Intercontinental Exchange (ICE - Free Report) reported soft average daily volume (ADV) for April 2021. In the month, ADV of 5.1 million contracts per day was down 18% year over year due to lower volumes in Commodities as well as Energy. There were 21 trading days in April. Shares of Intercontinental Exchange gained 1.4% in the last two trading days.
Agriculture and Metals ADV of 0.5 million contracts increased 5.7% year over year. Energy volume declined 28.5% to 2.6 million contracts per day. Commodities ADV decreased nearly 24.9% to 3.1 million in the month.
Interest rate volume decreased 1.9% to 1.7 million contracts per day. Equity Index volume decreased 20.6% to 0.2 million contracts. Foreign exchange volume was up 32% to nearly 0.03 million contracts.
Intercontinental Exchange also updated its expense guidance for the second quarter of 2021. The company now expects second quarter non-operating expenses to be in the range of $97 million to $102 million. Adjusted non-operating expenses are expected to be in the range of $105 million to $110 million. Operating expenses are estimated in the range of $895 million to $905 million while adjusted operating expenses are projected in the range of $742 million to $752 million. Revenues for second-quarter 2021 are projected in the range of $844-$859 million.
Shares of this Zacks Rank #3 (Hold) company have outperformed the industry in the past year. The stock has rallied 22% compared with the industry’s increase of 15.5%. The company’s product portfolio, along with a broad range of risk management services, strategic buyouts and a robust capital position will likely help the stock retain its growth momentum.
Recently, MarketAxess Holdings (MKTX - Free Report) reported March volumes of $511.4 billion consisting of $225.0 billion in credit volume and $286.4 billion in rates volume. CME Group (CME - Free Report) reported ADV of 16.4 million contracts for April. ADV dropped 7%, attributable to lower volumes across three product lines. Cboe Global Markets (CBOE - Free Report) reported April ADV of 10.4 million, up 7.6% year over year.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Intercontinental Exchange (ICE - Free Report) reported soft average daily volume (ADV) for April 2021. In the month, ADV of 5.1 million contracts per day was down 18% year over year due to lower volumes in Commodities as well as Energy. There were 21 trading days in April. Shares of Intercontinental Exchange gained 1.4% in the last two trading days.
Agriculture and Metals ADV of 0.5 million contracts increased 5.7% year over year. Energy volume declined 28.5% to 2.6 million contracts per day. Commodities ADV decreased nearly 24.9% to 3.1 million in the month.
Interest rate volume decreased 1.9% to 1.7 million contracts per day. Equity Index volume decreased 20.6% to 0.2 million contracts. Foreign exchange volume was up 32% to nearly 0.03 million contracts.
Intercontinental Exchange also updated its expense guidance for the second quarter of 2021. The company now expects second quarter non-operating expenses to be in the range of $97 million to $102 million. Adjusted non-operating expenses are expected to be in the range of $105 million to $110 million. Operating expenses are estimated in the range of $895 million to $905 million while adjusted operating expenses are projected in the range of $742 million to $752 million. Revenues for second-quarter 2021 are projected in the range of $844-$859 million.
Shares of this Zacks Rank #3 (Hold) company have outperformed the industry in the past year. The stock has rallied 22% compared with the industry’s increase of 15.5%. The company’s product portfolio, along with a broad range of risk management services, strategic buyouts and a robust capital position will likely help the stock retain its growth momentum.
Recently, MarketAxess Holdings (MKTX - Free Report) reported March volumes of $511.4 billion consisting of $225.0 billion in credit volume and $286.4 billion in rates volume. CME Group (CME - Free Report) reported ADV of 16.4 million contracts for April. ADV dropped 7%, attributable to lower volumes across three product lines. Cboe Global Markets (CBOE - Free Report) reported April ADV of 10.4 million, up 7.6% year over year.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2021 today >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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