Markets may hate uncertainty, but in 2025, they seem to love volatility. Despite cloudy and, at times, contradictory economic indicators, the NASDAQ and S&P 500 indices reached all-time highs to close out the second quarter. Should investors expect more of the same in the year's second half? There is likely to be more clarity about monetary and tariff policy. Analysts also expect companies to report solid earnings in the next quarter, particularly in the tech sector, where the AI trade continues to gain ste ...

Tradeweb Markets (TW) Conference June 05, 2025 11:30 AM ET Speaker0 Alright, everybody. Alright. Welcome back to the twenty twenty five Piper Sandler Global Exchange and Trading Conference. My name is Patrick Moley, senior research analyst covering the exchanges, brokers, and trading companies. Last fireside of the morning, we have Tradeweb CEO, Billy Holt. Tradeweb is a leading fixed income derivatives ETF and electronic trading platform. Company IPO ed in 2019. Billy's been CEO for a little over three yea ...

公司财报预期 - MarketAxess Holdings Inc (MKTX)将于2025年5月7日盘前公布2025年第一季度财报 市场一致预期每股收益1.82美元 营收2.106亿美元 [1] - 第一季度每股收益预期较60天前下调 同比下滑5.2% 但营收预期同比增长0.2% [1] - 2025全年营收预期8.702亿美元(同比+6.5%) 每股收益7.59美元(同比+4.3%) [2] 历史表现与当前预测 - 过去四个季度均超预期 平均超出幅度达2.9% [3] - 本次预测模型显示可能不及预期 因收益ESP为-0.41%且Zacks评级为3级(持有) [4] 业务驱动因素 - 信贷产品线交易量增长推动佣金收入 总交易量预期同比+23.6% [6] - 国际业务表现强劲 欧元债券交易量预期+15.4%(模型预测+16.5%) 美国高等级债券交易量预期+1%(模型+0.8%) [7][8] - 佣金收入预期1.854亿美元(同比+0.3%) 信息服务收入预期1300万美元(同比+9.3%) [9] 成本与利润率压力 - 信贷产品平均可变交易费同比下降6.7% [10] - 总支出预期1.281亿美元(同比+9%) 主要来自员工薪酬与技术成本上升 [11] 同业公司表现 - Euronet Worldwide(EEFT)第一季度每股收益1.13美元(符合预期) 受数字支付和跨境交易推动 [13] - Virtu Financial(VIRT)第一季度每股收益1.30美元(超预期9.2%) 因做市与执行服务业务增长 [14]