Daily BriefsUnited States

Daily Brief United States: Allstate Corp, Bank Of New York Mellon, Molson Coors Brewing Co B, State Street and more

In today’s briefing:

  • The Allstate Corporation: Initiation of Coverage – What Is Its Biggest Competitive Advantage? Financial Forecasts
  • Bank of New York Mellon Corp: Initiation of Coverage – Business Strategy & Other Drivers
  • Molson Coors Beverage Company: Initiation of Coverage – Diversification
  • State Street Corporation: Initiation of Coverage – Business Strategy & Other Drivers


The Allstate Corporation: Initiation of Coverage – What Is Its Biggest Competitive Advantage? Financial Forecasts

By Baptista Research

  • This is our first report on one of the largest insurance companies, the Allstate Corporation.
  • The company had a mediocre quarterly result and saw a 26% year-over-year increase in total revenues, totaling $13.8 billion.
  • This was fueled by a rise in premiums, investment income, and realized capital gains, with total premiums showing a 9% year-over-year growth to reach $12.5 billion, driven by growth across all segments, especially the auto insurance segment which grew 11% year over year.

Bank of New York Mellon Corp: Initiation of Coverage – Business Strategy & Other Drivers

By Baptista Research

  • This iThis is our first report on a global custodian and asset management behemoth, Bank of New York Mellon Corp.
  • This After a surge in deposit balances following recent market fluctuations, BNY Mellon finished the quarter slightly higher than its starting point.
  • The company’s broader liquidity platform, managing over $1.3 trillion of cash and short-term investments, witnessed growth in most channels.

Molson Coors Beverage Company: Initiation of Coverage – Diversification

By Baptista Research

  • This is our first report on global beverage giant, Molson Coors Beverage Company. has exhibited commendable resilience this quarter, particularly with their premium light brands in the U.S.
  • Their brands, Coors Light and Miller Lite, registered double-digit revenue growth, significantly aided by their first Super Bowl campaign in over three decades.
  • We initiate coverage on the stock of Molson Coors Beverage Company with a ‘Hold’ rating.

State Street Corporation: Initiation of Coverage – Business Strategy & Other Drivers

By Baptista Research

  • This is our first report on State Street, a prominent provider of asset servicing and other financial services in the U.S.
  • The company experienced a varied market performance in the second quarter due to continued strength in developed equity markets, weakness in emerging markets, and a subdued market environment.
  • State Street onboarded $1.2 trillion of Assets Under Custody/Administration (AUC/A) primarily through the State Street Alpha platform, underscoring its effectiveness.

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