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Intercontinental Exchange’s most the latest aggressive move raises brows



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Even even though Ellie’s Mae yearly revenues surged from an believed $480 million two decades in the past to $900 million now, some be concerned that the business has been riding a wave of house purchases and refinancing that could not final.

The possibility that ICE was overpaying for Ellie Mae despatched ICE stock dipping in soon after-several hours investing and in the opening trades on Friday.

But a nearer search showed the good reasons that the deal will boost earnings, Voigt said. “We obviously like the offer.”

Ellie Mae is owned by a private equity company, which typically squeezes charges out of a company ahead of providing it, he said. “But the opposite occurred below. They invested in Ellie Mae.”

In the course of a meeting get in touch with with analysts late Thursday, ICE Chief Executive Jeffrey Sprecher named Ellie Mae “a one particular of a variety digital platform” that is applied in nearly 50 percent the residential home loans in the nation.

Shares of ICE rebounded modestly Friday to finish the trading working day at $100.96 for each share, close to its 12 months-superior of $101.93. All through the pandemic-induced stock drops before this 12 months, ICE fell as minimal as $63.51.

Rosenblatt Securities analyst Kenneth Hill taken care of a get ranking on shares of ICE, location a cost concentrate on of $104 a share. Many others ended up even more optimistic. Oppenheimer, for illustration, rated ICE a invest in with a $109-a-share target.

At the very least for now, Ellie Mae’s 1,700 workers are not signing up for the 1,000 workers that ICE has in Atlanta, explained ICE spokesman Josh King.

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In normal, the business may possibly keep a lower-profile, but its heft and aggressiveness have experienced an effects on the area, King stated. “We have a large workforce in Atlanta and that has assisted to unfold the monetary tech knowledge and popularity of Atlanta to all the international capitals.”

And when it comes to building higher-stakes fiscal bets, ICE — which has about 6,000 personnel globally — has by no means been shy. The business has obtained a selection of economical exchanges, most famously the New York Inventory Trade in an $8.2 billion deal in 2012. 3 decades afterwards, ICE acquired Interactive Knowledge Corp., a technology system, for about $5.2 billion.

ICE bought a bulk stake in House loan Digital Registration Methods, in 2016, then the remainder in 2018. It acquired Simplifile, a doc recording service, past yr.

“They are just so diversified,” explained analyst Voigt, of Keefe, Bruyette & Woods. “There’s not one particular single point that can knock them off axis. There’s no one factor that can make or crack this corporation.”

ICE has been in the information a lot more than standard currently simply because of the December announcement that Gov. Brian Kemp was appointing Kelly Loeffler to fill retired U.S. Sen. Johnny Isakson’s seat till a exclusive election could be held. Loeffler — who is married to Jeffrey Sprecher, ICE’s chief executive — labored for ICE for about 18 a long time and was head of trader relations, promoting and communications.

She left the enterprise, but her future senate race has intended repeated references to her company affiliation.

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Portuguese historical films will premiere on 29 December.



Portuguese historical films will premiere on 29 December.

Method Media Bermuda will present the documentary FABRIC: Portuguese History in Bermuda on Thursday, December 29 at the Underwater Research Institute of Bermuda.

A spokesperson said: “Method Media is proud to bring Bermuda Fabric: Portugal History to Bermuda for its 5th and 6th showing at the Bermuda Underwater Observatory. In November and December 2019, Cloth: A Portuguese Story in Bermuda had four sold-out screenings. Now that Bermuda has reopened after the pandemic, it’s time to bring the film back for at least two screenings.

“There are tickets For $ 20 – sessions at 15:30 and 18:00. Both screenings will be followed by a short Q&A session.

Director and producer Milton Raboso says, “FABRIC is a definitive account of the Portuguese community in Bermuda and its 151 years of history, but it also places Bermuda, Acors and Portugal in the world history and the events that have fueled those 151 years.

“It took more than 10 years to implement FABRIC. The film was supported by the Minister of Culture, the Government of the Azores and private donors.

Bermuda Media Method [MMB] Created in 2011 by producer Milton Raposo. MMB has created content for a wide range of clients: Bermuda’s new hospital renovation, reinsurance, travel campaigns, international sports and more. MMB pays special attention to artistic, cultural and historical content.

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Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.



Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Maestro Filipe Cunha, Artistic Director of the Philharmonic Orchestra of Braga, has been invited to conduct the Cuban National Symphony Orchestra, as announced today.

According to a statement sent by O MINHO, “he will be the first Portuguese conductor to conduct this orchestra in its entire history.”

In addition to this orchestra, the maestro will also work with the Lyceo Mozarteum de la Habana Symphony Orchestra.

The concerts will take place on 4 and 12 March 2023 at the National Theater of Cuba in Havana.

In the words of the maestro, quoted in the statement, “these will be very beautiful concerts with difficult but very complex pieces” and therefore he feels “very motivated”.

From the very beginning, Rachmaninoff’s Piano Concerto No. 2 will be performed by an Italian pianist (Luigi Borzillo), whom the maestro wants to bring to Portugal later this year. In the same concert, Mendelshon’s First Symphony will be performed.

Then, at the second concert, in the company of the Mexican clarinetist Angel Zedillo, he will perform the Louis Sfora Concerto No. 2. In this concert, the maestro also conducts Tchaikovsky’s Fifth Symphony.

“This is an international recognition of my work. An invitation that I accept with humility and great responsibility. I was surprised to learn that I would be the first Portuguese member of the Cuban National Symphony Orchestra. This is a very great honor,” the maestro said in a statement.

“I take with me the name of the city of Braga and Portugal with all the responsibility that goes with it, and I hope to do a good job there, leaving a good image and putting on great concerts. These will be very special concerts because, in addition to performing pieces that I love, especially Rachmaninov and Tchaikovsky, I will be directing two wonderful soloists who are also my friends. It will be very beautiful,” concludes Filipe Cunha.

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