|12/28/12||(JEF) Knight Capital Group to Merge with Getco (Stock Blog Hub)|
The Global Electronic Trading Company or Getco LLC is all set to acquire the troubled automated trading firm Knight Capital Group, Inc. (KCG) for $1.4 billion. The cash and stock deal is expected to close in the first half of 2013. Under the terms of the deal, Knight Capital and Getco LLC will combine to form [...]
|11/20/12||Why this $3.6 Billion Deal Signals Opportunity in Beaten-Down Sector (Jutia Group)|
Over the past week, the market has focused mostly on the new political reality in Washington and the upcoming negotiations designed to avoid going over the “fiscal cliff.” So investors are right to focus on it, too. But [...]
|9/7/12||Apple And Samsung Might Reach Global Patent Settlement: Jefferies (Value Investing)|
Apple Inc. (NASDAQ:AAPL) has less than a 50 percent chance to get a court injunction against the smartphones produced by Samsung Electronics Co., Ltd. (LON:BC94), according to Jefferies, an equity research firm. They make these remarks after conducting a conference call with David Sunshine, a patent lawyer. Atty. Sunshine also told Jefferies that the Cupertino-based iPhone [...]
|9/5/12||Long In The Face – Facebook Is A Good Long Term Investment: Jefferies (ValueWalk.com)|
Facebook Inc (NASDAQ:FB) is undergoing a sort of resurgence in recent weeks. A new slew of reports on the companies future have been released and a new investment thesis-narrative has raised its head. The general vein of these reports, is exemplified by a report published by Jefferies yesterday. The report follows in the footsteps of many [...]
|8/27/12||Apple’s Television Already in Production, Says Jefferies (Phil’s Stock World)|
Courtesy of Benzinga. One of Apple's (NASDAQ: AAPL) senior [...]
|8/13/12||Leucadia Buys JEF, INTL, COWN, and MLI Reduces Stake in GLPW (Value Investing)|
Leucadia National Corp. (NYSE:LUK), a publicly traded investment firm managed by expert investors Ian Cumming and Joseph Steinberg. The company’s portfolio is worth $1,234,048,000 during the second quarter of the fiscal year ending in June 30. The company invested in four stocks in the financials and industrials sector. The company’s total investment in the financials sectors [...]
|5/18/12||Chesapeake Energy Corporation (CHK) Finds Friend in Jefferies (Value Investing)|
Sometimes it pays to make friends in the financial industry. When Chesapeake Energy Corporation (NYSE:CHK) was acquisition hungry in the bullish natural gas period starting in 2007, the firm relied heavily on investment banking firm Jefferies Group, Inc. (NYSE:JEF), particularly the Vice-Chairman Ralph Eads, to close out a number of deals for new properties. Now that times [...]
|4/30/12||No More Wildcatters: WCAT Closing (Jutia Group)|
Jefferies | TR/J CRB Wildcatter Exploration & Production Equity ETF (WCAT) will see its last day of trading on Friday, April 27, 2012. ALPS ETF Trust announced (pdf) the closure and liquidation after the Board determined it was advisable and in the best interest of the fund and its [...]
|3/20/12||Jefferies Group Inc. (JEF) Reports $77 Million for Q1: Down 11% Q-Q (Value Investing)|
On Tuesday, Jefferies Group Inc. (NYSE:JEF)reported its first quarter earnings report and noted a profit of $77 million. This came as the company's debt trading and investment banking saw some life again after a lackluster second half in 2011. Jefferies saw its revenue more than double to $339.1 million from debt trading in the first quarter [...]
|1/23/12||Monday (01/23/12) Pre-Market Morning News: Jefferies Poaching RBS Employees (ValueWalk.com)|
Every morning the Street of Walls team puts out an update on market levels, today’s top stories, and active M&A deals. Today’s Top Stories: GS Morning Update: “Stock markets in Asia were mostly closed or operating with scant liquidity Monday as the region kicks off the Lunar New Year this week. As a result, Asian stocks are not likely [...]
|1/3/12||Pay and Restructuring Rile Staff at Jefferies (ValueWalk.com)|
Several executives and other employees in Jefferies Group Inc.'s prime-brokerage unit threatened to leave the firm in a dispute over issues including a recent restructuring and year-end compensation, people familiar with the matter said. The dispute led to a series of meetings Tuesday involving Jefferies executives and its global head of prime brokerage, Glen Dailey, the people said. [...]
|12/13/11||Are Traders Completely Wrong About Jefferies? (Benzinga)|
Traders as well as longer term investors are continually nervous about Jefferies (NYSE: JEF), the largest independent investment bank in the US. With rumors of massive job cuts, the stock has been tumbling downwards, and investors are wondering if it is a failure in progress or a major buying opportunity. In November, rumors started to surface that Jefferies may be exposed to Europe in an extremely unfavorable way. The rumors themselves sent the stock spiraling downward, and Jefferies...
|11/21/11||Jefferies blasts hedge fund for “spreading false rumors.” (Value Investing)|
November 21, 2011 To Our Clients, Shareholders, Bondholders, Employees and Friends: We are writing so that every one of our key constituencies receive the facts and reality directly from us, instead of being misled by half-truths, false rumors and lies being disseminated with malice by a group whose interests are absolutely opposed to yours and ours. With [...]
|11/11/11||Jefferies’ Peter Misek on The Future of RIM and Apple (Bloomberg) (GreenLightAdvisor Views)|
Peter Misek, Analyst, Jefferies and Company, is interviewed on Bloomberg Surveillance November 8, 2011 SPEAKERS: Tom Keene, Bloomberg Surveillance Host Ken Prewitt, Bloomberg Surveillance Co-Host Peter Misek, Analyst, Jefferies and Company, 9:13 minutes Listen to this interview here (press play): http://media.bloomberg.com/bb/avfile/News/Surveillance/v2avxlmYpNnc.mp3 **** TOM KEENE, BLOOMBERG SURVEILLANCE HOST: Peter Misek with Jefferies on the future of BlackBerry....
|11/5/11||Eagerly Awaiting That Jefferies CUSIP-Level European Exposure Update (Phil’s Stock World)|
Courtesy of ZeroHedge. View original post here.Submitted by Tyler Durden.Yesterday, when Jefferies CEO Richie Handler issued his 3rd, and probably not last, public promise that "the firm is fine", he also promised to release granular level detail of every single European holding it has via a complete CUSIP dump. To wit: "These are fragile times [...]
|11/3/11||Keene: Trade Of The Day – Buying the Jeffries, JEF December 10-5 1×2 Put Spread for $.50 ()|
Breakdown: I bought the Jeffries December 10-5 1×2 Put Spread for $.50 Total. Profitable – I make money on this trade if JEF between $.50-$9.50 by December 16, 2011. Break-even – I breakeven on this trade if JEF closes at $.50 or $9.50 by December 16, 2011. Unprofitable – If JEF closes above $9.50 or [...]
|11/3/11||Jeffries Group, JEF, Halted Twice Down as Much as $2.48 (20.2%) to $9.79 ()|
Price change: JEF, Jeffries Group Inc, plunged as much as $2.48 to $9.79 (20.2%), but is recovery its losses. Thesis: JEF is the latest bank to rumored to have huge exposure to the Greece Debt Situation sending JEF to lowest level since March 2009. Related: CLICK HERE FOR FREE GOOGLE EMAIL ALERTS WHEN WE POST A NEW ARTICLE Bottom [...]
|11/3/11||Jefferies Statement on Sovereign Debt of Portugal, Italy, Ireland, Greece, and Spain (Value Investing)|
NEW YORK & LONDON, Nov 03, 2011 (BUSINESS WIRE) -- In response to information published today, Jefferies clarified information relating to its sovereign-debt positions and its interest-income expense. To be clear, as of August 31, 2011, Jefferies had no meaningful net exposure to European sovereign debt. Recent reports and calculations appear to have been focusing only [...]
|9/13/11||Jefferies Describes The Endgame: Europe Is Finished (Wall Street Sector Selector)|
The most scathing report describing in exquisite detail the coming financial apocalypse in Europe comes not from some fringe blogger or soundbite striving politician, but from perpetual bulge bracket wannabe, Jefferies and specifically its chief market...
|9/12/11||5 Stock Picks By Super Investor Ian Cumming (Investment Underground » Page not found)|
Ian Cumming is the Chairman of Leucadia National. Leucadia National (LUK) is a publicly traded investment company
|6/28/11||Traders Bid Up First Solar (FSLR) Despite Mixed Jefferies Comments (Green Stocks Central)|
Shares of First Solar (FSLR) continue to hang in around the $120 level and today got a much needed jolt higher above that level with volume. The move is a little surprising considering Jefferies came out with cautious comments on the company saying they believe they will lower guidance when they report earnings in August. [...]
|4/12/11||(LUK) Leucadia National to Raise Stake in Jefferies Group (Stock Blog Hub)|
Leucadia National Corporation (LUK) recently announced that it will increase its stake in Jefferies Group Inc. (JEF), a full service investment bank. The company, in response to Jefferies' $500 million stock offering, will purchase $125 million of the investment bank’s common shares. The purchase will increase Leucadia’s stock holding in Jefferies to 27.83% from 27.54%. Leucadia’s investment [...]
|3/11/11||Economists React to February Retail Sales Data (Wall Street Sector Selector)|
Some quick econowonkery on today’s retail sales data. Quick recap: February retail sales were up 1%, and up 0.7% after removing autos. January sales gains were revised up to 0.7% from 0.3%. Jefferies: “The tone of the February data is pretty solid,...
|3/7/11||RIMM: Analysts React to CMO Pardy Departure (Wall Street Sector Selector)|
Reuters PlayBook launch looms. Friend and foe of Research in Motion are trying to figure out what the departure of Chief Marketing Officer Keith Pardy means for the maker of BlackBerry on the even of its big PlayBook tablet launch. As with many th...
|2/3/11||Jefferies’ 6 Best Health-Care Stocks for 2011 (Penny Stock DD)|
BOSTON (TheStreet) -- Investment bank Jefferies included six U.S. health-care stocks in its 2011 Top Picks List. All are expected to deliver double-digit percentage gains over 12 months even as health-care shares have fallen out of favor as evidence of stronger economic growth spurs a migration to riskier assets. But with [...]
|2/1/11||Jefferies’ 5 Consumer Stocks With Big Gains (Penny Stock DD)|
BOSTON (TheStreet) -- The 2011 Top Picks List from Jefferies includes eight consumer stocks that the bank expects to outperform the broader market. Five of those still offer significant upside, based on projected price targets. Jefferies expects returns of at least 17% and as much as 74% in 2011. Below is a [...]
|11/5/10||Jefferies & Company Raises Dionex Corporation FY11 EPS To $3.70 (Benzinga)|
Dionex Corporation's (NASDAQ: DNEX) core focus in liquid chromatography analytical technologies, success in penetrating adjacent market niches, effective cost structure management, and disciplined capital re-deployment history have contributed to above-average organic revenue growth and profitability profiles and superior ROIC, Jefferies & Company reports. “DNEX's fiscal-1Q11 EPS of $0.62 fell $0.01 below consensus as an FX hedging loss (-$0.04) offset the effects of stronger revenue...
|11/5/10||Jefferies & Company Lowers Pride International Estimates; Maintains Buy Rating (Benzinga)|
With a premium UDW fleet, good earnings visibility, and outsized EPS growth in 2011 relative to its peers, Jefferies & Company is maintaining its Buy rating on Pride International, Inc. (NYSE: PDE) “as the Company is an attractive acquisition target as well as a pure play on the long-term growth of the deepwater market.” Jefferies & Company said that PDE reported recurring 3Q10 EPS of $0.21, “which was below both our estimate and the Consensus of $0.28 due to $30MM in unrecorded...
|11/5/10||Jefferies & Company Raises Mettler-Toledo International PT To $160 (Benzinga)|
In a report released this morning, Jefferies & Company said that Mettler-Toledo International's (NYSE: MTD) ROIC profile is amongst the highest in its life science research supply universe, and leverage to improve the metric further is considerable, owing to its superior pricing power, highly scalable operating infrastructure, strong asset utilization acumen, and responsible capital re-deployment philosophy. “MTD's 3Q10 EPS of $1.71 was $0.15 above consensus on considerable organic...
|11/5/10||Jefferies & Company Comments On Potential Symantec Corporation Breakup (Benzinga)|
Yesterday the New York Post reported that activist investors have begun to acquire Symantec Corporation (NASDAQ: SYMC) shares with a goal of unlocking value via a breakup. “We estimate a sum of the parts valuation of $25-27 per share,” Jefferies & Company writes. “Our recent LBO analysis pointed to ~$20 per share.” Jefferies & Company said that its $17 price target is 9x EV/FY11 FCF per share estimate of $1.80 plus cash. This multiple is within the historical 9x-12x range and...
|11/4/10||Jefferies & Company Maintains ION Geophysical Corporation Rating (Benzinga)|
ION Geophysical Corporation (NYSE: IO) delivered strong 3Q results owing to excellent multi-client results, while partially offset by continued weakness in its land equipment business (INOVA JV), and weak GOM activity, Jefferies & Company reports. “We expect shares to react well to 3Q earnings and positive comments about 4Q multi-client activity,” Jefferies & Company writes, noting that it maintains its Hold rating. “IO expects data library sales to return to a more normal seasonal...
|11/4/10||AOL Comes In Slightly Ahead Of Expectations (Benzinga)|
Jefferies & Co. has published a research report on AOL, Inc. (NYSE: AOL) after 3Q results came in slightly ahead of expectations, boding well for FY2011. In the report, Jefferies writes "3Q results were slightly ahead of muted expectations. Gross revenues of $563.5M were down 26.2% Y/Y, but came in higher than consensus of $557M and our $555M. NEPS at $0.84 (adjusted for one time charges as per our calculation) was comfortably ahead of our $0.75. Adj. OBIDA came in at $158M vs. consensus of...
|11/3/10||Jefferies & Company Lowers Sonus Networks Estimates (Benzinga)|
For 2010, Jefferies & Company is reducing its Sonus Networks, Inc. (NASDAQ: SONS) revenue and EPS estimates from $239 million and $(0.03) to $229.4 million and $(0.09). “Looking at 2011, our sales assumption declines from $261.5 million to $251.5 million,” Jefferies & Company writes. “As stated above, we're incrementally more concerned about the amount of NBS 5200 revenue that Sonus could recognize in 2011 – as such, we've reduced our sales estimate by $10 million.” On the...
|11/3/10||Jefferies & Company Reiterates Its Buy Rating On Radiant Systems (Benzinga)|
Jefferies & Company announced today that it is reiterating its Buy rating on Radiant Systems, Inc. (NASDAQ: RADS) “since [the company has been a share gainer in the fragmented hospitality and specialty retail markets, is seeing high recurring rev growth from SaaS-based services, has a good international growth opportunity, and is driving higher operating margins.” “RADS beat 3Q10 on revs/NG EPS (by $0.01 before the tax benefit) and guided 4Q10 higher on revenue and in line on EPS...
|11/3/10||Jefferies & Company Maintains Spirit AeroSystems Rating; Lowers 2010 Estimate (Benzinga)|
In a report released this morning, Jefferies & Company said that it maintains its Buy rating on Spirit AeroSystems Holdings (NYSE: SPR). “We believe the company's attractive cost position, disciplined operating philosophy, and recent inroads with new customers and adjacent markets should provide for attractive levels of revenue and profit growth over the long-term,” Jefferies & Company writes. “We are lowering our 2010 EPS estimate to $1.55 from $1.65 to reflect Q3 results. We...
|11/2/10||Jefferies Has Hold On Orient-Express Hotels (OEH) (Benzinga)|
Jefferies & Co. has a Hold rating on Orient-Express Hotels Ltd. (NYSE: OEH) after it reported earnings. It has an $11 price target on shares. In a note to clients Jefferies writes, "Results in the key European region were below our bullish estimate as were negative R.E. earnings. The performance, particularly the 14.8% European ADR decline, supports our conservative view on leisure travel in the near term. Given the relatively high valuation, we believe the report is bearish for the...
|11/2/10||Jefferies Alters Earnings On NextEra Energy (NEE) (Benzinga)|
Jefferies & Co. is changing its earnings on NextEra Energy, Inc. (NYSE: NEE) after it reported earnings. It has a Buy rating and a $61 price target on shares. In a note to clients, Jefferies writes, "The company reaffirmed its projected 5-7% average annual increase in adjusted EPS through 2014 (from a base of 2009). We are reducing our 2010 and 2011 EPS estimates by $0.05 to $4.35 and $4.45, respectively. We are increasing our 2012 EPS estimate by $0.05 to $4.65." Shares of NEE lost...
|11/2/10||Jefferies Bullish On WMS Industries After Earnings (Benzinga)|
WMS Industries (NYSE: WMS) reported 1QFY11 adjusted EPS of $0.37, excluding a $0.04 charge related to the closure of the Netherlands facility, and adjusted EBITDA of $59.3M. On 11/1, after the close, WMS reported 1QFY11 adjusted EPS of $0.37 vs. consensus of $0.36 and Jefferies estimate of $0.39. Revenue of $187.5M was above an estimate of $170.3M. Adjusted EBITDA of $59.3M excluded stock-based comp expense of $5.1 million, a $5.3 million charge due to amortization of intangible and...
|11/1/10||Jefferies & Company Maintains ValueClick Hold Rating (Benzinga)|
With the divestiture of non-core assets and CEO Zarley's focus on growth and on more aggressive use of cash, Jefferies & Company said that it believes the ValueClick, Inc. (NASDAQ: VCLK) story is becoming easier to convey, while exhibiting an improving risk profile. “That said, we maintain a Hold rating on lack of visibility into sustainability of growth,” Jefferies & Company writes. “At $13.76, VCLK is trading at an EV/EBITDA of 8x and P/E (GAAP) of 22x on our FY10...
|11/1/10||Solid 3Q Results From SolarWinds (Benzinga)|
Jefferies & Co. has published a research report on SolarWinds, Inc. (NYSE: SWI) after the company reported a solid 3Q that showed strength in US commercial and Federal. In the report, Jefferies writes "In testimony to the economic rebound, Solarwinds' U.S. commercial business grew 30% y/y, and it is up 36% y/y YTD vs 2% growth in the first nine months of 2009. The lumpiness inherent in Federal spending also worked in Solarwinds favor, causing Federal to spike to 25% of licenses. This...
|11/1/10||Strong 3Q Shipments for Consol Energy, Jefferies & Company Reports (Benzinga)|
Consol Energy Inc. (NYSE: CNX) is the largest Northern Appalachian coal producer with diverse energy assets (thermal coal, met coal, and natural gas), Jefferies & Company reports. Q3 shipments were strong despite the idling of Mine 84 and sale of Jones Fork. “Our price target of $55 per share reflects 7x EV/EBITDA multiple on our 2012 forecasted EBITDA of $2.2 billion and 12.5x 2012 EPS; in line with historical valuation,” Jefferies & Company writes. “Risks relate to a decline in...
|11/1/10||Jefferies Remains Cautious On Vivus Pending Qnexa Approval (Benzinga)|
Jefferies & Co. has published a research report on Vivus, Inc. (NASDAQ: VVUS) and is showing concern over the fact that the company has not yet obtained all the necessary data to combat the FDA's letter, focusing mainly on CV events. In the report, Jefferies writes "We remain concerned that VVUS may not have the data necessary to address the FDA letter, particular the question on major CV events. We believe the stock price does not reflect the risk of a potential significant delay from a...
|11/1/10||Fossil And Under Armour Among Specialty Retail Winners, Jefferies & Company Reports (Benzinga)|
While all companies are seeing cost inflation creep up, Jefferies & Company reports that not all are managing the issues (and Street expectations) the same. Bottom line, each company is unique. More importantly, we continue to expect a strong holiday season. “In our opinion, companies best positioned share the following attributes: limited exposure to Chinese manufacturing, limited exposure to cotton, healthy inventory positions, strong brands with pricing power, and offsetting margin...
|11/1/10||Colgate-Palmolive Reports Solid 3Q, Year-End Estimates Raised (Benzinga)|
Jefferies & Co. has published a research report on Colgate-Palmolive (NYSE: CL) after the company reported an upside to 3Q EPS that flows through to FY2010 estimates, but calls for some reduction in 2011. In the report, Jefferies writes "We are raising our 2010E ongoing EPS estimate from $4.60 to $4.69, essentially flowing through the upside generated in the 3Q v. our forecast. This implies a +7.4% year-over-year increase in ongoing EPS, which is below management's outlook for double-digit...
|11/1/10||LyondellBasell Well Positioned For Headwinds In 2011 (Benzinga)|
Jefferies & Co. has published a research report on LyondellBasell Industries (NYSE: LYB) after the company largely exceeded 3Q expectations from Jefferies. In the report, Jefferies writes "With 3-4 years to the next peak in the ethylene cycle, LyondellBasell should trade mostly on short-cycle growth indicators and unplanned outages. While the shares may be range-bound near-term on margin concerns, there should be upside in 2011." Jefferies maintains its Buy rating and has raised the price...
|11/1/10||Jefferies & Company Raises Interpublic Group Estimates (Benzinga)|
Interpublic Group of Companies (NYSE: IPG) reported industry leading organic revenue growth of 9.4%; 10% in the U.S. Operating margin improved significantly YoY to 6.4%, “but missed our aggressive est due to higher incentive comp and temp expense,” Jefferies & Company reports. “We are increasing our FY10/11 revenue to $6,412.1/$6,700.7MM, from $6,382.8/$6,628.0MM previously,” Jefferies & Company writes. “Our estimates assume 5% organic growth in Q4. We are lowering '10 oper margin...
|11/1/10||Sluggish Growth For Henry Schein, Share Values Decline (Benzinga)|
Jefferies & Co. has published a research report on Henry Schein (NASDAQ: HSIC) after the company reported EPS guidance in-line with consensus, but still managed to disappoint investors. In the report, Jefferies writes "Management established 2011 EPS guidance in a range of $3.88-$3.98 (10%-13% growth) compared to the Street at $3.93. Dental consumables are expected to be flat to slightly up with dental equipment faring only slightly better. Other market segment expectations reflect a...
|10/29/10||Blackstone Group Economic Net Income Slightly Above Jefferies & Company And Consensus (Benzinga)|
The Blackstone Group (NYSE: BX) reported economic net income of $0.30 vs. “our $0.29 estimate and consensus of $0.25,” Jefferies & Company reports. “Fee earning assets totaled $104B as of quarter end, up 8% y/y and approx. 3% for the quarter,” Jefferies & Company writes. “Following these results we are modestly increasing our 2011 estimates to $1.45 from $1.36.” Jefferies & Company said that its $14 PT is a combination of a higher multiple (20x) attributed to a relatively...
|10/29/10||ResMed Top-Line And Gross Profits Indicative Of Continued Strength, Jefferies & Company Reports (Benzinga)|
ResMed, Inc. (NYSE: RMD) performed well across the board with outperformance on the top-line driven by balanced growth across product lines and solid contribution from virtually all geographies, Jefferies & Company reports. Bottom line performance was driven by the revenue beat as well as significant outperformance in gross margin. “The strong top-line and gross profit prints are indicative of continued strength across flow generators and masks domestically and abroad,” Jefferies &...
|10/29/10||Jefferies & Company Adjusts MICROS Systems FY11; Maintains Buy Rating (Benzinga)|
MICROS Systems, Inc. (NASDAQ: MCRS) reported revenues/ NG EPS of $233.4M/ $0.41 v Jefferies & Company at $232.2M/ $0.37 and the Street at $232M/ $0.37. Management maintained FY11 guidance of $1000-1005M/ $1.71-1.73. Jefferies & Company said that its FY11 rev/ NG EPS moves to $1005M/ $1.79 v Street at $1010M/ $1.73, and that it is maintaining its Buy rating on the fundamentals. “MCRS reported in-line revenues, but beat on EPS by $0.04 due to lower than expected operating costs,”...