earnings forecasts and offsetting a higher tax hit that cut profits 8 percent from a year earlier.

Rough-and-tumble markets saw BlackRock trim core investment advice and administration fees by $12 million from 2014 and give up 5 percent of assets under management from the second quarter.

But both institutional and retail investors sent a net $23.3 billion in new money... More

BlackRock (BLK) Tops Q3 EPS by 42c

October 14, 2015 6:30 AM EDT

BlackRock (NYSE: BLK) reported Q3 EPS of $5.00, $0.42 better than the analyst estimate of $4.58. Revenue for the quarter came in at $2.91 billion versus the consensus estimate of $2.82 billion.

BlackRocks third quarter 2015 results, including year-over-year growth in revenue and operating income, demonstrate the resilience of our global, diversified investment platform, commented Laurence D. Fink, Chairman and CEO of BlackRock. Clients seeking long-term investment solutions, strong risk management and durable alpha generation turned to BlackRock amidst challenging market conditions, driving total net inflows of $50 billion. Long-term net inflows of $35 billion reflected positive flows across... More

Trading Radar for 10/14: BofA (BAC), Netflix (NFLX), Delta (DAL), Wells Fargo (WFC), BlackRock (BLK) Report

October 13, 2015 2:54 PM EDT

The Trading Radar highlights key earnings and economic announcements for the next trading session:

Before Markets Open:
Economics:
8:30am EDT

PPI - Street sees (0.3%)Core PPI - Street sees 0.1%Retail Sales - Street sees 0.2%

Earnings:

Bank... More