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Stock Market & Financial Investment News

News Breaks
March 4, 2013
09:53 EDTSFStifel Nicolaus Canada receives adverse decision in Stetson Oil litigation
Stifel Nicolaus Canada, a subsidiary of Stifel Financial Corp., received an adverse decision from the Court in connection with litigation dating back to 2008 between Stetson Oil and Gas Ltd. and Stifel Nicolaus Canada on Friday, March 1. Stifel Nicolaus Canada disagrees with the Court's decision and intends to appeal that decision at the appropriate time. Stifel Nicolaus Canada believes it has adequate reserves for what it believes will be the ultimate resolution of this matter.
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February 24, 2015
08:37 EDTSFStifel Financial acquisition of Sterne Agee logical, says JMP Securities
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February 23, 2015
16:25 EDTSFStifel Financial acquires Sterne Agee for $150M in cash, stock
Stifel Financial announced that it has entered into a definitive merger agreement to acquire Sterne Agee Group. The acquired businesses are expected to generate $300M-$325M in gross annual revenues and be accretive to shareholder value when fully integrated. The transaction values Sterne Agee at approximately $150M. The closing consideration consists of a combination of Stifel common stock, valued at $51.55 per share, and cash. Depending on shareholder elections, the minimum amount of Stifel stock issued at closing is 1.42M shares and the maximum amount issued is 1.62M shares. Accordingly, the cash consideration will range from approximately $77M-$66M. Stifel and Sterne Agee have agreed with the founders of the FBC Mortgage business to sell the business back to them. The merger is subject to approval by Sterne Agee shareholders and is expected to close in the late spring.The boards of directors of both companies unanimously approve the merger.
16:10 EDTSFStifel Financial announces acquisition of Sterne Agee
Stifel Financial announced the acquisition of Sterne Agee, which it says "bolsters our Global Wealth Management segment with the addition of more than 700 financial advisors and independent representatives nationwide managing over $20 billion in client assets, and complements our Fixed Income platform, generating significant scale."
16:09 EDTSFStifel Financial reports Tier 1 leverage capital ratio 16.5%
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16:08 EDTSFStifel Financial reports Q4 EPS 75c, consensus 78c
Reports Q4 revenue $578.1M, consensus $581.6M.
February 20, 2015
09:36 EDTSFStifel Financial in talks to buy rival Sterne Agee, Bloomberg says
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09:16 EDTSFStifel said in talks to buy Sterne Agee, Bloomberg reports
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