Ultra-low rates have spurred investors to chase yield in ever riskier corners of the bond market, but some are starting to pull out of the race.» Read More
Some of the names on the move ahead of the open.
Last week, Navistar shares surged 46 percent, but while Wall Street has been bullish, options trading has been less optimistic.
Knight Capital, which recently agreed to be bought for $1.4 billion by Getco Holding, plans to sell its credit-brokerage unit to Stifel Financial, a person familiar with the matter told Reuters.
Knight Capital Group, which recently agreed to be bought for $1.4 billion by Getco Holding Co, will lay off 5 percent of its global workforce as part of efforts to restructure the automated trading firm, according to a regulatory filing released on Monday.
Kinder Morgan Energy Partners will buy natural gas pipeline operator Copano Energy for $3.22 billion to tap into growing demand for infrastructure in Texas and Oklahoma.
Defense shares have continued to be positive going into earnings season (Boeing aside due to 787 problems), even though most analysts believe earnings will be lower than a year ago.
Knight Capital Group said it will be acquired by rival electronic trading firm Getco Holdings in a cash-and-stock deal that the companies valued at $1.4 billion.
Jefferies Group said fourth quarter earnings rose on strong performance in its fixed income unit.
Knight Capital's board was split between two competing offers for the firm after a meeting on Monday where suitors Getco and Virtu Financial presented their sweetened bids to Knight's directors, sources said.
The Dow and S&P 500 closed higher for the day and the week following an upbeat government jobs report and amid ongoing "fiscal cliff" negotiations, while the Nasdaq finished in the red.
U.S. stock market futures quickly reversed their losses to turn higher Friday following a better-than-expected non-farm payrolls report.
The deal only makes sense if you think of it the other way—Jefferies taking over Leucadia. Which, actually, is what’s happening, even if technically the deal is structured the other way.
Leucadia National, a holding company with investments in a broad array of businesses, is buying the investment banking firm Jefferies Group in an all stock transaction worth roughly $3.7 billion, according to people familiar with the transaction.
Chesapeake said last month that it planned to pay off most of a pricey $4 billion bridge loan after receiving $2.8 billion in cash from the sale of some of its oil and natural gas properties in the Permian Basin. Chesapeake's investment bankers on the Permian deal, Goldman Sachs and Jefferies Group, provided the loan.
JERSEY CITY, N.J.-- Knight Capital Group Inc. reported a large loss in its third quarter because of the fallout from a disastrous software glitch. The glitch in Knight Capital's trading software, which occurred in August, flooded the market with erroneous trades. Knight Capital takes orders from big brokers like TD Ameritrade and E-Trade.
*Pay falls at JPMorgan's investment bank in 3rd qtr. Oct 12- JPMorgan Chase& Co's investment bank set aside less revenue to pay employees last quarter, another sign that Wall Street bonuses are on the decline this year.
The investment bank appointed Michael Eastwood as a managing director and head of Americas equity research. He joins the firm from Morgan Stanley, where he was director of North American fixed income research.
*Says Eastwood joins the firm from Morgan Stanley. He joins the firm from Morgan Stanley, where he was most recently Director of North American Fixed Income Research and, prior to that, Associate Director of North American Equity Research and Head of U.S.
U.S.-traded shares of Argentine companies did particularly well, with telecom holding company Nortel Inversora gaining 7.7 percent to $11.10 and Petrobras Argentina, a subsidiary of Brazil's Petrobras adding 4.4 percent to its share price. The BNY Mellon index of leading Latin American ADRs gained 1.1 percent on the day.
These are critical moments for the company. The $440 million trading loss they announced this morning likely wiped out all the cash on the balance sheet, and they need cash to keep the company running.