FirstRain Launches New Trend-Spotting Tool
There are currently 10,000 companies in the database, and FirstRain plans to add 5,000 companies every six months.
January 29, 2008
New York-based FirstRain, a search driven research company, this week launched Management Monitor, a set of web-based tools for institutional investors and hedge fund clients.
There are currently 10,000 companies in the database, and FirstRain plans to add 5,000 companies every six months. The three components of the system are On the Record Report, No Comment Report and Management Turnover Report.
“The three unique tools allow clients to personalize preferences and spot trends and generate investment ideas,” says Penny Herscher, president and chief executive officer.
On the Record Report allows users, for example an airline analyst, to search a database that includes all news stories on a certain airline company or the industry in general. The No Comment Report allows users to view what topics a company employee or spokesperson will not comment on when questioned in articles. The Management Turnover Report compiles announced and unannounced changes to executive and senior management positions, such as hires, departures and internal moves.
FirstRain tracks such changes through company announcements, or employees being erased from a website, Herscher says.
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