Financial Performance - Schwab's earnings per share exceeded expectations [1] - Client assets reached a new record [1] - Trading revenue increased [1]

Company Performance - Centene's stock plunged over 40%, marking its worst single-day performance on record [1][2] - Centene withdrew its full-year forecast after the market closed [2] - Management expects a $2.75 hit to earnings per share this year [5] - The company anticipates a 35% to 40% reduction in its numbers [5] Market Dynamics & Risk Factors - Overall market growth in 22 states is lower than expected, indicating fewer people signed up for state healthcare exchange plans [3] - Individuals who enrolled in Obamacare exchange plans are less healthy than anticipated, increasing costs for Centene [3][4] - Centene expects a $1.8 billion reduction in expected risk adjustment revenue transfers from the federal government [4]

Core Viewpoint - Lazard Inc. reported first-quarter 2025 adjusted earnings per share of 56 cents, exceeding the Zacks Consensus Estimate of 27 cents, but down from 66 cents per share in the same quarter last year [1][2] Financial Performance - Net income (GAAP) for Lazard was $60.4 million, a significant increase of 68.9% from the prior-year quarter [2] - Quarterly operating revenues were $643.2 million, reflecting a decline of 13.8% year over year, yet surpassing the Zacks Consensus Estimate of $616 million [3] - Operating expenses decreased to $593.4 million, down 16.4% year over year [4] Segment Performance - Financial Advisory segment adjusted operating revenues were $369.5 million, down 17.3% from the previous year [5] - Asset Management segment adjusted operating revenues decreased to $264.5 million, a decline of 4.1% year over year [5] - Corporate segment adjusted operating revenues were $9.1 million, down 61.9% from the year-ago quarter [5] Assets Under Management (AUM) - As of March 31, 2025, total AUM was $227.4 billion, a decrease of 9.2% from the prior-year quarter [6] - The average AUM in the reported quarter was $230.8 billion, down 6.5% year over year [6] Balance Sheet Position - Cash and cash equivalents totaled $908.6 million, down 30.5% from the prior quarter [7] - Stockholders' equity was $648.6 million, a decrease of 5.3% sequentially [7] Share Repurchase Activity - In the reported quarter, Lazard repurchased 0.8 million shares at an average price of $46.73 per share, with approximately $164 million remaining for future repurchases [9] Strategic Outlook - Increased dependence on advisory revenues and continued net outflows are expected to impact top-line growth [10] - Innovative investment strategies and cost mitigation initiatives are anticipated to support profitability [10]