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Quarterly Earnings Releases and Capacity Additions - Analyst Notes on Capital One, BlackRock, Simon, BNY Mellon and PNC

Editor Note: For more information about this release, please scroll to bottom.


News provided by

Analysts Review

Apr 24, 2014, 08:00 ET

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NEW YORK, April 24, 2014 /PRNewswire/ --

Today, Analysts Review released its analysts' notes regarding Capital One Financial Corp. (NYSE: COF), BlackRock Inc. (NYSE: BLK), Simon Property Group Inc. (NYSE: SPG), The Bank of New York Mellon Corporation (NYSE: BK) and PNC Financial Services Group Inc. (NYSE: PNC). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/1547-100free.

--
Capital One Financial Corp. Analyst Notes
On April 16, 2014, Capital One Financial Corp. (Capital One) released its Q1 2014 financial results, which surpassed market expectations on the back of lower provisions. Capital One reported Q1 2014 total net revenue of $5.4 billion, down 3.3% YoY. Net income available to common stockholders rose to $1.1 billion, or $1.96 per share from $1.0 billion, or $1.77 per share in Q1 2013. Analysts on average expected earnings of $1.69 per share on revenue of $5.44 billion, according to Thomson Reuters. During the quarter, the Company non-interest expense declined 2.0% to $2.9 billion, while the provision for credit losses declined 16.9% YoY to $735 billion. The Company reported Common equity Tier 1 capital ratio of 13.0%, while the cash and cash equivalents declined 8.4% YoY to $6.2 billion. The full analyst notes on Capital One are available to download free of charge at:

http://www.analystsreview.com/1547-COF-24Apr2014.pdf

--
BlackRock Inc. Analyst Notes
On April 17, 2014, BlackRock Inc. (BlackRock), the world's largest asset manager, released its Q1 2014 earnings. The Company reported Q1 2014 total revenue of $2.7 billion, up 9.0% YoY. During the quarter, the Company reported Retail long-term net inflows of $14.0 billion driven by fixed income net inflows of $6.1 billion, which reflected strong interest in unconstrained fixed income offerings, including $2.7 billion of net inflows into strategic Income Opportunities fund, and a 46.3% YoY rise in performance fee. Net income attributable to BlackRock came in at $756 million or $4.40 per diluted share. Excluding certain long-term compensation expenses and other one-time items, earnings were $4.43 a share, beating analysts' average forecast of $4.11 a share. The full analyst notes on BlackRock are available to download free of charge at:

http://www.analystsreview.com/1547-BLK-24Apr2014.pdf

--
Simon Property Group Inc. Analyst Notes
On April 16, 2014, Simon Property Group Inc. (Simon) announced the multi-phase expansion and renovation at The Fashion Centre at Pentagon City. The Fashion Centre at Pentagon City comprises of more than 170 stores and is administered by Nordstrom and Macy's. According to Simon, the construction is expected to begin soon on 50,000 square foot expansion to the property along Hayes Street. The expansion includes a new feature mall entrance, new office lobby and two levels of new retail shops and restaurants with outdoor seating. In addition, the Company plans to add a new valet parking along with enhancements to the landscaping and vehicular ingress and egress. Laurie VanDalen, General Manager of The Fashion Centre at Pentagon City, said, "This project will completely transform the look and feel of our center." The full analyst notes on Simon are available to download free of charge at:

http://www.analystsreview.com/1547-SPG-24Apr2014.pdf

--
The Bank of New York Mellon Corporation Analyst Notes
The Bank of New York Mellon Corporation (BNY Mellon) swung to profit in Q1 2014. On April 22, 2014, before market hours, the Company reported its Q1 2014 financial results. Total fee and other revenue was $2.9 billion, up 0.8% YoY. Net income attributable to common stockholders came in at $661 million or $0.57 per diluted share, compared to a net loss of $266 million or diluted loss per share of $0.23 in Q1 2013. During the quarter, the Company's estimated common equity Tier 1 (CET 1) ratio under the standardized approach was 11.0%, better than the Q1 2013 estimated CET 1 ratio of 9.4%. As previously disclosed, BNY Mellon will pay a quarterly common stock dividend of $0.17 per common share on May 7, 2014 to shareholders of record as of the close of business on April 25, 2014. The full analyst notes on BNY Mellon are available to download free of charge at:

http://www.analystsreview.com/1547-BK-24Apr2014.pdf

--
PNC Financial Services Group Inc. Analyst Notes
On April 16, 2014, PNC Financial Services Group Inc. (PNC) released its Q1 2014 financial results. The Company reported Q1 2014 total revenue of $3.8 billion, down 4.5% YoY. Net income attributable to common stockholders rose to $992 million from Q1 2013 figure of $928 million. EPS improved to $1.82 from $1.74. On average, 28 analysts polled by Thomson Reuters expected the Company to report earnings of $1.66 per share. According to the Company, the Q1 2014 results were driven by loan and deposit growth, well-controlled expenses and credit quality improvement as well as seasonal trends. Pro forma fully phased-in Basel III common equity Tier 1 capital ratio increased to an estimated 9.7% at March 31, 2014 from 9.4% at December 31, 2013 based on the standardized approach rules. The full analyst notes on PNC are available to download free of charge at:

http://www.analystsreview.com/1547-PNC-24Apr2014.pdf

--
About Analysts Review
We do things differently. Our goal is to provide the best content to our exclusive membership. We are constantly hiring researchers, writers, editors and analysts to add to our team and become better than yesterday. If being a part of a fast growing community with an edge in today's market sounds interesting to you, then sign-up today and experience the full benefits of membership.


===============
EDITOR'S NOTES:
===============

1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.

2. Information in this release is fact checked and produced on a best efforts basis and reviewed by Nidhi Vatsal, a CFA charterholder. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.

3. This information is submitted as a net-positive to companies mentioned, to increase awareness for mentioned companies to our subscriber base and the investing public.

4. If you wish to have your company covered in more detail by our team, or wish to learn more about our services, please contact us at pubco [at] http://www.analystsreview.com.

5. For any urgent concerns or inquiries, please contact us at compliance [at] http://www.analystsreview.com.

6. Are you a public company? Would you like to see similar coverage on your company? Send us a full investors' package to research [at] http://www.analystsreview.com for consideration.

COMPLIANCE PROCEDURE
Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Analysts Review. An outsourced research services provider represented by Nidhi Vatsal, CFA, has only reviewed the information provided by Analysts Review in this article or report according to the procedures outlined by Analysts Review. Analysts Review is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.

NOT FINANCIAL ADVICE
Analysts Review makes no warranty, expressed or implied, as to the accuracy or completeness or fitness for a purpose (investment or otherwise), of the information provided in this document. This information is not to be construed as personal financial advice. Readers are encouraged to consult their personal financial advisor before making any decisions to buy, sell or hold any securities mentioned herein.

NO WARRANTY OR LIABILITY ASSUMED
Analysts Review is not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by Analysts Review whatsoever for any direct, indirect or consequential loss arising from the use of this document. Analysts Review expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Analysts Review does not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.


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