18 December 2017
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Wall Street Horizon EventBreaks alert investors to corporate actions

17 October 2017  |  1671 views  |  0 Source: Wall Street Horizon

Wall Street Horizon, an alternative data provider specializing in corporate event intelligence, today announced the launch of EventBreaks.

This unique new service, which covers each of the 40+ event types that Wall Street Horizon tracks, provides granular information around how events move, alerting users to the time, date and substance of corporate event changes. EventBreaks is available immediately and is included as a free add-on to the Enchilada product suite.

Academic research has been very clear that there is alpha to be gained by understanding the changes to things like shareholder meeting locations, earnings release dates and conference presenters. With EventBreaks, clients are alerted to material corporate event changes such as:

• a company’s Investor Conference presenter is changed from the CEO to a product manager;

• a shareholder meeting is moved from the company’s home city to a location 500 miles away;

• a buyback offering that is extended, with new terms;

• an earnings date or earnings conference call that is delayed.

According to Wall Street Horizon’s survey of institutional investors regarding their opinions on corporate event data published in 2017, the overwhelming majority - 80% - indicated that they would like to access functionality that alerts them when events change. While Wall Street Horizon has offered this data for earnings release dates for several years, the launch of EventBreaks marks the first time it has been extended to the full breadth of events it tracks.

Commenting on the launch, Wall Street Horizon CEO Barry L. Star said: “Companies communicate non-verbally every day through their event changes. Our DateBreaks product was the first, and is still the only one available, that has this capability for earnings date movements, and we’re extremely excited to extend this functionality to our full universe of tracked events.”

According to a recent study by Greenwich Associates, investors are currently spending $183 million annually on alternative data, and Tabb Group estimates that the spend could more than double over the next five years. The Greenwich study found that the top uses for alternative data was to find investment opportunities, research investment decisions and allow algorithms to trade on predefined signals.

“While corporate event data has been available longer than some of the newer alternative data methodologies like social sentiment monitoring, satellite data or mobile phone location intelligence, the fact is that showing the deltas on event dates is a powerful piece of intelligence for investors. The introduction of this functionality marks a significant step forward for the industry, and will be extremely helpful to a range of client types, from PMs and traders tracking their watchlists to quant investors and algo developers looking to refine their models,” said Brad Bailey, Research Director, Capital Markets at Celent.

“Quite simply, the reason we partnered with Wall Street Horizon on our Earnings Date Revisions study is because they are the only provider whose dataset is accurate and comprehensive enough to power it,” said Stuart Farr, President of Deltix. “The introduction of EventBreaks is a game changer in the event data space, and we’re very excited to explore the new research that will be possible because of it.”

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