What's Interesting In Business News: Fidelity, Value Stocks, Morgan Stanley, $UBER, HFT, Private Equity, Zillow $Z, Apple, Presenteeism
May 18, 2019 | Volume 9
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Some Smiling Faces in Online Customer Testimonials Are Stock Photos
Fidelity funds and ETFs will be able to drop their fees further.
Fidelity is taking their securities lending business in house and dropping Goldman as their agent. This will generate revenues for their funds and will offset fund expenses directly.
Fidelity Drops Goldman by Bringing Securities Lending In-House
Value stocks need a catalyst for them to work. Or at least the market has to believe there will be a catalyst.
Morgan Stanley was expecting a weak $UBER IPO open. Interesting that they had to employ a naked short in addition to the greenshoe. Still wasn’t enough for the stock. But perhaps Morgan made a nice profit.
Uber underwriters worried about the IPO deployed unusual ‘naked short’ tactic to support the stock
A former high frequency trading shop - turned broker dealer is now servicing asset managers with a new trading approach. Seems to be working well up - to 10% of a stocks’s ADV.
Private equity firms are starting to market their funds into the wealth management space.
RIAs will have a whole new set of options to offer their clients soon. If they can understand them.
Hiring Activity Suggests Alts Firms Are Eying Wealth Management
The CEO of Zillow believes that the home buying/selling business can generate $20 billion in revenues in the next 5 years.
That's is a 70% CAGR from their $1.3 billion in 2018.
The Street does not believe it yet based on their forecasts.
Either $Z is a screaming buy if the company can execute or the CEO may have a new project to work on soon.
Zillow Sees a Future in House Flipping
If $AAPL loses this battle then taking a smaller cut of app sales will impact revenues.
But a more open iOS App Store could also cement Apple’s position as a platform. And most of their profits are from selling hardware for the platform. Perhaps a long term win comes out of the short term loss. Interesting case to watch develop.
Apple Must Face iPhone App Antitrust Suit, Supreme Court Rules
Presenteeism aka facetime is a relatively new challenge to human society.