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Jefferies Group, Inc. Message Board

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  • impennysaver impennysaver Sep 21, 2012 12:08 PM Flag

    they ripped off shareholders

    where did you get this info:

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    • Shares of Jefferies declined 7.3 percent to $14.52 at 4:15 p.m., after the company posted net income for the three months ended Aug. 31 of $70.2 million, or 31 cents a share. Earnings adjusted for the Knight Capital transaction were 24 cents a share, compared with the average estimate of five analysts surveyed by Bloomberg for 26 cents.
      Enlarge image Jefferies Shares Fall as Profit Excluding Knight Misses Estimate
      Jefferies Shares Fall as Profit Excluding Knight Misses Estimate
      Jefferies Shares Fall as Profit Excluding Knight Misses Estimate

      Jefferies Group via Bloomberg

      Jefferies Group Inc. helped arrange a $400 million bailout for Knight Capital Group Inc. earlier this year after trading losses spurred by a software failure.

      Jefferies Group Inc. helped arrange a $400 million bailout for Knight Capital Group Inc. earlier this year after trading losses spurred by a software failure. Source: Jefferies Group via Bloomberg

      Jefferies helped arrange a $400 million bailout for Knight Capital earlier this year after trading losses spurred by a software failure. The share ownership added $103.3 million to Jefferies’s principal-transaction revenue and 8 cents to its earnings per share, according to a statement today from the New York-based firm.

      “There is some disappointment that more of the Knight gain did not accrue to shareholders,” said Douglas Sipkin, an analyst at Susquehanna Financial Group LLLP. “Knight made a big gain of $100 million, so why only 8 cents for shareholders? Why are you paying out so much of that to employees?”

      Jefferies set aside $440.4 million, or 60 percent of net revenue, for compensation in the quarter, compared with $299.6 million, or 59 percent, a year earlier. The firm employed 3,814 people at Aug. 31, compared with 3,809 on May 31 and 3,842 on Aug. 31 last year.

 

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