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Stock Market & Financial Investment News

News Breaks
January 9, 2013
09:36 EDTLUK, BRK.B, BRK.ABerkadia Commercial Mortgage acquires Hendricks & Partners
Berkadia Commercial Mortgage announced the expansion of its U.S. presence through its acquisition of Hendricks & Partners. The acquisition closed on December 31, 2012. Effective immediately, Hendricks & Partners will operate under the name Hendricks-Berkadia. Current Hendricks & Partners CEO, Don Hendricks, will join Berkadia's Executive Committee as the CEO of Hendricks-Berkadia and Executive Vice President of Berkadia. Berkadia Commercial Mortgage is a joint venture between Berkshire Hathaway (BRK.A, BRK.B) and Leucadia National (LUK).
News For B;LUK From The Last 14 Days
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January 26, 2015
06:34 EDTLUKFXCM shares likely to bounce, then fade, says Citigroup
Citigroup expects FXCM (FXCM) shares to initially bounce today following the company's January retail metrics, but then for the rally to fade as investors realize Leucadia (LUK) will be the primary beneficiary of any resilience in the business. Citi keeps a Sell rating on FXCM with a 75c price target.
January 23, 2015
06:24 EDTLUKFXCM shares trading at unsustainable levels, says Citigroup
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January 21, 2015
08:51 EDTLUKArena Pharma sells 21M shares to Leucadia's Jefferies and Piper Jaffray
Arena Pharmaceuticals (ARNA) has sold 21M shares of common stock to Jefferies, a subsidiary of Leucadia (LUK) and to Piper Jaffray (PJC) as underwriters for its previously announced public offering. The offering is expected to close on or about January 26. In addition, Arena has granted the underwriters a 30-day option to purchase up to an aggregate of 3M additional shares of common stock. Arena anticipates using the net proceeds from the offering for the clinical and preclinical development of drug candidates, for discovery research for new drug candidates, and for general corporate purposes.
January 20, 2015
16:23 EDTLUKOn The Fly: Closing Wrap
Stocks began the session in positive territory, but the major averages were unable to hold their early gains. Lackluster earnings reports, the falling price of oil, and lowered global growth expectations appeared to be too much to overcome after a three day holiday weekend. The Dow led the way lower and had losses of more than 100 points before reversing and slowly paring its losses. Late in the day the averages made it back to positive ground, as investors await the next round of earnings due out after the close. ECONOMIC EVENTS: In the U.S., the NAHB homebuilder sentiment index fell to 57 in January, missing expectations for it to hold steady at 58. In China, Q4 GDP growth of 7.3% came in slightly better than expected, though that puts the nation's 2014 GDP growth at 7.4%, which was the lowest reported in 24 years. Of note, the International Monetary Fund cut its forecast for global growth in 2015 to 3.5% and in 2016 to 3.7%, which were both revised down by 0.3% relative to the organization's October 2014 outlook. COMPANY NEWS: Shares of Johnson & Johnson (JNJ) led all decliners on the Dow Jones Industrial Average with a drop of $2.75, or 2.64%, to $101.29 after its Q4 earnings were nearly in-line and its FY15 outlook failed to spur buying of the stock... Morgan Stanley (MS) declined 14c, or 0.4%, to $34.75 after the firm became the latest in the financial space to report headline earnings that missed expectations. MAJOR MOVERS: Among the notable gainers was Smith & Wesson (SWHC), which rose $1.65, or 16.47%, to $11.67 after the gunmaker increased its financial guidance and said it has seen recent, positive trends in the primary indicators it uses to assess its business and the consumer firearm market. Also higher was Orbitz Worldwide (OWW), which jumped 79c, or 8.62%, to $9.95 after Bloomberg reported that the online travel agency is working with an adviser to contact potential buyers and has drawn interest from private-equity funds and "other Internet companies." Among the noteworthy losers was FXCM (FXCM), which plunged $11.03, or 87.33%, to $1.60 after the stock reopened following the company struck a $300M rescue agreement with Leucadia (LUK) and gave further details on that deal over the weekend. Also lower were shares of Redbox owner Outerwall (OUTR), which fell $15.72, or 20.21%, to $62.05 after the company announced that its CEO had stepped down. INDEXES: The Dow rose 3.66, or 0.02%, to 17,515.23, the Nasdaq gained 20.46, or 0.44%, to 4,654.85, and the S&P 500 advanced 3.13, or 0.15%, to 2,022.55.
13:08 EDTLUKOn The Fly: Midday Wrap
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06:17 EDTLUKFXCM price target lowered to 75c from $5 at Citigroup
Citigroup lowered its price target for FXCM (FXCM) to 75c from $5 saying Leucadia's (LUK) $300M rescue package "essentially wiped out" the equity value. Citi estimates FXCM's pro forma market value around $50M-$68M and keeps a Sell rating on the name.
06:17 EDTLUKFXCM provides further details on agreement with Leucadia
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January 16, 2015
16:45 EDTLUKFXCM resumes trading, up over 150% from halted level
FXCM shares were down 88% in pre-market trading prior to being halted.
16:29 EDTLUKOn The Fly: Closing Wrap
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15:57 EDTLUKLeucadia to provide $300M financing to permit FXCM to continue operations
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15:11 EDTLUKLeucadia provides FXCM $300M in financing, CNBC reports
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12:43 EDTLUKOn The Fly: Midday Wrap
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12:26 EDTLUKLeucadia trading halted, pending news
11:17 EDTLUKJefferies working on $300M deal to rescue FXCM, CNBC reports
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10:58 EDTLUKFXCM in talks to raise $200M from Jefferies, Bloomberg reports
According to sources, FXCM (FXCM) is in discussions to raise nearly $200M from Jefferies, a unit of Leucadia (LUK), Bloomberg reports. FXCM last night that due to "unprecedented volatility" in EUR/CHF pair after the Swiss National Bank announcement, clients experienced "significant losses," generating negative equity balances owed to FXCM of approximately $225M. Reference Link
10:55 EDTLUKFXCM in talks to raise $200M from Jefferies, Bloomberg reports
Jefferies is a unit of Leucadia (LUK).
January 14, 2015
16:04 EDTLUKLeucadia COO Justin Wheeler steps down
On January 12, COO Justin Wheeler stepped down as one of the company's executives and was appointed CEO of Berkadia Commercial Mortgage, a joint venture with Berkshire Hathaway (BRK.A).

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