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Stock Market & Financial Investment News

News Breaks
June 25, 2014
17:29 EDTRJFRaymond James reports May total securities commissions and fees down 0.3%
In an effort to provide timely information to investors about general trends in its major business segments, Raymond James is releasing selected operating data for May 2014. Due to the limited nature of this data, a consistent correlation to earnings should not be assumed. Total securities commissions and fees of $270.4M declined 0.3% compared to last year’s May, which had one more trading day, and increased 0.7% over the preceding month. Modest increases in the Private Client Group segment have been essentially offset by reduced commissions in both the Fixed Income and Equity Capital Markets divisions. Client assets under administration reached a record $470.2B, a 13.9% and 1.8% increase over the prior year’s May and preceding month, respectively. Financial assets under management of $63.3B also reached a new record in May, growing 20.1% over last year’s May and 1.8% over the preceding month. “Client assets under administration, financial assets under management, and securities commissions and fees in the Private Client Group segment are benefiting from market appreciation and near-record levels of advisor recruiting activity, which has resulted in record levels of average production,” explained CEO Paul Reilly. “Meanwhile, stubbornly low interest rates and subdued market volatility continue to depress results in the Fixed Income division of the Capital Markets segment.” Raymond James Bank grew net loans to a record $10.4B, a 23.8% increase over the prior May and a $100M increase for the month. Thhe company added, "Despite an active lending environment, net loan growth at the Bank has decelerated from the first two quarters of the fiscal year due to fewer corporate loan origination opportunities meeting our conservative underwriting criteria."
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August 31, 2014
13:31 EDTRJFHart Energy to hold a conference
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August 21, 2014
07:01 EDTRJFRaymond James estimates raised on July trends at Credit Suisse
Credit Suisse raised Raymond James estimates following strong July M&A and capital markets activity, and PCG commission generation. The firm views shares as undervalued and reiterates its Outperform rating and $59 price target.
August 20, 2014
16:26 EDTRJFRaymond James reports July commissions and fees up 18.1% to $285.1M
Total securities commissions and fees of $285.1M increased 18.1% over last year’s July and 3.8% over the preceding month. An increase in the Private Client Group was driven primarily by strong growth of assets in fee-based accounts, which are billed based on balances at the beginning of the quarter. In the Capital Markets segment, an uptick in market volatility and an active underwriting calendar in July resulted in a robust increase in institutional equity commissions, which was almost completely offset by continued declines in institutional fixed income commissions. Client assets under administration of $473.4B grew 13.3% over the prior year’s July but declined 1.2% during the month, as the S&P 500 dropped 1.5% in July. Similarly, financial assets under management of $64B increased 16.4% over the prior year’s July but declined 2% during the month.

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