In today’s briefing:
- Index Rebalance & ETF Flow Recap: MSCI STD, Yuanta Div+, ZJLD, Anta
- BlackLine Inc.: Major Drivers
- Broadridge Financial Solutions Inc.: Recurring Sales
Index Rebalance & ETF Flow Recap: MSCI STD, Yuanta Div+, ZJLD, Anta
- The review period for the MSCI May QCIR started last week and there were ad hoc changes to the S&P/ASX family and the KOSDAQ 150 Index (KOSDQ150 INDEX).
- The end of the coming week will mark the end of the review period for the upcoming rebalances for a bunch of indices with implementation scheduled in May and June.
- There was inflow to the Tracker Fund of Hong Kong Ltd (2800 HK) ETF for another week.
BlackLine Inc.: Major Drivers
- BlackLine completed a year of profitable expansion with strong financial results for the fourth quarter.
- The company had total sales of $140 million in Q4 and managed an all-around beat, including a top-line growth of 21%.
- Moreover, increased utilization was caused by a stronger-than-anticipated demand for professional services due to customers’ willingness to access the solutions’ embedded value.
Broadridge Financial Solutions Inc.: Recurring Sales
- Broadridge delivered a mixed set of results in the quarter.
- Recurring sales increased by 8% on a constant currency basis, and both segments experienced significant growth but overall revenues were below analyst expectations.
- However, the top-line growth combined with strict expense control helped to boost adjusted EPS by 11% which resulted in an earnings beat.
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