Financial Results, Stock Price Movements, Sale Completions, Study Highlights, and Appointments - Analyst Notes on Realogy, Lennar, Morgan Stanley, Prudential and Blackstone
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NEW YORK, May 8, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding Realogy Holdings Corp. (NYSE: RLGY), Lennar Corp. (NYSE: LEN), Morgan Stanley (NYSE: MS), Prudential Financial, Inc. (NYSE: PRU) and The Blackstone Group (NYSE: BX). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/2172-100free.
Realogy Holdings Corp. Analyst Notes
On May 5, 2014, Realogy Holdings Corp. (Realogy) announced its financial results for Q1 2014. Net revenues were reported at $1.0 billion, up 5.2% YoY. Adjusted EBITDA for Q1 2014 was $53 million, compared to $71 million in Q1 2013. Commenting on the financial results, Richard A. Smith, Realogy's Chairman, CEO, and President said "Our Adjusted EBITDA was lower than the same period in 2013 primarily due to broad industry decline in mortgage refinance volume and the resulting impact on our mortgage origination joint venture and our title agency, TRG. This trend, which is expected to continue for much of 2014, along with a pause in the rate of growth in the housing recovery we are seeing this year, could make for challenging near-term comparisons, although current industry forecasts for 2015 are more favorable." On the same day, the shares of Realogy tanked 8.49% to end the day at $39.04. The full analyst notes on Realogy are available to download free of charge at:
http://www.analystsreview.com/2172-RLGY-08May2014.pdf
Lennar Corp. Analyst Notes
On May 5, 2014, shares of Lennar Corp. (Lennar) declined 1.68%, closing the day at $39.21. During the trading session, the Company's shares opened at $39.64 and fluctuated in the range of $39.14 - $39.73. Lennar traded 3.69 million shares during the day, higher than its 30-day average trading volume of 3.51 million shares. Over the past 12 months, the shares of the Company decreased 6.88%, as compared to the broader market index (S&P 500), which increased 16.73% during the same period. The full analyst notes on Lennar are available to download free of charge at:
http://www.analystsreview.com/2172-LEN-08May2014.pdf
Morgan Stanley Analyst Notes
On May 5, 2014, Morgan Stanley announced that Morgan Stanley Global Private Equity, a part of Morgan Stanley Investment Management, has completed the sale of its majority interest in Learning Care Group (U.S.) Inc., which focuses on care and education of children between the ages of six weeks and 12 years. Commenting on the development, Michael Ryder, Managing Director of Morgan Stanley Global Private Equity, said, "It has been a privilege to work with Barbara and the talented executive team at Learning Care Group. We wish them continued success in the future." The Company stated that Debevoise & Plimpton LLP served as legal counsel and BofA Merrill Lynch and BMO Capital Markets Corp. acted as financial advisors to Learning Care Group with respect to the transaction. The full analyst notes on Morgan Stanley are available to download free of charge at:
http://www.analystsreview.com/2172-MS-08May2014.pdf
Prudential Financial, Inc. Analyst Notes
On May 1, 2014, Prudential Financial, Inc. (Prudential) highlighted that 82% of employers reported that they are offering long-term disability insurance in 2013, as compared to 74% in 2012. As per the findings of a research brief titled "Disability Insurance: Beyond Paycheck Protection", which was commissioned by Prudential, 33% of employees are without disability insurance of any kind including short-term, long-term, individual or group coverage. According to the report, short-term disability insurance programs are on the rise with 85% of employers offering them in 2013 versus 77% in 2012. Jim Gemus, Senior Vice President, Products, Prudential Group Insurance, commented, "Employers are doing their part to make valuable disability insurance coverage available to their employees. Yet, as employees evaluate benefit options and personal budgetary challenges, in some cases, conflicting priorities lead to inaction." The full analyst notes on Prudential are available to download free of charge at:
http://www.analystsreview.com/2172-PRU-08May2014.pdf
The Blackstone Group Analyst Notes
On May 5, 2014, The Blackstone Group (Blackstone) announced the appointment of Alisha Chaudry Slye as the National Director of Blackstone LaunchPad - an innovative campus program that introduces entrepreneurship as a career option for students by offering a network of venture coaches and support resources. Blackstone LaunchPad promotes connections between university campuses, the business community, and local entrepreneurs to create environments that nurture wannabe entrepreneurs. The LaunchPad program is open to all students regardless of major, and is recognized by the White House's "Startup America" initiative in 2011 based on its early success, leading to its current expansion across six regions. Commenting on Alisha's appointment, Amy Stursberg, Executive Director of the Blackstone Charitable Foundation, said, "Her broad experience and knowledge will ensure that both our partner regions and the many thousands of students engaged with Blackstone LaunchPad will continue to benefit from the program in the years ahead." The full analyst notes on Blackstone are available to download free of charge at:
http://www.analystsreview.com/2172-BX-08May2014.pdf
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