Last $68.68 USD
Change Today +0.21 / 0.31%
Volume 28.8K
MORN On Other Exchanges
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As of 8:10 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

morningstar inc (MORN) Key Developments

Albridge Announces Asset Allocation Reporting Enhancements with Morningstar Data for Seamless Advisor and Investor Presentation

Albridge announced asset allocation reporting enhancements with the integration of Morningstar data, providing greater depth and breadth of analytics and reporting for advisors as well as investors. The new capability can employ Morningstar data and client-specific classifications, providing flexibility for multiple presentation views spanning securities, investors, accounts and portfolios. Albridge's enhanced integration of Morningstar data features an expanded range of more than 10 different classification types, comprising factors such as asset allocation, sector weighting and regional breakdown information, to facilitate in-depth comparisons and robust analysis. The new integration enables seamless, customizable professional reporting presentations that leverage integrated analytics, providing a new level of transparency and insight for advisors and investors.

Morningstar Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Morningstar Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenue of $189,385,000 compared with $175,428,000 for the same period last year. Operating loss was $24,780,000 compared with operating income of $43,584,000 for the same period last year. Loss before income taxes and equity in net income of unconsolidated entities was income before income taxes and equity in net income of unconsolidated entities $18,882,000 compared with $46,695,000 for the same period last year. Net loss attributable to Morningstar Inc. was $9,769,000 or $0.22 diluted per share compared with net income attributable to Morningstar Inc. $31,121,000 or $0.66 diluted per share for the same period last year. Cash provided by operating activities was $54,804,000 compared with $58,462,000 for the same period last year. Capital expenditures was $10,006,000 compared with $9,763,000 for the same period last year. For the six months, the company reported revenue of $370,550,000 compared with $344,284,000 for the same period last year. Operating income was $13,752,000 compared with $84,144,000 for the same period last year. Income before income taxes and equity in net income of unconsolidated entities was $20,515,000 compared with $88,200,000 for the same period last year. Net income attributable to Morningstar Inc. was $16,607,000 or $0.37 diluted per share compared with $60,739,000 or $1.30 diluted per share for the same period last year. Cash provided by operating activities was $66,688,000 compared with $85,135,000 for the same period last year. Capital expenditures was $30,799,000 compared with $18,881,000 for the same period last year.

Morningstar Agrees to Settle Intellectual Property Litigation with Business Logic Holding

Morningstar will pay Business Logic Holding an amount of $61.0 million after the companies reached an agreement to settle litigation related to certain intellectual property. Under terms of the agreement, Morningstar has secured a license to the intellectual property at the heart of the dispute. Morningstar will pay the settlement amount, which is approximately $38.2 million after taxes, or 85 cents per share. The company will record the expense in the second quarter of 2014. The lawsuit stems from a 2003 contract between Business Logic and Ibbotson Associates Inc., which Morningstar acquired in 2006. Business Logic gave Ibbotson the right to embed and combine its software with Ibbotson's software to develop Advice by Ibbotson, the company's advice and managed account platform for retirement plan participants. When the contract between Ibbotson and Business Logic ended in 2009, Ibbotson replaced the Business Logic software with its own. Business Logic claimed that Morningstar and Ibbotson breached the contract and used Business Logic trade secrets to develop the new software. Business Logic filed suit against Morningstar and Ibbotson in 2009, and Morningstar and Ibbotson contested the claims.

Morningstar Inc. and Ibbotson Associates Inc. Settle Software Piracy Lawsuit Filed by Business Logic Corp

Morningstar Inc. has settled a software piracy lawsuit filed against it by Business Logic Corp. The trial, which was scheduled to start on July 7, 2014 in Chicago, has been canceled. The lawsuit filed by Business Logic in 2009 alleged that Morningstar and unit Ibbotson Associates Inc. misappropriated Business Logic's trade secrets. Business Logic sought in $64.3 million compensatory damages.

Intercontinental Exchange Selects Morningstar to Provide Financial Data for the Redesigned NYSE.com

Intercontinental Exchange has selected Morningstar Inc. to provide comprehensive financial data and web solutions for the New York Stock Exchange's redesigned website, www.nyse.com. Morningstar is providing NYSE.com with a broad range of custom and ready-to-integrate online components such as comprehensive market and fundamental data, including intraday pricing, detailed corporate actions, interactive charting, and breaking news for equities, closed-end funds, exchange-traded funds, and futures.

 

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Valuation MORN Industry Range
Price/Earnings 39.5x
Price/Sales 4.2x
Price/Book 4.6x
Price/Cash Flow 23.9x
TEV/Sales 3.9x
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