$16.7 million net income, or $14.3 million as adjusted $0.10 diluted EPS for the quarter, or $0.09 as adjusted Declares $0.03 quarterly dividend /EIN News/ -- NEW YORK, July 27, 2018 (GLOBE NEWSWIRE) -- WisdomTree Investments, Inc. (NASDAQ:WETF), an exchange-traded fund (“ETF”) and exchange-traded product (“ETP”) sponsor and asset manager today reported net income of $16.7 million or $0.10 diluted EPS in the second quarter. Adjusted net income (a non-GAAP measure1) was $14.3 million1 or $0.09 diluted EPS1. This compares to net income of $12.1 million or $0.09 diluted EPS (as adjusted, $7.8 million1 or $0.06 diluted EPS1) in the second quarter of last year and net income of $9.4 million or $0.07 diluted EPS (as adjusted, $11.3 million1 or $0.08 diluted EPS1) in the first quarter of 2018. WisdomTree CEO and President Jonathan Steinberg said, “Technology and data investments made over the past several years are driving … [Read more...] about WisdomTree Announces Second Quarter 2018 Results
When stocks sell off, gold often shines. The stock market fell sharply in the stock market today after President Trump canceled the upcoming summit with North Korean leader Kim Jong Un. X The U.S. and North Korea had made some progress toward agreeing to dismantle the latter's nuclear program. But the two sides appear to be back to exchanging barbs again. "Trump's scuttling of the summit with North Korea is not surprising, but it still produces an uptick in geopolitical uncertainty, which is bullish for safe-haven gold and silver," Kitco's senior technical analyst Jim Wyckoff said, according to an article on Kitco's website. Gold futures rose more than 1% to $1,304.50 an ounce. The precious metal, which is seen as a safe haven by investors, had been trading at its lowest levels since December. IBD Newsletters Get exclusive IBD analysis and action news daily. SIGN UP NOW! IBD Newsletters Get exclusive IBD analysis and action news daily. Tech Report Market Prep … [Read more...] about 7 Ways To Profit From Trump’s Cancellation Of North Korean Summit
Big-cap biotechs like Amgen (AMGN) and Biogen (BIIB) have fallen under pressure this year for a variety of reasons including revenue concerns, patent issues and weak guidance. X But some of their smaller counterparts have rallied, fueled by strong drug sales and/or new drug news, as well as mergers and acquisitions. Take Supernus Pharmaceuticals (SUPN), which soared 14% Friday to pad its gains past a 49.85 buy point of a cup-with-handle base, which it cleared Thursday. On Wednesday, it leapt 7% after the biotech reported Q1 results that topped views, thanks to strong sales of its Trokendi XR migraine treatment and seizure drug Oxtellar XR. It followed up with a 4% gain Thursday. Supernus is an IBD 50 and Sector Leader stock. Biotech has fallen to No. 35 among the 197 industry groups tracked by IBD, down from No. 9 six weeks ago. But it's now trying to push past resistance at its 50-day moving average, so it may be a good time to keep an eye on biotech exchange traded funds. IBD … [Read more...] about 6 Ways To Play Biotechs As Small Stocks Score Big Gains
It was only a matter of time. X With ETFs that track broad equity indexes trading more than most individual stocks, and investors pouring money into fixed-income funds, it probably should come as no surprise that someone decided to marry the two. We give you: the S&P 500 Index bond fund. The ProShares S&P Bond ETF (SPXB) started trading on Thursday. The latest fund from $29 billion ProShares — the 10th-largest issuer of ETFs and specialist in leveraged and inverse funds — aims to give investors exposure to the most liquid and high-quality bonds issued by companies in the S&P 500, according to the fund's prospectus. While broad market trends continue to push money into fixed-income ETFs, some investors are still hesitant to trust debt instruments that trade like stocks, according to Michael Sapir, chief executive officer of ProShare Advisors, the parent of ProShares funds. The familiarity of the S&P 500 name, though, could now help lure people off … [Read more...] about Want To Invest In Bonds Issued By S&P 500’s Apple, Others?
Jim Ross, known as one of the fathers of exchange traded funds, says leveraged ETFs aren't a viable long-term investment vehicle, and his company, State Street Global Advisors, will never sell them. X Ross, who was part of the team that designed the first U.S. ETF, the SPDR S&P 500 (SPY), at State Street in 1993, says securities that offer souped-up returns are just too dangerous for the average person. Leveraged ETFs need "extreme education for the end investor to be using them," Ross, executive vice president of the money manager and chairman of its global ETF business, said in an interview during a visit to Tokyo. At State Street, "we do not see a place" for them. The funds are designed to pay some multiple of the index they track, usually twice or three times the daily return — or its inverse. While that enables investors to make bigger profits, it also increases their risk of losses, prompting criticism that investing in them is akin to gambling. IBD Newsletters … [Read more...] about ETF Pioneer Warns About The Dangers Of Leveraged Funds