An article published by Bloomberg today details the background and various benefits of Prattle’s new Equities Analytics data product, focusing on the performance and efficiency gains Prattle users could receive:
Schnidman points to the recent earnings of Mylan NV, a U.S.-listed pharmaceutical company, as a showcase for what Prattle offers. Mylan released quarterly results in early November that missed estimates. Yet Prattle’s quantitative sentiment scores, based on the relationship of words to each other, put Mylan’s earnings call in the 90th percentile — meaning its shares were expected to outperform the market. The stock rose 4.7 percent, compared with a 0.1 percent gain on the S&P 500 Index.
Schnidman’s play is that Prattle’s services will offer a productivity boost and help generate trading calls more quickly.
‘That report on the earnings call means that an analyst that’s struggling to keep up with covering 10 or 12 companies can cover 30 or 50,’ Schnidman said in an interview by phone.
Read the full piece here.