分组1 - Nasdaq reported quarterly earnings of $0.85 per share, exceeding the Zacks Consensus Estimate of $0.80 per share, and up from $0.69 per share a year ago, representing an earnings surprise of +6.25% [1] - The company posted revenues of $1.31 billion for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 2.41%, compared to $1.16 billion in the same quarter last year [2] - Nasdaq has outperformed the S&P 500, with shares increasing about 14.2% since the beginning of the year, compared to the S&P 500's gain of 8.1% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $0.80 on revenues of $1.26 billion, and for the current fiscal year, it is $3.24 on revenues of $5.1 billion [7] - The Zacks Industry Rank places Securities and Exchanges in the top 9% of over 250 Zacks industries, indicating a favorable outlook for the industry [8] - Nasdaq has a Zacks Rank of 2 (Buy), suggesting that the shares are expected to outperform the market in the near future [6]

Group 1: Earnings Performance - CME Group reported quarterly earnings of $2.96 per share, exceeding the Zacks Consensus Estimate of $2.91 per share, and up from $2.56 per share a year ago [1] - The earnings surprise for this quarter was +1.72%, and the company has surpassed consensus EPS estimates in all four of the last quarters [2] - Revenues for the quarter ended June 2025 were $1.69 billion, surpassing the Zacks Consensus Estimate by 0.51%, and up from $1.53 billion year-over-year [3] Group 2: Stock Performance and Outlook - CME shares have increased approximately 18.3% since the beginning of the year, compared to a 7.3% gain in the S&P 500 [4] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters [5] - The current consensus EPS estimate for the next quarter is $2.75 on revenues of $1.63 billion, and for the current fiscal year, it is $11.12 on revenues of $6.57 billion [8] Group 3: Industry Context - The Securities and Exchanges industry, to which CME belongs, is currently ranked in the top 10% of over 250 Zacks industries, indicating strong performance potential [9] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [6] - The estimate revisions trend for CME was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, suggesting it will perform in line with the market [7]

Core Viewpoint - The market anticipates Nasdaq (NDAQ) to report a year-over-year increase in earnings and revenues for the quarter ended June 2025, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - Nasdaq is expected to post quarterly earnings of $0.80 per share, reflecting a year-over-year increase of +15.9% [3]. - Revenues are projected to be $1.27 billion, which is a 9.9% increase from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has been revised 1.58% higher in the last 30 days, indicating a positive reassessment by analysts [4]. - The Most Accurate Estimate for Nasdaq is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +0.83% [11]. Earnings Surprise Prediction - A positive Earnings ESP reading suggests a likely earnings beat, especially when combined with a Zacks Rank of 1 (Strong Buy), 2 (Buy), or 3 (Hold) [9]. - Nasdaq currently holds a Zacks Rank of 2, indicating a strong likelihood of beating the consensus EPS estimate [11]. Historical Performance - In the last reported quarter, Nasdaq exceeded the expected earnings of $0.77 per share by delivering $0.79, resulting in a surprise of +2.60% [12]. - Over the past four quarters, Nasdaq has consistently beaten consensus EPS estimates [13]. Industry Comparison - CME Group (CME), another player in the Securities and Exchanges industry, is expected to report earnings of $2.9 per share, a year-over-year increase of +13.3%, with revenues projected at $1.7 billion, up 11.2% from the previous year [17]. - CME has an Earnings ESP of +0.9% and a Zacks Rank of 3, indicating a likelihood of beating the consensus EPS estimate [18].

Core Insights - The Zacks Securities and Exchanges industry is benefiting from a diversified product portfolio, increased trading volumes, and the adoption of crypto assets, with companies like Intercontinental Exchange (ICE), CME Group (CME), Nasdaq Inc. (NDAQ), and Cboe Global Markets (CBOE) expected to gain from these trends [1][3]. Industry Overview - The Zacks Securities and Exchanges industry includes companies that operate electronic marketplaces for trading stocks, options, bonds, and commodity contracts, generating revenue from fees and providing data and listing services [2]. - The industry is experiencing a rise in crypto asset adoption, but companies must navigate various regulatory requirements [2]. Trends Shaping the Industry - Trading volume is driven by volatility, with transaction and clearing fees being significant revenue sources. A pro-crypto environment under Trump's potential second term is expected to further increase trading activity [3]. - The securities exchanges market is projected to reach $49.6 billion by 2028, growing at a CAGR of 12.1% [3]. - Mergers and acquisitions are on the rise as companies seek to enhance growth through strategic partnerships and technology acquisitions [4]. - Continuous investment in technology, particularly in AI and blockchain, is crucial for improving trading efficiency and reducing risks [5]. Industry Performance - The Zacks Securities and Exchanges industry ranks 10, placing it in the top 4% of 251 Zacks industries, indicating strong near-term prospects [6][7]. - The industry has outperformed the broader Zacks Finance sector and the S&P 500, gaining 17.3% year-to-date compared to the sector's 3.9% increase and the S&P 500's decline of 1.8% [10]. Valuation Metrics - The industry currently trades at a trailing P/E of 24.69X, higher than the S&P 500's 21.36X and the sector's 16.03X, with historical trading ranges between 19.02X and 27.94X over the past five years [13]. Company Highlights - **Intercontinental Exchange (ICE)**: A leading global operator with a strong portfolio and risk management services, expected to benefit from digitization in the mortgage industry. EPS estimates for 2025 and 2026 indicate year-over-year increases of 14.3% and 10.7%, respectively [17][18]. - **CME Group (CME)**: The largest futures exchange globally, focusing on expanding product offerings and strong liquidity, with EPS estimates for 2025 and 2026 showing increases of 8.7% and 3.3% [21][22]. - **Cboe Global Markets (CBOE)**: A major stock exchange operator with a growing product line and recurring revenues, projecting EPS increases of 9.8% and 6.2% for 2025 and 2026 [25][26]. - **Nasdaq (NDAQ)**: A key provider of trading and marketplace technology, focusing on non-trading revenue growth, with EPS estimates for 2025 and 2026 indicating increases of 13.1% and 11.7% [29][30].

Group 1 - CME Group is one of 858 individual stocks in the Finance sector and is ranked 6 in the Zacks Sector Rank [2] - CME Group currently has a Zacks Rank of 2 (Buy), indicating a favorable outlook for the stock [3] - The Zacks Consensus Estimate for CME's full-year earnings has increased by 6.9% in the past quarter, reflecting stronger analyst sentiment [4] Group 2 - CME Group has gained approximately 19% year-to-date, outperforming the average Finance sector gain of 6.3% [4] - CME Group is part of the Securities and Exchanges industry, which has seen a year-to-date gain of about 16.1%, indicating better performance compared to its industry peers [6] - Another Finance stock, ACNB, has also outperformed the sector with a year-to-date return of 10.5% and a Zacks Rank of 2 (Buy) [5][6]

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: IntercontinentalExchange (ICE) - ICE currently holds a Momentum Style Score of B and a Zacks Rank of 2 (Buy), indicating strong potential for outperformance [2][3] - The stock has shown significant price increases, with a 6.26% rise over the past week and a 14.38% increase over the past month, outperforming the Zacks Securities and Exchanges industry [5] - Over the past quarter, ICE shares increased by 6.97%, and over the last year, they gained 33.09%, while the S&P 500 saw declines of -5.82% and a modest increase of 9.94% respectively [6] Trading Volume - ICE's average 20-day trading volume is 2,627,647 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Outlook - In the last two months, 9 earnings estimates for ICE have been revised upwards, while only 1 has been revised downwards, leading to an increase in the consensus estimate from $6.73 to $6.91 [9] - For the next fiscal year, similar trends are observed with 9 upward revisions and 1 downward revision [9] Conclusion - Given the positive momentum indicators and earnings outlook, ICE is positioned as a strong buy candidate for investors seeking short-term opportunities [11]

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: CBOE Global - CBOE Global currently holds a Momentum Style Score of B, indicating potential as a solid momentum pick [3][12] - The company has a Zacks Rank of 2 (Buy), which historically outperforms the market when combined with a Style Score of A or B [4] Price Performance - CBOE shares have increased by 5.99% over the past week, outperforming the Zacks Securities and Exchanges industry, which rose by 5.31% [6] - Over the past month, CBOE's price change is 11.77%, slightly below the industry's performance of 12.5% [6] - In the last quarter, CBOE shares rose by 10.47%, and over the past year, they gained 26.69%, while the S&P 500 saw declines of -6.46% and gains of 11.69%, respectively [7] Trading Volume - CBOE's average 20-day trading volume is 1,001,255 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Outlook - In the past two months, 10 earnings estimates for CBOE have been revised upwards, with no downward revisions, increasing the consensus estimate from $8.99 to $9.51 [10] - For the next fiscal year, 9 estimates have moved higher, while 1 has been revised downwards [10]

Core Viewpoint - CBOE Global (CBOE) reported quarterly earnings of $2.50 per share, exceeding the Zacks Consensus Estimate of $2.36 per share, and showing an increase from $2.15 per share a year ago [1][2] Financial Performance - The earnings surprise for the quarter was 5.93%, with the company having surpassed consensus EPS estimates three times over the last four quarters [2] - CBOE's revenues for the quarter were $565.2 million, surpassing the Zacks Consensus Estimate by 1.54%, and up from $502.1 million year-over-year [3] Stock Performance - CBOE shares have increased approximately 13.2% since the beginning of the year, contrasting with a -4.7% decline in the S&P 500 [4] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $2.34 on revenues of $559.87 million, and for the current fiscal year, it is $9.41 on revenues of $2.24 billion [8] - The Zacks Rank for CBOE is 2 (Buy), indicating expectations for the stock to outperform the market in the near future [7] Industry Context - The Securities and Exchanges industry, to which CBOE belongs, is currently ranked in the top 6% of over 250 Zacks industries, suggesting a favorable outlook for stocks within this sector [9]

Group 1 - CME Group is a member of the Finance sector, which includes 858 individual stocks and holds a Zacks Sector Rank of 2 [2] - CME Group currently has a Zacks Rank of 2 (Buy), with a 7.5% increase in the consensus estimate for full-year earnings over the past three months, indicating improved analyst sentiment [3] - Year-to-date, CME Group has gained approximately 19.3%, significantly outperforming the Finance sector average gain of 1.2% [4] Group 2 - CME Group belongs to the Securities and Exchanges industry, which consists of 7 companies and is ranked 8 in the Zacks Industry Rank, with an average gain of 12.4% this year [5] - Banco De Chile, another outperforming stock in the Finance sector, has increased by 30.2% year-to-date and has a Zacks Rank of 1 (Strong Buy) [4][5] - The Banks - Foreign industry, which includes Banco De Chile, has 66 stocks and is ranked 11, with a year-to-date gain of 14.7% [6]

Company Performance - IntercontinentalExchange (ICE) reported quarterly earnings of $1.72 per share, exceeding the Zacks Consensus Estimate of $1.70 per share, and up from $1.48 per share a year ago [1] - The quarterly report reflects an earnings surprise of 1.18%, with the company having surpassed consensus EPS estimates three times over the last four quarters [2] - ICE's revenues for the quarter ended March 2025 were $2.47 billion, surpassing the Zacks Consensus Estimate by 0.49% and up from $2.29 billion year-over-year [3] Market Performance - ICE shares have increased approximately 12.7% since the beginning of the year, contrasting with the S&P 500's decline of -5.3% [4] - The current consensus EPS estimate for the upcoming quarter is $1.68 on revenues of $2.46 billion, and for the current fiscal year, it is $6.85 on revenues of $9.9 billion [8] Industry Outlook - The Securities and Exchanges industry, to which ICE belongs, is currently ranked in the top 4% of over 250 Zacks industries, indicating a favorable outlook [9] - CBOE Global, another company in the same industry, is expected to report quarterly earnings of $2.36 per share, reflecting a year-over-year change of +9.8% [10]