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State Street Corporation Add to portfolio

INX:STT, Jan 29, 05:21 UTC

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Monday, January 20


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The Zacks Analyst Blog Highlights: Apple, Applied Materials, Synopsys, Copart and State Street

AAPL STT

Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. The S&P 500 Index, generally considered as the barometer of market sentiment within the financial circle, reached a milestone on Jan 16 after closing, above the technical threshold of 3,300 for the first time. The S&P 500 Index rallied 28.9% in 2019, which was a complete reversal of its pathetic performance in 2018 when it had plunged 6.2%. Several economists and financial researchers have projected that the S&P 500 index is likely to gain 15-20% in 2020 even though this is the U.S. presidential election year.

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Friday, January 17


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Comcast, State Street Rise; Gap, J.B. Hunt Fall

STT CMCSA

Business|Comcast, State Street Rise; Gap, J.B. Hunt Fall. NEW YORK — Stocks that moved heavily or traded substantially on Friday:. The world's largest oilfield services company reported surprisingly good profits and revenue for the fourth quarter. The clothing and apparel retailer cancelled plans to spin off its Old Navy brand into a separate company.

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BUZZ-U.S. STOCKS ON THE MOVE-Qualcomm, Schlumberger, State Street, Corteva, Durect Corp

STT

BUZZ-U.S. STOCKS ON THE MOVE-Qualcomm, Schlumberger, State Street, Corteva, Durect Corp. Jan 17, 2020 10:45AM EST. U.S. stock indexes edged higher to hit fresh record highs on Friday on optimism over corporate earnings, economic data and indications of resilience in a Chinese economy battered by a prolonged trade war with the United States. The top three S&P 500 .PG.INX percentage gainers: ** State Street Corp <STT.N>, up 4.8 % ** Citizens Financial Group Inc <CFG.N>, up 3.9 % ** Qualcomm Inc <QCOM.OQ>, up 3.7 % The top three S&P 500 .PL.INX percentage losers: ** CDW Corp <CDW.O>, down 4.9 % ** Netapp Inc <NTAP.O>, down 4.2 % ** Expeditors International of Washington Inc <EXPD.O>, down 3.8 % The top three NYSE .PG.N percentage gainers: ** Platinum Group Metals Ltd <PLG.N>, up 11.3 % ** Eros International Plc <EROS.N>, up 10 % ** Sibanye Gold Ltd <SBGL.N>, up 7.6 % The top three NYSE .PL.N percentage losers: ** Coeur Mining Inc <CDE.N>, down 16.5 % ** China Online Education Group <COE.N>, down 11.1 % ** Air Industries Group <AIRI.N>, down 10.3 % The top three Nasdaq .PG.O percentage gainers: ** Seneca Biopharma Inc <SNCA.O>, up 104.8 % ** iMedia Brands Inc <IMBI.O>, up 44.8 % ** Surface Oncology Inc <SURF.O>, up 30 % The top three Nasdaq .PL.O percentage losers: ** MGP Ingredients <MGPI.O>, down 24.5 % ** Cemtrex Inc <CETX.O>, down 16.8 % ** LMP Automotive Holdings Inc <LMPX.O>, down 14.4 % ** Qualcomm Inc QCOM.O: up 3.7%. BUZZ-Slips after UBS downgrades to "neutral", cuts PT ** State Street Corp STT.N: up 4.8%.

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News

State Street (STT) Q4 Earnings Top Estimates on Cost Savings

STT

State Street (STT) Q4 Earnings Top Estimates on Cost Savings. State Street achieved $415 million in savings in 2019, well above the target of $400 million. Notably, the full-day trading session will depict a better picture.Results reflect new investment servicing wins of $294 billion, rise in assets balance, modest improvement in fee income and successful implementation of the company’s expense saving initiatives. However, lower net interest income mainly due to lower rates was a headwind.After considering several non-recurring items, net income available to common shareholders was $632 million, surging 59.6% from the year-ago quarter.For 2019, adjusted earnings of $6.17 per share was down 14.2% but beat the consensus estimate of $5.88. State Street currently sports a Zacks Rank #1 (Strong Buy).

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Wednesday, January 15


News

Lower Interest Rates to Hurt State Street (STT) Q4 Earnings

STT

Lower Interest Rates to Hurt State Street (STT) Q4 Earnings. Results benefited from new investment servicing wins and growth in assets under management (AUM), partly offset by lower revenues.State Street boasts an impressive earnings surprise history. Moreover, its activities in the fourth quarter encouraged analysts to revise earnings estimates upward. Thus, State Street’s securities finance revenues are likely to have been sequentially stable in the fourth quarter.Nonetheless, supported by strong equity market performance, servicing and management fees are expected to have increased in the to-be-reported quarter.Notably, the company expects servicing fees to be stable sequentially in the fourth quarter, while management fees are projected to be up 1-2%.Total fee revenues are expected to increase 1-2% from the prior quarter, driven by seasonality related to the Charles River Development (CRD) buyout.Expenses not of much help: State Street’s expenses have remained elevated over the past few quarters mainly due to higher compensation and employee benefit costs as well as acquisition and restructuring costs.While the company’s expense-saving program is expected to result in $400 million in cost savings in 2019 through workforce reduction, overall expenses are expected to have remained elevated in the fourth quarter.

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Tuesday, January 14


News

The Zacks Analyst Blog Highlights: Bank of America, PNC Financial Services, State Street and Bank of Hawaii

STT BAC +1 more STT BAC PNC

Stocks recently featured in the blog include: Bank of America Corp. BAC, The PNC Financial Services Group, Inc. PNC, State Street Corp. STT and Bank of Hawaii Corp. BOH. Big U.S. banks are expected to see a feeble start to the earnings season this week. And it’s primarily because of the Fed trimming interest rates three times last year after nine hikes in the previous three-year period. Needless to say, a bank’s profit margin depends on its net interest income or the difference between the rates they charge as long-term loans and the rate they pay for short-term borrowings. For fourth-quarter earnings, the Major Banks industry, including JPMorgan and Wells Fargo, is expected to see an earnings decline of 9.6% from the same period last year despite 1.4% higher revenues (read more: Can Earnings Reports Push Bank Stocks Even Higher?). But not everything has been gloomy for banks in the fourth quarter. After all, declining interest rates sometimes tend to do well for banks, fueling demand for loans. And if we look into the non-interest income side, revenues should increase as banks continue to expand wealth management and consumer lending businesses.

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Thursday, December 26


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How Did State Street Corporation (STT) Compare Against Top Hedge Fund Stocks in 2019?

STT

This is especially valuable when it comes to small-cap stocks, which is where they generate their strongest outperformance, as their resources give them a huge edge when it comes to studying these stocks compared to the average investor, which is why we intently follow their activity in the small-cap space. Nevertheless, it is also possible to identify cheap large cap stocks by following the footsteps of best performing hedge funds. Our calculations also showed that STT isn't among the 30 most popular stocks among hedge funds (click for Q3 rankings and see the video at the end of this article for Q2 rankings). So, why do we pay attention to hedge fund sentiment before making any investment decisions? With all of this in mind we're going to view the key hedge fund action surrounding State Street Corporation (NYSE:STT). How are hedge funds trading State Street Corporation (NYSE:STT)?

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Friday, December 20


News

State Street Global Advisors Announces Additional 2019 Income Distribution for XLE and XLV

STT

TheSelect Sector SPDR Funds listed in the table below, each an exchange-traded fund ("ETF"), announced today that each ETF will make an additional 2019 income distribution. During the ETFs’ fiscal and tax year-end audits (September 30), certain gains incurred related to corporate actions on underlying portfolio holdings were re-characterized to ordinary income for U.S. tax purposes. Recognized as an industry pioneer, State Street created the first US listed ETF in 1993 (SPDR S&P 500® – Ticker SPY) and has remained on the forefront of responsible innovation, as evidenced by the introduction of many ground-breaking products, including first-to-market launches with gold, international real estate, international fixed income, and sector ETFs. For more information, visit www.spdrs.com. * This figure is presented as of September 30, 2019 and includes approximately $64 billion of assets with respect to SPDR products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent.

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Thursday, December 19


News

Here's Why State Street (STT) Stock is a Solid Bet Right Now

STT

Over the past 60 days, the Zacks Consensus Estimate for 2019 and 2020 displayed an upward trend.Further, this Zacks Rank #1 (Strong Buy) stock has gained 26.8%, year to date, compared with its industry’s growth of 35%. Continuous investment in new products, business wins and inorganic growth strategy will likely strengthen the company’s revenue generation in the quarters ahead.Earnings per Share Growth: State Street recorded an earnings growth rate of 8.3% over the last three to five years. Also, its long-term (three to five years) estimated EPS growth rate of 8.31% promises rewards for investors over the long run.Impressive Capital Deployment: State Street has a commendable capital-deployment plan. Click to get this free report The Bank of New York Mellon Corporation (BK) : Free Stock Analysis Report Bank of America Corporation (BAC) : Free Stock Analysis Report State Street Corporation (STT) : Free Stock Analysis Report BlackRock, Inc. (BLK) : Free Stock Analysis Report To read this article on Zacks.com click here.

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Wednesday, December 18


News

The Zacks Analyst Blog Highlights: The Bancorp, Eagle Bancorp Montana, Customers Bancorp, State Street and Luther Burbank

STT BREXIT

Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. On Dec 16, yields on several U.S. sovereign bonds spiked following positive news that both the United States and China have agreed on a partial trade deal likely to be signed in the first half of January 2020. Consequently, investors dumped safe-haven government bonds and opted for risky assets like equities, which resulted in a Wall Street rally. As a result of these developments, stock prices of several banks surged. Click to get this free report State Street Corporation (STT) : Free Stock Analysis Report Eagle Bancorp Montana, Inc. (EBMT) : Free Stock Analysis Report The Bancorp, Inc. (TBBK) : Free Stock Analysis Report Customers Bancorp, Inc (CUBI) : Free Stock Analysis Report Luther Burbank Corporation (LBC) : Free Stock Analysis Report To read this article on Zacks.com click here.

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