BlackRock isn't looking to buy other asset managers and may use its cash instead to raise its dividend, reinvest in its business and buy back more shares, CEO Laurence Fink told CNBC Wednesday.
The markets are likely to lean whichever way the European winds blow Wednesday.
As investors flee Latin American markets on fears that commodity-hungry China will slow down, now could be the time to pick up bargains, Will Landers, who manages BlackRock’s Latin American portfolio, told CNBC.com.
Companies in the S&P 500 paid an average effective tax rate of 28.5 percent in 2010, compared to 15 percent in federal income tax for the median U.S. household with an income of $49,445.
Shaky market action weighed on the exchange-traded product industry over the past month, bringing assets below $1 trillion for the first time since January.
If I didn’t know better, I’d think Blackrock CEO Laurence Fink is doing his best to make sure his firm isn’t tarred and feathered by an ETF debacle, if one ever occurs.
People will “continue to smoke, eat, and need healthcare,” so stocks in these areas will feel less economic pressures on their sales and profits,” Stuart Reeve, director and portfolio manager at BlackRock spacer, told CNBC Friday.
In less than two years, Bank of America has sold 20 assets worth the market capitalization of Goldman Sachs. This comes as CEO Brian Moynihan has said that the company does not need to raise capital—likely meaning issue more common shares, since the spigot of asset sales is still flowing
Just about a year ago this week, rumors started to circulate in the sometimes sleepy and boring world of municipal finance. The crisis talk went into overdrive, of course, when Ms. Whitney appeared on 60 Minutes andwarned that the $3 trillion municipal bond market faced the immediate threat of hundreds of billions of dollars in defaults.
With uncertainty shaking European and U.S. stock markets, investors must take the "leap of faith" that "we’re going to muddle our way through this and find the companies that are hitting new highs," Robert Doll, BlackRock chief equity strategist, told CNBC Tuesday.
The private sector has walked away from Europe as sovereign credit erodes in the euro zone and piled into cash. Fixing the European crisis will take at least five to 10 years, said Larry Fink, Chairman and CEO of BlackRock.
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The "seeds of stability" in the U.S. are there, with "some of the data turning against expectations, which are horrible," Eric Pellicciaro, managing director and head of Global Rates Investments at BlackRock spacer Fundamentals Fixed Income Group, told CNBC Monday.
Mining stocks will continue this summer's volatility, Evy Hambro, CIO of the natural resources team at BlackRock, told CNBC Friday. But strong fundamentals and expected commodities growth are not reflected in the share prices.
BlackRock President Robert Kapito recommends a balanced portfolio that is 60 percent global, dividend-paying stocks despite a "disheartening" week for the market.
President Barack Obama is expected to meet Friday afternoon with chief executives from Johnson & Johnson, Wells Fargo, US Bancorp , Xerox Corp , BlackRock and Silver Bridge, according to a source familiar with the plans.
Whatever comes out of the debt ceiling talks in Washington, the U.S. is headed toward a period of austerity, BlackRock Chief Equity Analyst Robert Doll told CNBC.
Stocks slipped in the final minutes of trading to end lower Wednesday as investors took a breather following a sharp rally in the previous session and amid ongoing jitters over the debt ceiling talks and fears over the euro zone crisis.
Stocks lost some ground in the final minutes of trading Wednesday as investors took a breather following a sharp rally in the previous session and after existing home sales tumbled unexpectedly to a seven-month low.
Futures were higher Wednesday on hopes that U.S. lawmakers will reach a deal to raise the debt ceiling and avert a default as well as optimism over company earnings after Apple’s results beat the street.