Leucadia National Corp., the financial firm that provided an emergency bailout to FXCM Inc., said it has begun to receive payments from the foreign-exchange broker and expects to recover more than a quarter of its investment within three months of the deal’s closing.
The comments from Leucadia LUK, -2.30% , the parent company of investment bank Jefferies Group LLC, came as the company reported weaker top- and bottom-line results for its fourth quarter.
Shares edged slightly lower in morning trading and are off about 16% over the past 12 months.
Leucadia offered FXCM FXCM, +2.37% a $300 million rescue package last month after a surprise surge in the Swiss franc led to big client losses following the decision by the Swiss National Bank to eliminate the cap on the currency.
In all, for the fourth quarter, Leucadia posted a loss of $8.75 million versus a year-earlier profit of $9.57 million a year earlier. On a per-share basis, which reflects the payment of preferred dividends, the loss was three cents a share compared with a profit of two cents a share a year earlier.
Sentiment: Strong Buy
by Joe Willams
Orexigen Therapeutics, Inc. (NASDAQ:OREX): 5 Brokerage firm Analysts have agreed with the mean estimate for the short term price target of $10.6 in Orexigen Therapeutics, Inc. (NASDAQ:OREX). However, the stock price could fluctuate by $ 3.13 from the estimate as it is suggested by the standard deviation reading. The higher estimate has been put at $16 price target with the lower price estimate is calculated at $8
The short interest information of the company was disclosed in the recent information. Orexigen Therapeutics, Inc. (NASDAQ:OREX), A sharp increase of 572,695 shares or 1.5% was observed in the short interest of Orexigen Therapeutics, Inc. The interest on February 13,2015 came in at 38,285,268 shares and as per the average daily trading of 1,255,605 shares, the days to cover are 30. The increased interest is 37.6% of the floated shares. The data of January 30,2015 put the interest at 37,712,573 shares.
Piper Jaffray maintains their rating on the shares of Orexigen Therapeutics, Inc. (NASDAQ:OREX). The current rating of the shares is Overweight. Equity Analysts at the Firm raises the price target to $26 per share from $16 per share.
Orexigen Therapeutics, Inc. (NASDAQ:OREX) ended the session with a positive gain of 1.85 points or 31.95%. However, the shares rallied during the session and at the close the shares traded at $7.64. The stock began trading at $5.94 and hit an intraday high of $9.37. The volume for the day was 95,858,485 shares. The previous close of the counter was $5.79. The company has a 52-week high of $7.82 and the 52-week low level is $3.11. The market cap of the company is $945 million and there are 123,728,000 shares in public circulation.
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Sentiment: Strong Buy