Movement Alert|CME Group Inc Rises 3.16% in Pre-Market Trading, Q2 Earnings Beat Estimates on Record Trading Volumes

Market Focus
Jul 22

On July 22, CME Group Inc rose 3.16% in pre-market trading to $242.49 per share. The rally was driven by the company's Q2 earnings release, which exceeded Wall Street expectations on both top and bottom lines.

CME Group reported adjusted earnings per share of $2.99, beating the consensus estimate of $2.91, while revenue came in at $1.706 billion versus expectations of $1.685 billion. Net income rose to $1.042 billion for the quarter. Management attributed the strong performance to heightened equity market volatility spurring increased hedging demand, with Q2 average daily volume reaching 29.8 million contracts — the second-highest level on record. June ADV surged 19% year-over-year to a monthly record of 30.6 million contracts.

The earnings beat is particularly notable given that multiple investment banks had recently cut price targets ahead of the report, including JPMorgan to $249, Barclays to $270, UBS to $260, and Goldman Sachs to $243 with a sell rating. The upside surprise triggered a pre-market recovery in the stock.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10