Nyse: parent ICE down after mortgage unit revenue slumps

Black Knight

03/08/2023 19:11

** Shares of NYSE-parent Intercontinental Exchange  ICE.N 
down 3.4% at $111.14 
    ** Co reports Q2 mortgage technology revenue of $249 mln,
down 16% from last year
    ** Also warns of weakness in the segment for the year 
    ** "Current cyclical pressures are likely to drive recurring
revenue growth into the low single-digit range for the full
year," CFO Warren Gardiner says, referring to ICE's mortgage
unit
    ** ICE also announced a deal to buy mortgage data vendor
Black Knight  BKI.N  last year
    ** Twelve of 17 brokerages rate the stock "buy" or higher,
and 5 "hold"; their median PT is $133 - Refinitiv
    ** Including sessions move, shares up 8.3% YTD

 (Reporting by Pritam Biswas in Bengaluru)
 ((Pritam.Biswas@thomsonreuters.com))