Intercontinental Exchange, Inc. (ICE - Free Report) has grossed record average daily volume (ADV) for Agriculture and Metals, which increased 13% year over year. Volumes in the second quarter were driven by better numbers in all the months of the quarter.
The exchange operator witnessed record Oil ADV, increasing 2% year over year. While Euribor ADV improved 21% year over year, Gilt ADV was 29% higher. Oil ADV grew 2% year over year.
However, total Futures and Options volume in March declined 11% to 6.3 million contracts. A 4.5% lower Commodities ADV and 16.9% lower Financials ADV were responsible for this downside. Revenues per contract were 13 cents for June, down 23.5% year over year.
Recently, securities exchanges, namely CBOE Holdings Inc. (CBOE - Free Report) , CME Group Inc. (CME - Free Report) and MarketAxess Holdings Ltd. (MKTX - Free Report) also posted respective monthly volumes. CBOE Global Markets’ June ADV of 7.3 million contracts increased 1.6% year over year while CME Group’s ADV of 18.4 million contracts per day rose 12% year over year. MarketAxess has reported a trading volume of $147.8 billion for June 2018.
Intercontinental Exchange is scheduled to report second-quarter 2018 results before the market opens on Aug 2. The Zacks Consensus Estimate for quarterly earnings is pegged at 88 cents on revenues of $1.2 billion, reflecting 17.3% and 4.2% year-over-year growth, respectively.
Our proven model conclusively shows that the company is likely to deliver a positive surprise. This is because the stock carries a favorable Zacks Rank #2 (Buy) and an Earnings ESP of +1.52%.
Shares of Intercontinental Exchange have underperformed the industry in a year. The stock has gained 4.3%, lagging the industry’s increase of 5.7%. Nonetheless, we believe that the company’s compelling product portfolio, risk management services, prudent acquisitions, timely achievement of cost synergies, strategic initiatives and a solid capital position should drive the shares higher and strengthen its growth profile as well.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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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.
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Intercontinental Exchange, Inc. (ICE - Free Report) has grossed record average daily volume (ADV) for Agriculture and Metals, which increased 13% year over year. Volumes in the second quarter were driven by better numbers in all the months of the quarter.
The exchange operator witnessed record Oil ADV, increasing 2% year over year. While Euribor ADV improved 21% year over year, Gilt ADV was 29% higher. Oil ADV grew 2% year over year.
However, total Futures and Options volume in March declined 11% to 6.3 million contracts. A 4.5% lower Commodities ADV and 16.9% lower Financials ADV were responsible for this downside. Revenues per contract were 13 cents for June, down 23.5% year over year.
Recently, securities exchanges, namely CBOE Holdings Inc. (CBOE - Free Report) , CME Group Inc. (CME - Free Report) and MarketAxess Holdings Ltd. (MKTX - Free Report) also posted respective monthly volumes. CBOE Global Markets’ June ADV of 7.3 million contracts increased 1.6% year over year while CME Group’s ADV of 18.4 million contracts per day rose 12% year over year. MarketAxess has reported a trading volume of $147.8 billion for June 2018.
Intercontinental Exchange is scheduled to report second-quarter 2018 results before the market opens on Aug 2. The Zacks Consensus Estimate for quarterly earnings is pegged at 88 cents on revenues of $1.2 billion, reflecting 17.3% and 4.2% year-over-year growth, respectively.
Our proven model conclusively shows that the company is likely to deliver a positive surprise. This is because the stock carries a favorable Zacks Rank #2 (Buy) and an Earnings ESP of +1.52%.
Shares of Intercontinental Exchange have underperformed the industry in a year. The stock has gained 4.3%, lagging the industry’s increase of 5.7%. Nonetheless, we believe that the company’s compelling product portfolio, risk management services, prudent acquisitions, timely achievement of cost synergies, strategic initiatives and a solid capital position should drive the shares higher and strengthen its growth profile as well.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
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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