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Stock Market & Financial Investment News

News Breaks
May 12, 2014
07:12 EDTGCAPGAIN Capital reports April OTC trading volume down 5.5% from March
GAIN Capital Holdings reported certain operating metrics for the month of April. Retail OTC trading volume of $174.4B, a decrease of 5.5% from and an increase of 19.6% from April 2013. Average daily retail OTC trading volume of $7.9B, a decrease of 9.8% from March and an increase of 19.6% from April 2013. Active retail OTC accounts of 96,029, a decrease of 1.3% from March and an increase of 51% from April 2013. Futures contracts of 641,641, an increase of 3.3% from March and an increase of 29.2% from April 2013. Total funded accounts3 of 134,944, no change from March and an increase of 36.4% from April 2013.
News For GCAP From The Last 14 Days
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October 31, 2014
06:16 EDTGCAPGAIN Capital reports preliminary Q3 EPS 32c, may not compare to consensus (1c)
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06:14 EDTGCAPGAIN Capital to acquire City Index for $118M
GAIN Capital announced that it has entered into a definitive agreement to acquire City Index for approximately $118M, or a net purchase price of $82M, including $36M in cash on the company's balance sheet. The combined company will have pro forma client assets of approximately $1.2B, and trailing twelve month revenues and adjusted EBITDA, for the period ended September 30, of $462M and $61M, respectively. GAIN has identified $45M-$55M of fixed operating expense synergies, relative to the combined company's trailing twelve-month expenses, and expects to begin realizing theses synergies promptly after closing with full integration achieved over the ensuing 18-24 months. GAIN expects for this acquisition to become highly accretive over this time period and anticipates achieving accretive results by Q4 following closing. The transaction follows the successful acquisition and integration of GFT, which closed in September 2013, where GAIN Capital achieved approximately $40M of run rate expense synergies. The deal is expected to close in 1Q15.
October 22, 2014
10:09 EDTGCAPOn The Fly: Analyst Downgrade Summary
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05:29 EDTGCAPGAIN Capital downgraded to Market Perform from Outperform at Keefe Bruyette
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