|Bid||0.00 x 3000|
|Ask||0.00 x 301800|
|Day's range||7.23 - 7.34|
|52-week range||5.23 - 7.40|
|Beta (5Y monthly)||1.01|
|PE ratio (TTM)||36.20|
|Earnings date||21 Apr 2020 - 26 Apr 2020|
|Forward dividend & yield||0.05 (0.73%)|
|Ex-dividend date||10 Feb 2020|
|1y target est||7.57|
(Bloomberg) -- Financial firms operating in Singapore and Hong Kong are delaying hiring as the coronavirus outbreak disrupts their businesses.Both domestic and foreign institutions have slowed recruitment, according to headhunters in the financial hubs. They’ve been impacted by quarantines, restrictions on travel to and from China, remote working arrangements and decisions not to conduct face-to-face interviews.It’s another aspect of the fallout from the virus, which has also caused factory closures, disrupted supply chains and initiated the world’s largest work-from-home experiment. Recruiting has become less of a priority as firms including DBS Group Holdings Ltd. have highlighted the revenue impact of worsening business conditions.“Everybody is distracted,” said Gurj Sandhu, a managing director at Morgan McKinley Group Ltd. in Singapore. Hiring is falling down the “pecking order,” he said, while adding that nobody is canceling roles yet.Bloomberg spoke with six recruitment firms, all of which confirmed the slowdown. Hiring processes and relocation plans are taking longer at most companies because of logistical difficulties.“Companies are not risking international travel, they are not risking client meetings unless it is critical,” said Bethan Howell, a Hong Kong-based consultant at Selby Jennings Ltd.Closing DealWhile some financial firms are conducting interviews by video conference or phone, closing the deal is more problematic, especially at investment banks and wealth-management units.Bankers are “big-ticket items,” said Hubert Tam, a managing partner at Sirius Partners Ltd. in Hong Kong. Private banks and investment banks are holding off on hiring until they can meet candidates in person, “even if they performed well last year,” he said.What’s more, many private bankers covering China would have to travel to the country to meet clients and “get their blessings” before they move banks, according to Amod Jain, a Morgan McKinley consultant in Singapore. “Not everything can be done by phone.”Selby Jennings’ Howell gave the example of a person scheduled to relocate to Hong Kong from Shanghai for a quant fund. The person may have to work from the client’s Shenzhen office while waiting for a visa, which is taking more time these days, she said.Some recruiters pointed to early signs companies are reconsidering their initial hiring plans for 2020 as the outbreak deals a deeper blow to their operations.A few banks and asset managers are reviewing their hiring budgets for 2020, said Tam from Sirius Partners. Working from home has led to a decline in trading, impacting profits, he said.New HeadwindsSome lenders are considering whether to hold off on adding headcount for non-essential roles such as back-office functions, according to Mark Li, head of client solutions at Randstad Singapore.The financial services industry in Asia’s biggest hubs was facing economic headwinds even before the coronavirus outbreak because of U.S.-China trade tension, which was affecting recruiting at some firms, Li said. Hong Kong also had to grapple with its months-long protests.The slowdown in hiring is also starting to weigh on recruitment firms as they factor in delays of multiple weeks for placing candidates. “Financially, we have been impacted because we can’t close enough deals that make the revenues,” Morgan McKinley’s Sandhu said.However, recruiters expressed optimism that new viral infections are slowing, with some lauding the Singapore government for its efforts to contain the outbreak.“It’s still relatively early to see any hiring freeze,” said Nilay Khandelwal, managing director at Michael Page International Pte. in Singapore. “The real extent of impact will be seen in the days to come when new headcount and hiring plans for this year might get revised.”(Adds timeline for expected delay in third-last paragraph)To contact the reporters on this story: Ishika Mookerjee in Singapore at email@example.com;Abhishek Vishnoi in Singapore at firstname.lastname@example.orgTo contact the editor responsible for this story: Lianting Tu at email@example.comFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
With its new $75 million investment from Sirius XM, SoundCloud says it's focused on being more of a "social music experience" than competing directly with the likes of Apple Music.
Last week saw the newest annual earnings release from Sirius XM Holdings Inc. (NASDAQ:SIRI), an important milestone in...
Investing.com - Sirius XM (NASDAQ:SIRI) reported on Tuesday fourth quarter earnings that matched analysts' forecasts and revenue that topped expectations.
Sirius XM's (SIRI) fourth-quarter 2019 results are expected to reflect an expanded subscriber base backed by a solid content portfolio.
Sirius XM (SIRI) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
How far off is Sirius XM Holdings Inc. (NASDAQ:SIRI) from its intrinsic value? Using the most recent financial data...
(Bloomberg) -- The U.S. Justice Department is readying a lawsuit against Live Nation Entertainment Inc. over alleged violations of conditions imposed on the company by regulators when it bought Ticketmaster nearly a decade ago, according to a person familiar with the matter.The department’s antitrust division approved the merger in 2010 after imposing a host of rules that that were intended to protect competition in live music promotion and ticketing.That agreement expires next year, and the division has been investigating complaints from industry players that it isn’t working as intended.The Justice Department and Live Nation declined to comment. Live Nation, the world’s largest promoter, fell as much as 8.2% to $34.74 after the Wall Street Journal reported on the department’s plans.Rising Ticket PricesThe government investigation comes as prices for music concerts are skyrocketing. The live-music industry surpassed $8 billion in revenue in 2017, and is on pace for another record in 2019. Live Nation touts its ability to charge higher prices.Fan Freedom, an advocacy group, applauded the pending suit, saying that Live Nation has “exercised almost complete control over the primary ticket-sales market and has developed restrictive policies and technologies that stifle competition in the secondary market.”“This level of control harms live music fans because it limits consumer choice when it comes to purchasing concert tickets,” Chris VanDeHoef, the group’s president, said in a statement. Largest Promoter Fan Freedom is backed by Ticketmaster rival StubHub Inc. and the National Consumer League, according to the group. Live Nation merger with Ticketmaster united the world’s largest concert promoter with the dominant ticket seller in North America. The Justice Department approved the deal a year later, but imposed limits on Live Nation, including a ban on retaliating against any concert site that signs a ticketing deal with a competitor to Ticketmaster. That curb expires next year. Industry executives have long complained in private about the power of Live Nation. Even with the federal consent decree, executives have argued venues would fear picking a rival to Ticketmaster because Live Nation would then direct its artists to competing venues.Liberty MediaLive Nation accounted for more than four times more ticket sales than any other promoter last year, according to Pollstar, an industry trade publication. Fans purchased 49.5 million tickets to Live Nation events, and 11.6 million tickets to events from AEG Presents.The reported Justice Department scrutiny coincides with plans by Live Nation’s largest shareholder, John Malone’s Liberty Media Corp., to increase its stake in IHeart Media Inc., the largest radio station owner. That would add to holdings that already include Sirius XM Holdings Inc. and Pandora Media, along with Live Nation and Ticketmaster.IHeart shares surged on a Journal report saying Malone was considering the move. But they pared their gains Friday after the Live Nation lawsuit came to light, a possible sign that an IHeart deal is now more of a long shot.(Updates with Fan Freedom description in eighth paragraph.)To contact the reporters on this story: David McLaughlin in Washington at firstname.lastname@example.org;Lucas Shaw in Los Angeles at email@example.comTo contact the editors responsible for this story: Nick Turner at firstname.lastname@example.org, ;Sara Forden at email@example.com, Ros KrasnyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Jim Meyer has been the CEO of Sirius XM Holdings Inc. (NASDAQ:SIRI) since 2012. First, this article will compare CEO...
We wouldn't blame Sirius XM Holdings Inc. (NASDAQ:SIRI) shareholders if they were a little worried about the fact that...
Sirius XM (SIRI) delivered earnings and revenue surprises of -16.67% and 1.51%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?