Lazard has a storied history that can be traced back to 1848. The company's revenue is nearly equally split between financial advisory, such as acquisition and restructuring advisory, and asset management. The company's asset management business is primarily equities (over 80% of assets under management), has an international focus, and is geared toward institutional clients. By geography, the company earns approximately 60% of revenue in the Americas, 35% in EMEA, and 5% in Asia-Pacific. Lazard has offices across more than 20 countries and over 3,000 employees.

U.S. stocks sold off on Thursday morning following economic data that led investors to believe that the first interest rate cut will likely be in September. However, stocks recovered some of their losses by market close, while bond yields rose. On the housing front, pending home sales grew 3.4% in March according to the National Association of Realtors, ahead of estimates for sales to remain flat sequentially. The Dow was down 1.0%, the S&P 500 fell 0.5% and the Nasdaq lost 0.6%. Crude oil is trading above $83 per barrel and gold is up $1 to $2343 per ounce.

Lazard Ltd., one of the world's leading financial advisory and asset management firms, provides advice on mergers and acquisitions, strategic matters, restructuring and capital structure, capital raising and corporate finance, as well as asset management services to corporations, partnerships, institutions, governments, and individuals.

In this edition, European interest-rate cuts on the horizon; firm opportunities among drug and biopharma firms; and reports Tesla's affordable vehicle will be canceled; and Lazard, PVH, and Genmab.