PJC has strong M&A activity and its pipeline of IPO's is going to continue to get stronger into the end of the next quarter, if the market has an uptick going into the end of the year a leveling off of trading activity inconjunction with strong investment banking revenues should easily put PJC above their 58 cent per share expectations. There has also been alot of positive sentiment in the stock lately, a potential deal maybe
What is your deal? Did you get turned down for a banking position?
I've owned PJC from time-to-time because it is about the most straightforward play among broker-dealers on banking activity but I'm generally otherwise indifferent to the name. However, I am curious as to why you have such a hatred for the name.
Right now you just look like an idiot ranting and raving because it was not just one deal that made the quarter. If you look at the deals from last quarter, there were a lot of deals that made the quarter so strong. Also, the deals were across sector groups which means the strong performance was not isolated.
For me to be a long-term buyer of the name I need to see further margin improvement out of PCS and I want to see exeuction out of capital markets trading (especially fixed income). In the meantime, strong M&A which appears to have legs (look at the pipeline) is buying time for the other segments to perform.