In early 2021, Cathie Wood's ARK Invest managed $59B across 6 funds, becoming the world's largest active ETF manager. However, by April 2024, heavy outflows and underperforming holdings have caused assets under management to plummet to $11.1B.
MSCI Inc reported Q1 2024 revenue of $679.97M, missing consensus of $684.14M. Adjusted EPS of $3.52 beat consensus of $3.45. Stock price dipped after results. FY24 outlook reiterated, stock lost 5% in 12 months.
Xerox reported disappointing fiscal Q1 results with a 12.4% decline in sales. Adjusted EPS also missed expectations. Company expects steady revenue and free cash flow in FY24.