NEW YORK (TheStreet) -- Shares of State Street (STT) - Get Report are climbing 0.52% to $58.09 this afternoon as the company prepares to report 2016 second quarter results before the opening bell tomorrow.
Analysts estimated that the company will report earnings of $1.26 per share on revenue of $2.65 billion for the period.
In 2015, the company reported non-GAAP second quarter earnings of $1.37 and revenue of $2.61 billion.
State Street, a Boston-based financial services company, recently announced that it had completed its acquisition of GE's (GE) Asset Management unit for $485 million.
The company said this acquisition added new alternatives capabilities to State Street's Global Advisors, while strengthening the firm's fundamental equity and active fixed income teams. The deal also adds about $100 billion in investment assets.
"This transaction is a key step in our strategy to invest in higher growth and return businesses," said Jay Hooley, State Street CEO.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "hold" with a ratings score of C+.
The company's strengths can be seen in multiple areas, such as its attractive valuation levels, good cash flow from operations and expanding profit margins. However, TheStreet Ratings finds weaknesses including deteriorating net income, disappointing return on equity and a generally disappointing performance in the stock itself.
You can view the full analysis from the report here: STT