$APAM

Artisan Partners Asset Management Inc

  • NEW YORK STOCK EXCHANGE INC.
  • Finance
  • Investment Managers
  • Finance and Insurance
  • Securities and Commodity Exchanges

PRICE

$38.65 -

Extented Hours

VOLUME

356,122

DAY RANGE

37.82 - 38.68

52 WEEK

31.38 - 50.03

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Tuesday, October 12, 2021 U.S. equity futures are looking mixed to slightly higher despite the cautious tone heading into the start of the third quarter earnings season with a focus on surging energy prices, faster inflation and their combined effect on growth prospects in the world鈥檚 biggest economies. Stock markets slumped in the final hour of the trading day Monday, with major averages finishing at the session lows as the Dow fell 0.72%, the S&P 500 was down 0.69%, and the Nasdaq moved down 0.64%. Overnight, Asian markets fell amid news that indebted China property giant Evergrande had missed a third coupon payment in as many weeks, reigniting concerns that its collapse could trigger contagion in regional bond markets. Bond markets reopen after being closed for the Columbus Day holiday, with the 10-year yield holding around the 1.6% level. Oil prices are trading near seven-year highs amid a global power crunch. In Asian markets, The Nikkei Index dropped -267 points to 28.230, the Shanghai Index fell -45 points to 3,546, and the Hang Seng Index declined -362 points (1.43%) to 24,962. China Evergrande Group once again misses payment on the firm鈥檚 9.5% note due 2022 and its 10% bond due 2023. Also adding to concerns, Shanghai-based developer Sinic Holdings Group said that it doesn鈥檛 expect to pay the principal or interest due Oct 18 for a $250 mln bond not helping Asian sentiment. In Europe, the German DAX is lower by about -40 points to 15,155, while the FTSE 100 slips -30 points to 7,115. Market Closing Prices Yesterday 路 The S&P 500 Index dropped -30.15 points, or 0.69%, to 4,361.19 路 The Dow Jones Industrial Average fell -250.19 points, or 0.72%, to 34,496.06 路 The Nasdaq Composite slumped -93.34 points, or 0.64%, to 14,486.20 路 The Russell 2000 Index declined -12.45 points, or 0.56% to 2,220.64 Events Calendar for Today 路 6:00 AM ET NFIB Small Business Optimism 路 7:45 AM ET ICSC Weekly Retail Sales 路 8:55 AM ET Johnson/Redbook Weekly Sales 路 10:00 AM ET JOLTs Job Openings for Aug 路 4:30 PM ET API Weekly Inventory Data Earnings Calendar: 路 Earnings Before the Open: None 路 Earnings After the Close: VOXX Other Key Events: 路 American Society of Retina Specialists Annual Scientific Meeting, in San Antonio, TX 10/8-10/12 World News 路 German ZEW said economic sentiment missed: 22.3 vs 24.0 consensus; current conditions missed: 21.6 vs 28.5 consensus; the economic situation has worsened, economic o/l for next 6 months has got considerably worse 路 The NFIB Small Business Optimism Index: 99.1 vs. 99.5 consensus, 100.1 in August. 路 China鈥檚 widening power crisis, which has forced rationing across the country and threatens to derail economic growth, is prompting policy makers to rethink the pace of the nation鈥檚 energy transition 鈥 Bloomberg Sector News Breakdown Consumer 路 Tesla (TSLA) sold 56,006 China-made vehicles in September, up 26.5% M/M from August鈥檚 sales of 44,264 units, and the highest since it started production in Shanghai about two years ago, Reuters reports. 路 Automobile sales in China declined 19.6% Y/Y in September to 2.07M vehicles, falling for a fifth consecutive month; sales of passenger cars in September fell 17% Y/Y to 1.58M vehicles, the China Passenger Car Association said 路 MGM Resorts ($MGM) upgraded to Outperform from Neutral at Credit Suisse and up tgt to $68 from $33 路 Trex Company ($TREX) downgraded to Neutral from Outperform at Baird and cut tgt to $108 from $116 saying decking channel checks suggest sell-through demand will be slower in Q3 and Q4 路 Vroom ($VRM) has agreed to acquire California based United Auto Credit Corporation for $300M in cash Energy, Industrials and Materials 路 Matson ($MATX) guides Q3 diluted EPS $6.39-$6.58 above est. $4.39 saying they continued to see strong demand with higher year-over-year volumes compared to the largely pandemic-reduced volumes in the third quarter of last year; expects Q3 operating income for Ocean Transportation of $358M-$363M and Logistics operating income of $15M-$16M 路 TechnipFMC ($FTI) awarded a substantial long-term charter and services contract by Petrobras (PBR) for the pipelay support vessel Coral do Atl芒ntico; said contract is between $250M-$500M 路 AO Smith ($AOS) raises quarterly dividend to $0.28 from $0.26 路 AZZ Inc. ($AZZ) Q2 adj EPS $0.76 vs. est. $0.62; Q2 revs $216.45M vs. est. $219.95M; raises FY22 EPS view to $2.90-$3.20 from $2.65-$3.05 (est. $3.03); revises FY22 revenue view to $865M-$925M from $855M-$935M (est. $924.2M) 路 Hecla Mining ($HL) announced preliminary production results for the third quarter. Highlights include: Silver production of 2.7M ounces, decreased due to lower grades at Greens Creek based on mine sequencing, partially offset by Lucky Friday production. Gold production of 42,206 ounces, in line with the same period in the prior year Financials 路 China Evergrande Group once again misses payment on the firm鈥檚 9.5% note due 2022 and its 10% bond due 2023. Also adding to concerns, Shanghai-based developer Sinic Holdings Group said that it doesn鈥檛 expect to pay the principal or interest due Oct 18 for a $250 mln bond. 路 Square ($SQ) upgraded to Overweight from Neutral with a $300 price target at Atlantic Equities 路 Arch Capital Group Ltd. ($ACGL) said Q3 results will be negatively impacted by the effects of Hurricane Ida and the July flooding events in Central Europe, as well as from other minor global events; sees pre-tax catastrophe losses of $330M-$345M in Q3 across its property casualty insurance and reinsurance segments, net of reinsurance recoveries and reinstatement premiums; board boosts share buyback program to $1.5b total 路 Artisan Partners Asset Management Inc. ($APAM) prelim assets under management as of September 30, 2021 totaled $173.6 billion. Artisan Funds and Artisan Global Funds accounted for $85.4 billion of total firm AUM, while separate accounts and other AUM accounted for $88.2B 路 Cohen & Steers, Inc. ($CNS) preliminary assets under management of $97.3 billion as of September 30, 2021, a decrease of $3.2 billion from assets under management at August 31, 2021. The decrease was due to market depreciation of $3.9 billion and distributions of $306 million, partially offset by net inflows of $1.1 billion. 路 Franklin Resources, Inc. ($BEN) preliminary month-end assets under management of $1,530.1 billion at September 30, 2021, compared to $1,572.1 billion at August 31, 2021. This month鈥檚 decrease in AUM primarily reflected market depreciation and slight long-term net outflows, excluding a $2 billion fixed income institutional redemption that had minimal impact on revenue. 路 Invesco Ltd. ($IVZ) preliminary month-end assets under management of $1,528.6B, a decrease of 2.2% versus previous month-end. Total net inflows were $4.2B. The firm achieved net long-term inflows of $3.2 billion this month. Money market net inflows were $1.0 billion. AUM was negatively impacted by unfavorable market returns, which decreased AUM by $36 billion. 路 Virtus Investment Partners, Inc. ($VRTS) preliminary assets under management (AUM) as of September 30, 2021 of $177.3 billion. The decrease in AUM from June 30, 2021 reflected market performance and open-end fund net outflows, partially offset by positive net flows in retail separate accounts, exchange traded funds, and institutional. Healthcare 路 GlaxoSmithKline鈥檚 ($GSK) consumer healthcare unit is drawing buyout interest from private equity firms such as Advent, CVC and KKR, ahead of the drugmaker鈥檚 planned separation from the unit next year, Bloomberg News reported, citing sources Technology, Media & Telecom 路 GitLab Inc. ($GTLB) has raised the expected pricing range of its IPO to between $66-$69 a share from between $55-$60 a share last week. The all-remote software company is still offering 8.42 million shares in the IPO, with the new pricing expectation boosting what the company will raise to $580.98 million 路 Relay Therapeutics ($RLAY) announces $350M common stock offering 路 Quanterix ($QTRX) announces that its Simoa phospho-Tau 181 (pTau-181) blood test has been granted Breakthrough Device designation by the U.S. FDA as an aid in diagnostic evaluation of Alzheimer鈥檚 Disease (AD). 路 SeaSpine Holdings Corporation ($SPNE) announced the full commercial launch of its NorthStar OCT Posterior Cervical Fixation System

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Upgrades 7/12: $AMG $CAKE $CVET $EAT $FTV $GBX $HSKA $IR $IVZ $MFC $PK $RGA $RHP $TRV $TSC聽 . Downgrades 7/12: $APAM $CHTR $CLOV $ESRT $IDXX $MMM $RKT $STMP $SWAV $UAL $WSO

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After Market Close: AAT, ACCO, ACGL, AMD, AMGN, APAM, ARAY, ATEN, ATNI, ATRC, AWRE, BXP, BYD, CALX, CASH, CB, CHE, CHRW, CIEL3.BR, COF, CS.CA, CSGP, CYBE, EGP, EHC, EIX, ENPH, EQR, ESS, FCNCA, FCPT, FEYE, FFIC, FFIV, FIBK, FM.CA, FN.CA, FTI, GOOGL, HA, HAFC, HIW, HOPE, HRZN, HVT, IEX, ILMN, JNPR, LAIX, LBC, LBRT, LDL, MANH, MATX, MDLZ, MRC, MRG.UN.CA, MSFT, MXIM, NAVI, NCR, NOV, OKE, OLN, OMAB, PFG, PINS, PPD, PSB, QCRH, QTS, RNST, ROIC, RRD, RXN, SBUX, SES.CA, SPFI, SYK, TENB, TER, TFII.CA, TRMK, TRMT, TX, TXN, UDR, USNA, V, VBTX, WSBC, YUMC - Source TradeTheNews.com

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Key Metrics

Market Cap

2.53 B

Beta

1.33

Avg. Volume

611 K

Shares Outstanding

67.40 M

Yield

11.81%

Public Float

0

Next Earnings Date

2022-08-02

Next Dividend Date

Company Information

Artisan Partners is a global investment management firm that provides a broad range of high value-added investment strategies in growing asset classes to sophisticated clients around the world. Since 1994, the firm has been committed to attracting experienced, disciplined investment professionals to manage client assets. Artisan Partners' autonomous investment teams oversee a diverse range of investment strategies across multiple asset classes. Strategies are offered through various investment vehicles to accommodate a broad range of client mandates.

CEO: Eric Colson

Website:

HQ: 875 E Wisconsin Ave Ste 800 Milwaukee, 53202-5408 Wisconsin

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