The state and 3 cities say the ride-hail companies are violating a new state law. The suit could lead to tens of millions of dollars in fines.
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Improvement in AUM balance is likely to aid AllianceBernstein Holding's (AB) revenue growth in the quarters ahead.
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AllianceBernstein L.P. and AllianceBernstein Holding L.P. (NYSE: AB) today announced that First Quarter 2020 financial and operating results will be released on Tuesday, April 28, 2020. Management will conduct a teleconference call beginning at 8:00 am (EDT), following the release of its financial results. The call will be hosted by Seth P. Bernstein, President & Chief Executive Officer, and John C. Weisenseel, Chief Financial Officer.
The asset manager is well positioned to reward investors despite the industry-wide challenges Continue reading...
Scientists believe they have observed a planet being formed for the first time. In a study published in Astronomy & Astrophysics today, a team of astronomers explain how they captured images of a young star, AB Aurigae, 520 light-years from Earth. In a massiv…
AllianceBernstein L.P. ("AB") and AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) today reported financial and operating results for the quarter ended March 31, 2020.
In the latest trading session, AllianceBernstein (AB) closed at $18.81, marking a +0.48% move from the previous day.
Work(out) From Home is a weekly column where we review smart fitness machines and apps in the wake of the coronavirus outbreak. Thanks to technology, there are still plenty of ways to exercise if your gym is closed. Read more... On Beat Fitness $120 (ann…
AllianceBernstein L.P. ("AB") and AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) today announced that preliminary assets under management increased to $576 billion during April 2020 from $542 billion at the end of March. The 6.3% increase was due to market appreciation, as well as firmwide net inflows. By channel, Retail and Institutions experienced positive net flows, while Private Wealth experienced outflows. April month-end AUM also reflected $0.3 billion in outflows resulting from AXA S.A.'s redemption of certain low-fee fixed income mandates. Through April, these redemptions amounted to approximately $1.3 billion of the expected total redemptions of $14 billion.
Astronomers find the Wolfe Disk, a galaxy that shouldn't exist in the distant universe Positively ScottishView Full coverage on Google News
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AllianceBernstein L.P. ("AB") and AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) today announced that preliminary assets under management decreased to $542 billion during March 2020 from $614 billion at the end of February. The 11.7% decrease resulted predominantly from sharp market declines as well as net outflows from all three client channels - Retail, Institutions, and Private Wealth. March month-end AUM also reflected $1 billion in outflows resulting from AXA S.A.'s redemption of certain low-fee fixed income mandates; we expect these redemptions to total approximately $14 billion and to be completed in the first half of 2020, as previously reported on our fourth quarter 2019 earnings call.
Everyone knows time flies when you're having fun, but with a GoPro, you can catch every second of the action in 4K and relive it whenever you want. Now, thanks to GoPro's latest sale, you can save $100 off select HERO action cameras through May 21, including …
Students around the country have been unable to submit their AP exams due to an unexpected technical issue. The College Board’s online portal has been unable to process HEIC files, which are Apple’s default photo format.
Legg Mason's (LM) AUM of $763.1 billion for April 2020 grows 4.4% from the prior month's net inflows and positive foreign-exchange impact.
The studio that built Minecraft is now many studios around the world, working on multiple games and projects. So, on the occasion of the studio’s 11th birthday, Mojang is now officially named Mojang Studios, with a fancy new logo and everything. Read more...
(Bloomberg) -- California is projecting a $54 billion budget deficit through June 2021 as surging unemployment caused by the pandemic-related shutdowns slams the economy of the most populous U.S. state.The size of the shortfall, equivalent to roughly one third of its annual general-fund spending, marks a stunning reversal for a state that in January was expecting to build up its rainy-day fund to more than $18 billion and was considering new services, such as for children’s education and the homeless.Instead, state officials are seeing major sources of revenue plummet with the unemployment rate expected to reach 18%. Personal income-tax collections will drop by 25.5%; sales and use taxes by 27.2% and corporation taxes by 22.7% for the year beginning in July, according to the state’s finance department. The bulk of the deficit, about $41 billion, is projected that year.“This is bigger than all of us and we really need the federal government to do more and help us through this moment,” Governor Gavin Newsom said at a briefing Thursday. “This is not a red state issue, a blue state issue. It’s human beings who need government at a time of great need and stress more than they ever have in their lifetimes.”The massive shortfall shows the severe financial toll ahead for state governments that have seen tax revenue decimated as more than 33 million Americans were thrown out of work over the past two months and the retail economy was virtually shut down. That’s left governors of both parties pushing for $500 billion of aid from Washington to avoid steep budget cuts and layoffs that would exert a drag on the economic recovery.“Severe cuts are obviously likely absent additional federal aid,” said John Ceffalio, an analyst at AllianceBernstein, which has about $50 billion in municipal assets under management.“All 50 states are going to be in a similar difficult situation,” he said.California’s figures underscore how much worse the crisis may be than the one that followed the Great Recession. The state’s unemployment rate in 2010 hit a record 12%. Officials now project the jobless rate to surpass that from a record low of 3.9% in February. Total personal income is expected to drop 13% from its high, almost three times the decline seen in the previous downturn.Newsom is scheduled to present a revised budget from his initial January proposal on May 14. By law, California must balance its budget.“The May Revision forecast projects that the impact of these economic losses will be disproportionately borne by low- and middle-income Californians,” according to the finance department release.Related: From Houston to New York, America’s Muni Finances Are in TattersStates can raise taxes to increase revenue, and Newsom said Wednesday his budget will include a levy on vaping products. California can also tap the bond market and the Federal Reserve, which has rolled out a plan to lend as much as $500 billion to states and cities to help them contend with the steep drop in revenue.“There are lots of different ways that the state can pursue to get funds to close a budget gap,” said Gary Pollack, head of fixed income for private Wealth Management at Deutsche Bank.(Updates with governor comments in fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Moody's Investors Service ("Moody's") has today placed on review for downgrade the B2 long-term local-currency deposit ratings of Amen Bank ("Amen"), Arab Tunisian Bank ("ATB"), Banque de Tunisie ("BdT"), Banque Internationale Arabe de Tunisie ("BIAT") and the B3 long-term local-currency deposit ratings of Société Tunisienne de Banque ("STB"). The rating actions on the banks follow Moody's decision to place Tunisia's government long-term issuer ratings of B2 on review for downgrade on 17 April 2020.
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Telltale 'twist' points to the birth of a baby alien world The Weather Network
The third action in my R.E.M.O.T.E. strategy will help you deal with distractions and create structure.
A helpful tool gets even more helpful for home working. What you need to know Google Lens gets a few updates to improve its productivity. These updates include smart copy and paste, in-line search, and a Listen function for learning foreign languages. Th…
Shares of AllianceBernstein Holding (NYSE:AB) were unchanged in pre-market trading after the company reported Q1 results.Quarterly Results Earnings per share increased 30.61% over the past year to $0.64, which beat the estimate of $0.59.Revenue of $874,156,000 higher by 9.89% from the same period last year, which beat the estimate of $718,420,000.Guidance Earnings guidance hasn't been issued by the company for now.Revenue guidance hasn't been issued by the company for now.Conference Call Details Date: Apr 28, 2020View more earnings on ABTime: 12:02 PM ETWebcast URL: https://edge.media-server.com/mmc/p/o5zcf4mdRecent Stock Performance 52-week high: $36.06Company's 52-week low was at $13.24Price action over last quarter: down 43.13%Company Profile AllianceBernstein provides investment management services to institutional (47% of assets under management), retail (37%), and private (16%) clients through products that includes mutual funds, hedge funds, and separately managed accounts. At the end of March 2020, AB had $542 billion in managed assets, composed primarily of fixed-income (54% of AUM) and equity (35%) strategies, with other investments (made up of asset allocation services and certain other alternative investments) accounting for the remainder. The company also provides sell-side research and brokerage services through its Sanford Bernstein subsidiary.See more from Benzinga * Recap: Colliers Q1 Earnings * Amerant Bancorp: Q1 Earnings Insights * Turning Point Brands: Q1 Earnings Insights(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]
Autotech Ventures popped on the scene three years ago with a $120 million debut fund and a plan to invest in early-stage ground transportation startups. Now, with investments in 26 startups and a handful of exits, including Xnor.ai, DeepScale and Frontier Car…
Uber and Lyft drivers are staging a caravan protest to Uber’s San Francisco headquarters to demand Uber comply with gig worker protections law AB-5, pay into the state’s unemployment insurance fund and drop the ballot initiative it proposed along with Lyft an…
Ontario Premier Doug Ford signalled Friday the province would join in a nationwide smartphone app program to assist the more than 2,000 people working here to trace contacts of people infected with COVID-19, as the rate of infection continues to inch upward.
As the amount of time I work has increased, my involvement has evaporated: is Fortnite and afterschool fun any substitute?My wife received a text from a friend recently, asking her to thank me for something I had said about home schooling. My wife told me thi…
Spoken Word with Electronics is an audio series delivering to you a two side recording of unusual stories paired with vintage modular electronic sounds Hello, everyone: Welcome back to the show. A lot of lightning in the air as we proceeded with recording thi…
AllianceBernstein L.P. ("AB") and AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) today announced that preliminary assets under management decreased to $614 billion during February 2020 from $629 billion at the end of January. The 2.4% decline was due to market depreciation, partially offset by total firmwide net inflows into all three distribution channels - Retail, Institutions and Private Wealth.
Images from the ESO's Very Large Telescope show signs of planet formation around a young star.
AB earnings call for the period ending March 31, 2020.
Q1 2020 AllianceBernstein Holding LP Earnings Call
Lazard's (LAZ) preliminary AUM of $204.6 billion for February 2020 indicates an increase of 6% from the prior month.
AllianceBernstein (AB) is well positioned to outperform the market, as it exhibits above-average growth in financials.
Plummeting rides have overshadowed the ride-hailing company the past few months. But its Uber Eats food delivery business is on the up and up.
Uber says it has committed $50 million to procure and providing safety supplies to drivers. Those supplies will include things like face masks, sanitizer, gloves and disinfectant, Uber CEO Dara Khosrowshahi announced on a press call today. Uber says it has se…