$FXCM @ 2.17 Leucadia Begins Recovering FXCM I
Post# of 22755
Posted On: 02/27/2015 12:55:29 PM
$FXCM @ 2.17
Leucadia Begins Recovering FXCM Investment -- Update
2 hours 30 minutes ago - DJNF
By Angela Chen
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, 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 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.
The latest results include a $52.3 million charge related to a bad debt provision recorded by Jefferies.
Revenue fell to $2.69 billion from $2.92 billion a year earlier.
Leucadia recorded $9.5 million in realized security gains, versus a loss of $421,000 a year earlier.
Leucadia purchased Jefferies two years ago and last month agreed to pay $70 million to former shareholders to settle claims it underpaid when it bought the investment bank.
Write to Angela Chen at angela.chen@dowjones.com
Access Investor Kit for FXCM, Inc.
Visit http://www.companyspotlight.com/partner?cp_co...3026931069
Access Investor Kit for Leucadia National Corp.
Visit http://www.companyspotlight.com/partner?cp_co...5272881047
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
February 27, 2015 10:22 ET (15:22 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
Leucadia Begins Recovering FXCM Investment -- Update
2 hours 30 minutes ago - DJNF
By Angela Chen
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, 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 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.
The latest results include a $52.3 million charge related to a bad debt provision recorded by Jefferies.
Revenue fell to $2.69 billion from $2.92 billion a year earlier.
Leucadia recorded $9.5 million in realized security gains, versus a loss of $421,000 a year earlier.
Leucadia purchased Jefferies two years ago and last month agreed to pay $70 million to former shareholders to settle claims it underpaid when it bought the investment bank.
Write to Angela Chen at angela.chen@dowjones.com
Access Investor Kit for FXCM, Inc.
Visit http://www.companyspotlight.com/partner?cp_co...3026931069
Access Investor Kit for Leucadia National Corp.
Visit http://www.companyspotlight.com/partner?cp_co...5272881047
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
February 27, 2015 10:22 ET (15:22 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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I'm in it to win it!
NASDAQ DIP and RIP
Here is the best word that describes what i do here.
Intuitive;
means having the ability to understand or know something without any direct evidence or reasoning process.
I was born with it, I'm truly blessed!
Alway's searching for winners'
NASDAQ DIP and RIP
Here is the best word that describes what i do here.
Intuitive;
means having the ability to understand or know something without any direct evidence or reasoning process.
I was born with it, I'm truly blessed!
Alway's searching for winners'
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